– CANADA, Vancouver – Bearing Lithium Corp. (TSX:BRZ / OTCQB:BRGRF / FRA:B6K1) is pleased to announce the appointment of Dr. Lee Sungwon, a nominee of POSCO, to the Board of Directors. POSCO holds 3.6 million shares in Bearing or 6.7% of outstanding.
Dr. Lee is metallurgical engineer with over 25 years of experience. Dr. Lee is the Director of the Lithium Project Department at POSCO (PosLX) and has been with the company for over 17 years holding various senior roles. Dr. Sungwon holds a Ph.D. in Materials Science and Engineering from the University of Southern California, a M.Sc. in Metallurgical Engineering from the Yonsei University in Korea.
Jeremy Poirier, Bearing’s president and Chief Executive Officer, commented: “We welcome Dr. Lee Sungwon, a representative of POSCO, to the company’s Board of Directors. POSCO has been a continued strong supporter of the Maricunga project and our predecessor, Li3 Energy, where they invested directly into the project and demonstrated their proprietary lithium extraction technology with brine from the project.”
About POSCO & PosLX
POSCO (NYSE:PKX) is a multinational steel-making company headquartered in Pohang, South Korea. POSCO’s shares are traded on a number of global stock exchanges including South Korea, New York, Tokyo, and London with a market capitalization of US$24.1 billion.
POSCO has developed a proprietary technology, PosLX, which has the potential deliver lithium recoveries of over 80% in as little as eight hours with a high purity of 99.9%. This compares to the conventional lithium evaporation process which takes between twelve and eighteen months with recoveries of 50% to 70%. POSCO commissioned a 2,500 ton per year lithium carbonate plant early this year at its Gwangyang Works plant in Korea and is anticipated to help supply its battery making partners LG Chem and Samsung SDI, as well a subsidiary company that produces cathodes for secondary batteries.
About Bearing Lithium Corp.
Bearing Lithium Corp. is a mineral exploration and development company, primarily focused on lithium. Its primary asset is a free-carried 17.7% interest in the Maricunga lithium brine project in Chile. The Maricunga project represents one of the highest-grade lithium brine salars globally and the only pre-production project in Chile. Over US$30 million has been invested in the project to date and all expenditures through 2018, including the delivery of a Definitive Feasibility Study in H1/18, are fully-funded by their earn-in joint-venture partner. Bearing also holds a portfolio of grass-roots exploration projects in the gold district of the Yukon, which are currently optioned to Golden Predator, and a lithium project in Nevada, which is currently optioned to First Division Ventures Inc.
For more information : http://www.bearinglithium.com
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