Project updates re Macarthur Minerals and EMH

RNS Number : 6982F

Rare Earth Minerals PLC

29 July 2016

 

Rare Earth Minerals Plc

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

Project Updates regarding Macarthur Minerals and European Metals Holdings

Rare Earth Minerals Plc (AIM: REM; OTC: REMMY)) is pleased to report that Macarthur Minerals ("Macarthur") in which REM owns a 15.5% shareholding, has announced that a Canadian lithium Company has commenced due diligence for its farm-into Macarthur Minerals' lithium acreage at Ravensthorpe, Western Australia. Under the terms of the farm-in, the Canadian company is required to expend a minimum of A$2 million to earn a 51% interest in the lithium acreage at Ravensthorpe. The farm-in only relates to five percent (91 km2) of Macarthur Minerals' total Western Australia lithium acreage of 1,678 square kilometres. The full Macarthur announcement can be found at:http://macarthurminerals.com/wp-content/uploads/2016/07/20160728-Zadar-DD_FINAL.pdf .

The Company also notes that European Metals Holdings Limited ("EMH"), in which REM owns a 16.4% shareholding, has today released its quarterly activities report and quarterly cashflow report. Highlights from the quarterly activities report include:

·     Successful completion of drill programme at Cinovec Lithium / Tin Project

·     Commencement of second stage drill programme to target higher grade, shallower lithium zones

·     Signing of option to use L-Max® technology

·     Upgrade and increase in lithium and tin resources

·     Completion of listed options exercise

The full EMH quarterly activities report can be found at: http://europeanmet.com/assets/AIM_-_29_July_2016_-_EMH_Quarterly_Activities_Report.pdf ,and the quarterly cashflow report can be found at: http://europeanmet.com/assets/AIM_-_EMH_-_Quarterly_report_June_2016_Appendix_5B_Q4_2016_-_28.7.16.pdf .

The Company also notes, that since the start of 2016 that both Bacanora Minerals Limited and EMH, REM's most significant investments, have seen large increases in share price. In addition, the lithium price continues to increase, having made steady gains since the fourth quarter of 2015. It is in this context that the Company notes the significant price movements of its shares.

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

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).

 

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