Bacanora Minerals Ltd Board Change (1495V)

TIDMBCN

RNS Number : 1495V

Bacanora Minerals Ltd

26 January 2017

26 January 2017

Bacanora Minerals Ltd

('Bacanora' or the 'Company')

Board Change

The Board of Bacanora, the Canadian and London-listed (TSX-V: BCN and AIM: BCN) company focused on developing the Sonora Lithium Project ('Sonora' or 'the Project') in Mexico into a world class lithium carbonate operation, announces that Mr. Kiran Morzaria, a Non-executive Director of the Company, has stepped down with immediate effect to focus on his other business interests.

The Board would like to thank Kiran for the valuable personal contribution he has made in assisting with the development of Sonora, which is currently the subject of a Feasibility Study for a 35,000 tpa lithium carbonate operation. The Company is evaluating candidates with the relevant experience to complement its Board, as it focuses on advancing Sonora towards the construction and production phases.

**ENDS**

For further information, please contact:

 
 Bacanora Minerals      Peter Secker, CEO            [e-mail] 
  Ltd. 
---------------------  ---------------------------  -------------------------- 
 Cairn Financial 
  Advisers LLP,         Sandy Jamieson/Liam                         +44 (0) 20 
  Nomad                  Murray                                      7213 0880 
---------------------  ---------------------------  -------------------------- 
 Numis Securities 
  Ltd,                  John Prior/James                            +44 (0) 20 
  Broker                 Black/Paul Gillam                           7260 1000 
---------------------  ---------------------------  -------------------------- 
 St Brides Partners, 
  Financial PR          Frank Buhagiar/ Elisabeth                   +44 (0) 20 
  Adviser                Cowell                                      7236 1177 
---------------------  ---------------------------  -------------------------- 
 Macquarie Capital 
  (Europe) Limited,                                                 +44 (0) 20 
  Corporate Adviser     Raj Khatri                                   3037 2000 
---------------------  ---------------------------  -------------------------- 
 

ABOUT BACANORA:

Bacanora is a Canadian and London-listed minerals explorer (TSX-V: BCN and AIM: BCN). The Company explores and develops industrial mineral projects, with a primary focus on lithium. The Sonora Lithium Project, which consists of ten mining concession areas covering approximately 100 thousand hectares in the northeast of Sonora State. The Company, through drilling and exploration work to date, has established an Indicated Mineral Resource (in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101")) of 4.5 million tonnes (lithium carbonate equivalent) and 2.7 million tonnes Inferred. A Pre-Feasibility Study completed in Q1 2016 demonstrated the positive economics associated with becoming a 35,000 tpa lithium carbonate and 50,000 tpa SOP producer in Mexico. The Company is led by a team with lithium expertise which have proven mine development, construction and operational experience.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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January 26, 2017 02:01 ET (07:01 GMT)