VANCOUVER, Canada –- Southern Lithium Corp. (TSX-V: SNL) (FSE: SL5) (“Southern” or “the Company”) on August 7, 2017, the Company launched an Investment Awareness campaign with Advanced Media Solutions Ltd. which included a sponsored article “The $10 Billion Treasure Hidden In A Dead Volcano” posted on oilprice.com and authored by James Burgess. The sponsored article was highly promotional in nature and once it came to the Company’s attention, was pulled from the Oilprice.com’s website immediately. The contents of the sponsored article were not reviewed or authorized by Larry Segerstrom, M.Sc. (Geology), P.Geo., the President and a Director of the Company, who is a “Qualified Person” as such term is defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
At this time, the Company also announces the resignation of Mr. Sam Eskandari from the Board of Directors and as Vice Pressident Corporate Development. The Company wishes Mr. Eskandari well in his future endeavours.
About the Cruz Property
The Company has executed a formal option agreement with Proyecto Pastos Grandes S.A. (“PPG SA”), a wholly owned subsidiary of Millennial Lithium Corp. (TSX.V:ML) (FSE: A3N2) (OTCQB:MLNLF), through the option Southern Lithium can earn up to an eighty percent (80%) interest in the PPG SA’s Cruz Property in the Pocitos Salar Basin in Salta Province, Argentina.
The Cruz Property is located in South America’s Lithium Triangle (northern Chile, northwestern Argentina and southwest Bolivia). The property encompasses Company also announces the resignation of Mr. Sam Eskandari from the Board of Directors and
9,027 hectares (22,306 acres) in the Pocitos Salar Basin in Salta Province, Argentina.
The Cruz Property is in the northern end of the Pocitos Salar Basin and contiguous to the southern end of the Salar del Rincón Basin, where ADY Resources Limited is extracting lithium brine. Both properties lie along the structural belt that hosts the important lithium resources of the region, at the junction of a large north-south fault system and the northwest-southeast megastructure along which lies the Rincon volcano, the possible source of the lithium brine in both salar basins. The 60-kilometre long Pocitos salar basin has previously only been drill tested with a shallow 12-hole program in the 1970s by an Argentinean government agency “Direccion General de Fabricaciones Militares”. To date, this is the only confirmed exploration drilling conducted in the Pocitos basin. The hole that produced the best results is near the southeast edge of the Cruz property boundary, and averaged 417 parts per million lithium. Although these results are considered historical and have not been verified by the Company’s QP, the Company considers these results relevant to the future exploration of the Cruz property.