Tasman Commences Pre-Feasibility Study for Norra Karr Heavy Rare
Earth Element Project, Sweden
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 8, 2014) -
Tasman Metals Ltd. ("Tasman" or the "Company")
(TSX-VENTURE:TSM)(FRANKFURT:T61)(NYSEMKT:TAS). Mr. Mark Saxon,
President and CEO, is pleased to announce the commencement of a
Pre-Feasibility Study ("PFS") for the Norra Karr heavy rare earth
element ("REE") project in Sweden. Following an extensive review
process, Tasman's management has selected a highly qualified
technical team with REE and European experience. Tasman is well
financed, having recently raised $5.2 million which provides the
capital required for the PFS, further metallurgical research,
on-site environmental testwork and monitoring.
The PFS will be led and coordinated by GBM Minerals Engineering
Consultants ("GBM") based in Twickenham, UK. GBM is a specialist
metallurgy and engineering consulting group, who provide service
from testing and design through to EPCM. Other members of the PFS
team include Wardell Armstrong International ("WAI") for geology,
mineral resources, mining and tailings management, Golders
Associates AB ("Golders") for social impact, environment,
permitting and water management, and Denco Strategic Research &
Consulting Inc. for markets and pricing. All consultants have had
previous involvement with the project, most notably GBM who have
managed the metallurgical testing program and flowsheet design for
Norra Karr, and Golders who were responsible for Tasman's
successful Mine Lease ("ML") application and associated
environmental and social impact assessments.
Tasman released its initial Preliminary Economic Assessment
("PEA") for Norra Karr on March 21, 2012, followed by a revision
released on July 11, 2013. Subsequent to the release of the PEA,
management has focused on advancing the development of the
metallurgical flowsheet, which will be further detailed in upcoming
Company news releases. Furthermore, an additional 72 drill holes
will be included in an updated CIM-compliant resource.
"The commencement of the PFS is the next important milestone
in the development of the Norra Karr project, bringing together a
large amount of new technical data," said Mark Saxon, Tasman's
President and CEO. "We are very pleased to have assembled such a
competent technical team. Norra Karr is a very significant heavy
REE project with the potential to underpin Europe's REE needs for
many decades to come, and the Tasman team is excited to be taking
the project to this next stage. Following our recent financing,
Tasman is well positioned to execute on its goals. We are targeting
Q4 2014 for completion of the PFS."
Norra Karr lies 15km NNE of the township of Gränna and 300km SW
of the capital Stockholm in mixed forestry and farming land. The
short time taken from discovery to ML application demonstrates the
efficiency and advantage of operating in a jurisdiction with a
strong and transparent Mining Act and a long term association with
resource industries. The project is proximal to road, rail, power
and operating ports, plus skilled personnel, minimizing the need
for offsite infrastructure to be built by the Company.
The Company also announces the signing of a surface access right
purchase agreement (the "Agreement") with an arm's length private
Swedish landowner on which the Company's Norra Karr project is
located. Pursuant to the Agreement, Tasman will issue 36,000 common
shares in exchange for the exclusive surface access rights to the
property to perform all such exploratory and developmental
activities as Tasman may deem necessary. The issuance of the shares
is subject to TSX Venture Exchange and NYSE-MKT acceptance.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in the United
States. The securities have not been and will not be registered
under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act") or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is
available.
Tasman's Qualified Person, Mr. Mark Saxon, President and Chief
Executive Officer of Tasman and a Fellow of the Australasian
Institute of Mining and Metallurgy and Member of the Australian
Institute of Geoscientists, has reviewed and verified the contents
of this news release.
About Tasman Metals Ltd.
Tasman is a Canadian mineral development company focused on
critical metals including Rare Earth Elements (REEs) and tungsten
(W) in Scandinavia. Tasman is listed on the TSX Venture Exchange
under the symbol "TSM" and the NYSE-MKT under the symbol "TAS". REE
and tungsten demand is increasing, due to the metals' unique
properties that make them essential for high technology and
industry. Since over 95% of REE and 80% of tungsten supply is
sourced from China, the European Commission promotes policy to
develop domestic supply of critical metals to ensure the security
of industry. Tasman receives research funding from the European
Commission.
Tasman's exploration portfolio is uniquely placed, with the
capacity to deliver strategic metals from politically stable,
mining friendly jurisdictions with developed infrastructure and
skills. The Company's Norra Karr and Olserum projects in Sweden are
two of the most significant known heavy REE resources in the world,
enriched in dysprosium, yttrium, terbium and neodymium. The Company
is now focused on the safe, sustainable and responsible development
of its Scandinavian mineral portfolio.
On behalf of the Board,
Mark Saxon, President & CEO
The TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture
Exchange), the NYSE - MKT nor the Frankfurt Stock Exchange accepts
responsibility for the adequacy or accuracy of this news
release.
Cautionary Note to U.S. Investors Concerning Mineral Resources
and Reserves. In this news release, the definition of "mineral
resources" is that used by the Canadian securities administrators
and conforms to the definition utilized by CIM in the "CIM
Standards on Mineral Resources and Reserves - Definitions and
Guidelines" adopted on August 20, 2000 and amended December 11,
2005.
The standards employed in estimating the mineral resources
referenced in this news release differ significantly from the
requirements of the United States Securities and Exchange
Commission (the "SEC") and the resource information reported may
not be comparable to similar information reported by United States
companies. The term "resources" does not equate to "reserves" and
normally may not be included in documents filed with the SEC.
"Resources" are sometimes referred to as "mineralization" or
"mineral deposits". While the terms "mineral resource", "measured
mineral resource", "indicated mineral resource" and "inferred
mineral resource" are recognized and required by Canadian
regulations, they are not defined terms under standards in the
United States and normally are not permitted to be used in reports
and registration statements filed with the SEC. The terms "mineral
reserve", "proven mineral reserve" and "probable mineral reserve"
are Canadian mining terms as defined in accordance with National
Instrument 43-101 - Standards of Disclosure for Mineral
Projects ("NI 43-101") and the CIM - CIM Definition Standards
on Mineral Resources and Mineral Reserves, adopted by the CIM
Council, as may be amended from time to time by the CIM. These
definitions differ from the definitions in the United States
Securities and Exchange Commission Industry Guide 7 ("SEC Industry
Guide 7") under the Securities Act of 1933. Under Canadian rules,
estimates of inferred mineral resources may not form the basis of
feasibility or prefeasibility studies, except in rare cases.
Disclosure of "contained ounces" in a resource is permitted
disclosure under Canadian regulations; however, the SEC normally
only permits issuers to report mineralization that does not
constitute "reserves" by SEC standards as in place tonnage and
grade without reference to unit measures.
The estimation of measured, indicated and inferred mineral
resources involves greater uncertainty as to their existence and
economic feasibility than the estimation of proven and probable
reserves. U.S. investors are cautioned (i) not to assume that
measured or indicated resources will be converted into reserves and
(ii) not to assume that estimates of inferred mineral resources
exist, are economically or legally minable, or will be upgraded
into measured or indicated mineral resources. It cannot be assumed
that the Company will identify any viable mineral resources on its
properties or that any mineral reserves, if any, can be recovered
profitably, if at all. As such, information contained in this news
release and the documents incorporated by reference herein
concerning descriptions of mineralization and resources under
Canadian standards may not be comparable to similar information
made public by United States companies in SEC filings.
Cautionary Statements. Certain statements found in this release
may constitute forward-looking statements as defined in the U.S.
Private Securities Litigation Reform Act of 1995. Forward-looking
statements reflect the speaker's current views with respect to
future events and financial performance and include any statement
that does not directly relate to a current or historical fact. Such
statements reflect the current risks, uncertainties and assumptions
related to certain factors including, without limitations,
competitive factors, general economic conditions, customer
relations, uncertainties related to the availability and costs of
financing, unexpected geological conditions, success of future
development initiatives, imprecision in resource estimates, ability
to obtain necessary permits and approvals, relationships with
vendors and strategic partners, the interest rate environment,
governmental regulation and supervision, seasonality, technological
change, changes in industry practices, changes in world metal
markets, changes in equity markets, environmental and safety risks,
and one-time events. Should any one or more of these risks or
uncertainties materialize, or should any underlying assumptions
prove incorrect, actual results may vary materially from those
described herein. Forward-looking statements cannot be guaranteed
and actual results may vary materially due to the uncertainties and
risks, known and unknown, associated with such statements.
Shareholders and other readers should not place undue reliance on
"forward-looking statements", as such statements speak only as of
the date of this release.
Tasman Metals Ltd.Jim PowellV.P. - Corporate Development+ 1
(647) 478 8952jpowell@tasmanmetals.comTasman Metals Ltd.Mariana
Bermudez+1 (604) 685
9316info@tasmanmetals.comwww.tasmanmetals.com
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