Investments

RNS Number : 0435O

Rare Earth Minerals PLC

16 September 2013

 



16 September 2013

Rare Earth Minerals plc

(the "Company" or "REM")

Investments

Rare Earth Minerals plc (AIM: REM) the rare earth minerals and metals projects investment company is pleased to announce that it has made market investments totalling $0.52 million in Western Lithium USA Corporation ("Western Lithium") and Bacanora Minerals Limited ("Bacanora").

Investments

Bacanora is a TSX-V listed company exploring for and developing industrial mineral resources in Mexico with a primary focus on Borates and Lithium.  It is the joint venture partner of REM in the Fleur-El Sauz Lithium project (the "Joint Venture").  REM has an interest of approximately 0.2% in the issued share capital of Bacanora, acquired at a cost of $0.04 million.  This interest, when aggregated with REM's 30% direct interest in the Joint Venture, results in a total economic interest in the Joint Venture of 30.14%

Western Lithium is a TSX-V listed company whose principal project is the Kings Valley, Nevada lithium carbonate deposit.  REM has an interest of approximately 1.7% in the issued share capital of Western Lithium, acquired at a cost of $0.48 million.

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For further information please contact:

Rare Earth Minerals plc
David Lenigas	[phone]
WH Ireland Limited
James Joyce	[phone]
Nick Field
Pelham Bell Pottinger
James MacFarlane	[phone]
Marcin Zydowicz

 

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