Thu, 28 Oct 2021

  • Lithium prices reaching three-year highs in midst of demand surge1
  • Victory's Smokey Lithium Property in prolific Li region
  • Company focused on advancing exploration efforts

VANCOUVER, BC / ACCESSWIRE / September 20, 2021 / Victory Resources Corporation (CSE:VR)(FSE:VR61)(OTC PINK:VRCFF) ('Victory' or the 'Company') is pleased to provide an update, reinforcing the Company's strategic efforts, led by its lithium exploration in Nevada.

'With the Smokey Lithium property, located in Esmeralda County, which is part of a prolific Lithium area, Victory is committed to lithium exploration at a time when there is a global resurgence in lithium prices related to heightened demand for battery minerals2,' said Mr. Mark Ireton, Victory CEO. 'We are seeing the highest lithium prices in more than three years as the EV revolution accelerates, and Victory is well positioned, and anticipating further advancement on Smokey Lithium in the near term.'

Victory's Smokey lithium project is a clay lithium property that lies approximately 20 miles north of Clayton Valley, and 20 miles west of American Lithium's flagship lithium project. Smokey Lithium is located 25 km northwest of Noram's Zeus Li Project and 35 km southwest of American Lithium Corporation's Tonopah Lithium Claims Property in southwest Nevada. Esmeralda County Nevada is a prolific region for lithium clay deposits, (Noram, Cypress, American Lithium, Spearmint, Enertopia, Jindalee).

The Smokey Lithium property is located 35 Km west of Tonopah, Nevada within the Walker Lane trans tensional corridor on the western margin of the Basin and Range province. The property's geology consists of Miocene - Pliocene tuff deposits, claystones, and siliciclastic beds (Esmeralda Formation) with overlying younger alluvium deposits and desert pavement formation. The claystone, which can carry high lithium concentrations, is observed as highly weathered light grey to tan mounds of unconsolidated clay from 0.10 - 1.50 meters thick. The flat lying nature of the claystones, together with the frequent occurrence of transported cover requires drilling to fully validate and assess Smokey Lithium's the potential as indicated by surface sampling.

Scientific and technical information contained in this press release was reviewed and approved by Mr. Helgi Sigurgeirson, Victory Geologist, and a 'qualified person' under NI 43-101.

1https://www.reuters.com/business/autos-transportation/surge-electric-vehicle-sales-power-lithium-prices-shortages-loom-2021-09-13/

2https://www.afr.com/chanticleer/investors-stampede-mining-s-electrification-frenzy-20210908-p58puq

For further information, please contact:

Mark Ireton, President
Telephone: +1 (236) 317 2822 or TOLL FREE 1 (855) 665-GOLD (4653)
E-mail: IR@victoryresourcescorp.com

About Victory Resources Corporation

VICTORY RESOURCES CORPORATION (CSE:VR) is a publicly traded diversified investment corporation with mineral interests in North America. The company is also actively seeking other exploration opportunities.

Neither 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.

Forward Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'predicts', 'intends', 'targets', 'aims', 'anticipates' or 'believes' or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions 'may', 'could', 'should', 'would', 'might' or 'will' be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

SOURCE: Victory Resources Corp.



View source version on accesswire.com:
https://www.accesswire.com/664661/Victorys-Exploration-Efforts-Building-Momentum-with-Lithium-Resurgance

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