Western Lithium
Changes Name to Western Lithium USA Corporation
May
28, 2010
Reno, Nev., USA: Western Lithium Canada
Corporation (TSX-V: WLC; PK: WLCDF) will change its name to Western Lithium
USA Corporation, effective May 31, 2010.
“The new name is more
reflective of our focus on the planned development of one of the world’s
largest known lithium deposits, strategically located in Nevada, USA,” said
Jay Chmelauskas, Western Lithium’s President.
“The first stage of a potential multi-stage project is envisioned to supply
enough lithium for up to one million electric and hybrid cars annually that would
use lithium-ion batteries to store power.”
The stock symbols will
not change and no exchange of share certificates is required as a result of
this name change.
Western Lithium is
developing the Kings Valley, Nevada lithium deposit into potentially one of
the world’s largest(1) strategic, scalable and reliable sources of
high quality lithium carbonate. The Company is positioning itself as a
major U.S.-based supplier to support the rising global demand for lithium
carbonate that is expected from the increased use of mobile electronics and
hybrid/electric vehicles.
For further
information contact:
Western Lithium Corporation
Cindy Burnett, Investor Relations
Telephone: 604-331-9842
Email: info@westernlithium.com
Website: www.westernlithium.com
(1) Western
Lithium has completed National Instrument 43-101 resource estimates on two
portions of the property, one of which is envisioned for the initial stage of
mine development. These resources cover part of the mineralization from
a historical estimate of 11 million tonnes of lithium carbonate equivalent
(LCE) prepared by Chevron Resources Corp. in the 1980s that encompasses all
of the King’s Valley lithium lens deposits identified to date, and ranks in
size behind deposits in Bolivia (47 million tonnes LCE), Chile (37 million
tonnes LCE), North Carolina (14 million tonnes LCE) and the DRC (12 million
tonnes LCE). Source: R. Keith Evans, 2010; Roskill Information
Services Ltd., 2009; and company disclosures. A qualified person has
not done sufficient work to classify the historical estimate as current
mineral resources under National Instrument 43-101, the Company is not
treating the historical estimate as current mineral resources and the
historical estimate should not be relied upon.
Forward
Looking Statements
Certain of the statements made and information contained herein is “forward-looking
information” within the meaning of the Ontario Securities Act. Forward-looking
information is subject to a variety of risks and uncertainties which could
cause actual events or results to differ from those reflected in the
forward-looking information, including, without limitation, risks and
uncertainties relating to risks inherent in mining including environmental
hazards, industrial accidents, unusual or unexpected geological formations,
ground control problems and flooding; risks associated with the estimation of
mineral resources and reserves and the geology, grade and continuity of
mineral deposits; the possibility that future exploration, development or
mining results will not be consistent with the Company’s expectations; the
potential for and effects of labour disputes or other unanticipated
difficulties with or shortages of labour or interruptions in production;
actual ore mined varying from estimates of grade, tonnage, dilution and
metallurgical and other characteristics; the inherent uncertainty of
production and cost estimates and the potential for unexpected costs and
expenses, commodity price fluctuations; uncertain political and economic
environments; changes in laws or policies, delays or the inability to obtain
necessary governmental permits; and other risks and uncertainties, including
those described in each management discussion and analysis. Forward-looking
information is in addition based on various assumptions including, without
limitation, the expectations and beliefs of management, the assumed long term
price of lithium; appropriate equipment and sufficient labour and that the
political environment where the Company operates will continue to support the
development and operation of mining projects. Should one or more of these risks
and uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described in the
forward-looking information. Accordingly, readers are advised not to
place undue reliance on forward-looking information.
The TSX
Venture Exchange has neither approved or disapproved of the contents of this
press release. 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 press
release.
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Lithium Corporation. All rights reserved.
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