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Nowea Energy Inc.: Update on our core investment "Mining Project Eastern Europe"
In addition to our corporate news from end of May this year, we would like to inform you about the extremely promising progress made with regard to our core investment, the mining project in Bosnia-Herzegovina. We waited for the concrete development of this fascinating project before publishing any information.
The already available positive information about this project are now confirmed and are even exceeded by the geological report prepared by CSA Global ( https://www.csaglobal.com/ ) and also in the economic analysis prepared by PwC PricewaterhouseCoopers International ( https://www.pwc.com/ ). For example the following statements, among others, are made:
* The deposits have a high potential for lithium and boron mining, which justifies further exploration of the area.
* Previous exploration in the vaporites and lacustrine sediments of the geological basin has identified high levels of borate and lithium mineralization. The preliminary resource estimate indicates high commercial potential for boron and lithium.
* The exploration area of 87.7 km^2 is located in the Republic of Srpska, Bosnia and Herzegovina, thus in Eastern Europe as a favourable location with a solid legal framework, including easy access, readily infrastructure, a good availability of qualified local workers and proximity to the European market. The legal framework is supportive to investors in the mining industry in obtaining concession rights.
* The exploration license covers an area rich in boron and lithium found in neogene sediments.
In the meantime, a professional team is working on the site and a drilling program has already been started to explore the geology of the license area and define the "hotspots". The first drill cores have already arrived at SGS's test laboratory ( https://www.sgs.com/en/mining ). We will inform about the results as soon as possible.
Investor Relations / September 29, 2020
About NOWEA ENERGY:
NOWEA ENERGY is an investment and private equity company with a strong focus on emerging, innovative companies. In particular we offer capital and expertise combined with a wide range of services to growth companies in the energy sector. Innovative companies from various future-oriented industries, such as mobility, e-mobility, energy, mining (strategic raw materials) as well as smart home and industry 4.0, are the focus of our investment.
The Company intends to list the shares. The management expects the process of obtaining a trading symbol and the start of trading in late 2020 / early 2021.
If necessary, further information can be obtained on the Internet at https://noweaenergy.com/.
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