October 4, 2016 – Vancouver, British Columbia- Nevada Energy Metals Inc. “the Company”, TSX-V: BFF (OTCQB: SSMLF) (Frankfurt: A2AFBV) is pleased to announce that a sampling program designed to test for lithium values in surface soils and/or playa evaporates has been initiated at the Company’s 100% owned San Emidio Desert property. Geochemical sample points are being arranged on a grid pattern of eighteen lines spaced 400 meters apart with stations every 200 meters along the lines. It is expected that 172 sample points will be measured. Results should be available in approximately three weeks.
About the San Emidio Lithium Project:
The property now includes 155 claims (approximately 3,100 acres/1255 hectares) in the San Emidio Desert, Washoe County, Nevada, 95 km northeast of Reno. The San Emidio Desert basin is an alkali playa environment underlain by unconsolidated sediments and clays being fed by lithium bearing geothermal fluids (US. Geothermal analyses) reported in bounding faults, and/or faults along the east side of the basin. Since mid-Tertiary time, the rocks on the eastern edge of the San Emidio Desert have undergone extensive hydrothermal alteration. The presence of near-surface thermal fluids suggest that the thermal fluids represent deep circulation of meteoric water (Moore, J.N., 1997). The property adjoins the Empire Geothermal Power Plant “Empire” with production of 4.6 MW of electricity from a 155°C resource thereby providing a substantial heat source for the circulation of meteoric groundwater believed important in the formation of lithium brine deposits as found at Clayton Valley, Nevada, host to North America’s preeminent lithium brine production. US Geothermal has reported anomalous lithium values in the trace element analysis of their geothermal brines at Empire.
Nevada Energy Metals has acquired a 100% interest in the San Emidio Desert 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:
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 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; On July 15, 2016 Nevada Energy Metals has agreed to an Option Agreement where Wildcat Exploration Ltd. (TSX-V:WEL) can acquire a 100% interest, subject to a 3% Net Smelter Royalty, in 348 of 911 mineral claims located in Dixie Valley, Churchill County, Nevada. 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.