LAS VEGAS, May 2, 2011 (GLOBE NEWSWIRE) -- Oteegee Innovations Inc. (OTCQB:OTGI) wishes to announce the Company will proceed with a name change to Tucana Lithium Corp signifying its focus on exploration and development of lithium projects. Jordan Starkman, CEO of Oteegee Innovations stated, "The new name symbolizes the next chapter for our Company as we push forward the development strategy for the Abigail Property and our ongoing focus on exploration.
The Company's main exploration target in 2011 will be the recently acquired Abigail Lithium Property located in the James Bay, Quebec region of Canada. The property consists of 222 map-designated cells totaling 11,844 hectares within and adjacent to Nemaska Exploration's Whabouchi Lithium discovery. The Abigail property is located in a gneissic formation between the Lac des Montagnes volcano-sedimentary belt and the Champion Lake granitoids.
The principal exploration target for the property is lithium-bearing spodumene and the Abigail Property is on strike with the high-grade spodumene-bearing pegmatite located on the Whabouchi property. The Abigail property is underlain by the same gneissic formation that hosts the Lac Arques SW pegmatite showings with 1,189 ppm Th and 563 ppm U3O8. Magmatic NI-Cu type deposit associated with ultramafic intrusions may also be found. The Whabouchi spodumene-bearing pegmatite is located in a low magnetic anomaly on the flank of a medium magnetic high. A high magnetic anomaly located about 1 km north of the Whabouchi pegmatite can be interpreted as an ultramafic intrusion. An airborne survey over the Abigail property could lead to the discovery of the same magnetic signature and help locate pegmatite and ultramafic intrusions of the Whabouchi and Nisk-1 type. In addition, the property is easily accessible with year round roads, electrical power intersecting the property from the town of Nemaska, cell phone service throughout the region, and a local airport in the town of Nemaska.
Nemaska's Whabouchi deposit continues to confirm high-grade channel samples illustrating the width of the main mineralized zone. Furthermore, Nemaska has recently announced it is partnering with Chengdu Tianqi. Tianqi is the largest lithium battery material provider in China that uses spodumene concentrate as its raw material to produce lithium carbonate and has extensive expertise in lithium products. This relationship validates Nemaska's deposit and signals the strong potential for their lithium assets in the James Bay region.
"We are excited to commence our detailed exploration campaign on the Abigail project, and are fortunate to have a strong relationship with Nemaska Exploration to help guide our campaign. As we move forward we will announce our dates and locations for the exploration program in preparation for an extensive drill program once all preliminary surface samples are gathered and completed. We know we are situated in a Province that supports and encourages exploration, and in a region that is known to have had major discoveries," stated Jordan Starkman.
The Company is a current reporting issuer with the SEC with 38,390,000 shares outstanding and approximately 11,000,000 shares in the current float.
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Certain statements in this document that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate, "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Oteegee Innovations to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to: (i) the Company's ability to obtain sufficient capital or a strategic business arrangement to fund its current operational or expansion plans; (ii) the Company's ability to build and maintain the management and human resources and infrastructure necessary to support the anticipated growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at .
CONTACT: Investor Relations Foothills Group 408-693-0404 www.foothillsgroup.com Oteegee Innovations Inc. Jordan Starkman, CEO www.oteegeeinnovations.com www.tucanaexploration.com