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Pure Energy Minerals Ltd. reports developments tied to its transition from a Nevada lithium resource company toward the evaluation of new strategic prospects. The company previously centered on Clayton Valley lithium brine claims in Esmeralda County, Nevada, and completed an earn-in transaction that transferred owned claims while retaining a 3% net smelter return royalty on commodities from those claims.
Recurring updates include board and management changes, annual meeting voting results, equity incentive grants, and corporate strategy following the option-out of the Clayton Valley Project.
Pure Energy Minerals (OTCQB: PEMIF) appointed Mark Holcombe to its board and granted equity awards on April 22, 2026. Holcombe brings 36 years of finance and energy-transition experience. The company granted 100,000 stock options at $0.36 exercise price expiring April 20, 2031, and 1,564,228 RSUs that vest in one year. All grants are subject to TSX Venture Exchange approval.
The equity awards align management and directors with shareholders and are intended to support company growth and capital markets engagement.
Pure Energy Minerals (OTCQB: PEMIF) announced completion of an earn-in transaction on its Esmeralda County, Nevada lithium brine claims on March 17, 2026.
The company transferred ownership of the formerly 100%-owned claims to the earn-in partner while retaining a 3% net smelter return (NSR) royalty on commodities extracted from those claims. The earn-in related to design, permitting, development and construction of a Direct Lithium Extraction demonstration plant. Management says the deal preserves upside via the NSR while allowing Pure Energy to focus on new strategic directions.
Pure Energy Minerals (OTCQB: PEMIF; TSXV: PE) announced that director Daniel Barnosky has resigned from the Board of Directors effective immediately on March 6, 2026. The company quoted Mr. Morton thanking Mr. Barnosky for his service and wishing him well in future endeavors.
Pure Energy (TSXV: PE; OTCQB: PEMIF) reported the results of its Annual General Meeting held on December 19, 2025. All resolutions presented were approved.
- Voting: 10,700,467 common shares voted, ~31.50% of outstanding shares.
- Board: William Morton was appointed to the board; five directors will serve: Marceau Schlumberger, Daniel Barnosky, Yuwei Hong, Cameron Hosie and William Morton.
- Auditors: Baker Tilly WM LLP were reappointed.
- Compensation: Shareholders approved the company's new Long-Term Incentive Plan.
Pure Energy Minerals (OTCQB: PEMIF) appointed William Morton as President and CEO effective November 24, 2025. Morton brings 30+ years of executive leadership including work at WL Ross & Co and oversight of a clean energy infrastructure fund; he holds degrees from Yale College and Columbia Law School.
The board accepted the resignation of Joseph Mullin as CEO and director effective November 20, 2025. The board granted Morton 364,228 incentive share purchase options at an exercise price of $0.30 per share expiring November 20, 2030. After the grant the company has 2,794,500 options outstanding, representing 8% of shares. Morton is also eligible for equity compensation and performance bonuses.
Pure Energy Minerals (TSXV: PE) (OTCQB: PEMIF) has appointed Yuwei Hong to its board of directors. Hong represents Lithium X Corp, which holds an 11.6% equity stake in Pure Energy. Hong brings over 15 years of experience in management, investment, and consulting, currently serving as vice president of Xizang Zhufeng Resources Co. He previously worked as investment director at NextView Capital and holds a master's degree from the University of Illinois Urbana-Champaign and is a CFA charter holder. He replaces Yuankai Mao on the board.
Pure Energy Minerals (TSXV: PE) (OTCQB: PEMIF) announced the resignation of Mary Little from its board of directors, effective October 21, 2024. Little, who served on the board for nine years, will continue as an advisor to the company. CEO Joseph Mullin acknowledged her leadership and contributions to advancing the CV lithium brine project in Clayton Valley, Nevada.
Pure Energy Minerals (TSXV: PE) (OTCQB: PEMIF) announced that its partner SLB (NYSE: SLB) has completed the earn-in requirements for Pure Energy's Clayton Valley lithium brine project in Nevada. SLB has met technical milestones including continuous production of lithium carbonate at a pilot plant using direct lithium extraction technology. Upon finalizing the earn-in, SLB will take 100% ownership of the project claims, while Pure Energy will receive a 3% net smelter return royalty on all commodities extracted.
The Clayton Valley property comprises 950 placer mineral claims over 9,450 hectares. SLB's pilot plant, described as one of the largest and most advanced DLE plants in the U.S., began producing lithium carbonate in March 2024 after construction started in Q1 2023. Pure Energy's CEO Joseph Mullin expressed excitement about being part of SLB's clean energy technology development through its New Energy business.
Pure Energy Minerals (TSXV: PE) (OTCQB: PEMIF) has signed a Letter of Intent to acquire up to an 85% interest in the Railroad Valley Property in Nevada from Ameriwest Lithium. The 11,201-acre property is a greenfield lithium brine exploration target. The deal involves a three-stage earn-in process over 6 years, requiring total expenditures of $1.95 million in cash/shares and $3.5 million in project costs.
The Railroad Valley basin shares geological similarities with Clayton Valley, which hosts Pure Energy's existing lithium brine project. However, drilling is still required to confirm lithium brine presence at Railroad Valley. No mineral resources have been defined yet. The transaction is subject to a definitive agreement and regulatory approval.