Vancouver, British Columbia--(Newsfile Corp. - November 20, 2023) - Pure Energy Minerals Ltd. (TSXV: PE) (OTCQB: PEMIF) ("Pure Energy" or "the Company") is pleased to announce that Mr. Patrick Galletti has been appointed to the board of directors of Pure Energy Minerals. Mr. Galletti represents Schlumberger New Energy ("SLB"), a 17.8% shareholder of the Company.
Patrick Galletti is a distinguished professional with 25 years of expertise in the Oil & Gas industry and brings a wealth of experience from diverse international roles, including Project Management, Commercial Negotiations, and Business Management across O&G and Geothermal sectors. His background spans North and South America, Asia, the Middle East, Europe, and Australasia, and includes positions such as Managing Director for Argentina, Bolivia, and Chile, as well as Strategy Director for the Americas. He currently serves as SLB New Energy Business Development Director. Mr. Galletti holds a degree in Petroleum Engineering from Texas A&M University.
Joe Mullin, Pure Energy's CEO & Director, commented, "Pure Energy is pleased to welcome Mr. Galletti as a director of the Company. His wealth of experience in the Americas will be an asset to Pure Energy in its future endeavours and we look forward to his contributions to Pure Energy."
About Pure Energy
Pure Energy Minerals is a lithium resource developer that is driven to become a low-cost supplier for the growing lithium battery industry. Pure Energy has consolidated a pre-eminent land position at its Clayton Valley Project in the Clayton Valley of central Nevada for the exploration and development of lithium resources, comprising 950 claims over 23,360 acres (9,450 hectares), representing the largest mineral land holdings in the valley.
Pure Energy's strategic partner, SLB, is operator of the Clayton Valley Project. In May of 2019, Pure Energy and SLB signed an Earn-In agreement over the CV Project which requires significant investment by SLB at the Project, to include the design and construction of a pilot plant capable of processing lithium-bearing brines for high-quality lithium hydroxide monohydrate ("lithium hydroxide" or "LiOH∙H2O") and/or lithium carbonate products at a specified rate. For further details regarding SLB's participation, please refer to Pure Energy's Annual General and Special Meeting Management Information Circular dated April 4, 2019, available on Sedarplus.ca.
On January 3, 2019, the Nevada Division of Water Resources ("NDWR") approved and granted a Finite Term Water Right to Pure Energy, through its wholly-owned subsidiary Esmeralda Minerals LLC, for the extraction of up to 50 acre-feet of brine during a 5-year period from the CV properties. This water right is deemed sufficient for brine testing requirements and SLB's future the pilot plant facility. In July of 2020, the CV-09 well was completed pursuant to the Finite Term Water Right and results of initial sampling were published by Pure Energy on October 14, 2020. On March 28, 2023, Pure Energy announced that all permits were in place for the construction and operation of the DLE Pilot Plant, and SLB confirmed that construction was underway.
On behalf of the Board of Directors,
President and CEO, Pure Energy Minerals Ltd.
Cautionary Statements and Forward-Looking Information
The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release may include future exploration and development on the Clayton Valley Project. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.
The Company does not undertake to update any forward-looking information, except as required by applicable laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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