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ADVANTAGE LITHIUM COMPLETES ACQUISITION OF OPTION ON NEVADA LITHIUM PROPERTIES FROM NEVADA SUNRISE GOLD CORPORATION

Advantage Lithium is pleased to announce that, further to the Company’s news release of June 20th,,2016, the Company has completed its acquisition of an option to acquire an interest of up to 70% in three Nevada lithium projects, 50% in two Nevada lithium projects and 100% of certain water rights in the Clayton Valley from Nevada Sunrise Gold Corporation (“Nevada Sunrise”).

Vancouver, British Columbia, August 29, 2016 – Advantage Lithium Corp. (the “Company" or “Advantage Lithium”) (TSXV: AAL.H - http://www.resource-capital.ch/en/companies/advantage-lithium-corp.html) is pleased to announce that, further to the Company’s news release of June 20th,,2016, the Company has completed its acquisition of an option to acquire an interest of up to 70% in three Nevada lithium projects, 50% in two Nevada lithium projects and 100% of certain water rights in the Clayton Valley from Nevada Sunrise Gold Corporation (“Nevada Sunrise”). 

At closing, the Company paid Cdn$500,000 cash and issued 2,071,447 common shares to Nevada Sunrise.  Additional shares and exploration expenditures are required in order for the Company to earn its interests in the properties.  A finder’s fee of $45,670 cash and 182,680 common shares was paid to a third party in connection with the acquisition.  All securities are subject to a four month hold period.  In addition, the securities issued to Nevada Sunrise are subject to a voluntary pooling arrangement expiring 24 months from closing.

Concurrently with the closing of the acquisition, directors Marc Cernovitch and Craig Taylor resigned as directors and Mr. Cernovitch resigned as CEO and CFO.   Mr. Dev Randhawa was appointed as a director and Interim CEO and Mr. Nick DeMare was appointed as CFO and Corporate Secretary.

Complete details of the acquisition and related transactions are set out in the Company’s Filing Statement dated August 12, 2016 which is available on SEDAR. 

About Advantage Lithium Corp.

Advantage Lithium Corp. is a resource company specializing in the strategic acquisition, exploration and development of lithium properties and is headquartered in Vancouver, British Columbia. Common Shares are listed on the TSX Venture Exchange under the symbol "AAL.H". 

ADVANTAGE LITHIUM CORP.

Per:         “David Sidoo”                                                         
                  David Sidoo, President

Tel:  604.685.9316 | Fax: 604.683.1585

                  Email: ndemare@chasemgt.com

In Europe:

Swiss Resource Capital AG

Jochen Staiger – info@resource-capital.ch - www.resource-capital.ch

Cautionary Statement:

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. 

Certain information contained in this press release constitutes “forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", “forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or “has the potential to”.  Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Advantage Lithium which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and the Company and Advantage Lithium disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

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PDAC 2019

Always up to date with the newsletter from SRC

Swiss Resource Capital AG will use the information you provide in this form to keep in touch with you and to provide you with updates and marketing information. To receive our news, you still have to give us permission to send you E-Mails below.

You can change your mind at any time by clicking on the Unsubscribe link, which you can find in the footer of every email you receive from us, or by contacting us at info@resource-capital.ch. We will treat your information with care and respect. For more information about our privacy practices, visit our website. By clicking below, you agree that we may process your information in accordance with these Terms.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here.

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