Far Resources and Partners Provide Update on VAB Controller© Testing and Our Response to the Coronavirus
VANCOUVER, British Columbia, March 19, 2020 (GLOBE NEWSWIRE) — Far Resources Ltd (CSE:FAT) (FSE:F0R) (OTC:FRRSF) and partners BattMat USA Corp. (BMUSA) and Electric Blue Power (EBP) would like to provide an update on testing operations of its Vehicle Automated Battery/Block Controller and Monitoring System (VAB controller©) and on the effects of the Covid-19 (Coronavirus) pandemic on the company’s current activities.
Our Response to the Covid-19 PandemicAt Far, our focus is, first and foremost, on our employees’ safety, and on keeping our operations running effectively and safely in order to deliver results to our shareholders. The Covid-19 (Coronavirus) outbreak has been classified by the World Health Organisation (WHO) as a pandemic, and it continues to spread quickly across the globe. We are carefully monitoring the evolution of Coronavirus on a daily basis, and we are aligning our activities with recommendations from WHO and local governments to do our part in minimizing its spread.Toby Mayo, President of Far, stated: “All staff, where possible, are now working from home. We are holding all internal meetings by video conference and we have restricted business travel outside our country of residence. We have implemented an employee self-monitoring plan within our work places, and asked our teams to practice social distancing. We have also adopted proactive measures for any member of our team who may feel ill or may be otherwise at risk. We are confident of being able to continue business as usual at this time.”Our international team has collaborated effectively while working remotely for some time and we are equipped to do so on a long-term basis.VAB Controller© Moves from High Altitude to Highway TestingAfter this successful phase of testing at altitude, subsequent phases will continue, including additional cold weather testing, highway testing, and the introduction of the VAB Controller© to potential teaming partners.Our partner EBP, under the expert direction of its CTO, Lee Wheelbarger, has now successfully conducted cold weather testing and field operations of the VAB Controller© on Tug Hill, adjacent to Whiteface Mountain, New York, including data collection on field test vehicles (see press release dated March 2, 2020). Additional cold weather testing will continue in a controlled environment where specific temperatures are required. This critical data will be analysed and integrated as part of the VAB Controller© to best meet the functionality requirements of end users.Lee Wheelbarger, CTO of EBP, commented: “Not only has this testing program provided critical data for the development of the VAB Controller©, but through the invaluable cooperation of the Turin Ridge Riders and the New York State Snowmobile Association, we have also been able to improve the safety and information technology used by members in connection with snow trails grooming operations.”EBP is prepared to next undertake cross country testing on a variety of different vehicles on its planned trip from the East Coast of the United States to the West Coast (and return). This will provide the opportunity to not only further test the system but to interface with potential teaming partners to incorporate customer requirements into the design in the design phase, and permit the VAB Controller© to be customized to the needs of specific users and thus increase the efficiency and cost-effectiveness of the development phase.For and on behalf of the BoardToby Mayo
President and CEOAbout FarFar Resources Ltd. is a Canadian battery and technology metals exploration and development company with lithium exploration projects in Canada and the USA. In Canada, Far is advancing its Zoro Lithium Project, located in the mining-friendly Snow Lake region of Manitoba. Zoro covers numerous known lithium pegmatite dykes and hosts the company’s 1.1 million tonne resource (0.93% Li2O at a 0.3% cutoff), plus an additional fifty targets. The company also holds a 60% stake in the Hidden Lake Lithium Project in Northwest Territories. In the USA, the company owns the Winston Project in New Mexico, a historic mining property with potential for bonanza-grade silver and gold.More information is available at Far’s website: www.farresources.com.About BattMat USA Corp.BattMat USA Corp. is dedicated to capitalizing on the advancement of battery-focused technologies and applications, including systems for distributed power, marine power and energy storage.About Electric Blue PowerElectric Blue Power, LLC operates the all-electric vessel Electric Blue Yacht and is developing the VAB Controller® and other related designs of inventor Lee Wheelbarger. You can read more about EBP at www.electricbluepower.com.Information ContactL. Frank Anderson, Director
Far Resources Ltd.
+1 (604) 253-3444The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.Forward Looking StatementsThis news release may contain forward-looking statements, which relate to future events or future performance, including planned exploration, and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the company. Readers are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. All of the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.