Vancouver, BC – August 29, 2022 – Recharge Resources Ltd. (“Recharge” or the “Company”) (RR: CSE) (RECHF: OTC) (SL5: Frankfurt) is pleased to announce the following appointments to the Company’s Advisory Board.
The Company announces the addition of Mr. Brad Dixon to its Advisory Board. Mr. Dixon is an attorney based in Boise, Idaho, and a partner with Givens Pursley LLP. He is the co-chair of the Givens Pursley Litigation Group and focuses his practice on a variety of complex commercial litigation matters including construction litigation, secured transactions, real estate, employment, and natural resources.
The company further wishes to announce the appointment of Mr. Hani John El Rayess to its Advisory Board as a M&A and Business Development Advisor. Mr. El Rayess was instrumental in the introduction and acquisition of the Pocitos 1 lithium Salar project as well as numerous other battery metals assets in Recharge’s growing portfolio.
Mr. El Rayess has spent 16 years as a capital market professional and has been a partner at Canada’s Fortress Capital Group since 2014. Mr. El Rayess has acted in Consulting, M&A, Communication and Angel Investor roles across a number of sectors including Mining, Carbon offsets, Crypto, Tech, CleanTech, Telecom, Biotech, Agriculture and Oil and Gas. Mr. El Rayess studied Marketing Management at the British Columbia Institute of Technology, completed the Public Company course at Simon Fraser University and completed the Canadian Securities Course in 2007.
CEO and director, David Greenway states, “Recharge continues to add to its team in Canada, the USA and in Argentina as we enter the most pivotal time in the company’s history. The company continues to advance its portfolio of assets with two fully funded drill programs at Brussels Creek Copper-Gold Project and at the Pocitos 1 Lithium Brine Project in Argentina. We welcome Mr. Dixon and Mr. El Rayess to the Advisory Board and look forward to their valuable input.”
About Pocitos 1 Lithium Brine Project
The Pocitos Project is located approximately 10km from the township of Pocitos where there is gas, electricity, and telephone internet services. Pocitos I is approximately 800 hectares and is accessible by road. Previous exploration and development teams have spent over USD $1.5 million exploring the project, including surface sampling, trenching, TEM geophysics and drilling two 400m holes that had outstanding brine flow results. Locations for immediate follow up drilling have already been designed and identified for upcoming exploration.
Lithium values of up to 125 ppm from Laboratory analysis conducted by Alex Stewart were recorded by A.I.S. Resources Ltd during the project’s first drill campaign in May 2018. AIS used a double packer in HQ Diamond drill holes drilled to a depth of 409 metres and the flow rate of the hole was estimated to exceed 50,000 Litres per minute and observed to continue for more than 5 hours (Investors should note that these estimates were not NI43-101 compliant). Both drill holes had exceptional brine flow rates. Recharge’s plan is to sample or twin the current drill holes and drill a further two holes to work towards a NI 43-101 resource calculation
Recharge announces it has granted 2,847,500 restricted stock units (“RSUs”) to officers, directors, employees, and consultants of the Company. The RSUs are valid for a term of one year and under the terms of the Company’s restricted share unit plan (the “RSU Plan”).
About Recharge Resources
Recharge Resources is a Canadian mineral exploration company focused on exploring and developing the production of high-value battery metals to create green, renewable energy to meet the demands of the advancing electric vehicle and fuel cell vehicle market.
On Behalf of the Board of Directors,
David Greenway, CEO
For further information, please contact:
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding Recharge’s intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Recharge will obtain from them. These forward-looking statements reflect managements’ current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including Recharge’s results of exploration or review of properties that Recharge does acquire. These forward-looking statements are made as of the date of this news release and Recharge assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.