- Bacanora Minerals has provided an update on activities being undertaken as part of the Company's upcoming definitive Feasibility Study (FS).

The FS is aimed at establishing the Company's production plan for a 35,000 ("tpa") lithium carbonate operation at the Project (production is contemplated to ramp up following an initial phase of producing 17,500 tpa).

The Company's strategy is to position itself to satisfy continued growth for lithium carbonate in the fast growing sectors of electric vehicles and energy storage. The FS is targeted for completion in late Q1, 2017 and the Company is fully financed through this process.


- Resource upgrade and mine planning work has commenced following completion of infill drilling programme

- Preliminary reserve model and mine plan are being prepared by International Mining Consultants ("IMC")

- Ausenco Limited is approximately 35% of the way through the FS process engineering: The initial process flow sheet has been finalised; Quotations are being sought from international vendors for larger equipment and machinery; Development and optimisation of preliminary operating cost models has commenced

- The expanded Pilot Plant has been operating since May 2016, producing battery grade samples of lithium carbonate which has been supporting the following:

- Distribution of battery-grade lithium carbonate samples to potential off-takers in Asia and Europe: Flow sheet development and optimisation of lithium recoveries and reagent consumption; Operator training

- The Company is working with the SignumBox Group in Santiago to develop long-term lithium pricing scenarios and supply-demand models.

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