Barrel Enters Agreement for Titan X Lithium Project in Tanzania

Las Vegas, NV, June 07, 2023 (GLOBE NEWSWIRE) -- Barrel Energy Inc., (OTC Markets: BRLL) (the “Company” or “Barrel”) is pleased to announce it has signed an agreement with Kokanee Placer Two (“Kokanee II”) to acquire the “Titan X Lithium Project” in Tanzania.

The new Titan X Lithium Project is located in northeastern Tanzania, a country rich in mineral wealth and active in the EV battery-material supply chain (i.e. the recent Tesla-Uranex deal.) Titan X sits directly south of and is directly adjacent to, the massive Titan 1 lithium project of Titan Lithium (OTC: CDSG).

The project is located near excellent infrastructure with access by tertiary roads off of a paved highway with a nearby rail line, two international airports at Arusha and Kilimanjaro, and an ocean shipping port in the city of Tanga.

To date, the Titan 1 project (CDSG) has returned unparalleled results reporting widespread high-grade lithium within clay soil. Titan 1 covers over 65 square kilometers and grades approximately 1% Li2O. In some samples towards the south-end of Titan 1, very near to “Titan X”, the recorded grades were up to 4.8% Li2O.

Harp Sangha, Chairman of Barrel Energy states, “We are very pleased to have been able to locate such a top-tier lithium project for Barrel. The Titan 1 project has every indication to be a world-class standout and our Titan X project holds great promise as recent prospecting returned surface lithium grades similar to Titan 1.”

Location of the Titan X south of the Titan 1 Project.

Please click here to view image

The Titan X Lithium Project measures 97.4 square kilometers in size (approx. 24,075 acres) and spans a sparsely vegetated playa basin that is likely the southward extension of the generally north-south trending Titan 1 mineralization.

Tanzania has one of the fastest growing economies in Africa and mining is one of the core sectors for the nation. Barrel’s management has a wealth of in-country experience and the Company is presently reviewing additional geologic targets to expand our battery metal portfolio.

About Barrel: Barrel Energy Inc., (OTC Markets: BRLL) is focused on several ventures within the green energy and battery minerals sector and the rapid development of valuable production opportunities throughout North America and abroad. The company holds important joint venture agreements to advance technologies and processes for Electric Vehicle batteries.

Please visit our new website and our twitter for more updates. 

Contact:  Harp Sangha/Chairman


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.

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