Vancouver, B.C., January 16, 2019 - Alba Minerals Ltd. (TSX-V: AA; US:AXVEF; Frankfurt: A117RU) (“Alba” or the “Company”) is pleased to announce that Noram Ventures Inc. (“Noram”) and its wholly-owned subsidiary Green Energy Inc. have successfully put an end to the litigation against Centrestone Resources LLC (“Centrestone”) for overstaking on the Clayton Valley Project.
In May 2018, Centrestone Resources LLC attempted to overstake the Clayton Valley Property owned and operated by Noram Ventures Inc. The ongoing litigation was settled prior to the preliminary injunction hearing set for January 11, 2019. In the final settlement agreement dated January 10, 2019, Noram agreed to vacate the injunction hearing based on Centrestone’s complete withdrawal from the Zeus Property, the dismissal of the countersuit against Noram, a cash consideration of $50,000 USD and numerous other commitments that prohibit any future conflict or contest with respect to the interest rights on the Zeus Property.
“Alba is pleased to see a resolution to this issue. The Company holds 3,800,000 shares in Noram and is confident in the future success in the development of the Zeus Property which hosts such a significant resource”, said Chairman and Director Mr. MacDougall. “We look forward to the results from the last round of drilling and expect that our continued investment in Noram will significantly enhance Alba’s shareholder value.”
In 2018, Alba had applied for drill permitting on the Muddy Mountain Project. Unfortunately, due to the current government shut down, the Company is not able to move forward with this drill program. In lieu the Company intends to review its asset base and devise a suitable exploration plan for 2019.
About Alba Minerals Ltd.
Alba Minerals Ltd. is a Vancouver-based junior resource company with projects in North and South America. Alba is focused on the development of the following mineral properties:
The Quiron II Lithium Property consists of 2,421 hectares of prospective lithium exploration in the Pocitos Salar, Province of Salta, Argentina. The Property is located approximately 12 km northeast from the Liberty One Lithium Corp and 19 km from Pure Energy Minerals Ltd.’s Pocitos prospects.
The Chascha Norte property consists of 2,843 hectares of prospective lithium exploration in the Southeastern part of the Salar de Arizaro, Salta, Argentina in closest vicinity to Argentina Lithium & Energy Corporation’s and Lithium X’s Arizaro lithium brine projects.
The Rainbow Canyon Gold Property consists of 417 hectares of prospective gold exploration in the Olinghouse mining district, in the Washoe County Nevada.
The Muddy Mountain property consists of 450.41 hectares of prospective lithium exploration in Muddy Mountains of Clark County, Nevada.
Please visit our web site for further information:www.albamineralsltd.com
ON BEHALF OF THE BOARD OF DIRECTORS
Chairman & Director
Direct: (778) 999-2159
This news 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. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from 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 expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstance or management’s estimates or opinions change.
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