Etna Resources Inc. Changes Name to Pan American Lithium Corp.
January 20 2010 - 5:54PM
Marketwired
Pan American Lithium Corp. (formerly Etna Resources Inc. (TSX
VENTURE: ETN)) (the "Company") - Effective at the market opening on
January 21, 2010, the common shares of the Company will commence
trading on TSX Venture Exchange under the name of Pan American
Lithium Corp.. The Company is classified as a 'Mining
Exploration/Development' company, with Lithium projects in Chile
and Mexico. Pan American Lithium Corp. will trade under the symbol
TSX-V:PL.
Chilean Brine Salars
The Company is the owner of interests in nine salars with the
potential to produce lithium and other metals from surface lakes
and subsurface brines, all located in the mineral-rich Atacama
Region III of Chile. The rights in these nine lithium salars cover
a cumulative area in excess of 11,500 hectares, all accessible via
serviceable roads. The Company has submitted a NI-43-101 compliant
report on these projects and is currently reviewing its portfolio
to determine a priority amongst these properties and a process to
move forward on the technical assessment of these sites.
Mexican Geothermal Plant Brines
In addition, as announced on December 21, 2009, the Company has
entered into a Share Option Agreement with Escondidas Internacional
S.A. de C.V. ("Escondidas"), a privately held Mexican corporation,
and the Shareholders of Escondidas. This Agreement provides for the
of the option to acquire 76% of the shares of Escondidas from the
Shareholders of Escondidas by the Company, which will result in the
Company receiving indirect interests in a joint venture whereby
Escondidas and another party will jointly develop lithium and
precious metals owned through concessions in the geothermal brines
currently being produced at the Cierro Prieto geothermal power
plant located in Baja California, Mexico, roughly 30 km south of
the city of Mexicali.
On Behalf of the Board,
ETNA RESOURCES INC.
Andrew A. Brodkey, President and CEO
This press release contains projections and forward-looking
information that involve various risks and uncertainties regarding
future events. Such forward-looking information can include without
limitation statements based on current expectations involving a
number of risks and uncertainties and are not guarantees of future
performance of the Company such as (i) the Company is the owner of
interests in nine salars with the potential to produce lithium and
other metals; and (ii) the Company receiving indirect interests in
a joint venture whereby Escondidas and another party will jointly
develop lithium and precious metals . There are numerous risks and
uncertainties that could cause actual results and the Company's
plans and objectives to differ materially from those expressed in
the forward-looking information, including the (i) inability to
obtain final Exchange approval for the Escondidas transaction for
any reason; and (ii) general uncertainties with respect to mineral
exploration and the nine brine salars in general. Actual results
and future events could differ materially from those anticipated in
such information. These and all subsequent written and oral
forward-looking information are based on estimates and opinions of
management on the dates they are made and are expressly qualified
in their entirety by this notice.
We seek safe Harbor.
Neither 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 release.
Contacts: Etna Resources Inc. Andrew A. Brodkey President and
CEO 520-989-0022
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