Kairos Increases Lithium Land Package in Chile by 150%; Nominates Founder of Millennial Lithium to the Board
Additional land includes expansion to one of Kairos' high-priority lithium brine projects, where near-surface samples have assayed up to 1280 mg/l
TSX Venture Exchange: "KRS"
CALGARY, Nov. 27, 2017 /CNW/ - Kairos Capital Corporation ("Kairos" or the "Company") is pleased to announce that it has increased its lithium project portfolio, from twelve properties totaling 53,600 hectares, to fifteen properties encompassing 134,200 hectares or 1342 km2 - an increase of 150% in land size. The projects are located in Chile - the world's leading lithium producer and host to world's largest, high-grade lithium reserves. A total of 4,600 hectares were added to one of the Company's most prospective, high-priority projects - Salar de Helados – where near-surface samples have assayed up to 1280 mg/l (see news release dated Jan 23rd, 2017). A further 68,100 hectares were staked in the Salar de Pintadas and 7,900 hectares in the Salar de Llamara, located in the costal range of Chile.
The Company has also nominated Mr. Andrew Bowering to the board of directors. Mr. Bowering has over 28 years of experience in the mining sector, including operating in South America since 2007. He has founded and operated successful mineral exploration and development companies worldwide. He is a founder, director and significant shareholder of Millennial Lithium Corp, one of the leading Argentine lithium exploration companies. Millennial Lithium recently gained market attention through a 17% strategic investment by one of the world's leading clean energy companies.
Mr. Bowering, stated, "I am thrilled to join the team at Kairos and believe strongly that the asset package the Company has assembled is best in class. I look forward to working with management and the board to make Kairos into a success for all stakeholders."
News Highlights
- 150% increase in size of lithium project land package in Chile, which is the world's leading lithium producer and host to world's largest, high-grade lithium reserves
- Land package now includes fifteen projects encompassing 134,200 hectares
- New land has been added to one of the company's flagship projects (Helados), where near-surface samples have assayed up to 1280 mg/l, and where the company is currently undergoing exploration activity
- Founder of Millennial Lithium nominated to Kairos Board of Directors
- All of Kairos' properties are 100% owned without any encumbrances such as overriding royalties or net smelter royalties or similar.
Steve Cochrane, CEO and President of Kairos Capital, commented, "We are entering a very exciting time for the company. Our technical team has not only increased our Chile Lithium land package by 150%, it is also advancing our exploration programs on our most prospective lithium brine projects, which have near-surface samples assaying up to 1410 mg/l (Coipasa) and 1280 mg/l (Helados). We have also nominated the former founder of Millennial Lithium - Mr. Andrew Bowering - to the board of directors. Mr. Bowering's experience in the South American Lithium sector, and his International network, will be an invaluable asset to Kairos going forward."
Kairos is pleased to confirm that the information circular in respect of the upcoming annual and special meeting of shareholders to be held on December 11, 2017 has been mailed to shareholders and that Mr. Bowering's nomination has been included therein. The Company also proposes to change its name to Lithium Chile Inc., to better reflect the Company's business activities.
Kairos also regrets announcing the sudden passing of one of the Company's directors and corporate secretary, Mr. Douglas Stuve. Doug unexpectedly passed away Wednesday November 22nd. He will be deeply missed by all of us here at Kairos and our thoughts are with his family at this difficult time.
The technical information in this corporate presentation has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43- 101 and reviewed on behalf of the Company by Terence Walker, P. Geo. Chief Geologist and Vice President of Exploration for Kairos Capital Corporation, a qualified person.
Kairos also announces that its financial results for the third quarter ended September 30, 2017 consisting of the unaudited condensed consolidated interim financial statements and management's discussion & analysis ("MD&A") have been filed on SEDAR and can be viewed at www.sedar.com
About Kairos Capital (TSX-V: KRS)
Kairos Capital is advancing a lithium property portfolio consisting of approximately 134,200 hectares on fifteen salars in Chile. The Kairos properties include 56 square kilometres on the Salar de Atacama which hosts the world's highest lithium concentration and is currently the source of about 30% of the world's lithium production. Kairos also owns a significant Copper/Gold/Silver property portfolio consisting of approximately 266 square kilometers over 6 different properties located in Chile. Kairos has been conducting preliminary exploration work which included surface sampling, geological mapping, geochemistry and IP geophysical surveys as well as recent drilling on the properties. Kairos Capital's common shares are listed on the TSX Exchange under the symbol "KRS".
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Forward Looking Statements
This news release may contain certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects", "believes", "aims to", "plans to" or "intends to" or variations of such words and phrases or statements that certain actions, events or results "will" occur. In particular, this news release contains forward-looking statements relating to, among other things, management of the Corporation's views regarding its properties and the ability of the Corporation to conduct exploration on its properties.
You are cautioned that the following list of material factors and assumptions is not exhaustive. Specific material factors and assumptions include, but are not limited to: the general stability of the economic and political environment in which the Corporation operates; the timely receipt of required regulatory approvals; the ability of the Corporation to obtain future financing on acceptable terms; currency, exchange and interest rates; operating costs; and the success the Corporation will have in exploring its prospects and the results from such prospects. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation does not undertake to update any forward-looking statements herein, except as required by applicable securities laws. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
SOURCE Kairos Capital Corporation
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