News Release – Vancouver, British Columbia October 18, 2022: Monumental Minerals Corp. (“Monumental” or the “Company”) ((TSX-V: MNRL; FSE: BE5; OTCQB: MNMRF) is pleased to announce the addition of 7,025 hectares of land around the current 5,400 hectares at the Salar de Laguna Blanca Lithium-Brine, Cesium-Sediment project located in the prolific lithium triangle, Chile. The Laguna Blanca property now consists of exploration concessions totaling 12,425 hectares, 100% owned by Lithium Chile Inc. through its wholly-owned Chilean subsidiary Minera Kairos Chile Limitada (“Minera Kairos”) (Fig. 1).
Figure 1. Location of the original Laguna Blanca exploration claims (blue outline) and the recently staked claims within the 5 km area of influence (black outline).
Lithium Chile staked an additional 9,600 hectares and a large portion (73%) of this newly staked area falls under an area of influence “AOI” of 5 km as per the Definitive Agreement between Monumental Minerals and Lithium Chile signed on March 31, 2022. Monumental Minerals believes that the most important area of the additional 9,600 hectares staked by Lithium Chile is within the 5 km radius. Monumental Minerals retains the option to earn up to a 75% interest in these additional concessions under the current terms of the Definitive Agreement between Monumental Minerals and Lithium.
The Laguna Blanca Project is within the eastern Andean Geomorphic Belt of Chile’s Central Andean Altiplano and is located 120 km from the Salar de Atacama, the largest producing salar in the world. The felsic volcanic rocks of the Central Andean Altiplano are enriched in Li and Cs. Seasonal rain and snow melt leaches and transports Li, Cs, Ca, Na, Mg, K, and B into the enclosed Laguna Blanca salar. With no outlets, evaporation concentrates these elements within the salar brines.
Dr. Jamil Sader, CEO and Director comments
“We are very excited to have expanded our Laguna Blanca Salar land position, as well as our partnership with Lithium Chile. With the additional exploration concessions, the Project now encompasses a significantly larger part of the salar basin, and will further enhance and extend our lithium brine exploration activities in this highly prospective region.”
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a Director of the Company and a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About Monumental Minerals Corp.
Monumental Minerals Corp. is a mineral exploration company focused on the acquisition, exploration, and development of mineral resource properties in the critical and electric metals sector. The Company’s flagship asset is the Jemi HREE project located in Coahuila, Mexico near the Texas, USA border which the Company has an option to acquire 100% of the 3,650-hectare project. The Company has an option to acquire a 75% interest and title to the Laguna Blanca project located in Chile; and the Company has an option to acquire a 50.01% interest and title to the Turi project located in Chile.
On behalf of the Board of Directors,
/s/ “Jamil Sader”
Jamil Sader, Chief Executive Officer and Director
Contact Information:
Email: [email protected]
Or
Maximilian Sali, VP Corporate Development and Director
Email: [email protected]
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Forward Looking Information
This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, the potential plans for the Company’s projects, the exploration plans on the Company’s projects, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner and that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR at www.sedar.com. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, failure to secure personnel and equipment for work programs, adverse weather and climate conditions, risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological assumptions, failure to maintain all necessary government permits, approvals and authorizations, failure to obtain surface access agreements or understandings from local communities, land owners or Indigenous groups, fluctuation in exchange rates, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to, the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, decrease in the price of rare earth elements, lithium, cesium and other metals, loss of key employees, consultants, or directors, failure to maintain community acceptance (including from the Indigenous communities), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
