2018 News

Vancouver, B.C., October 23, 2018: New Tech Lithium (the “Company”) (NTM:CSE) is pleased to announce the addition of 12 US Federal Load Mining Claims, totaling 240 acres, to their existing 640-acre Buena Vista Hills Cobalt Project in Pershing County, Nevada. The claims are leased from the same vendor that owns the original core of the project area, Section 15, T25N, R34E, and are added as an amendment to the original lease option agreement. The claims are contiguous with and adjacent to the north side of Section 15.

Specifics of the amendment are as follows (all funds are in US Dollars):

  1. $6,000 cash payment payable within three business days following the Amendment Execution Date + 100,000 NTM shares to be transferred within six (6) business days following the Amendment Execution Date. These payments cover the initial 7-months following the Amendment Execution Date.
  2. After the initial 7-month period after the Amendment Execution Date the original Section 15 lease payment schedule is modified to include an additional $8,000 to be added to the original $25,000 due on the 1st and 2nd anniversaries (May 15, 2019 and May 15, 2020, respectively) of the original lease option execution date.
  3. On the 3rd anniversary of the original lease date (May 15, 2021), an additional $8,000 will be added to the existing $50,000 per-annum minimum royalty payment, to be paid over a 10-year period.
  4. A 4% NSR will apply to the 12 un-patented mining claims. Up to 2% (1/2) of this royalty can be purchased at any time at the discretion of NTM for $500,000.
  5. NTM will make all annual maintenance fee payments due to the BLM and Pershing County by July 15 of each calendar year.

New Tech Lithium is engaged in the exploration and development of promising Cobalt and Lithium projects in America, including the Buena Vista Hills Cobalt project in Nevada, the Fredericktown Cobalt project in Missouri and the Paradox Basin Lithium-Bromine project in Utah/Colorado. The Company is managed by seasoned professionals with extensive experience in mineral exploration and development throughout the world.

The scientific and technical data contained in this news release was prepared and reviewed by Kent Ausburn, PhD, P.Geo., a non-independent qualified person to the Company. Dr. Ausburn is responsible for ensuring that the geologic information provided in this news release is accurate and acts as a qualified person pursuant to National Instrument 43-101 – Standards of Disclosure for Mineral Projects

On behalf of the Board of Directors

“Rudy de Jonge”

Rudy de Jonge, CEO

Neither the OTCQX nor the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Statements in this press release other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, are "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended and Canadian securities laws. Forward Looking Statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company’s business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the Forward Looking Statements.

Key assumptions upon which the Company’s forward-looking statements and information are based include: the price of potash will rise and not fall significantly; the Company’s ability to secure new financing to continue its exploration and development activities; there being no significant changes in the ability of the Company to comply with environmental, safety and other regulatory requirements; the Company’s ability to obtain regulatory approvals in a timely manner; and the Company’s ability to achieve its growth strategy. These assumptions should be considered carefully by readers. Readers are further cautioned that the foregoing list of assumptions is not exhaustive. Although the Company believes that the assumptions on which the forward-looking statements or information are made are reasonable, based on the information available to the Company on the date such statements were made, no assurances can be given as to whether these assumptions will prove to be correct.

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