Macarthur Minerals expands MOU on Lithium Prospect

RNS Number : 6123D

Rare Earth Minerals PLC

08 July 2016

 

Rare Earth Minerals Plc

("Rare Earth Minerals", "REM" or "the Company")

Macarthur Minerals expands MOU on Lithium Prospect in Western Australia

Rare Earth Minerals Plc (AIM: REM; OTC: REMMY) is pleased to report that Macarthur Minerals Limited  ("Macarthur") has agreed to expand its Memorandum of Understanding  with Venturex Resources to include the lithium rights on the Whim Creek Project in Western Australia. The full Macarthur announcement can be found at:

http://web.tmxmoney.com/article.php?newsid=8486141396100236&qm_symbol=MMS

REM holds a 15.5% interest in Macarthur Minerals, which is an exploration and development company that is focused on identifying and developing high grade lithium deposits.

Whim Creek covers approximately 124 sq kilometres of mining and exploration licences and it is intended that the area will be fast-tracked for drilling and exploration once it has been confirmed as prospective for lithium

Commenting, Kiran Morzaria, Chief Executive Officer of REM, said:

"Macarthur continues to demonstrate its ability to identify highly prospective areas for lithium development and we welcome the expansion of the MOU with Venturex Resources."

Qualified Person:

Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance).

For further information, please contact:

Rare Earth Minerals plc                                                 [phone]

Kiran Morzaria

WH Ireland Limited (Nomad & Broker)                         [phone]

James Joyce

Mark Leonard

Square1 Consulting                                                        [phone]

David Bick

Brian Alexander

 

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