April 14, 2020 / Vancouver, BC / NRG Metals Inc. (“NRG” or the “Company”) (TSX-V: NGZ) (OTCQB: NRGMF) (Frankfurt OGPN), the Company is pleased to announce it has entered into a cooperation agreement with Sino Lithium Materials Pty Ltd (Sino Lithium) and Chengdu Chemphys Chemical Industry Co. (Chemphys)(collectively Sino Li) for the advancement and development to potential lithium production, of the Hombre Muerto North Lithium Project (HMN Li Project), located in Salta Province, Argentina.
Sino Li has developed a proprietary lithium extraction process which could represent an alternative to the conventional evaporation process currently used in the industry. The process has the potential to significantly increase lithium recovery and reduce the production lead time compared the conventional processes. A summary of the agreement terms are as follows:
NRG will remain the operator of the project. The parties shall work collectively under the Project Advisory Board using best business practices to insure the timely development of the project. Subject to the earn in above, at funding, NRG and Sino LI shall be subject to straight line dilution. NRG and Sino Li intend to complete a formal Definitive Agreement prior to the initiation of Stage 3.
Stage 1 test work has begun at the Chemphys laboratory in Chengdu, China. Chemphys has over 20 years of lithium experience specializing in high purity (99.99+%) lithium carbonate and battery grade lithium hydroxide for the manufacturing of cathode materials and LiPF6 (key raw material for electrolyte) of lithium ion batteries. Their products are recognized by major lithium ion battery materials manufacturers and is an integral part of the electric vehicle supply chain.
On behalf of the board of directors of NRG Metals Inc.:
Adrian F. C. Hobkirk
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