Global Geoscience Welcomes Two New Non-Executive Directors, Alan Davies and John Hofmeister

NORTH SYDNEY, Australia, May 23, 2017 (GLOBE NEWSWIRE) -- Global Geoscience Limited (“Global” or the “Company”) (ASX:GSC) is pleased to announce the appointment of Mr. Alan Davies and Mr. John Hofmeister as non-executive Directors, effectively immediately. Global is currently advancing its 100%-owned large, shallow sedimentary-type lithium-boron deposit located in Nevada, USA, Rhyolite Ridge, towards production.

Highlights

• Former Chief Executive Officer of Energy and Industrial Minerals for Rio Tinto, Alan Davies, appointed as non-executive Director of Global Geoscience
• Former President of Shell Oil, John Hofmeister, appointed as non-executive Director of Global Geoscience

James D. Calaway, recently appointed Chairman, commented, “It is critical for emerging companies to have strong, experienced and demanding boards to help them navigate the challenging waters associated with taking a development stage company with a great resource, and effectively converting it into a profitable producer. The addition of these two extraordinary directors to our young company provides immense value to management and shareholders. Both men have led major companies and have experience and judgement that will greatly assist me as the new company chairman. We thank our previous directors for their service, and welcome John and Alan to our exciting lithium-boron growth company.”

Alan Davies is a well-known natural resources and industrial executive with a 20-year career with Rio Tinto culminating in being CEO responsible for Energy and Industrial Minerals, that includes the industry leading borax division and the Jadar lithium/borates development in Serbia. Prior to that position, Alan was CEO of Rio Tinto’s Diamonds and Minerals Product Group that included the borax, diamonds, iron and titanium, uranium and salt divisions. From 2012 until 2016, Alan served as a member of Rio Tinto’s Executive Committee. Alan has led and run mining operations and development projects across the globe, including USA, Canada, South America, India, Africa, China, Europe and Australia, and across commodities, including in iron ore and energy, and a full suite of industrial minerals including borax, trona, salt, titanium dioxide, ilmenite, metal powders, and zircon, and lithium/boron development in Serbia. Alan was also a non-executive director of the aerospace, engineering and industrial business Rolls Royce Holdings plc. Alan is currently an investor in and CEO of Zambian copper development company Moxico Resources plc, a non-executive director of frontier explorer Gryphon Melanesia, and an advisor to Audley Capital.

John Hofmeister brings to Global Geoscience many years of executive experience at General Electric, Northern Telecom, AlliedSignal/Honeywell International and Royal Dutch Shell, where he retired as Shell Oil President in 2008. Shell Oil Company is the US-based wholly owned subsidiary of Royal Dutch Shell. Since 2008 he has served on the boards of Lufkin Industries, Hunting, plc., Applus Services, Inc., and Chairman of Erin Energy Corporation. John has Bachelor’s and Master’s Degrees from Kansas State University. John has also served as the Chairman of the National Urban League in the US and was formerly Chairman of the Greater Houston Partnership. He currently teaches at Arizona State University, University of Houston and Kansas State University and is the Founder and CEO of Citizens for Affordable Energy, a not-for-profit NGO headquartered in Washington, D.C. An American living in Houston, Texas, he has also lived and worked in Hong Kong, London and The Hague.

Mr. Gabriel Chiappini and Mr. Barnaby Egerton-Warburton have stepped down from the board to make way for Messrs. Davies and Hofmeister. Global’s Managing Director, Mr. Bernard Rowe, acknowledged the contributions of Gabriel and Barnaby over the past 18 months and thanked them for their support, enthusiasm and commitment.

About Rhyolite Ridge Lithium-Boron Project

Rhyolite Ridge is a sedimentary-type lithium-boron deposit located in southern Nevada and is 100% owned by Global Geoscience. The project has the potential to become a significant, near-term producer of lithium carbonate and boric acid in America.

Rhyolite Ridge consists of two sedimentary basins located four kilometres apart: South Basin (9 km2) and North Basin (20 km2). South Basin includes an Indicated and Inferred Resource of 3.4 million tonnes of lithium carbonate and 11.3 million tonnes of boric acid, making it one of the largest lithium and boron deposits in North America. The Resource is open in most directions and is likely to increase in size with additional drilling. North Basin hosts thick, shallow lithium-boron mineralisation drilled by wide-spaced holes that are not yet sufficient to estimate a resource. The South Basin Indicated and Inferred Resource contains a high-grade Li-B zone comprising 65Mt at 1.0% Li2CO3 and 9.1% H3BO3 for a total of 650,000 tonnes of lithium carbonate and 5.9 million tonnes of boric acid.

The mineralisation is hosted within thick, shallow, flat-lying sedimentary rocks, representing a potential third source of lithium. Lithium and boron occur within acid-soluble minerals including searlesite and sepiolite, making the deposit amenable to acid-leaching without roasting.

Rhyolite Ridge is located close to existing infrastructure and is 25km west of Albermarle’s Silver Peak lithium mine and 340km by paved road from the Tesla Gigafactory. It has the potential to be a strategic, long-life, low-cost and reliable source of lithium and boron.

Compliance Statement

Information in this report that relates to Mineral Resources is extracted from the report entitled “Maiden Resource for South Basin at Nevada Lithium-Boron Project” created on 10/10/2016 and is available to view on the Global Geoscience website. The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.