Month: October 2016

· Battery grade lithium carbonate samples from pilot plant have been distributed to Japan for preliminary appraisal and testing by end-users

· Completion of 4,000-metre infill drilling programme on the Sonora project to upgrade a portion of the current Indicated Mineral Resource to a Measured category

· Updated resource model anticipated to be completed in Q4 2016 after which mine planning and open pit design will commence

· BFS on track to be delivered in late Q1 2017

Bacanora CEO Peter Secker said, “The Sonora Lithium Project has demonstrated its potential to deliver high grade lithium carbonate to the market with operating costs which could position it very favorably in comparison to its peers. The team continues to prove that it has the lithium operations and mine development expertise to attain key milestones and incrementally build project and shareholder value, something recognised by the Company’s institutional backing.”

“The level of project detail required for the permits is not dissimilar from what will be ultimately utilized in our Pre-Feasibility Study,” said Darren Koningen, President at Minera Alamos. “Once these applications are submitted, we can turn our attention to the final plan optimization and completion of that study. In tandem, we will initiate the refurbishment and staging of the plant in Mexico and begin an exploration program focused on expanding our existing resource base”.

Managing Director Will Dix commented “Expanding the platform for drilling has given us the ability to drill further down dip and obtain better intersection angles into the mineralisation. Continuing to intersect massive sulphides down dip and now identifying new mineralisation up-dip above level 7 re-enforces the potential for accumulating resource tonnes in the mine area. We will continue to drill aggressively to build as much of a mineral inventory during the remainder of 2016.”

In May 2016, the Company executed a letter of intent to acquire up to 10 mineral concessions covering 16 known Lithium, Potassium and Boron-rich salars located in the States of Zacatecas and San Luis Potosi, Mexico. Upon review of the technical data including a property examination by the Company and its advisors, the Company elected to acquire 4 large concessions containing the 7 top priority salars which include Caliguey, La Doncella, Colorada, La Salada, Santa Clara, Saldivar and Chapala and several smaller earlier-stage salars. The Company selected these salars due to their attractive lithium, potassium and boron values from limited shallow sampling of the unconsolidated material down to a depth of five metres. Of particular interest is the La Salada salar where preliminary and unaudited analyses of samples from the southern half of the salar returned grades frequently exceeding 1500 mg/l with occasional values over 2000 mg/l lithium, 8% potassium and 60 mg/l boron. The depth and grade beneath 5m is unknown at this time but preliminary geophysical surveys indicate a possible depth of 70 metres.

Telson Resources Inc. announces that it completed the collection of its 2,000 tonne industrial scale bulk sample from the El Creston zone on its Tahuehueto Project during the last week of September 2016. The bulk sample is in the process of being shipped to the Andes Mill where processing is scheduled to commence within the next week in order to produce saleable lead and zinc concentrates. Based upon previous metallurgical testing conducted in 2010, the Company anticipates the significant gold content contained within the mineralization of the bulk sample to report to and be recovered within, the lead concentrate.