VANCOUVER, BC, May 7, 2024
/CNW/ - Monumental Energy Corp. ("Monumental" or the
"Company") (TSXV: MNRG) (FSE: BE5) (OTCQB: MNMRF) is pleased
to announce the latest Chilean Government update on its Lithium
Strategy. On April 15, 2024,
Chile, through its Ministry of
Mines, launched the process for Chilean and foreign investors to
express interest in developing projects to explore and/or extract
lithium from deposits located in Chile. Under this strategy, the Ministry of
Mines has approved the procedure for the Request for Information
("RFI") which is intended to obtain the information
necessary to promote the implementation of projects for the
exploration, extraction and processing of lithium deposits and to
design the mechanisms, requirements and conditions for granting
special lithium operation contracts.
Monumental, through its Chilean subsidiary, Monumental Minerals
Chile SpA, announces its plan to file a RFI to pursue necessary
exploration for future lithium operation contracts related to
'Project Laguna Blanca'. The Company acknowledges the Chilean
Government's prioritization of areas of interest and confirms that
the Laguna Blanca Brine System falls within eligible territories
for the RFI process.
Michelle DeCecco, CEO remarks,
"These announcements affirm Chile's commitment to upholding its role as a
leading lithium player for the global energy transition. I commend
Chile for facilitating the
involvement of companies like Monumental Energy in the national
lithium market. Moving forward, we remain dedicated to proactive
engagement and collaborative with the Government and the local
communities in our Project's area."
About Salar De Laguna
Blanca
The Laguna Project is located within the prolific lithium
triangle, a zone within the central Andes high desert that includes
Chile, Argentina, and Bolivia. This zone is estimated to contain
more than half of the world's lithium supply beneath the many salt
flats, also known as salars, that are common to the
region. The Laguna Blanca property consists of 51 exploration
concessions totaling 12,425 hectares, 100% owned by Lithium Chile
through its wholly owned Chilean subsidiary Minera Kairos Chile
Limitada. The Laguna Blanca Project includes both active and paleo
salar brines and salts with samples including 1230 mg/l from
surface.
About Monumental Energy Corp.
Monumental Energy Corp. is an exploration company focused on the
acquisition, exploration, and development of properties in the
critical and clean energy sector. The Company has an option to
acquire a 75% interest and title to the Laguna cesium-lithium brine
project located in Chile. The
Company holds a 2% net smelter return royalty on Summit Nanotech's
share of any future lithium production from the Salar de Turi
Project. The Company has an option to acquire a 100% interest in
the Jemi HREE project located in Coahuila, Mexico near the Texas, USA border. The Company owns securities
of New Zealand Energy Corp.
On behalf of the Board of Directors,
/s/ "Michelle DeCecco"
Michelle DeCecco, CEO
Contact Information:
Email: michelle@monumental.energy
Or
Maximilian Sali, VP
Corporate Development, Director and founder
Email: max@monumental.energy
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 adequacy or
accuracy of this news release.
Forward Looking Information
This news release contains "forward–looking information or
statements" within the meaning of applicable securities laws, which
may include, without limitation, the potential plans for the
Company's projects, the plan to file a RFI for the Laguna project,
other statements relating to the technical, financial and business
prospects of the Company, its projects and other matters. All
statements in this news release, other than statements of
historical facts, that address events or developments that the
Company expects to occur, are forward-looking statements. Although
the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and actual
results may differ materially from those in the forward-looking
statements. Such statements are based on numerous assumptions
regarding present and future business strategies and the
environment in which the Company will operate in the future,
including the price of metals and the price of oil and gas, the
ability to achieve its goals, that general business and economic
conditions will not change in a material adverse manner and that
financing will be available if and when needed and on reasonable
terms. Such forward-looking information reflects the Company's
views with respect to future events and is subject to risks,
uncertainties and assumptions, including the risks and
uncertainties relating to the interpretation of exploration
results, risks related to the inherent uncertainty of exploration
and cost estimates and the potential for unexpected costs and
expenses and those other risks filed under the Company's profile on
SEDAR at www.sedarplus.ca. While such estimates and assumptions are
considered reasonable by the management of the Company, they are
inherently subject to significant business, economic, competitive
and regulatory uncertainties and risks. Factors that could cause
actual results to differ materially from those in forward looking
statements include, but are not limited to, continued availability
of capital and financing and general economic, market or business
conditions, failure to secure personnel and equipment for work
programs, adverse weather and climate conditions, risks relating to
unanticipated operational difficulties (including failure of
equipment or processes to operate in accordance with specifications
or expectations, cost escalation, unavailability of materials and
equipment, government action or delays in the receipt of government
approvals, industrial disturbances or other job action, and
unanticipated events related to health, safety and environmental
matters), risks relating to inaccurate geological assumptions,
failure to maintain all necessary government permits, approvals and
authorizations, failure to obtain surface access agreements or
understandings from local communities, land owners or Indigenous
groups, fluctuation in exchange rates, the impact of Covid-19 or
other viruses and diseases on the Company's ability to operate,
capital market conditions, restriction on labour and international
travel and supply chains, decrease in the price of rare earth
elements, lithium, cesium and other metals, decrease in the price
of oil and gas, loss of key employees, consultants, or directors,
failure to maintain or obtain community acceptance (including from
the Indigenous communities), increase in costs, litigation, and
failure of counterparties to perform their contractual obligations.
The Company does not undertake to update forward–looking statements
or forward–looking information, except as required by law.
SOURCE Monumental Minerals Corp.
