VANCOUVER, BC, June 25, 2024 /CNW/ - Monumental Energy Corp. ("Monumental" or the "Company") (TSXV: MNRG) (FSE: ZA6) (OTCQB: MNMRF) is pleased to announce the latest Chilean Government update in the context of its Lithium Strategy. In April 2024, Chile, through its Ministry of Mines, announced the process for Chilean and foreign investors to express interest in developing projects to explore and/or exploit lithium from deposits located in Chile. Consequently, the Ministry of Mines approved the procedure in order to file for a Request for Information ("RFI") which is intended to express interest in developing the exploration, exploitation and processing of Salt Flats located in Chile. This RFI process will allow the Government of Chile to evaluate the conditions, mechanisms and requirements for granting special lithium operation contracts (CEOL).
Monumental, through its Chilean subsidiary, Monumental Minerals Chile SpA, announces that on June 17, 2024, it filed a RFI to express interest in the exploration and potential exploitation of its 'Project Laguna Blanca', located in the Laguna Blanca Salt Flat. The Company acknowledges the Chilean Government's prioritization of available areas of interest and confirms that the Laguna Blanca Salt Flat has not been categorized as a protected brine system, that consequently, is considered an eligible territory for this RFI process.
Appoints Daniel Weinstein from Chile to Advisory Board
With over two decades of legal experience in the mining and natural resources sector, Daniel has spearheaded mining-related transactions exceeding USD $22 billion across five continents, focusing particularly on Chile. His expertise covers critical industry aspects, from the commercial facets of the mining business to a deep understanding of the ever-evolving regulatory landscape.
Daniel joined Urzua Abogados in 2022 after a successful career of nine years (2004 – 2013) in renowned law firms in Chile and abroad, followed by another nine years leading the legal departments of prestigious companies, as Head of Legal for Chile and Peru at SNC-Lavalin (2013 – 2014); General Counsel at Quantum Pacific Exploration (2014 – 2017); and finally, as Legal Manager of BHP (2017 – 2021). At BHP, he led the legal teams responsible for Exploration globally, for the Projects and Commercial areas of the Minerals Americas division, and for the Potash business unit in Canada.
Mr. Weinstein has been a director of mining companies and serves as President of the Advisory Council of the Ministry of Mining.
Daniel holds a Bachelor of Laws (J.D. equivalent), summa cum laude, from the Universidad de Chile and a Master of Laws from the University of Chicago. He is a frequent speaker at national and international seminars and post-graduate courses on the legal aspects of mining. He is part of the leadership of mining and construction trade associations and, additionally, he regularly advises governmental entities and trade associations on mining-related matters.
Michelle DeCecco, CEO, remarked, "This is an exciting time for Monumental Energy. Following last month's 19% year-over-year increase in EV sales, the RFI process is intended to advance Chile's lithium industry by leveraging its position as the world's largest stakeholder in lithium reserves. We have a lot of work ahead and having Mr. Weinstein join our Advisory Board will provide the expertise we need to continue in the right direction."
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 61 exploration concessions totaling 14,700 hectares, 100% owned by Lithium Chile through its wholly owned Chilean subsidiary Minera Kairos Chile Limitada. Monumental Energy has an option to acquire a 75% interest and title to the Laguna Project. The Laguna Blanca Project includes both active and paleo salar brines and salts with samples including 1230 mg/l from surface.
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 owns securities of New Zealand Energy Corp.
On behalf of the Board of Directors,
/s/ "Michelle DeCecco"
Michelle DeCecco, CEO
Contact Information:
Michelle DeCecco, Chief Executive Officer and Director
Email: michelle@monumental.energy
Or
Maximilian Sali, VP Corporate Development and Director
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.
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 expectations and expected results from the RFI for the Laguna project, other statements relating to the technical, financial and business prospects of the Company, its projects, its goals 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 or obtain all necessary government permits, approvals and authorizations, failure to obtain or maintain surface access agreements or understandings from local communities, land owners or Indigenous groups, fluctuation in exchange rates, the impact of 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 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.
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