TORONTO, ON / ACCESSWIRE / December 11, 2017 / Stans Energy Corp. (TSX-V: HRE, OTC PINK: HREEF), ("Stans" or the "Company") is pleased to report that the Company and Atomredmetzoloto JSC ("ARMZ") are evaluating the potential for a partnership for the redevelopment of the Zavitinskoye Lithium Mine in Trans-Baikal region, Russian Federation.
Stans has made previous announcements regarding Binding Memorandum of Understanding ("BMOU") with Pervomayskiy GOK LLC ("PGOK") and Memorandum of Understanding with ARMZ for the joint development of the Pervomayskiy Lithium Stockpile. After further evaluation by both Stans and ARMZ it has become evident that the best course of action for the development of a lithium production program would require the evaluation of the restart of the Zavitinskoye Lithium mine operations.
Certain technical and legal issues have surfaced that preclude both Stans and ARMZ from conducting the necessary geological sampling to evaluate the Pervomayskiy Lithium Stockpile. In place of this program, ARMZ will commence an internal scoping study on the Zavitinskoye Lithium mine, which was the historic source of mineralized material for the Pervomayskiy cut-off grade lithium mineralization stockpile. ARMZ is expecting to complete the Scoping Study by March 2018 and has set aside an internal budget to complete this work program.
Upon the completion of the ARMZ internal Scoping Study, Stans and ARMZ will enter into a joint project development program and partnership arrangement. The value of including the infrastructure assets of PGOK in Stans and ARMZ development program of the Zavitinskoye Lithium Project will be reexamined upon the completion of the ARMZ internal scoping study.
Please see July 24, 2017 press release regarding the MOU with ARMZ.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Stans Energy:
Stans Energy Corp. is a resource development company focused on advancing rare and specialty metals properties and processing technologies. Stans is now transitioning into a supplier of materials and technologies that will assist in satisfying the future energy supply, storage and transmission needs of the world. Previously, the Company acquired, among other things, the right to mine the past producing rare earth mine, Kutessay II, in the Kyrgyz Republic. Due to the expropriation actions taken by the Government of the Kyrgyz Republic, the Company is undertaking international arbitration litigation to protect the Company's rights and recover damages estimated at over US$210,000,000, caused by the Republic.
We seek safe harbour.
Contact:
Rodney Irwin
Stans Energy Corp.
Interim President & CEO
rodney@stansenergy.com
647-426-1865
David Vinokurov
Stan Energy Corp.
VP Corporate Development
david@stansenergy.com
647-426-1865
FORWARD LOOKING STATEMENTS:This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, use of proceeds from the Offering, the completion of the Offering, the continued advancement of the company's general business development, research development and the company's development of mineral exploration projects. When used in this press release, the words "will", "shall", "anticipate", "believe", "estimate", "expect", "intent", "may", "project", "plan", "should" and similar expressions may identify forward-looking statements. Although Stans Energy Corp. believes that their expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the potential that fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators.
SOURCE: Stan Energy Corp.
