VANCOUVER, March 20,
2015 /CNW/ - Tasman Metals Ltd. ("Tasman" or the
"Company") (TSXV:TSM) (Frankfurt:T61) NYSE-MKT: TAS).
Mr Mark Saxon,
President & CEO, announces that the Company has filed on SEDAR
and EDGAR, the National Instrument 43-101 Technical Report (the
"NI 43-101 Technical Report") in support of the Company's
news release dated January 21,
2015. The NI 43 101 Technical Report provides results of the
recently completed positive Pre-Feasibility Study (the
"PFS") for the 100% owned Norra Karr heavy rare earth
element (REE) deposit in Sweden.
The NI 43-101 technical report can be accessed
from the Company's website at www.tasmanmetals.com, under the
Company's profile on SEDAR at www.sedar.com or through EDGAR at
www.sec.gov. The PFS confirms Norra Karr to be an
economically robust project, with a long mine life, and the
capacity to be a major producer of the most critical REE's,
dysprosium (Dy), yttrium (Y), neodymium (Nd) and terbium
(Tb).
As previously reported, PFS highlights
include:
- After-tax Net Present Value (NPV) of US$313 million using a 10% discount rate
- Internal Rate of Return (IRR) of 24% pre tax and 20% after tax
using a 10% discount rate
- Initial capital cost of US$378
million including contingency – low for long mine life heavy
REE producer
- Major exposure to the most critical REE's, with 74% of revenue
from magnet metals Dy, Nd, Pr, Tb, Sm
- Norra Karr is the only REE project at PFS stage within the
European Union
- Project able to produce more than 200 tonnes of dysprosium
oxide per year for at least 20 years
- Unconstrained mine life is in excess of 60 years with extensive
mineralization below and along strike from 20-year pit
- No requirement in flowsheet or economic model for proprietary
or commercially untested technologies
Tasman is now focused on process optimization of
the existing flowsheet, with numerous opportunities relating to
process improvements and cost reductions 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 exploration and
development company focused on critical metals including REE's,
tungsten and chromite 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 80% of
REE and 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"
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, the interpretation and actual
results of the Norra Karr PFS, changes in corporate goals,
unexpected expenditures, 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.
SOURCE Tasman Metals Ltd.