June 26, 2023 / Vancouver, BC / Lithium South Development Corporation (the “Company”) (TSX-V: LIS) (OTCQB: LISMF) (Frankfurt OGPQ). Given recent industry news regarding Direct Lithium Extraction technology, the Company is providing an update regarding the lithium extraction technology it intends to apply at its Hombre Muerto North Lithium Project. (HMN Li Project), located in Salta Province, Argentina.
As previously disclosed, the Company is developing the HMN Li Project with traditional, industry proven, evaporation extraction technology. Evaporation test ponds have been located on the Tramo Claim Block and are currently filled and under twenty-four-hour monitoring. The purpose is to validate evaporation as the lithium extraction technology of choice for this salar application.
Brine at the HMN Li Lithium Project is high-grade with low impurities. The newly completed resource expansion drill program at the Alba Sabrina and Natalia Maria Claim blocks has identified very good lithium grades up to 1176 milligrams per liter lithium. Magnesium, the main contaminant of concern in any lithium brine project, remains at a low ratio of 2.66 to 1.
Test work is currently near completion regarding the production of industrial grade, and battery grade lithium carbonate from HMN Li brine. Results are expected in the near future. The Company remains committed to moving the HMN Li Project forward using the best suited technology for lithium extraction, balancing risk, and reward.
About Lithium South
Lithium South (LIS) owns 100% of the Hombre Muerto North Lithium Project (HMN Li Project) located in Salta Province, Argentina, the heart of the lithium triangle. The Hombre Muerto Salar has a history of lithium production with Livent Corporation in operation for over twenty-five years just south of the HMN Li Project. The HMN Li Project is surrounded by a US$4 billion lithium development underway by POSCO (Korea) and the Sal de Vida Project under development by Allkem. LIS has delineated a NI 43-101 Lithium Carbonate Equivalent (LCE) resource on the Tramo claim block, one of five non-contiguous blocks that make up the HMN Li Project. Recent drilling on the Alba Sabrina and Natalia Maria claim blocks have identified additional lithium zones that will allow a new and potentially larger LCE resource to be defined. LIS is now transitioning from being a lithium explorer to becoming a lithium developer.
The technical and scientific information in this press release was reviewed and approved by Mr. William Feyerabend, CPG, a Consulting Geologist and a Qualified Person under National Instrument 43-101, who also participated in its production.
On behalf of the Board of Directors
Adrian F. C. Hobkirk
President and Chief Executive Officer
Investors / Shareholders call 855-415-8100 / website: www.lithiumsouth.com
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This news release contains certain “forward-looking statements” within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward-looking statements. The reader is cautioned not to place undue reliance on forward- looking statements. We seek safe harbor.