Pan American Lithium Corp. Forms Technical Advisory CommitteeTue May 25, 4:04 PM
Pan American Lithium Corp. (TSX-V: PL.V) (Pink Sheets: PALTF) today announced that it has formed a Technical Advisory Committee to advise the Company on exploration, process chemistry design and engineering, and scoping, feasibility, and development programs for the Company's lithium brine projects and property interests in Chile and Mexico. The members of the Technical Advisory Committee are Dr. David Terry, Dr. Ronald Richman, and Dr. Tim Lowenstein.
Dr. David Terry currently serves as an independent member of the Board of Directors. He holds a BSc and a Ph.D. in Geology from the University of Western Ontario and a P. Geo. license in the Province of British Columbia. Dr. Terry has over 20 years of experience in the resource sector focused primarily on exploration for a wide spectrum of mineral deposits throughout North and South America. He has held numerous senior positions with both large mining companies and junior exploration companies including IMA Exploration Inc., Boliden Limited, Westmin Resources Limited, Hemlo Gold Mines Inc., Cominco Limited and Gold Fields Mining Corporation. Dr. Terry currently serves as a director and officer of several publicly-listed mineral exploration companies.
Dr. Ronald Richman, a former senior executive with IBM, also currently serves as an independent member of the Board of Directors. Dr. Richman received his Doctorate and Master degrees in Chemistry at the University of Colorado. While with IBM, Dr. Richman managed a global business unit and was heavily focused on worldwide markets and international business relationships. Dr. Richman has most recently worked on the development of alternative biofuels and renewable resources.
Dr. Tim Lowenstein is a Professor in the Department of Geological Sciences and Environmental Studies at Binghamton University in New York. He earned a BA in Geology from Colgate University and a Ph.D. in Geology from Johns Hopkins University. Dr. Lowenstein has over 25 years of experience in sedimentology and low temperature geochemistry applied to chemical sediments, specifically including brine geochemistry at salars in Chile. He is an author of more than 70 peer-reviewed papers and 100 conference presentations, and has served as associate editor for the journals Geology, Geochimica et Cosmochimica Acta, and Journal of Sedimentary Research.
Andrew Brodkey, CEO of Pan American, stated, "We are extremely pleased to have Dr. Terry and Dr. Richman agree to serve in this additional capacity and welcome Dr. Lowenstein to the technical team at Pan American. Dr. Terry has been a major contributor to the Company as a member of the board, and we look forward to his expanded role leveraging his tremendous experience in the resource sector, particularly in South America. Dr. Richman is a recent addition to our Board, and he brings a strong technical background in chemistry complemented by years of business development experience. Similarly, Dr. Lowenstein's years of experience with different aspects of lithium and light metals brine projects are complementary to and strongly supplement the Company's internal technical capabilities. We believe the Technical Advisory Committee will help support our aggressive plans to commercialize the potentially vast lithium and potassium resources available at our nine salars in the Atacama Region III in Chile."
In connection with these appointments, the Company has agreed to pay Dr. Lowenstein a payment of US$1,000 per month and agreed to issue Dr. Lowenstein 200,000 stock options to purchase shares of the Company, each option of which is exercisable at $0.30 per share until May 25, 2015.
The Company has also granted an additional 750,000 incentive stock options under the Rolling Stock Option Plan to Company directors, officers, employees and consultants, each option of which is exercisable at $0.30 per share until May 25, 2015. All grants discussed herein must be approved by the Exchange and the Company's shareholders at the next Annual General Meeting of the Company.
On Behalf of the Board
PAN AMERICAN LITHIUM CORP.
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