Li3 Energy Provides Update on New World Resource Corp.
SANTIAGO, CHILE -- (Marketwire) -- 03/05/12 -- Li3 Energy, Inc., (OTCBB: LIEG) ('Li3', 'Li3 Energy' or the 'Company'), a US-listed and South America based global exploration and development company in the lithium and minerals sector, announces that Li3 and New World Resource Corp., (TSX VENTURE: NW) have agreed to extend the period of exclusive negotiations in respect to the acquisition of the rights to New World's lithium assets for a further 45-day period expiring April 18th, 2012. All other terms of the Letter of Intent remain unchanged.
About Li3 Energy, Inc.
Li3 Energy, Inc. is an exploration and developmental stage public company in the lithium mining and energy sector. Li3 aims to acquire, develop and commercialize a significant portfolio of lithium brine deposits in the Americas. With its controlling interest in its Maricunga Project, Li3's goals are to; a) support the global implementation of clean and green energy initiatives; b) meet growing lithium market demand; and c) become a mid-tier, low cost supplier of lithium, potassium nitrate, iodine and other strategic minerals, serving global clients in the energy, fertilizer and specialty chemical industries. Additional information regarding the Company can be found in our recent filings with the Securities and Exchange Commission ('SEC') as well as the information maintained on our website www.li3energy.com.
About New World Resource Corp.
New World Resource Corp. is a Canadian based mining exploration company focused on building a strong, diversified project portfolio within the Americas. The Company's projects include the Lipeña/Bonete copper-gold project and the Pastos Grandes lithium brine project in Bolivia. The Company currently has C$1.3 million in the treasury.
Forward-Looking Statements
Any statements contained herein which are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements identified by or containing words like 'believes,' 'expects,' 'anticipates,' 'intends,' 'estimates,' 'projects,' 'potential,' 'target,' 'goal,' 'plans,' 'objective,' 'should', or similar expressions. The Company gives no assurances the assumptions upon which such forward-looking statements are based will prove correct. Forward-looking statements involve risks, uncertainties and assumptions, and are based on information currently available to us. Actual results may differ materially from those expressed herein due to many factors, including, without limitation: successful completion of the POSCO pilot/demonstration plant and validation of the technology; issuance of necessary government consents; the Chilean government's proposed lithium exploitation initiatives; results of due diligence and whether the Company is able successfully to negotiate any proposed acquisition; initial exploration results; satisfaction of conditions precedent to POSCAN's additional investment; the Company's ability to raise additional capital for exploration; development and commercialization of the Company's projects; future findings and economic assessment reports; the Company's ability to identify appropriate corporate acquisition or joint venture opportunities in the lithium mining sector and to establish appropriate technical and managerial infrastructure; political stability in countries in which we operate; and lithium prices. For further information about risks faced by the Company, and its Maricunga Project, see the 'Risk Factors' section of the Company's Form S-1/A, filed with the SEC on February 23rd, 2012. The Company undertakes no obligation to update any forward-looking statement contained herein to reflect events or circumstances which arise after the date of this release.
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Contact:
Li3 Energy, Inc.
Luis Saenz
CEO
Marchant Pereira 150 Oficina 803
Providencia, Santiago - Chile
Email Contact
The InVentures Group Inc.
Marc S. Lubow
Managing Partner
(904) 645 - 9549
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