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September 05, 2015 2:45 AM ET

Metals and Mining

Company Overview of Sovereign Lithium, Inc.

Company Overview

Sovereign Lithium, Inc. focuses on the exploration and development of mineral properties primarily in the United States. The company was formerly known as Great American Energy, Inc. and changed its name to Sovereign Lithium, Inc. on July 2013. Sovereign Lithium, Inc. is based in Denver, Colorado.

999 18th Street

Suite 3000

Denver, CO 80202

United States





Key Executives for Sovereign Lithium, Inc.

Chief Executive Officer, President, Chief Financial Officer, Secretary and Director
Age: 39
Compensation as of Fiscal Year 2013.

Sovereign Lithium, Inc. Key Developments

Sovereign Lithium, Inc. Files Form 15

Sovereign Lithium, Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock under the Securities Exchange Act of 1934, as amended.

Sovereign Lithium, Inc. Terminates all of its Mineral Exploration Option Agreements

Sovereign Lithium, Inc. announced the company terminated its option to acquire certain unpatented mineral claims in and around Esmeralda County, Nevada (the 'Clayton Valley Property') under the mineral option property agreement (the 'GeoExplor Option Agreement') dated June 13, 2012, among GeoXplor Corporation and the company. The termination of the GeoExplor Option Agreement was effective as of April 10, 2014. The company no longer has any rights or interests in the Clayton Valley Property and has no future obligations related to the Clayton Valley Property or to GeoXplor. The company also announced it has terminated its option to acquire a 60% interest in certain mineral claims in and around Trail, British Columbia (the 'Bear Creek Property') under the mineral option property agreement (the 'GeoExplor Option Agreement') dated June 7, 2012 and with an effective date of April 28, 2012, among 0911325 B.C. Ltd., (Wallach) and the company. The termination of the Wallach Option Agreement was effective as of April 10, 2014. The company no longer has any rights or interests in the Bear Creek Property and has no future obligations related to the Bear Creek Property or to Wallach.

Sovereign Lithium, Inc. Renews Nevada-Based Big Smoky Valley Lithium Project Leases on Basis of First Phase Exploration Results & Regional Activity

Sovereign Lithium, Inc. announced it has renewed 31 claims, (4,960 acres), on the Big Smoky Valley (BSV) Lithium Project for another year on the basis of the results of a Gravity Survey completed on the project in July 2013. The Gravity Survey was the initial component of Sovereign Lithium's 2013 exploration program on the BSV property in and around Esmeralda County, Nevada. James Hasbrouck of Hasbrouck Geophysics handled the analysis of the Gravity Survey's data. As reported in July 2013, the gravity model indicates the presence of a basin that extends over most of the claim block with depths exceeding 500 meters. The defined large catchment basin indicates a geologic structure that has a strong potential for the accumulation of lithium brine from several nearby sources. The defined gravity basin is comprised of two areas of increased bedrock depths separated by a small saddle indicating a large area favorable to the accumulation of lithium bearing brines. The Company's decision to renew these Big Smoky Valley leases also took into consideration recent industry activity in the area. In particular, on October 28, 2013, Ultra Lithium Inc. (ULI) announced it had signed a non-binding Letter of Intent with CCG Mining Inc. in a joint venture to explore and develop ULI's South Big Smoky Valley property in Esmeralda County, Nevada.

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