Sienna Resources Inc. (“Sienna” or the “Company”) (SIE—TSX.v) (A1XCQ0 –FSE) (HBNRF—OTCBB) wishes to announce that Sienna has engaged Equity Exploration Consultants Ltd. to undertake the 2016 Yukon work program. Sienna Resources still maintains its Yukon property that lies directly west of the Golden Saddle Discovery that Kinross (K-TSX) previously acquired from Underworld and directly north of Kaminak Gold Corporation’s (KAM—TSX.v) Coffee discovery. Goldcorp Inc. (G-TSX) has just announced a proposed acquisition of Kaminak for approximately $520 million.
Sienna has also just recently acquired the “Esmeralda Project” which is prospective for lithium. This new prospect lies within the USA’s primary lithium address in the Clayton Valley of Nevada. The Clayton Valley hosts Albemarle’s (ALB-NYSE) Silver Peak mine which is the only operating brine based lithium mine in North America. The Clayton Valley is one of the few locations on earth to contain commercial-grade lithium-enriched brine and recently Pure Energy Minerals Limited (PE—TSX.v) signed a supply agreement with Tesla Motors Inc (TSLA-Nasdaq) to potentially supply lithium hydroxide from its Clayton Valley deposit. Management is currently formulating plans to commence operations on this new prospect.
Management will also be presenting at the 8th annual Industrial Mineral Events Lithium Supply and Market Conference in Las Vegas May 24-26. “As an exclusive and one-of-its-kind gathering within the lithium industry, running for the eighth time, Lithium Supply & Markets will once again welcome global industry players from throughout the lithium value chain. The chosen city, Las Vegas, will prove the best location as it is close to Tesla’s highly anticipated Gigafactory as well as numerous lithium mine projects in Nevada. Despite falling prices for a range of commodities in 2015, the lithium market has stayed positive. Moving into 2016, upward price pressure is expected to continue with supplies looking tight and demand set to keep increasing.” Management is looking forward to attending the world’s preeminent lithium conference. This forum will bring together the majority of the global industry leaders in the space and we are pleased to be able to properly position the Sienna story within this fast growing sector of the resource world. Management will be able to sit down directly with fund managers, individual investors, regional geological and hydrological experts and other like-minded company managers.”
Jason Gigliotti, President of Sienna states, “While we are focused on growing and developing our lithium assets in the Clayton Valley of Nevada, it would be imprudent to not continue to investigate our properties in the Yukon. Clearly with this proposed $520 million acquisition of our neighbour Kaminak by Goldcorp, the interest in the Yukon is only getting stronger. Management looks forward to a very active 2016 work season on multiple fronts.”
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Sienna Resources Inc.
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