With the
Addition of Rodrigo Javier De La Serna Correas to Its Board of
Directors (ccnm)
TORONTO, ONTARIO--(Marketwire - Sept. 12, 2012) -
Rodinia Lithium Inc. ("Rodinia" or the "Company") (TSX
VENTURE:RM)(OTCQX:RDNAF) is pleased to announce the appointment of Mr.
Rodrigo Javier de la Serna Correas to the Company's Board of Directors. Mr. de
la Serna will be instrumental in providing legal, financial, and strategic
guidance to the Company in Salta, as Rodinia continues its strategy of becoming
a high-grade, low-cost producer of
lithium carbonate and potash. The Company
welcomes Mr. de la Serna to the Board and looks forward to working with him as
the Company's strategic focus is realized.
Mr. de la Serna is a commercial lawyer residing in
Salta, Argentina where he
has practiced law for over a decade. As legal advisor to the Government of
Salta
Province, Mr. de la Serna participated in the creation of a state run company
known as Recursos Energeticos y Mineros S.A. ("REMSA"). REMSA was created in
May, 2008 with the purpose of exploring and developing mineral properties, with
a focus on renewable energy sources. REMSA currently controls the natural gas
supply of the Puna region and plays an active role in mining within the Province
of Salta. Mr. de la Serna has since become involved with various mining
enterprises and has successfully helped finance, commercialize and/or develop a
number of projects.
William Randall, Rodinia's President & CEO, commented, "We are extremely
pleased to welcome Mr. de la Serna to the board, adding a vital presence in
Salta through his distinguished status within the community.
Mr. de la Serna
will bring a wealth of experience to the board as we develop the Salar de
Diablillos through to commercial production."
Mr. de la Serna replaces Mr. David Stein who tendered his resignation from
the Board of Directors of the Company effective September 4, 2012. Mr. Stein has
resigned in order to focus on other work commitments, however, he has agreed to
remain involved with the Company on an advisory basis.
William Randall added, "David has been a key member of the Rodinia team over
the past four years, and played an instrumental role in helping the Company
transition into the lithium-brine exploration and development business. On
behalf of the board and management team, I would like to thank him for his
contributions to the success of the Company and wish him well in his other
endeavours."
In connection with his appointment to the board of directors, the Company has
granted Mr. de la Serna 200,000 stock options of the Company. The options shall
be exercisable at $0.17 and shall expire on September 12, 2017. The options
remain subject to the receipt of regulatory approval, including the approval of
the
TSX Venture Exchange, and shall remain subject to a statutory four month
hold period.
About Rodinia Lithium Inc.:
Rodinia Lithium Inc. is a Canadian mineral exploration and development
company with a primary focus on Lithium exploration and development in North and
South America. The Company is also actively exploring the commercialization of a
significant Potash co-product that is expected to be recoverable through the
lithium harvesting process.
Rodinia's Salar de Diablillos lithium-brine project in Salta, Argentina,
contains a
recoverable resource of 2.82 million tonnes lithium carbonate
equivalent and 11.27 million tonnes potassium chloride equivalent. The project
contains a recoverable inferred resource of 952,553,000 m
3 grading
556 mg/L lithium and 6,206 mg/L potassium. Throughout 2012, Rodinia will focus
on continuing to develop the Diablillos project by completing additional
drilling and advancing through feasibility study.
The Company also holds 100% mineral rights to approximately 70,000 acres in
Nevada's lithium-rich Clayton Valley in Esmeralda County, and is currently in
the process of assessing the size, quality and processing alternatives of this
deposit. The Clayton Valley project is located in the only known lithium-brine
bearing salt lake in North America, and looks to represent the only new source
for domestic lithium carbonate supply.
The Projects are supervised by Ray Spanjers, Rodinia's Manager of
Exploration. Mr. Spanjers is considered a Qualified Person, as defined by
National Instrument 43‐101 and has reviewed and approved the scientific and
technical contents of this press release.
Please visit the Company's web site at
www.rodinialithium.com or
write us at
info@rodinialithium.com.
Cautionary Notes
Except for statements of historical fact contained herein, the information in
this press release constitutes "forward-looking information" within the meaning
of Canadian securities law. Such forward-looking information may be identified
by words such as "plans", "proposes", "estimates", "intends", "expects",
"believes", "may", "will" and include without limitation, statements regarding
the impact of the appointment; the potential of the Diablillos property; the
potential results and timetable for further exploration with respect to the
Clayton Valley project and the Diablillos property, the timetable with respect
to future acquisitions and exploration developments at Clayton Valley and
Diablillos, timetable for further exploration, analysis and development, title
disputes or claims; and governmental approvals and regulation. There can be no
assurance that such statements will prove to be accurate; actual results and
future events could differ materially from such statements. Factors that could
cause actual results to differ materially include, among others, metal prices,
competition, financing risks, acquisition risks, risks inherent in the mining
industry, and regulatory risks. Most of these factors are outside the control of
the Company. Investors are cautioned not to put undue reliance on
forward-looking information. Except as otherwise required by applicable
securities statutes or regulation, the Company expressly disclaims any intent or
obligation to update publicly forward-looking information, whether as a result
of new information, future events or otherwise.
FOR FURTHER INFORMATION PLEASE CONTACT:
Investor Relations
Investor Cubed Inc.
+1 (647) 258-3311
OR
Aaron Wolfe
Rodinia Lithium Inc.
Vice-President, Corporate Development
+1 (416) 309-2696
info@rodinialithium.com
www.rodinialithium.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Experienced board and management focused on the Lithium sector.
