Resolve Ventures Inc

Published : May 31st, 2016

Resolve Ventures Announces Neptune Lithium Projet Phase 1 Drilling Results

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Keywords :   Junior | Lithium | Silver | Target | Trap | Water |

Resolve Ventures Announces Neptune Lithium Projet Phase 1 Drilling Results


For Immediate Release May 31, 2016

Trading Symbol: RSV - TSX-V



Vancouver, British Columbia - Resolve Ventures Inc. ("Resolve" or the "Company") (TSXV: RSV) is pleased to announce Phase 1 exploration results from the drilling program at the Neptune Lithium Project ("Neptune") located in the southern Clayton Valley of Nevada, USA.

The operator of the project, Nevada Sunrise Gold Corp. ("Nevada") (TSXV: NEV), has completed two exploration holes at Neptune in late March 2016. Drill targets were generated from the integration of the results of: (1) a detailed gravity survey by a previous operator that outlined a deep, faulted sub-basin, and (2) a controlled source audio magneto telluric ("CSAMT") follow-up survey that detected conductive horizons within the sub-basin. In each of the holes completed by Nevada Sunrise, permeable sedimentary, lacustrine strata interbedded with volcanic ash and ejecta were logged at various levels throughout the holes. This type of sedimentary strata is interpreted as a requisite host horizon for lithium-bearing brines as seen in the northern Clayton Valley. A total of 45 water samples and 256 sediment cuttings samples were collected and submitted for multi-element analysis.

Preliminary analytical results indicate the water samples collected from the two completed holes contain sub-economic contents of lithium. However, in hole N-2016-1, the composited samples collected from the intersected strata contained lithium-bearing sediments that averaged 156 parts per million ("ppm") lithium over 215 feet (65.5 metres) from 1285 feet (392.7 metres) to the end of hole at 1,500 feet (457.2 metres), reaching a peak value of 217 ppm lithium from 1365 to 1385 feet. A sharp increase of acidity was noted in several of the last water samples of hole N- 2016-1, which Nevada Sunrise interprets as a potentially fertile leaching environment for the creation of lithium-bearing brines. A third hole up to 2,000 metres deep is planned approximately

1 mile (1.6 kilometres) to the east of hole N-2016-1 in an area interpreted from a 2016 geophysical survey to be a potential trap where denser, lithium-bearing brines could migrate and pool. If results from the third hole warrant, a drill pad and access road have been prepared for a fourth hole location.

Nevada Sunrise, the operator states "This the first drilling program on a property that covers approximately 10 square miles, and accordingly exploration on the Neptune property is a classic high risk/high reward scenario. Our current work has confirmed the presence of lithium within the Neptune basin, and we look forward to the next drill test of a highly-prospective lithium brine target."

4567 Holly Park Court, Delta, British Columbia, Canada V4K 4S7 Telephone: (604) 685-3317 Fax: (604) 669-5572

Neptune Property

Neptune consists of 316 unpatented 20-acre placer claims totaling approximately 6,320 acres (2,557 hectares) and is located in an active area of lithium exploration and mining. The Silver Peak lithium mine operation, acquired by Albemarle Corporation (NYSE: ALB) in 2015, has extracted lithium minerals from brines continuously since 1966 and is located approximately 10 miles (15 kilometres) to the north of Neptune. Pure Energy Minerals Ltd. (TSXV: PE) and Lithium-X Energy Corp. (TSXV: LIX) hold claims near or adjacent to the Company's Clayton Valley properties. Nevada Sunrise has an option to earn a 100% interest in Neptune, subject to a 3.0% gross overriding royalty (see Nevada Sunrise news release dated September 21, 2015 for further details of the Neptune underlying option agreement).

Water and sediment samples were submitted to ALS Minerals in Reno, NV, and analyzed at ALS Minerals in Vancouver, BC. Water samples were analyzed by ICP-AES and ICP-OES, and composite sediment samples were analyzed by 48-element, four-acid ICP-MS. John Kerr, P. Eng., is the Company's designated Qualified Person for this news release within the meaning of NI 43-101 and has reviewed and approved the technical information contained herein.

About Resolve Ventures

Resolve is a junior mineral exploration company based in Vancouver, BC, Canada. Resolve has earned a 25% working interest in Nevada's interest in Neptune, and can earn up to a 50% working interest after completing certain cash or share payments to Nevada, and by incurring an additional CDN$700,000 in exploration expenditures over a 2-year period (see the Company's news release dated March 4, 2016 for details of the Nevada-Resolve option agreement).

For further information on Neptune, please see the National Instrument 43-101 ("NI 43-101") compliant technical report dated February 29, 2016, and filed on SEDAR by Resolve on May 3, 2016.


"David Baker"

David Baker, President and CEO

For further information, please call (604) 817-4211 or (604) 685-3317 Visit our website:


All statements in this release, other than statements of historical fact, are "forward-looking information" with respect to Resolve Ventures Inc. ("Resolve Ventures") within the meaning of applicable Canadian securities laws, including statements that address the Company's use of funds, the future price of lithium, potential quantity and/or grade of minerals, potential size of a mineralized zone, potential expansion of mineralization, the timing and results of future resource estimates, or other study, proposed exploration and development of our exploration properties, the estimation of mineral resources. Forward-looking information is often, but not always,

identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Resolve Ventures to differ materially from those anticipated in such forward-looking information.

Although Resolve Ventures has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

Forward-looking statements are made as of the date hereof and accordingly are subject to change after such date. Except as otherwise indicated by Resolve Ventures, these statements do not reflect the potential impact of any non-recurring or other special items or of any dispositions, monetizations, mergers, acquisitions, other business combinations or other transactions that may be announced or that may occur after the date hereof. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of our operating environment. Resolve Ventures does not undertake to update any forward-looking statements that are included in this document, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release.

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Resolve Ventures Inc

ISIN : CA76117A3055
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Resolve Ventures is a gold and cobalt exploration company based in Canada.

Resolve Ventures holds various exploration projects in Canada.

Its main exploration properties are UNGAVA, EAST SHOOT OUT and KLU in Canada.

Resolve Ventures is listed in Canada. Its market capitalisation is CA$ 2.6 millions as of today (US$ 2.1 millions, € 1.9 millions).

Its stock quote reached its highest recent level on May 13, 2011 at CA$ 0.55, and its lowest recent point on February 16, 2018 at CA$ 0.02.

Resolve Ventures has 35 324 927 shares outstanding.

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Corporate news of Resolve Ventures Inc
6/21/2016Resolve NSP Property Option
5/31/2016Resolve Ventures Announces Neptune Lithium Projet Phase 1 Dr...
5/4/2016Resolve Closes Private Placement, Signs Definitive Agreement...
4/19/2016Nevada Sunrise Neptune Property Lithium Exploration Update
3/31/2016Neptune Project Presentation
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