CDSG TO ACQUIRE INTEREST IN LITHIUM CLAYSTONE PROJECT ADJACENT TO TLC DEPOSIT
Las Vegas, NV, March 17, 2022 (GLOBE NEWSWIRE) -- March 17, 2022, China Dongsheng International Inc., (OTC Markets: CDSG) (the “Company” or “CDSG”) is pleased to announce that it has entered into an Agreement with American Lithium Minerals Inc., a Nevada based publicly held corporation, whereby CDSG will have the right to earn up to a Sixty Percent (60%) interest in the West End Lithium Project near Tonopah Nevada.
The Company recognizes the massive growth in the global lithium-ion battery market. With the majority of automakers turning towards the production of Electric and Hybrid vehicles, the Lithium battery market grew to 44.49 billion USD in 2021 and is projected to reach 193.13 billion USD by 2028. Just in the last 12 months the demand for Lithium has resulted in a price gain of over 10x for Lithium Carbonate, one of the key components for battery makers.
The West End Lithium Project is located directly adjacent to the growing resource of the Tonopah Lithium Claims (“TLC”) Project of American Lithium Corp. The TLC Project is sedimentary hosted lithium claystone deposit and possesses a NI 43-101 compliant initial resource of 5.37 million tonnes Lithium Carbonate Equivalent (“LCE”) in the Measured and Indicated category and 1.76 tonnes LCE in the Inferred category. The West End and TLC Projects are located just 6 miles northwest of the town of Tonopah, Nevada and just 200 miles by road from Tesla’s Nevada Gigafactory.
To date, the Lithium at the TLC project appears to be held within relatively near-surface claystones and exploration and drilling continues to expand along a northwest-southeast trend off the main mineralization. The project size compares favorably to the 3.13 million tonnes LCE Proven and Probable Reserves of the Lithium Americas’ Thacker Pass Lithium Deposit located in Humboldt County, about 25 miles from the Nevada-Oregon border.
About the Company: China Dongsheng International Inc. (OTC Markets: CDSG) is an emerging company based in Nevada. The company's principal activity is seeking opportunities in both public and private companies in the technology, natural resource and various other sectors.
Forward-Looking Statements:
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Security and Exchange Commission.
