VANCOUVER, British Columbia, August 25, 2016 /PRNewswire/ --
Nevada Energy Metals Inc. "the Company" (TSX-V: BFF) (OTCQB: SSMLF) (Frankfurt: A2AFBV) is pleased to announce that it has paid in full all annual Bureau of Land Management (BLM) maintenance fees for the Company's seven Lithium projects located in Nevada. The annual maintenance fees, totaling USD $ 212,350 (CAD $274,550), are now paid to Sept 1st 2017.
Nevada Energy Metals' Seven Nevada Lithium Projects Are Fully Paid Up.:
- Dixie Valley Lithium Project - 907 Claims, no royalties, (348 claims optioned to Wildcat Exploration Ltd. (TSX-V:WEL))
- BSV Lithium Project - 160 claims (100% owned, no royalties, in Big Smokey Valley)
- Black Rock Desert Lithium Project- 128 claims (100% owned, no royalties)
- Clayton Valley Lithium Project - 77 claims, no royalties, (70% optioned-out to American Lithium Corp (TSX-V: Li))
- Teels Marsh West Lithium Project - 100 claims (100% owned, no royalties)
- San Emidio Desert Lithium Project - 155 claims (100% owned, no royalties)
- Alkali Lake Lithium Project - 191 claims in a 60-40 earn in agreement with Dajin Resources Corp (TSX-V:DJI), no royalties.
Rick Wilson, Chief Executive Officer of Nevada Energy Metals, commented: "We are pleased to report that our Project Generator Model has grossed over USD $300,000, as well as a portfolio of marketable securities. These earnings have helped to offset the annual BLM Maintenance Fees as well as a portion of the Company's general operating costs."
About Nevada Energy Metals: http://nevadaenergymetals.com/
Nevada Energy Metals Inc. is a well funded, Canadian based, exploration company who's primary listing is on the TSX Venture Exchange. The Company's main exploration focus is directed at lithium brine targets located in the mining friendly state of Nevada. The Company has ownership of 77 claims in Clayton Valley, only 250m from Rockwood Lithium, the only brine based lithium producer in North America (70% optioned-out to American Lithium Corp (TSX-V: Li). Nevada Energy Metals has also acquired: 100 claims (Teels Marsh West) covering 2000 acres (809 hectares) at Teels Marsh, Mineral County, Nevada, a prospective lithium exploration project, 100% owned without any royalties; the San Emidio Desert lithium project, consisting of 155 claims (approximately 3,100 acres/1255 hectares) in Washoe County, Nevada; the Alkali Lake Project in Esmeralda county, is a 60% earn in option agreement from Dajin Resources Corp (TSX-V: DJI), where near surface lithium values have been confirmed; the Dixie Valley Project consisting of 907 claims covering 73.6 square kilometers/28.4 square miles (7,363 hectares/18,194 acres) of salt marsh playa. The BSV Lithium Project consists of 160 placer claims, 3,200 acres/1,295 hectares, located in northern Big Smokey Valley. The Black Rock Desert Project consists of 128 placer claims (2,560 acres/ 1,036 hectares) located in southwest Black Rock Desert, Washoe County, Nevada.
On Behalf of the Board of Directors:
Rick Wilson, President & 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 contents of this release.
SOURCE Nevada Energy Metals Inc.