EMERALD PARK, Saskatchewan--(BUSINESS WIRE)--PRAIRIE LITHIUM (the “Company” or “Prairie Lithium”), is pleased to announce the acquisition of 188,000 acres of Subsurface Mineral Permits in Saskatchewan, Canada. Prairie Lithium is a Canadian lithium brine extraction and technology development company with its head office in Emerald Park, Saskatchewan. The land acquisition increases Prairie Lithium’s total mineral holdings in Saskatchewan to over 220,000 acres. Prairie Lithium is the largest active lithium brine developer in Saskatchewan, and one of the largest active lithium brine developers in Canada.
The land acquisition comes after Prairie Lithium’s successful Direct Lithium Extraction (DLE) proof of process pilot project that operated in Saskatchewan in 2020. For the pilot project, Prairie Lithium installed its proprietary DLE equipment on an active oil and gas site in Saskatchewan. Lithium was extracted from the brine, converted into a lithium sulphate concentrate, and further converted into lithium carbonate.
Lithium carbonate and lithium hydroxide are two key compounds used in lithium ion batteries. With lithium ion battery manufacturing increasing around the world, the price of lithium compounds have increased drastically over the past few months, sending shockwaves throughout the supply chain. Demand for lithium is expected to outpace supply within the next few years unless, in Management’s view, new mines are brought into production at a record pace.
Prairie Lithium’s expertise in brine hydrochemistry and hydrogeology, coupled with its internal analytical capacity and its proprietary lithium extraction technology, positions it to be a leader in lithium brine development in Saskatchewan and beyond. Find out more at prairielithium.ca.
FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements, within the meaning of applicable securities legislation, concerning Prairie Lithium’s business and affairs. Such forward-looking statements include, but may not be limited to, those with respect to: (i) lithium carbonate and lithium hydroxide use and demand around the world; (ii) the increase in lithium ion battery manufacturing around the world; (iii) the growing supply gap and price for lithium carbonate and lithium hydroxide; (iv) the anticipated speed of development for new extraction lithium mines; (v) Prairie Lithium’s continued expertise in brine hydrochemistry and hydrogeology; (vi) and Prairie Lithium’s ability to lead lithium brine development in Saskatchewan and beyond.
These forward-looking statements are based on current expectations, and are naturally subject to uncertainty and changes in circumstances that may cause actual results to differ materially. Although Prairie Lithium believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that these expectations will prove to be correct.
All of the forward-looking statements made in this press release are qualified by these cautionary statements. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking information is provided as of the date of this press release, and Prairie Lithium assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities legislation.