VANCOUVER, BC, July 23,
2024 /CNW/ - Century Lithium Corp. (TSXV: LCE)
(OTCQX: CYDVF) (Frankfurt: C1Z) (Century Lithium or
the Company) announces it has changed the name of its 100%-owned
Clayton Valley Lithium Project in Nevada,
USA to the Angel Island Mine (the Project). In April 2024, the Company announced a positive
Feasibility Study for the Project, making it one of the few
advanced lithium projects being developed in the United States. As the Company now
continues to work towards permitting the Project, regulators
encouraged a name change for clarity in the permitting process. The
Angel Island name distinguishes it from other mining and energy
projects in the area by using the name of a topographical feature
from the Project.
ABOUT ANGEL ISLAND
Angel Island is named for the
ridge of older metavolcanic and clastic rocks
bordering the west side of Century's lithium clay deposit. The name
itself dates to the 1800's, one of three landforms in Clayton
Valley named for islands in San Francisco Bay (Alcatraz and Goat
islands being the other two). Of the three landforms, Angel Island
is the largest, rising to a height 400 meters above the valley
floor. Its presence on the east side of the valley, separating
Century's lithium clay deposit from the lithium brine operation
of Albemarle Corp., is owed to uplift along a major
northeast trending normal fault located along the western base of
the ridge. Although not directly related to the formation of
Century's deposit, uplift of Angel Island along this fault was
responsible for elevating the clay deposits east of the fault and
bringing them to the surface where they are now accessible for
mining. The harder rocks in the ridge also likely acted as a
physical barrier protecting Century's lithium clay deposit from
erosion.
ABOUT CENTURY LITHIUM CORP.
Century Lithium Corp. is
an advanced stage lithium company, focused on developing its
100%-owned Angel Island Mine in west-central Nevada, USA. Century Lithium recently
completed a Feasibility Study on the Project and is currently in
the permitting stage, with the goal of becoming a domestic producer
of lithium for the growing electric vehicle and battery storage
market.
ON BEHALF OF CENTURY LITHIUM CORP.
WILLIAM WILLOUGHBY, PhD., PE
President & Chief Executive Officer
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE
CONTENT OF THIS NEWS RELEASE.
Cautionary Note Regarding Forward-Looking
Statements
This release contains certain forward-looking statements
within the meaning of applicable Canadian securities legislation.
In certain cases, forward-looking statements can be identified by
the use of words such as "plans", "expects" or "does not
anticipate", or "believes", or variations of such words and phrases
or statements that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved" and similar expressions suggesting future outcomes or
statements regarding an outlook.
Forward-looking statements relate to any matters that are not
historical facts and statements of our beliefs, intentions and
expectations about developments, results and events which will or
may occur in the future, without limitation, statements with
respect to the potential development and value of the Project and
benefits associated therewith, statements with respect to the
expected project economics for the Project, such as estimates of
life of mine, lithium prices, production and recoveries, capital
and operating costs, IRR, NPV and cash flows, any projections
outlined in the Feasibility Study in respect of the Project, the
permitting status of the Project and the Company's future
development plans.
These and other forward-looking statements and information
are subject to various known and unknown risks and uncertainties,
many of which are beyond the ability of the Company to control or
predict, that may cause their actual results, performance or
achievements to be materially different from those expressed or
implied thereby, and are developed based on assumptions about such
risks, uncertainties and other factors set out herein. These
risks include those described under the heading "Risk Factors" in
the Company's most recent annual information form and its other
public filings, copies of which can be under the Company's profile
at www.sedarplus.com. The Company expressly disclaims any
obligation to update-forward-looking information except as required
by applicable law. No forward-looking statement can be guaranteed,
and actual future results may vary materially. Accordingly, readers
are advised not to place reliance on forward-looking statements or
information. Furthermore, Mineral Resources that are not Mineral
Reserves do not have demonstrated economic viability.
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SOURCE Century Lithium Corp.