Elon Lithium Brine Project

Spearmint Resources Inc. has three separate claim blocks in Nevada that are prospective for lithium known as the 1,136-acre ‘McGee Lithium Clay Project’, the recently acquired 124-acre ‘Green Clay Lithium Project’, and the 280-acre ‘Elon Lithium Brine Project’, covering an aggregate area of 1,540 acres.

Spearmint’s ‘Elon Lithium Brine Project’ directly borders Pure Energy Minerals Limited (PE – TSX.v, PEMIF – USA) and has access to some of the deepest parts of this basin. Pure Energy is in the only known lithium-bearing brine basin in North America that is in production and Spearmint is very pleased to be in this area.

On March 18, 2021, Pure Energy’s strategic partner Schlumberger New Energy Venture (NYSE: SLB) “announced the development of a lithium extraction pilot plant through its new venture, NeoLith Energy. The deployment of the pilot plant will be in Clayton Valley, Nevada, USA. The NeoLith Energy sustainable approach uses a differentiated direct lithium extraction (DLE) process to enable the production of high-purity, battery-grade lithium material while reducing the production time from over a year to weeks. This innovative process can create new market opportunities for lithium extraction and battery manufacturing economy and maximize the value of the lithium-rich resource base in Nevada with cutting-edge extraction technology.

On June 10, 2021, Schlumberger (SLB–NYSE) and Panasonic Energy of North America announced a collaboration agreement to optimize and validate a lithium extraction and production process to be used by Schlumberger New Energy at its NeoLith Energy pilot plant in the Clayton Valley using Pure Energy’s land. According to Schlumberger’s news “Neolith Energy’s objective will be to pump brine from the subsurface, extract greater than 90% of the dissolved lithium, and pump more than 85% of the brine back to the subsurface in an environmentally safe manner. In addition to maximizing the reinjection of the brine, the goal is to eliminate the need for any freshwater from an external source and reduce the environmental impact.”

On August 17, 2021, Pure Energy Minerals Ltd. announced its partner Schlumberger New Energy has received approval from the Bureau of Land Management (BLM) for a plan of operations covering the construction and operation of a pilot plant at Pure Energy’s Clayton Valley, Nevada, lithium brine project.

On July 2, 2024, Pure Energy Minerals Ltd. discussed progress at the Clayton Valley lithium brine project (CV project) located in Esmeralda county, Nevada. Pure Energy entered into a partnership with SLB (NYSE: SLB) to sustainably develop at scale lithium claims held by Pure Energy in the Clayton Valley. SLB has deployed a demonstration plant on site to test an integrated approach that combines subsurface expertise and surface engineering of advanced technologies, including direct lithium extraction (DLE).

The important advances made on the project include: 1) Application for, and receipt of, final permits from government agencies for the construction and operation of the demonstration plant; 2) Completion of plant construction; 3) Commencement of technical trials, which are continuing.

The sustainable lithium production demonstration plant is located five kilometres southeast of the town of Silver Peak, Nev., on Bureau of Land Management (BLM) lands. Pure Energy holds 950 BLM mineral claims in the Clayton Valley area.

The project received all necessary permits from the State of Nevada and the Nevada Division of Water Resources for the demonstration plant construction and water discharge in 2022 and 2023, respectively. Construction was largely completed by Q3 of 2023 (news release of March 28, 2023).

“SLB’s demonstration plant represents a significant step toward sustainable lithium brine production at scale. The ongoing technical trials at the facility give us increased confidence that SLB’s integrated approach is the future for lithium brine extraction in Clayton Valley and elsewhere,” stated Joseph Mullin, Pure Energy’s chief executive officer.

Management cautions that past results or discoveries on properties in proximity to Spearmint may not necessarily be indicative to the presence of mineralization on the Company’s properties. Mr. Frank Bain, P.Geo., a director of Spearmint and a Qualified Person as defined by National Instrument 43-101 has reviewed and approved the scientific and technical disclosure contained within this website.