VANCOUVER, BC, July 17,
2024 /CNW/ - Monumental Energy Corp.
("Monumental" or the "Company") (TSXV: MNRG) (FSE:
ZA6) (OTCQB: MNMRF) is pleased to provide an update on its active
participation in the Request for Information ("RFI") process
initiated by the Chilean Ministry of Mining for lithium exploration
and exploitation.
The RFI process attracted 88 applications from companies across
10 countries, including 11 submissions from Canadian-based
companies. Applications were received for 16 salt flats and 28
different lithium projects, showcasing the strong global interest
in Chile's lithium resources.
Notably, Monumental Energy (through its property option agreement
with Lithium Chile Inc.) holds rights over 61 mining concessions
totaling 14,700 hectares in the Laguna Blanca salt flats, a key
area highlighted in the RFI process.
The Ministry of Mining is currently conducting a comprehensive
analysis of the submitted projects, evaluating financial
capability, estimated annual production, technological innovation,
and mining experience. This evaluation process will determine which
projects advance to the next stage of contract assignments,
expected to commence in the first months of 2025. By the end of
August, the Ministry will announce the mechanisms for assigning
contracts to prioritized projects. Monumental Energy remains
optimistic about its prospects and looks forward to contributing to
the development of Chile's lithium
sector.
In line with the Government's emphasis on community engagement,
Monumental Energy is committed to working closely with local
communities to ensure that the benefits of lithium projects are
shared equitably. Indigenous consultations will be initiated by the
Ministry of Mining where direct impacts are anticipated, ensuring
all voices are heard and respected.
Monumental Energy highlights the potential of the Laguna Blanca
project in the Arica y Parinacota Region as a prime opportunity for
responsible lithium mining development. This project promises
significant economic and social benefits for the region and its
people.
Michelle DeCecco, CEO comments,
"The Company remains actively engaged with the Government and
local communities to achieve early project milestones and secure
necessary approvals. Monumental Energy is dedicated to leading the
charge in sustainable lithium development and is eager to play a
pivotal role in the future of Chile's lithium sector."
About Salar De Laguna
Blanca
The Laguna Project is located within the prolific lithium
triangle, a zone within the central Andes high desert that includes
Chile, Argentina, and Bolivia. This zone is estimated to contain
more than half of the world's lithium supply beneath the many salt
flats, also known as salars, that are common to the
region. The Laguna Blanca property consists of 61 exploration
concessions totaling 14,700 hectares, 100% owned by Lithium Chile
through its wholly owned Chilean subsidiary Minera Kairos Chile
Limitada. The Laguna Blanca Project includes both active and paleo
salar brines and salts with samples including 1230 mg/l from
surface.
About Monumental Energy Corp.
Monumental Energy Corp. is an exploration company focused on the
acquisition, exploration, and development of properties in the
critical and clean energy sector. The Company has an option to
acquire a 75% interest and title to the Laguna cesium-lithium brine
project located in Chile. The
Company holds a 2% net smelter return royalty on Summit Nanotech's
share of any future lithium production from the Salar de Turi
Project, Chile. The Company owns
securities of New Zealand Energy Corp.
On behalf of the Board of Directors,
/s/ "Michelle DeCecco"
Michelle DeCecco, CEO
Neither the 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 news release.
Forward Looking Information
This news release contains "forward–looking information or
statements" within the meaning of applicable securities laws, which
may include, without limitation, the potential plans for the
Company's projects, the expected feedback and response from the
government of Chile and local
communities regarding the RFI for the Laguna project, other
statements relating to the technical, financial and business
prospects of the Company, its projects, its goals and other
matters. All statements in this news release, other than statements
of historical facts, that address events or developments that the
Company expects to occur, are forward-looking statements. Although
the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and actual
results may differ materially from those in the forward-looking
statements. Such statements are based on numerous assumptions
regarding present and future business strategies and the
environment in which the Company will operate in the future,
including the price of metals and the price of oil and gas, the
ability to achieve its goals, that general business and economic
conditions will not change in a material adverse manner and that
financing will be available if and when needed and on reasonable
terms. Such forward-looking information reflects the Company's
views with respect to future events and is subject to risks,
uncertainties and assumptions, including the risks and
uncertainties relating to the interpretation of exploration
results, risks related to the inherent uncertainty of exploration
and cost estimates and the potential for unexpected costs and
expenses and those other risks filed under the Company's profile on
SEDAR at www.sedarplus.ca. While such estimates and assumptions are
considered reasonable by the management of the Company, they are
inherently subject to significant business, economic, competitive
and regulatory uncertainties and risks. Factors that could cause
actual results to differ materially from those in forward looking
statements include, but are not limited to, continued availability
of capital and financing and general economic, market or business
conditions, failure to secure personnel and equipment for work
programs, adverse weather and climate conditions, risks relating to
unanticipated operational difficulties (including failure of
equipment or processes to operate in accordance with specifications
or expectations, cost escalation, unavailability of materials and
equipment, government action or delays in the receipt of government
approvals, industrial disturbances or other job action, and
unanticipated events related to health, safety and environmental
matters), risks relating to inaccurate geological assumptions,
failure to obtain or maintain all necessary government permits,
approvals and authorizations, failure to obtain or maintain surface
access agreements or understandings from local communities, land
owners or Indigenous groups, fluctuation in exchange rates, the
impact of viruses and diseases on the Company's ability to operate,
capital market conditions, restriction on labour and international
travel and supply chains, decrease in the price of lithium, cesium
and other metals, decrease in the price of oil and gas, loss of key
employees, consultants, or directors, failure to maintain or obtain
community acceptance (including from the Indigenous communities),
increase in costs, litigation, and failure of counterparties to
perform their contractual obligations. The Company does not
undertake to update forward–looking statements or forward–looking
information, except as required by law.
SOURCE Monumental Minerals Corp.