Vancouver, British Columbia--(Newsfile Corp. - September 13, 2024) - Cruz Battery Metals Corp. (CSE: CRUZ) (OTC Pink: BKTPF) (FSE: A3CWU7) ("Cruz" or the "Company") is pleased to announce recent developments by our neighbors within the Clayton Valley, Nevada. On September 10, 2024, SLB (formerly Schumberger) announced that "… it has proven its solution for sustainable lithium production at scale at its demonstration plant in Clayton Valley, Nevada, to accelerate responsibly-sourced lithium products to market. The proprietary integrated solution combines SLB's subsurface expertise with surface engineering of advanced technologies that include direct lithium extraction (DLE). It produces lithium 500 times faster than conventional methods while using only 10 percent of the land. Operating at approximately one tenth the size of a commercial-scale facility, the plant reached a verified recovery rate1 of 96% lithium from brine." Gavin Rennick, president of SLB's New Energy business stated, "SLB's demonstration plant in Clayton Valley proves our unique integrated approach to produce scalable quantities of lithium in the fastest, most economical and sustainable way for today's market." Cruz's Clayton Valley Lithium Brine Project is completely surrounded by the Pure/SLB Clayton Valley Project (see map) and is located in some of the deepest sections of this basin. Cruz management cautions that past results or discoveries on properties in proximity to Cruz Battery Metals may not necessarily be indicative of the presence of mineralization on the company's properties.
James Nelson, President of Cruz states, "We wish to congratulate SLB & Pure Energy on their recent success, and we foresee this as a potential catalyst that can draw the attention of the lithium world back to Clayton Valley for years to come. The fact that SLB has been able to achieve scalable lithium production at a much more efficient rate and at such a high purity is a game changer in terms of the potential production expansion ahead for the Clayton Valley of Nevada and its stakeholders." Cruz President James Nelson went on to say, "The upcoming spin-out of the Hector Project into its own public company (announced Aug. 1 & Sept. 6, 2024) presents an exciting time for current and future Cruz shareholders of record. Cruz shareholders of record will receive free shares of Makenita Resources Inc. and still maintain full ownership of their Cruz shares as well. In order to receive the Makenita shares you must be a shareholder of record of Cruz. This record date is expected to be announced shortly. This is truly a win-win for Cruz shareholders of record."
Cruz Battery Metals Ownership Map
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About Cruz Battery Metals Corp.
Cruz currently has several projects located throughout North America. Cruz's Nevada lithium projects consist of the 4,938-acre 'Solar Lithium Project' and the 240-acre 'Clayton Valley Lithium Project'. Cruz's 5.542-acre Hector Property is located in the vicinity of the town of Cobalt, Ontario, which is prospective for cobalt, silver and diamonds. In the USA, Cruz's has the 124-acre 'Idaho Cobalt Belt Project'. Management cautions that past results or discoveries on properties in proximity to Cruz may not necessarily be indicative of the presence of mineralization on the Company's properties.
If you would like to be added to Cruz's news distribution list, please send your email address to info@cruzbatterymetals.com.
Cruz Battery Metals Corp.
"James Nelson"
James Nelson
President, Chief Executive Officer, Secretary and Director
For more information regarding this news release, please contact:
James Nelson, CEO and Director
T: 604-899-9150
Toll free: 1-855-599-9150
E: info@cruzbatterymetals.com
W: www.cruzbatterymetals.com
Twitter: @CruzBattMetals
Forward-Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including whether or not the Company will proceed with the Spin-Out as currently proposed or at all, the anticipated timeline of the Spin-Out, the expected terms and structure of the Spin-Out and the parties' ability to satisfy closing conditions and receive necessary approvals and the belief that the Spin-Out will provide value as a stand-alone asset. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements such as the inability to obtain regulatory, Court or shareholder approval, the inability of Cruz or SpinCo to finance growth and transactions expenses, and other risks as set out in the Company's periodic disclosure documents available on SEDAR+. Although such statements are based on management's reasonable assumptions, there can be no assurance that the Spin-Out will occur or that, if the Spin-Out does occur, it will be completed on the terms described above. The Company does not assume any responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.
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SOURCE: Cruz Battery Metals Corp.
