Pure Energy Minerals Limited announced that exploration borehole CV-7 has been successfully drilled to its target depth (TD) of 2,000 ft (610 m) below ground level at its Clayton Valley South Lithium Brine Project (CVS Project), located near Silver Peak, Nevada. Licensed Nevada well drillers from Harris Exploration Drilling & Associates Inc. employed a variety of techniques to complete the exploration borehole, but diamond core drilling covered the lithium-prospective stratigraphy from approximately 500 ft (152 m) to TD at 2,000 ft (610 m). Core recovery was excellent throughout the target interval (averaging well over 90%). After completing the core hole, the drillers subsequently reamed the borehole to a diameter of 12.25 in (31 cm) to allow for installation of temporary casing. Pure Energy geologists collected representative samples of drill core from aquifers of interest for testing of physical and hydrogeological properties at accredited laboratories. Preliminary observations of fluid conductivity, lithology, and other geological properties of the sediments are encouraging and consistent with other successful lithium brine exploration boreholes drilled at the CVS Project. Given the encouraging geology encountered, the team has decided to convert the borehole into a temporary exploration well for brine sampling and possible later pumping tests. After the temporary well casing is installed and well development is complete (air-lifting to remove drilling fluids from the well), the Company expects to conduct downhole geophysical logging to investigate fluid and geological properties. Hydrogeologists will commence detailed sampling of brine from the well as soon as possible in early to mid January. Sampling should be completed in two to three weeks. The data from CV-7 will be incorporated into the forthcoming update of the mineral resource for the CVS Project, and a full discussion of the hydrogeology and chemistry of CV-7 will be included in the subsequent technical reports.