VANCOUVER, British Columbia, Oct. 11, 2017 (GLOBE NEWSWIRE) -- NRG Metals Inc. (the “Company”) (“NRG” or the “Company”) (TSX-V:NGZ) (OTCQB:NRGMF) (Frankfurt:OGPN), is pleased to announce that AGV Falcon Drilling SRL of Salta, Argentina has mobilized onto Salar Escondido and is preparing to commence drilling of the Company’s initial drill hole on the property.
As previously reported, AGV has extensive experience in the drilling of salar targets in Argentina, including the Rincon, Cauchari and Rio Grande salars.
The Company had previously announced that they had completed the drilling of a water well on the property on October 6, 2017.
Jose De Castro, the Chief Operating Officer of the Company is at the property and will be overseeing this drill program. Mr. De Castro commented, “We are very excited to commence drilling at Salar Escondido and to be working with AGV Falcon to explore this paleo-Salar where we own a majority the lithium rights in the basin.”
About the Company
NRG Metals Inc. is an exploration stage company focused on the advancement of lithium brine projects in Argentina. In addition to the Salar Escondido lithium project, the Company is evaluating the 3,287 hectare Hombre Muerto North lithium project in the province of Salta. The Hombre Muerto North project is located at the northern end of the prolific Hombre Muerto Salar, adjacent to FMC’s producing Fenix mine and Galaxy Resources’ Sal de Vida development stage project. As announced in a press release dated July 13, 2017, the Company has filed an Environmental Impact Study and applied for permits to drill the Hombre Muerto North Project.
NRG Metals Inc. currently has 73,905,885 shares issued and outstanding and trades on the TSX Venture Exchange under symbol NGZ, on the OTCQB Market under symbol NRGMF, and on the Frankfurt Stock Exchange under symbol OGPN.
On Behalf of the Board of Directors
President, CEO and Director
The TSX Venture Exchange has not reviewed the content of this news release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this news release.
This news release is not for distribution or dissemination in the United States and accordingly, shall not constitute an offer of securities in the United States. The securities that may be issued pursuant to this news release are not currently qualified by prospectus or registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or the laws of any state, and may not be offered or sold in the United States, or to, or for the account or benefit of United States persons (as defined in Regulation S under the Securities Act) or persons in the United States absent registration or an applicable exemption from the registration requirements. The securities are subject to resale restrictions under applicable securities laws.
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. The transaction described in this news release is subject to a variety of conditions and risks which include but are not limited to: regulatory approval, shareholder approval, market conditions, legal due diligence for claim validity, financing, political risk, security risks at the property locations and other risks. As such, the reader is cautioned that there can be no guarantee that this transaction will complete as described in this news release. We seek safe harbour.