Tasman Provides Update on Mining Lease for Norra Karr Heavy Rare
Earth Element Project, Sweden
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 20, 2014) -
Tasman Metals Ltd. ("Tasman" or the "Company")
(TSX-VENTURE:TSM)(FRANKFURT:T61)(NYSEMKT:TAS). Mr Mark Saxon,
President & CEO, provides an update on the Mining Lease for the
Norra Karr heavy rare earth element (REE) project in Sweden.
On May 21st 2013, Tasman announced that a 25 year Mining Lease
for Norra Karr had been granted to the Company, and that
stakeholders had the right to file an appeal. On July 25th 2013,
the Company provided an update that an appeal had been lodged by
certain stakeholders. The filing of this appeal had no impact on
the legal status of the Mining Lease, and the Company was confident
that the appeal would not be successful.
Tasman has now been notified by the Swedish Ministry of Industry
(Näringsdepartementet) that the Mining Lease for Norra Karr has
been confirmed and the appeal was unsuccessful. Following this
decision, no further right of appeal exists against the validity of
the Mining Lease.
As announced May 21st 2013, the Mining Lease gives Tasman the
full mineral rights for the Norra Karr project for an initial
period of 25 years, which is then automatically renewed in 10 year
increments if the mine is in operation. The lease was granted by
the Swedish Mining Inspectorate (Bergsstaten) after the assessment
of extensive environmental and social impact data that was
collected by independent consultants and submitted by Tasman.
"The appeals process is an important part of the Swedish
Mining Act and we are glad to have had Norra Karr dealt with in a
fast and efficient manner" said Mark Saxon, Tasman's President and
CEO. "We believe Norra Karr can provide a great opportunity for the
region and for Sweden without a significant impact on the
environment, and we will continue to work closely with all
stakeholders as we advance the project."
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 mining lease 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.
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 (REE's) 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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