Cruz Battery Metals Corp. (the “Company” or “Cruz”) (CSE: CRUZ) (OTC Pink: BKTPF) (FSE: A40YSN) announces that further to its news release dated January 10, 2025, it has closed a purchase agreement with two arm’s-length parties to acquire a 100% interest in the 580-acre ‘Central Clayton Valley Lithium Brine Project’ located in the heart of Clayton Valley in Esmeralda County, Nevada, USA. This new project consists of 29 claims completely surrounded by SLB’s (formerly Schlumberger Limited) Clayton Valley lithium brine project. Cruz now has a footprint of 820 acres prospective for lithium brine in Clayton Valley, Nevada.
James Nelson, President of Cruz, commented “We are pleased to close the acquisition of the ‘Central Clayton Valley Lithium Brine Project’ which has access to the deepest parts of the Clayton Valley lithium brine basin and are completely surrounded by SLB’s (formerly Schlumberger) claims. We feel that the timing of this acquisition aligns well with a shift from ferociously negative sentiment around lithium and EV’s over the last two years, towards a more positive outlook. The recent data clearly shows that EV sales are increasing and the momentum for EV sales globally is in fact strengthening, not weakening. We feel domestically sourced lithium projects in 2025 will garner significantly more market interest than the previous two years. Management is excited to enter a period of increased corporate activity in 2025 and the potential growth this year may bring for Cruz shareholders.”
According to a CNBC article dated January 2, 2025, China’s push to develop its own electric cars hit a tipping point in July, with the share of new energy vehicles sold accounted for more than half all passenger cars sold that month, according to the passenger car association. New energy vehicles include battery-only and hybrid-powered cars. The trend persisted through November, which saw a penetration rate of 52.3%, according to association data.
On January 3, 2025, GM announced that for the fourth quarter, sales were up 21% from the year-earlier period. Electric vehicle sales jumped 50% for the quarter and 125% for the year, roughly doubling our market share over the course of the year. GM was the #2 seller of EVs in the U.S. across the second half of 2024.
Announced on September 11, 2024, Pure Energy Minerals Ltd.’s partner, SLB, has now completed a comprehensive technology demonstration and testing program as required to earn-in to the company’s 100-per-cent-owned Clayton Valley lithium brine project (CV project) in Esmeralda County, Nevada.
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