Press release 8. April 2014
Vancouver, Canada - Tasman Metals Ltd. ("Tasman" or the "Company") (TSXV: TSM; Frankfurt: T61); (NYSE-MKT: TAS). President and CEO Mark Saxon announces the start of a Pre-Feasibility Study ("PFS") for the Norra Karr (Heavy Rare Earth / "REE") rare earth project in Sweden. After careful review, Tasman's management has selected a highly qualified team of engineers with experience in the REE sector in Europe. Tasman is well funded and recently raised $ 5,2 million to conduct a PFS, other metallurgical surveys, and environmental tests and controls on site.
The PFS is overseen and coordinated by Minerals Engineering Consultants ("GBM") based in Twickenham, UK. GBM is a consulting group specializing in metallurgy and technology that supports companies in investigations and planning work up to EPCM. Other members of the PFS team are Wardell Armstrong International ("WAI") - responsible for geology, mineral resources, mining and the treatment of processing residues -, Golders Associates AB ("Golders") - responsible for social and environmental matters, licensing procedures and water treatment - andDenco Strategic Research & Consulting Inc. - responsible for markets and pricing. All consultants were already involved in the project, above all GBM, under whose direction the metallurgical analyzes and the creation of the flowchart for Norra Karr were carried out, and Golders, who were responsible for the successful procedure for granting a mining license ("ML") and the associated associated test procedures for assessing the environmental and social impacts.
Tasman published its first Economic Framework Study (“PEA”) for Norra Karr on March 21, 2012, and the revised version was submitted on July 11, 2013. After the PEA was published, management focused on further developing the metallurgical flowchart, which will be described in more detail in the company's next press releases. In addition, the data from 72 additional drill holes will be included in a new CIM compliant resource estimate.
"The initiation of the PFS is the next major milestone in the development of the Norra Karr project, which will collect a large amount of new technical data," said Mark Saxon, Tasman President and CEO. “We are pleased that we were able to put together such a competent team of technical experts. Norra Karr is a very important rare earth project that has the potential to meet European heavy rare earth needs for decades to come and the Tasman team is eager to move the project to the next stage of development. With the latest funding, Tasman is financially armed to deliver on its goals. We plan to close the PFS by the 4th quarter of 2014. "
Norra Karr is located 15 km northeast of the city of Gränna and 300 km southwest of the capital Stockholm in the middle of forest and farm areas. The short time between discovery and submission of the application documents shows how efficient and beneficial it is to set up a business in a legal system with strong and transparent mining laws and good contacts with the extractive industry. The project site has road, rail and port connections, power supply facilities and a qualified workforce. The company therefore does not need to build its own infrastructure away from the project site.
The Company also announces that a land purchase agreement (the "Agreement") has been signed with an independent Swedish private property owner who is the foundation of the Norra Karr Project. In exchange for exclusive land access rights Under the terms of the agreement, Tasman will transfer 36.000 common shares to the property owner to carry out all exploration and development work that Tasman deems necessary on the property. The transfer of the shares must be approved by the Securities and Exchange Commissioners of the TSX Venture Exchange and the NYSE-MKT.
This press release does not constitute an offer to sell or an offer to buy 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 ("US Securities Act") or any other state securities laws and may not be sold in the United States or to any US person unless registration under the US Securities Act and applicable state securities laws or an appropriate exemption from this registration requirement exists.
Mark Saxon, President and Chief Executive Officer of Tasman and a Fellow of the Australasian Institute of Mining and Metallurgy and a member of the Australian Institute of Geoscientists, has reviewed and approved the contents of this news release as a qualified person.
About Tasman Metals Ltd.
Tasman is a Canadian mineral development company specializing in critical metals such as rare earth metals (REE) and tungsten (W) in Scandinavia. Tasman's stock trades on the TSX Venture Exchange under the symbol "TSM" and on the NYSE-MKT under the symbol "TAS". The need for REE and tungsten is steadily increasing because of the unique properties of these metals that make them indispensable to high technology and industry. Since over 95% of the supply of rare earth metals and 80% of the tungsten supply comes from China, the European Commission supports the promotion of domestic sources of critical metals in order to ensure the security of supply for the industry. Tasman receives research funding from the European Commission.
Tasman has uniquely positioned its exploration projects in politically stable, mining-friendly legal systems with a well-developed infrastructure and appropriate skilled workers and can thus ensure the supply of strategic metals. The company's Norra Karr and Olserum projects in Sweden are two of the world's most important known REE deposits, which also contain dysprosium, yttrium, terbium and neodymium. The company is committed to the safe, sustainable and responsible development of its mineral projects in Scandinavia.
Information for investors
www.tasmanmetals.com
1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7
Company contact address: Jim Powell, VP Corporate Development +1 (647) 478 8952 Email:[email protected]
or Mariana Bermudez + 1 (604) 685 9316
E-mail: [email protected]
The TSX Venture Exchange and its regulatory bodies (referred to as Regulation Services Provider in the Articles of Association of the TSX Venture Exchange), the NYSE - MKT or the Frankfurt Stock Exchange assume no responsibility for the adequacy or accuracy of this press release.
Cautionary Note to US Investors Regarding Mineral Resources and Reserves In this news release, the term “mineral resources” is defined by the Canadian securities authorities as given by CIM in the CIM Guidelines introduced on August 20, 2000 and updated December 11, 2005 for mineral resources and reserves ("CIM Standards on Mineral Resources and Reserves - Definitions and Guidelines").
The standards used to estimate mineral resources in this news release differ materially from the requirements of the United States Securities and Exchange Commission (“SEC”). As a result, resource claims may not necessarily be compared to similar information reported by US companies. The term "resources" is not synonymous with the term "reserves" and is typically not used in filings with the SEC. "Resources" are sometimes referred to as "mineralization" or "mineral deposits". The terms “Mineral Resources”, “Measured Mineral Resources”, “Indicated Mineral Resources” and “Inferred Mineral Resources” are recognized and required by Canadian regulations but are not considered defined terms under US regulations and may ordinarily appear in reports and registrations that filed with the SEC will not be used. The terms "Mineral Reserves", "Proven Mineral Reserves" and "Probable Mineral Reserves" are Canadian mining terms and are used in the relevant Canadian regulations (National Instrument 43-101 - Standards of Disclosure for Mineral Projects / "NI 43-101" and CIM - CIM Definition Standards on Mineral Resources and Mineral Reserves approved by the CIM Council and updated from time to time by the CIM). These definitions differ from the definitions in the United States Securities and Exchange Commission's Industry Guide 1933 under the Securities Act of 7 (“SEC Industry Guide 7”). Under Canadian regulations, estimates of inferred mineral resources may only be used as the basis for feasibility or pre-feasibility studies on very rare occasions. When the "contained ounces
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