Las Vegas, NV., Nov. 17, 2023 (GLOBE NEWSWIRE) -- Titan Lithium Inc., (OTC Markets: CDSG) (the “Company” or “CDSG”) is pleased to announce it has completed the full transfer of 100% interest in the Titan 1 and Titan 2 Prospecting Licenses in Tanzania into the Company’s’ Kilimanjaro Lithium Ltd (“KLL”) subsidiary.
Mineral rights in Tanzania are held under a number of types of licenses granted under the country’s comprehensive Mining Act. Exploration projects are held by a Prospecting License (“PL”) which allows the holder to conduct a wide range of exploration work until such a time as a mining license is required for exploitation.
The vendor completed the transfer of 100% of the two Prospecting Licenses for Titan 1 and Titan 2, PL 12353/2023 and PL 12338/2023, into KLL on November 14, 2023. The Prospecting Licenses that were transferred were duly recorded pursuant to section 123(1) of the Mining Act in the central register on November 16, 2023. The licenses will be available to view on the company’s website on the “About Us” tab .
These two PLs are considered prospective to the discovery of sediment hosted lithium style mineralization within a country rich in mineral resources. Tanzania is endowed with many types of minerals including gold, iron ore, nickel, copper, cobalt, gemstones, industrial minerals as well as rare earth minerals.
Tanzania is the fourth largest gold producer in Africa and home to advanced critical mineral projects such graphite, lithium and the high-grade nickel-copper-cobalt Kabanga deposit. Earlier this year, under a Presidential plan to fast track such deposits, Tanzania signed agreements worth $667 million for graphite and rare earth projects with several Australian Mining firms. As well, in February 2023, EV maker Tesla signed an agreement under which it will purchase between 17,500 to 35,000 tons per annum of Anode Active Material (AAM) from a producer in Tanzania
“Working closely with the vendor we are very pleased to have the licenses fully transferred”, commented Chairman Harp Sangha. “Our next steps will include the commencement of work that will include a strategic drill campaign designed to produce a maiden mineral resource that we hope will elevate the projects significantly.”
About the Company: China Dongsheng International Inc. (OTC Markets: CDSG), through its wholly owned subsidiary Titan Lithium, Inc., is a lithium explorer and developer with operations in Nevada, USA, and The United Republic of Tanzania.
Contact:
Harp Sangha-Chairman
Sanghaharp1964@gmail.com
+1-702-595-2247
titanlithiuminc.com
Forward-Looking Statements:
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors, or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Securities and Exchange Commission.
