BLILF - Updated Maricunga Feasibility Study
(TheNewswire)
December 20, 2021– TheNewswire - Vancouver, British Columbia - BearingLithium Corp. (“ Bearing ”or the “ Company ”) (TSXV:BRZ) (OTC:BLILF) announces that the release of theupdated Definitive Feasibility Study (DFS) for the Maricunga ProjectStage One development previously announced for mid-December 2021 hasbeen moved to mid-January 2022.
The dynamics and positive performance of the lithiummarket during the last 12 months have had a positive impact onexpected market conditions. Wood Mackenzie (previously Roskill),MSB’s market advisor, has recommended updating the market chapter inthe DFS to correctly reflect new perspectives that have emerged duringthe last six months. The report is now undergoing an internal approvalprocess within Worley Parsons (DFS Author), for its signature, beforeit can be released. When coupled with the Christmas/New Year break andthe requirement for a NI 43-101 sign-off, the release of the updatedDFS should be no later than the end of January 2022.
Minera Salar Blanco (“MSB”) ofthe Maricunga Project CEO Cristobal Garcia - Huidobrocommented:
“We understand that the market expected the DFS to bereleased in mid-December 2021. However, the impact of new perspectivesfor the lithium market, and the effect they have on the supply/demandbalance included on the financial model, led us to delay the releaseof the report. Notwithstanding this minor delay, we expect that themarket will be satisfied with its technical quality and the projecteconomics.”
Bearing Lithium Corp. is a lithium-focused mineralexploration and development company. Its primary asset is a 17.14%interest in the Maricunga Lithium Brine Project in Chile. TheMaricunga Project represents one of the highest-grade lithium brinesalars globally and the only pre-production project in Chile. Over million has been invested in the Maricunga Project to date.
ON BEHALF OF THE BOARD
Signed "GilPlayford”
Gil Playford, Chairman
gplayford@bearinglithium.com
Neither the TSX VentureExchange nor its Regulation Services Provider (as that term is definedin the policies of the TSX Venture Exchange) accepts responsibilityfor the adequacy or accuracy of this release.
Cautionary StatementsRegarding Forward Looking Information
This press release includes certain"forward-looking information” and "forward-lookingstatements” (collectively "forward-looking statements”)within the meaning of applicable Canadian and United States securitieslegislation including the United States Private Securities LitigationReform Act of 1995. All statements, other than statements ofhistorical fact, included herein, without limitation, statementsrelating the future operating or financial performance of the Company,are forward-looking statements.
Forward-looking statements arefrequently, but not always, identified by words such as"expects”, "anticipates”, "believes”,"intends”, "estimates”, "potential”,"possible”, and similar expressions, or statements that events,conditions, or results "will”, "may”, "could”, or"should” occur or be achieved. Actual future results maydiffer materially. There can be no assurance that such statements willprove to be accurate, and actual results and future events coulddiffer materially from those anticipated in such statements.Forward-looking statements reflect the beliefs, opinions andprojections on the date the statements are made and are based upon anumber of assumptions and estimates that, while considered reasonableby the Company, are inherently subject to significant business,economic, competitive, political and social uncertainties andcontingencies. Many factors, both known and unknown, could causeactual results, performance or achievements to be materially differentfrom the results, performance or achievements that are or may beexpressed or implied by such forward-looking statements and theparties have made assumptions and estimates based on or related tomany of these factors. Readers should not place undue reliance on theforward-looking statements and information contained in this newsrelease concerning these times. Except as required by law, the Companydoes not assume any obligation to update the forward-lookingstatements of beliefs, opinions, projections, or other factors, shouldthey change, except as required by law.
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