Lithium Corporation Acquires BC Sugar Property
June 18 2013 - 6:00AM
Business Wire
Lithium Corporation (OTCBB: LTUM) (the "Company", or “Lithco”)
is pleased to announce that it has recently acquired a new Graphite
(BC Sugar) prospect in the Shuswap area of British Columbia, in an
under-explored area. In addition to the acquired claim, Lithco has
also staked another four claims, to bring the total area to be
explored by the Company to 3,405.77 acres (1,378.27 hectares).
Although graphite has been identified locally in marbles, it has
become apparent that graphite is also hosted here in quartz,
biotite/mica gneisses, and also in calc-silicate gneisses. The host
rocks at BC Sugar are similar to the host rocks in the area of the
Crystal Graphite deposit 55 miles (90 kms) to the Southeast, where
Lithium Corporation holds the Mt Heimdal block of claims.
The Company made an outright purchase of a 100% interest in the
prospect in exchange for 250,000 shares of Lithco, and there are no
further encumbrances or other obligations relating to the
purchase.
Lithium Corporation has mobilized a field crew to the prospect
to initiate geological mapping & prospecting immediately.
In addition to the BC Sugar property, the Company continues work
on its Fish Lake Valley prospect, and its San Emidio property, and
continues to generate and evaluate other prospects. The Company
anticipates that the next round of drilling at Fish Lake Valley
will commence in July, subject to contractor availability.
For further information please contact Andy Dewey at Lithium
Corporation at (775) 410-2206 or via email at info@lithiumcorporation.com
About Lithium Corporation
Lithium Corporation is an exploration company based in Nevada
devoted to the exploration for new lithium resources within the
Great Basin. The Company explores and develops potentially economic
lithium-enriched brine fields, with an eye to becoming a long-term
producer of this increasingly strategic and economically important
commodity. In keeping with its focus on producing materials for
lithium ion battery manufacture, the Company now currently has two
active graphite prospects in BC – the Mount Heimdal prospect &
the BC Sugar property, and anticipates working on both this
summer.
Notice Regarding Forward-Looking Statements
This current report contains "forward-looking statements," as
that term is defined in Section 27A of the United States Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Statements in this press release which are not purely historical
are forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the future,
including but not limited to, any mineralization, exploration and
development of our mineral properties, specifically in regards to
any future drilling programs.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
mineral exploration and difficulties associated with obtaining
financing on acceptable terms. We are not in control of minerals
prices and these could vary to make development uneconomic. These
forward-looking statements are made as of the date of this news
release, and we assume no obligation to update the forward-looking
statements, or to update the reasons why actual results could
differ from those projected in the forward-looking statements.
Although we believe that the beliefs, plans, expectations and
intentions contained in this press release are reasonable, there
can be no assurance that such beliefs, plans, expectations or
intentions will prove to be accurate. Investors should consult all
of the information set forth herein and should also refer to the
risk factors disclosure outlined in our most recent annual report
for our last fiscal year, our quarterly reports, and other periodic
reports filed from time-to-time with the Securities and Exchange
Commission.
Lithium CorporationAndy Dewey, 775-410-2206info@lithiumcorporation.com
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