LAS VEGAS, March 21, 2022 - GNCC Capital, Inc. (GNCP.PK) ("The Company", "GNCC" or "GNCP") refers to their Press Release dated March 16, 2022, a link for ease of reference: https://www.otcmarkets.com/stock/GNCP/news/GNCC-CAPITAL-INC-CONFIRMS-COMPLETION-OF-LITHIUM-TRANSACTIONS?id=347976
We have today filed the requisite Regulatory OTCIQ Filing complete with the Agreements as is required for Material Transactions. These will be available by no later than 09:00 AM EST today. A Link: https://www.otcmarkets.com/stock/GNCP/disclosure
GENERAL:-
The transactions were effected by and between USA Lithium Holdings Corporation ("USAL"), a wholly owned subsidiary company of GNCC Capital, Inc. and American Lithium Minerals Inc. (AMLM.PK) ("AMSL"). The financing on a secured basis has been provided by Premier Futures, Inc. ("PFI") which is a wholly owned subsidiary Company of Premier Development & Investment, Inc. (PDIV.PK) ("Premier". Premier is the single largest shareholder of GNCC.
PFI is providing cash advances to USAL totaling no less than $1,375,000 in respect of this transaction.
Premier has elected not to announce nor to make any Regulatory Filings in respect of these transactions as it is not deemed to be a material transaction for Premier.
MANAGEMENT COMMENTARY:-
Your Directors will be providing detailed research reports and our exploration planning on the new GNCC Corporate website; expected for completion this week with an additional further and material update as our other Company's Mining Exploration interests later this week.
Your Directors elected not to overwhelm our shareholders with a deluge of geographical and other data today (this will be on the website due to the sheer amount of information) but to rather introduce our shareholders to what will be material part of your Company's business operations with immediate effect.
Furthermore your Directors believe that our Press Release dated March 16, 2022 comprehensively expressed our pleasure and the enormously positive impact that this transaction has upon our Company. We do not feel it necessary to express further appreciation to all parties involved in this transaction.
SILVERPEAK LITHIUM AND URANIUM PROPERTY DESCRIPTION:-
Shareholders are directed to the filed Agreements as mentioned in this Press Release in order to fully understand the nature of this transaction as well as all geographical co-ordinates listed in the Exhibits.
The salient initial points to which we wish to draw your attention to is as follows:-
- The Silverpeak Project consists of 24 Lode and 27 Placer Claims divided into three Claim Blocks totaling some 1,020 acres; and
- These claims are located in Esmeralda County, Nevada; and Portions of the following:
Silverpeak Uranium: Township 2N, Range 37E Sections 32, 33 and 34 Powerline Lithium (brine): Township 2N Range 39 E Section 7 - Beacon Lithium (brine): Township 2N Range 38 E Section 33 and 34 and Township 1N Range 38 E Sections 3 and 4.
The claims are 30 to 40 miles west of Tonopah, Nevada. All three (3) claim blocks are easily accessed from US Highway 95, Nevada Highway 265 and well-maintained unpaved roads. - The northerly tip of the Silverpeak Mountains have been known since 1952 to host a uranium occurrence (known as "Coaldale" as it is three (3) miles south of Coaldale Junction). AMSL began evaluating the area in 2015 and continued its study during the Trump Administration, which had identified uranium as a US national priority. AMSL staked the 24 CDU and Silverpeak lode claims during the period from February 2020 through January 2, 2021; and
- A few miles to the east of the Silverpeak uranium claims is the Big Smokey Valley, which is immediately north of Clayton Valley, home of the United States' best-known (and only presently-producing) lithium facility; and
- Drilling by the USGS / US Department of Energy in the 1970's identified lithium in sediments and brines under or adjacent to the Smokey Valley Playa. This was the same government initiative that also drilled Stonewall Flat, AMSL discovery project located in Lida Valley, immediately to the south of Clayton Valley. (See USGS Open-File Report 81-962.) During the 3rd Quarter of 2021, AMSL identified two lithium brine targets in Big Smokey Valley; and
- Lithium Brine Targets were (1) Powerline Area, an apparent site of USGS borehole AF-13. 12 "MCL" placer claims were staked here; and (2) Beacon Area, a small playa next to Nevada Highway 265 which displayed similarities to the SE claim block at Stonewall Flat. 15 "BJ" placer claims were staked here; and
- Trenches and open pits from prior gold and / or uranium mining / exploration are located on the Silverpeak claims; and
- The southern Smokey Valley is a closed intermontane basin surrounded by largely volcanic mountains, some of which are lithium bearing. Claystone on the property would likely have been deposited when the basin was occupied by a lake during a past period of wetter climate.
- The Uranium occurrence in the northerly Silverpeak Mountains is found in veinlets located in a small hill of welded tuff.
- As with AMSL's Company's Stonewall Flat property, the potential is seen to be a brine deposit similar to the Clayton Valley deposit which, for many years until the present, has been the only producing United States lithium deposit.
Forward Looking Statements:-
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions.
The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file with the OTC Markets Group.
Contact Information:
GNCC CAPITAL, INC.
Telephone: (702) 990-0156
Investor Relations Contact:
E Mail:
Twitter: https://twitter.com/gncccapital
SOURCE GNCC Capital, Inc.
