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August 12, 2019 / Vancouver, BC / NRG Metals Inc. (“NRG” or the “Company”) (TSX-V: NGZ) (OTCQB: NRGMD) (Frankfurt: OGPN) is pleased to announce that it has filed on SEDAR, its preliminary economic assessment following the summary results previously announced. The PEA report was completed by Knight Piesold Consulting and JDS Energy and Mining Inc., both industry leading independent engineering consulting firms. NRG President Adrian F.C. Hobkirk is quoted, “We are very pleased to have completed and filed the report, which firmly established the Hombre Muerto North Lithium Project as having significant potential. The smaller environmental footprint, shortened build out time and excellent grade of lithium enhance the attractiveness of the project.” The PEA Report provides support for NRG Metals Inc. to proceed with the development plans for a 5,000 tonnes-per-year lithium carbonate plant, located at its Hombre Muerto North Lithium Project, Salta Province, Argentina. It is the first is step in moving the HMN Project towards potential development. The process developed for the site is based on conventional, After-tax Net Present Value (NPV) 8% discount rate $217 million After-tax Internal Rate of Return (IRR) 28.0% CAPEX Capital Expenditures $93.4 million OPEX Cash Operating Costs (per metric tonnes of lithium carbonate) $3,128 Average Annual Production (lithium carbonate) 5,000 tonnes Mine Life 30 years Payback Period (from commencement of production) 2 years 8 months proven technology for brine operations. The project is located with easy access to energy, and on a salar of development activity. Galaxy Resources Ltd. recently sold the land surrounding the HMN Lithium Project to Korean conglomerate POSCO for $ US 280 million and are continuing to develop their remaining portion of the salar, referred to as the Sal da Vida Project. The project is located in a jurisdiction that is mining friendly (Salta Province), and the Government of Argentina recently announced reducing the corporate tax rate for mining companies to 25% in 2020. Qualified Person StatementsRichard Goodwin, P. Eng., Project Manager for JDS Energy and Mining, Inc., is independent of NRG Metals Inc. and a ‘Qualified Person’ as defined under Canadian National Instrument 43-101. Mr. Goodwin is a mining engineer and Study manager with over 30 years of experience managing mining operations and projects in various commodities such as base metals, precious metals, PGMs, and diamonds in various domestic and international locations. Mr. Goodwin is responsible for the PEA results, participated directly in the production of this press release, and directly related information in this press release, and approves of the technical and scientific disclosure contained herein. On behalf of the board of directors of NRG Metals Inc.: Adrian F. C. Hobkirk, T: Investors / Shareholders Call 855-415-8100 / Direct to Adrian Hobkirk 714.316.3272 The TSX Venture Exchange has not reviewed the content of this news release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this news release. This news release contains certain “forward-looking statements” within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward-looking statements. The reader is cautioned not to place undue reliance on forward- looking statements. We seek safe harbor. via NRG Metals Inc. | Energy Metals Exploration | Junior Mining Corporation https://ift.tt/33tIav8 via New Gold Press Releases https://ift.tt/2KpUHZk NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES August 1, 2019 / Vancouver, BC / NRG Metals Inc. (the “Company”) (“NRG” or the “Company”) (TSX-V: NGZ) (OTCQB: NRGMF) (Frankfurt OGPN), is pleased to announce that it has closed a non‑brokered private placement (the “Private Placement”) raising gross proceeds of CDN$883,950 by the issuance of 7,366,250 units (the “Units”) at a price of CDN$0.12 per Unit. Each Unit will be comprised of one common share (the “Shares”) and one transferable common share purchase warrant (the “Warrants”). Each Warrant will allow the holder to purchase one Share of the Company at a price of CDN$0.16 per Share for a period of five years from the date of closing of the Private Placement. The Private Placement proceeds will be used for development for Argentina property and for general working capital. All Shares to be issued are subject to a four month hold period. The Company paid finder’s fees of 8% cash and 8% warrants to Canaccord Genuity Corp. and PI Financial Corp. About NRG Metals Inc.NRG metals is developing its flagship HMN Lithium Project which is strategically located in the Hombre Muerto Salar, an area of active lithium production by FMC at the Fenix lithium mine, some 12 kilometers south of the NRG project area. The project is surrounded by ground now owned by POSCO, a Korean based lithium producer, as a result of its US$280 million purchase of the area from Galaxy Resources Ltd., an Australian-based producer. Galaxy is also moving their portion of the Hombre Muerto Salar, the Sal de Vida Project, to lithium production. On behalf of the board of directors of NRG Metals Inc.: Adrian F. C. Hobkirk, T: Investors / Shareholders Call 855-415-8100 / Direct to Adrian Hobkirk 714.316.3272 The TSX Venture Exchange has not reviewed the content of this news release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this news release. The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements. via NRG Metals Inc. | Energy Metals Exploration | Junior Mining Corporation https://ift.tt/2MzOZoY via New Gold Press Releases https://ift.tt/2GGaBfT |
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