Medaro Mining Corp. (CSE:MEDA) (OTC: MEDAF) (FWB: 1ZY) (“Medaro” or the “Company”) is pleased to announce the completion of two significant milestones under the joint venture agreement (the “JVA”) with respect to the operation of its Global Lithium Extraction Technologies Inc. (“GLET”) joint venture focused on the development and commercialization of a new, low-cost process (the “Technology”) for extracting lithium from spodumene concentrate. In particular, GLET has successfully completed test tube-scale testing and small prototype-scale testing of the Technology, achieving recovery rates of over 99%.
Pursuant to the JVA, (i) the Company has issued to its joint venture partners an aggregate of 400,000 common shares of the Company and (ii) the Company has been issued an aggregate of 2,875,000 common shares of GLET, bringing the Company’s total ownership interest in GLET to 60%.
Company President, Faizaan Lalani, advises, “This is a tremendous step forward both in the advancement of the Technology and for Medaro. It’s no secret that lithium will be in high demand for the foreseeable future. And with this progress, we move closer to being a contributor to this supply chain. We will now shift our focus to validating the Technology on a commercial level, first by planning for the development of our pilot plant.”
ON BEHALF OF THE BOARD OF DIRECTORS
About Medaro Mining Corp. (CSE: MEDA) (OTC: MEDAF) (FWB: 1ZY)
Medaro Mining is a lithium exploration company based in Vancouver, BC, which holds options on the Superb Lake lithium property located in Thunder Bay, Ontario, the Cyr South lithium property located in James Bay, Quebec, the Yurchison uranium property located in Northern Saskatchewan, the Lac La Motte lithium property located in Val D’Or, Quebec, and the Darlin lithium property, located in Val D’Or, Quebec. The Company is also involved in the development and commercialization of a new process to extract lithium from spodumene concentrate through its Global Lithium Extraction Technologies joint venture. Find out more at: https://medaromining.com/.
For more information, investors should review the Company’s filings that are available at www.sedar.com.