Vancouver, BC – PURE ENERGY MINERALS Ltd (TSX-V: PE) (FRANKFURT: AHG) – “Pure Energy” or the “Company”), today announced that it has completed an extension of the existing Memorandum of Understanding (the “MOU”) with POSCO (“POSCO”)(NYSE: PKX), a Republic of Korea multinational global leader. POSCO is one of the largest steel manufacturers in the world and a leader in the development of advanced materials processes.
The MOU outlines the intention of Pure Energy and POSCO in collective engaging in joint business opportunities in the areas of:
(a) the exploration and exploitation of lithium and other mineral by-product materials from PURE’S mineral claims located in Esmeralda County, Nevada, USA; and
(b) commercialization of environmentally friendly extraction and processing technologies for lithium brine.
Pure Energy’s MOU with POSCO, which was originally signed March 3, 2014, http://www.pureenergyminerals.com/pure-energy-minerals-announces-mou-with-posco-on-nevada-lithium-project/ has been extended until March 29, 2015. PURE and POSCO will pursue reasonable efforts to enter into a definitive agreement within this time period.
Robert Mintak, Pure Energy CEO stated “I am very pleased to announce the extension of the MOU with POSCO and look forward to working closely together. The joint initiative will enable the Company to further define its lithium brine project in Clayton Valley Nevada, including test drilling and pumping data, bulk sampling of lithium bearing brines and to provide this data for evaluation of the project for selective processing methods for lithium and other byproducts”
POSCO engages in the manufacture and sale of various steel products in South Korea and internationally. It offers steel for general structures and welded structures used in steel structures, bridges, ships and automobiles; atmospheric corrosion resistant steel for use in the production of containers, special vehicles and buildings, hot rolled steel used in automobile frames and wheels; and hot rolled steel for special applications. POSCO also provides cold rolled sheets used in cold-rolled products, such as CR, GU and color plates; steel for structural pipes, general pipes, special pipes, and carbon steel pipes for machines; steel used in high-pressure gas containers; steel for oil well pipes; and steel for pipelines. The company was founded in 1968 and is based in South Korea.
PURE ENERGY MINERALS LIMITED (TSXV: PE) is an innovative lithium exploration and processing company with assets in Nevada USA. Pure is engaged in the exploration and development of lithium and innovative processing technologies to test and develop the Company’s lithium brine properties located in Clayton Valley, Nevada.
Pure Energy has an option agreement with GeoXplor Corp., a privately owned entity, to acquire a 100% interest in the 5,000 acres CV/DB lithium brine claims. The CV/DB project is adjacent to the only producing lithium mine in the United States, Rockwood Lithium’s Silver Peak lithium brine mine. Pure Energy is focused on producing advanced battery materials utilizing environmentally friendly sustainable and scalable technologies.
On behalf of the Board of Directors
Chief Executive Officer
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