(TheNewswire)
Vancouver, BC – TheNewswire - April21 st , 2022 - RechargeResources Ltd. (“Recharge” or the “Company”) (CSE:RR) (CNSX:RR.CN) (OTC:SLLTF) (Frankfurt:SL5) ispleased to announce the company is continuing working towardsidentifying the most immediately available drill team for its lithiumSalar project in Salta, Argentina and budgeting for the 2022exploration and development season.
The companyfurther announced that it had received total proceeds of $427,500 fromthe exercise of 5,700,000 warrants issued pursuant to a privateplacement announced April 23 rd , 2021. Accordingly,the Company issued 5,700,000 shares of common stock (“Shares”) inexchange for the exercised warrants. The warrants were exercisable ata price of $0.075 per share until April 22 nd ,2022. The company further announces that as of end of business onApril 22 nd , 2022 at 5:00 PM PST 59,147,500 warrants issuedpursuant to the same private placement will expire.
CEO and director, Yari Nieken, states," We look forward tosecuring a drill team for our lithium salar project in Salta,Argentina as well as continuing to explore and develop our portfolioof battery metal projects to the benefit of allstakeholders.”
Figure 1 – Pocitos 1 Lithium BrineMap
About Pocitos 1 Lithium BrineProject
The Pocitos Project is located approximately 10km fromthe township of Pocitos where there is gas, electricity, and telephoneinternet services. Pocitos I exploration licence is approximately 800hectares and is accessible by road. Previous exploration anddevelopment teams have spent over USD $1.5 million exploring theproject, including surface sampling, trenching, TEM geophysics anddrilling two 400m holes that had outstanding results. Locations forimmediate follow up drilling have already been determined andpreparations are being made for upcoming drill program.
Lithium values of up to 125ppm from Laboratory analysisconducted by Alex Stewart were recorded by A.I.S. Resources Ltd duringthe projects first drill campaign in May 2018 using a double packer inHQ Diamond drill holes to a depth of 409 metres and the flow rate ofthe hole exceeded 75,000 Litres per minute and brine continued to flowfor more than 5 hours. Both drill holes had exceptional brine flowrates. Recharge's plan is to sample the current drill holes and drilla further two holes to work towards a NI 43-101 resourcecalculation.
Qualified P erson
Phillip Thomas, BSc (geology), MBusM, FAusIMM, MAIG, MAIMVA (CMV), aqualified person as defined under NI 43-101 regulations, has reviewedthe technical information that forms the basis for portions of thisnews release, and has approved the disclosure herein.
Market Awareness Program
As part of Recharge’s ongoing strategy to raise theprofile of Recharge’s projects to investors, the Company hasfurther engaged TD Media LLC dba Life Water Media LLC, of Houston,Texas (“TD Media”) whereby TD Media will provide digitalmarketing services including content creation, distribution, andmarket awareness campaigns in consideration of USD $100,000 as part ofa supplementary digital awareness package extending the currentcontract by 30 days.
About Recharge Resources
Recharge Resources is a Canadian mineral explorationcompany focused on exploring and developing the production ofhigh-value battery metals to create green, renewable energy to meetthe demands of the advancing electric vehicle and fuel cell vehiclemarket.
On Behalf of the Board of Directors,
“Yari Nieken”
Yari Nieken, CEO
For further information, pleasecontact:
Recharge Resources Ltd.
Mr. Joel Warawa
Phone: 778-588-5473
E-Mail: info@recharge-resources.com
Website: recharge-resources.com
Neither the Canadian Securities Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the CSE) accepts responsibility for the adequacy or accuracy ofthis release.
Disclaimer for Forward-LookingInformation
Certain statements in this releaseare forward-looking statements, which reflect the expectations ofmanagement regarding Recharge’s intention to continue to identifypotential transactions and make certain corporate changes andapplications. Forward looking statements consist of statements thatare not purely historical, including any statements regarding beliefs,plans, expectations or intentions regarding the future. Suchstatements are subject to risks and uncertainties that may causeactual results, performance or developments to differ materially fromthose contained in the statements. No assurance can be given that anyof the events anticipated by the forward-looking statements will occuror, if they do occur, what benefits Recharge will obtain from them.These forward-looking statements reflect managements’ current viewsand are based on certain expectations, estimates and assumptions whichmay prove to be incorrect. A number of risks and uncertainties couldcause actual results to differ materially from those expressed orimplied by the forward-looking statements, including Recharge’sresults of exploration or review of properties that Recharge doesacquire. These forward-looking statements are made as of the date ofthis news release and Recharge assumes no obligation to update theseforward-looking statements, or to update the reasons why actualresults differed from those projected in the forward-lookingstatements, except in accordance with applicable securitieslaws.
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