Pele Mountain Enters Into Access Agreement to Sample Elliot Lake Mine Tailings for Rare Earths
10 Aprile 2014 - 3:00PM
Marketwired
Pele Mountain Enters Into Access Agreement to Sample Elliot Lake
Mine Tailings for Rare Earths
TORONTO, ONTARIO--(Marketwired - Apr 10, 2014) - Pele Mountain
Resources Inc. (TSX-VENTURE:GEM)(OTCQX:GOLDF) ("Pele" or the
"Company") announced today that Pele has entered into an Access
Agreement with Rio Algom Limited ("RAL"), granting Pele the right,
at its cost, to access and take samples from one or more of RAL's
Elliot Lake, Ontario tailings management areas, to test primarily
for rare earths. Both federal and provincial regulators are aware
that the sampling of the tailings is being undertaken by Pele,
which is bound by a Confidentiality Agreement, and all next steps,
if any, will follow all required public consultation and regulatory
requirements.
About Pele
Pele is focused on the sustainable development of its
100-percent owned Eco Ridge Mine Rare Earth and Uranium Project, in
Elliot Lake, Ontario, the only Canadian mining camp to ever achieve
commercial rare earth production. With well-understood geology and
mineralogy, excellent regional infrastructure, and strong local
support, Eco Ridge is an ideal location for the development of a
safe, secure, and reliable supply of critical rare earths and
uranium. Pele also owns strategic mining claims containing high
grade rare earth mineralization at Mountain Pass, California, just
1800 metres from Molycorp's open pit mine. Pele's shares are listed
on the TSX Venture Exchange under the symbol "GEM" and on the OTCQX
under the symbol "GOLDF".
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. Some of the statements contained in this
release are forward-looking statements, such as estimates and
statements that describe Pele's future plans, objectives or goals,
including words to the effect that Pele or management expects a
stated condition or result to occur. Since forward-looking
statements address future events and conditions, by their very
nature, they involve inherent risks and uncertainties. Actual
results in each case could differ materially from those currently
anticipated in such statements. The economic viability of the
43-101 mineral resource at Pele's Elliot Lake Project has not yet
been demonstrated by a preliminary feasibility study.
Shares Outstanding: 165,529,198
Pele Mountain Resources Inc.Al ShefskyPresident(800)
315-7353www.pelemountain.com
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