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.
Monumental Energy Corp. logo (CNW Group/Monumental Minerals Corp.)
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
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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.
