VANCOUVER, British Columbia, March 02, 2020 (GLOBE NEWSWIRE) — Far Resources Ltd (CSE:FAT) (FSE:F0R) (OTC:FRRSF) and partners BattMat Technologies (BM) and Electric Blue Power (EBP) are pleased to announce the start of an extreme cold temperature field testing program for the VAB Controller©. Initial tests will be carried out on Whiteface Mountain, in northern New York State, located about 1,483 metres (4,865 feet) above sea level. The area recently recorded a record low temperature of -81°C (-114°F), and as such makes a perfect testing ground for the performance of the proprietary VAB Controller© system in harsh conditions.
The first ruggedized VAB Controller© units will be installed and testing will commence around March 7, 2020. The first unit is being installed on an LMC snowcat. The Whiteface Mountain testing program also includes a Ford F-450 and a Chevy Tahoe. Prior to installation, rigorous bench testing of the units will be completed at the unit assembly site in Pennsylvania. From this same site, results of the initial road testing of the system electronics, coming from a ford F250 are also being taken into account. The testing program will compare test results with baseline data logged, using a conventional data logger, on several snowcats and other vehicles operated by a local trail grooming association. Continuous improvement and refinement will occur during testing.This testing program utilizes only some of the vehicle types on which the VAB Controller© can be installed. However, it will demonstrate the capabilities and advantages of using the VAB Controller©, including fleet uses, on a much wider range of vehicles. For example, the Ford F-450 is a test bed for ambulances and light utility trucks. The Chevy Tahoe has features analogous to law enforcement and emergency medical service (EMS) vehicles. This vehicle will continue to be used for government testing and general demonstration purposes.EBP President and CTO, Lee Wheelbarger, commented, “This extremely rigorous testing regime of exposing the system to extreme operating environments will prove that the VAB Controller© will withstand operation in some of the toughest conditions on the planet. In turn, this will establish the system’s reliability in regions where current inefficiencies and high costs in battery maintenance and vehicle operation cause problems for fleet managers and vehicle operators. This test program will prove that the system is not only commercially viable, but will be a cost competitive means of operating vehicle fleets in harsh conditions.”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 BattMatBattMat Technologies Inc. is dedicated to capitalizing on the advancement of battery-focused technologies and applications, including systems for distributed power, marine power and energy storage. More information is available at BattMat’s website: www.battmat.com.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.
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