CDSG PLANNING EXPLORATION PROGRAM ON TLC ADJACENT LITHIUM PROJECT WITH BARREL ENERGY INC

Rhea-AI Summary

China Dongsheng International Inc. (CDSG) has announced a partnership with Barrel Energy Inc to advance lithium exploration at the West End Lithium project in Nevada. The partnership aims to utilize innovative lithium extraction techniques on clay-hosted deposits. The WEL project is situated near the TLC Project, which has significant lithium resources. As lithium demand rises, with prices soaring from $27,000 to over $84,000 per tonne in just a year, the exploration program is set to commence in 2023, contingent on permitting. This initiative aims to meet increasing market demand.

Positive

• Partnership with Barrel Energy for advanced lithium extraction methods.
• West End Lithium project is strategically located near the TLC Project, which has substantial lithium resources.
• Rising lithium prices indicate strong market demand, with prices exceeding $84,000 per tonne.

Negative

• None.

News Market Reaction – CDSG

+5.71%

1 alert

+5.71% News Effect

On the day this news was published, CDSG gained 5.71%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Las Vegas, NV., Nov. 16, 2022 (GLOBE NEWSWIRE) -- China Dongsheng International Inc., (OTC Markets: CDSG) (the “Company” or “CDSG”) is pleased to provide an update on our exploration program for our West End Lithium (“WEL”) project.

CDSG will partner with Barrel Energy Inc (OTC: BRLL) (“Barrel”) on its exploration and production endeavors with Barrel due to the highly innovative Lithium extraction methodologies Barrel is currently advancing for clay hosted deposits.

The WEL claims are located in Nye county Nevada, just 6 miles northwest of Tonopah and sit directly within the surrounding outer boundary of the TLC Project being developed by American Lithium Corp. (LI.V) (OTCQB: LIACF).

The TLC Project currently hosts a large NI 43-101 compliant resources of 5.37 million tonnes (Mt) lithium carbonate equivalent (LCE) in the measured and indicated category with a further 1.76 Mt LCE in the inferred category. The present size of the TLC resource is expected to grow following the results of new 2022 drilling, some around the WEL claim area.

Lithium demand has caused the price of lithium carbonate, a key component for lithium-ion batteries, to surge throughout the past year. In November 2021 prices were roughly $27,000 USD per tonne with lithium carbonate prices fetching over $84,000 USD per tonne.

The company’s co-exploration program will begin in 2023 (subject to federal and state permitting), and timed well to provide a new lithium resource to help meet the ever-growing demand.

See attached map of TLC lithium project. CDSG’s West End Lithium claims are located in red.

 

About the Company: China Dongsheng International Inc. (OTC Markets: CDSG) is an emerging company based in Nevada. The company's principal activity is acquiring and developing opportunities in the natural resource sector and complimentary technologies.

Contact:
Harp Sangha
+17025952247/sanghaharp1964@gmail.com
www.cdsgholdings.co

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 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 Security and Exchange Commission.

FAQ

What is the partnership between CDSG and Barrel Energy?

CDSG has partnered with Barrel Energy to utilize innovative lithium extraction methodologies for the West End Lithium project.

When will the exploration program for the West End Lithium project begin?

The exploration program is set to begin in 2023, subject to federal and state permitting.

What is the significance of the TLC Project for CDSG?

The TLC Project, located near CDSG's West End Lithium claims, has a large lithium resource, which enhances the potential value of CDSG's exploration efforts.

How has lithium pricing affected CDSG's prospects?

Lithium prices have surged from $27,000 to over $84,000 per tonne, indicating a strong market and potentially benefiting CDSG's exploration activities.