TSX: CLQ; U.S. OTCQX: CLQMF
TORONTO, June 4, 2012 /CNW/ - Canada Lithium Corp. (TSX: CLQ) (OTCQX:
CLQMF) announced today that it has received the mining licence from
Québec's Ministère Des Ressources Naturelles et de la Faune (MNRF) for
its Québec Lithium Project near Val d'Or.
The Company reports the Québec Lithium Project continues to meet the
critical path schedule dates and remains on target for the $207-million
capital cost. Commissioning of the mine and spodumene processing plant
is anticipated at the end of 2012 and production of first lithium
carbonate at the end of the first quarter of 2013.
Site construction work is now more than 20% complete, and EPCM
contractor GENIVAR Inc. is installing mechanical and electrical
components throughout the process plant. Crushers, ball mills, kilns
and hydrometallurgical components have been arriving on-site and firm
orders, fixed tenders or detailed supply offers have been made for
approximately 50% of the budgeted capital expenditures.
The granting of the mining license follows recent approvals for the
location of the Tailings Management Facility (TMF), waste dumps and
mill site. Several other permits are anticipated, including an
operating permit for the TMF. The main mining fleet of haul trucks,
excavators and dozers is on-site and pre-stripping of the pit area and
orebody is scheduled to commence in late July.
In full production, the open-pit operation will be mining approximately
one million tonnes of ore per year to produce approximately 20,000
tonnes of battery-grade lithium carbonate.
To view site construction, copy the link: http://www.canadalithium.com/s/PhotoGallery.asp into your Web browser.
About Canada Lithium Corp.
The Company holds a 100% interest in the Québec Lithium Project near Val
d'Or, the geographical heart of the Québec mining industry. The Company
is in the midst of building an open-pit mine and processing plant
on-site with capacity to produce approximately 20,000 tonnes of
battery-grade lithium carbonate annually. Metallurgical tests have
produced battery-grade lithium carbonate samples. The Company trades
under the symbol CLQ on the TSX and on the U.S. OTCQX under the symbol
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the
meaning of applicable Canadian securities legislation. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or statements that
certain actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved".
Forward-looking information is based on reasonable assumptions that have
been made by the Company as at the date of such information and is
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance or
achievements of the Company on to be materially different from those
expressed or implied by such forward-looking information.
Although the Company has attempted to identify important factors that
could cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be
no assurance that such information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such information. Accordingly, readers should not place
undue reliance on forward-looking information. The Company does not
undertake to update any forward-looking information referenced herein,
except in accordance with applicable securities laws.
SOURCE CANADA LITHIUM CORP.
For further information:
Peter Secker, President and CEO (416) 361-2821
Olav Svela, Director, Investor Relations (416) 361-2821 or (416) 479-4355 or email email@example.com
Christine Stewart, Renmark Financial Communications Inc. (416) 644-2020 or email firstname.lastname@example.org
For more information, please visit the Canada Lithium website at www.canadalithium.com.
The Company's corporate office is at 401 Bay Street, Suite 2010, P.O. Box 118, Toronto, ON, M5H 2Y4