RENO, Nev.--(BUSINESS WIRE)--Lithium Corporation (OTCBB: LTUM) (the "Company", or “Lithco”) is pleased to announce that James Brown the Managing Director of Altura Mining Limited, which recently invested $550,000 in Lithium Corporation by way of a private placement, has joined the Board of Directors.
Mr. Brown is a mining engineer with more than 25 years' experience in the coal mining and exploration industry in Australia and Indonesia, including 22 years at Australian based coal producer New Hope Corporation. During this time he has held positions of increasing responsibility from front line mine planning and supervision, land acquisition, government approvals and mine and business development. James is currently the Managing Director of Altura Mining Limited (ASX: AJM) an Australian listed company focused on coal, lithium and iron ore exploration. Since his appointment as General Manager in 2008 and subsequently Managing Director of Altura in September 2010. Mr. Brown has overseen the growth of Altura from $10 million to $80 million in market capitalization via successful capital raises and acquisition of near term production projects such as Tabalong Coal (Indonesia), Altura Lithium (Western Australia) and Mt Webber Iron Ore (Western Australia). James is a member of the Australian Institute of Company Directors (MAICD).
While James Brown is joining, Steven V. Goss has resigned from the Board. Tom Lewis, the president of Lithium Corporation, recently said, “It gives me great pleasure to welcome James to the Board of Directors. I am certain James’s corporate experience, and operational skills are bound to be a huge asset to the company. Also, we’d like to thank Steve Goss for his service to the Company, and wish him the best with all his future endeavors.”
Lithium Corporation is currently exploring two properties in Nevada. The Company recently completed a drill program at its San Emidio Property, where the results indicate that future deeper drilling is warranted, and also completed a drill program in December at the Fish Lake Valley property, the results from which are pending. In addition to these prospects, Lithium Corporation continues to generate and evaluate other prospects or areas that may be prospective for hosting lithium mineralization.
About Lithium Corporation
Lithium Corporation is an exploration company based in Nevada devoted to the exploration for new lithium resources within the Great Basin. The Company explores and develops potentially economic lithium-enriched brine fields, with an eye to becoming a long-term producer of this increasingly strategic and economically important commodity. John E. Hiner, Lithium Corporation’s Vice President of Geology who is Licensed Geologist in the State of Washington, and Registered Member of SME, a qualified person as defined by National Instrument 43-101 has reviewed and approved the information provided in this news release.
Notice Regarding Forward-Looking Statements
This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any mineralization, exploration and development of our mineral properties, specifically in regards to any future drilling programs.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of minerals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
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