Empire Rock Minerals Inc. (TSX.V symbol “EPR”) is pleased to announce that its option agreement to acquire a 100% interest in the Well Permit has been accepted for filing by the TSX Venture Exchange.
Well Permit is strategically located within the boundaries of, and contiguous to, Empire’s Fox Creek Lithium Project. Previous development makes the Well Permit a very important acquisition for Empire. More than $175,000 in development expenditures have been incurred associated with the exploration, development and potential future production of lithium carbonate from brines produced from existing petroleum production wells in the Well Permit area.
More than 100 existing wells, with numerous pipelines, petroleum production batteries and the Kabob South petroleum processing plant, are located within the boundaries of the Well Permit.
The Well Permit is a 6,912 hectare (17,080 acre) metallic and industrial mineral permit which allows Empire to potentially recover lithium, potassium, boron, bromine and other important elements from brines underlying the permit area.
Empire’s acquisition of the Well Permit will essentially complete Empire’s coverage of the entire Beaverhill Lake Brine aquifer system, which is hosted within the Devonian-aged Beaverhill Lake carbonate reef complex. The saline formation waters (“Brine”) of the Beaverhill Lake Brine aquifer system are currently being recovered with the commercial production of petroleum products, mostly gas and condensate, from producing wells at Fox Creek where lithium and potassium enriched brine is treated to separate and extract petroleum products then injected back into subsurface formations as a product.
With the acquisitions of interests in the Well Permit and the Fox Creek Lithium Brine Project, Empire has assembled the rights to extract lithium, potassium, boron, bromine, magnesium and other important elements from more than 764,000 contiguous acres (309,000 hectares) covering numerous producing oil and gas fields at Fox Creek, Alberta, Canada.
Empire has issued 50,000 common shares in its capital to the optionors and made a $10,000 cash payment. The shares are restricted from trading until October 2, 2016. 50,000 additional shares Empire Rock Minerals Inc. News Release July 4, 2016 and a further $10,000 payment are required for Empire to acquire 100% of the Well Permit, subject to a 2.0% royalty.
Empire is a Canadian exploration and development company focused on the emerging green energy sector. Empire also owns a 100% interest in the Buck Lake platinum, palladium, nickel discovery located 25 km west of the Lac des Iles mine near Thunder Bay, Ontario, Canada; an interest in the Graphite West Project – a prospective hydrothermal graphite exploration target located immediately west of Zenyatta Ventures Ltd.’s Albany hydrothermal graphite deposit; and the Gwyn Lake gold property in Ontario. Empire’s common shares are listed and called for trading on the TSX Venture Exchange with the trading symbol “EPR”.
This news release has been reviewed and approved for technical content by Mr. Michael Dufresne, P.Geol. (Alberta), P.Geo. (B.C.) and Dr. Bohumil (Boris) Molak, P.Geo. (B.C.) consulting geologists and Qualified Persons as defined by National Instrument 43-101.
For further information contact: Lisa M. Chapman, President
E-mail: [email protected]
Tel: 604.683.3288 ext. 1009
EMPIRE ROCK MINERALS INC.
PER: “Lisa M. Chapman”
LISA M. CHAPMAN
President & CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC’s mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.