February 20, 2020 / Vancouver, BC / NRG Metals Inc. (“NRG” or the “Company”) (TSX-V: NGZ) (OTCQB: NRGMF) (Frankfurt OGPN), is providing an update on developments in the area of the Hombre Muerto North Lithium Project (HMN Li Project), located in Salta Province, Argentina. A recent site visit by a representative of the Company confirmed that international corporation POSCO, NRG’s neighbor at the project area, is moving forward with the construction of a pilot facility for the production of lithium. Site pictures are available at the Company website at nrgmetalsinc.com. POSCO acquired their ground in 2019 from Galaxy Resources Ltd. for $ US 280 million.
The 3,287-hectare HMN Li project is located on the Hombre Muerto Salar, the premier lithium producing salar in Argentina. The Company completed a resource calculation and Preliminary Economic Assessment (P.E.A.) on the Tramo Claim, contained within the HMN Li Project package. Two production wells are installed on site. Results from the 2019 evaluation including the P.E.A. are available at the Company website at nrgmetalsinc.com. Disclaimer: mineralization hosted on nearby and/or adjacent properties is not necessarily indicative of mineralization hosted on the Company’s property.
The recent site visit was reconnaissance to determine the optimal method to extract a 5,000-liter brine sample for testing. NRG is evaluating several new extraction technologies for lithium production which may be applicable to the project, all of which will require a substantial sample of brine. Further news is expected shortly.
On behalf of the board of directors of NRG Metals Inc.:
Adrian F. C. Hobkirk
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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 benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.
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