October 27, 2016 – Vancouver, British Columbia- Nevada Energy Metals Inc. “the Company”, TSX-V: BFF (OTCQB: SSMLF) (Frankfurt: A2AFBV) is pleased to announce that highly encouraging results have been received from a sampling program designed to test for lithium values in surface soils and/or playa evaporates at the 100% owned San Emidio Desert Project.
A total of 172 samples were collected with Lithium values ranging from 30.3 to a high of 600 ppm (30 mg/L to 600mg/L) with a median value of 215 ppm (215mg/L). Thirty-two samples were above 300 ppm (300mg/L) and 13 were over 400 ppm (400/mg/L).
Geochemical sample points were arranged on a grid pattern of seventeen east-west lines spaced 400 meters apart north-south, with stations every 200 meters along the lines. Samples were collected by a contract crew and transported to the ALS sample preparation lab in Elko, Nevada. Samples were screened to -80 mesh at the ALS prep lab in Reno, Nevada and analyzed by Aqua Regia leach mass spectrometry at the ALS laboratory in North Vancouver, B.C. Canada. QA/QC standards were inserted into the sample stream with one in twenty samples being a standard. All standards were within 3% of their accepted values.
About the San Emidio Desert (SED) Lithium Project:
The San Emidio Desert Project consists of 143 placer claims in total, covering about 1156 hectares (4.5 square miles) of playa and alluvial fan in the San Emidio Desert, Nevada, about 98 air-line km north-northeast of Reno, Nevada. The property is adjacent to the 9 MW Empire geothermal power generation facility of U.S. Geothermal Inc. power and a vegetable dehydration plant exploiting the active geothermal system. Gravity survey results indicate the depth of valley fill to be approximately 1,800 meters and that there is subsurface closure of the valley a short distance to the north of the claim block. The basin is fed by anomalous lithium bearing geothermal fluids interpreted to be meteoric waters heated by relatively deep circulation in the earth’s crust.
The San Emidio Desert results are comparable to those obtained at Clayton Valley, Nevada (300 – 1,100 ppm Li). Additional work is required to determine what relationship, if any, exists between Lithium values in brine concentrates and Lithium values found in surface soils and/or playa evaporates.
Importantly, these results show that dissolved lithium has been transported into this portion of the San Emidio Desert and is available for potential concentration by evaporative brines. The exploration model for the San Emidio Desert Project is a Clayton Valley evaporative brine deposit as described in USGS Open File Report 2013-1006.
Nevada Energy Metals has acquired a 100% interest in the property, free of royalty payments.
Qualified Person: The technical content of this news release has been reviewed and approved by Alan Morris CPG, Elko, Nevada.
About Nevada Energy Metals: https://nevadaenergymetals.com/
Nevada Energy Metals Inc. is a well funded, Canadian based, exploration company who’s primary listing is on the TSX Venture Exchange. The Company’s main exploration focus is directed at lithium brine targets located in the mining friendly state of Nevada. The Company has ownership of 77 claims in Clayton Valley, only 250m from Rockwood Lithium, the only brine based lithium producer in North America (70% optioned-out to American Lithium Corp (TSX-V: Li). Nevada Energy Metals has also acquired, 100 claims (Teels Marsh West) covering 2000 acres (809 hectares) at Teels Marsh, Mineral County, Nevada, a prospective lithium exploration project, 100% owned without any royalties; the San Emidio Desert lithium project, consisting of 155 claims (approximately 3,100 acres/1255 hectares) in Washoe County, Nevada; the Alkali Lake Project in Esmeralda county, is a 60% earn in option agreement from Dajin Resources Corp (TSX-V: DJI), where near surface lithium values have been confirmed; the Dixie Valley Project consisting of 911 claims covering 73.6 square kilometres/28.4 square miles (7,363 hectares/18,194 acres) of salt marsh playa. Of the seven characteristics favourable for the formation of a lithium brine deposit as outlined in the U.S. Geological Survey deposit model, all seven are found in Dixie Valley. The lithium deposit model for Dixie Valley is a Clayton Valley-style brine deposit.
On Behalf of the Board of Directors
Rick Wilson, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the contents of this release.
Disclaimer for Forward-Looking Information:
The information discussed in this press release may include “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933 (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”). All statements, other than statements of historical facts, included herein concerning, among other things, planned capital expenditures, future cash flows and borrowings, pursuit of potential acquisition opportunities, our financial position, business strategy and other plans and objectives for future operations, are forward looking statements. These forward looking statements are identified by their use of terms and phrases such as “may,” “expect,” “estimate,” “project,” “plan,” “believe,” “intend,” “achievable,” “anticipate,” “will,” “continue,” “potential,” “should,” “could,” and similar terms and phrases. Although we believe that the expectations reflected in these forward looking statements are reasonable, they do involve certain assumptions, risks and uncertainties and are not (and should not be considered to be) guarantees of future performance. It is important that each person reviewing this release understand the significant risks attendant to the operations of the Company. Nevada Energy Metals Inc. disclaims any obligation to update any forward-looking statement made herein.