Also Provides Update on Xeno Property
Trading Symbol: RTX - (TSX.V)
VANCOUVER, Nov. 16, 2012 /CNW/ - Rara Terra Minerals Corp. ("Rara Terra"
or the "Company") today announces that it has acquired a 75% working
interest in certain oil and gas leases in Trego County, Kansas for
payment of $393,750. The Company has acquired the interest in an effort
to enhance shareholder value over the winter while seasonal factors
prevent the Company from pursuing exploration activities at its mineral
projects in British Columbia.
To that end, the Company is waiting for independent evaluation of its
recently completed geophysical surveys at its Xeno Rare Earth project
in the Kechika River region of Northern British Columbia. Preliminary
assessment of the surveys leads management to believe that there are
numerous geophysical anomalies on the Xeno property meritorious of
geochemical followup next summer. Primary drill targets on the Xeno
property will be determined after combining all geophysical and
In conjunction with the Trego County project, a finder's fee equal to
370,313 shares, at a deemed issue price of $0.10 per share, was paid in
connection with the acquisition.
Rara Terra's qualified person, Robert Friesen, PGeo, has read and
approved the technical disclosure contained in this news release.
About The Trego County Oil and Gas Project
The Trego County Oil and Gas Project is an offset drilling opportunity.
The prospect acreage is located in NW/4 of Section 26 11S 22W within
Trego County, Kansas and is situated on a structural feature that is
high to offset acreage 0.5 miles to the west (5 producing wells) and on
strike with a new productive well drilled 0.5 miles to the east. Rara
Terra has a 75% percent working interest before payout (60% net revenue
interest) and a 56.25% working interest (45% net revenue interest)
About Rara Terra Minerals Corp.
Rara Terra is a Canadian mineral exploration and development company
focussed on Rare Earth Elements (REEs). Rara Terra is seeking to
identify and develop REE deposits characterized by less common
mineralization. These unique deposits will bear those specific REEs
that are widely agreed to have the strongest mid to long term
technological relevance and sustainable economic value.
Due to significant challenges in the REE arena, Rara Terra has been
assessing other opportunities to create shareholder value. With that
said, Rara Terra remains optimistic that REE deposits with high grades
of heavy rare earths or unusual distributions of rare earth will have
continued value for the foreseeable future.
ON BEHALF OF THE BOARD
RARA TERRA MINERALS CORP.
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 news
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which
reflect the expectations of management regarding Rara Terra Minerals
Corp. Forward-looking statements consist of statements that are not
purely historical, including but not limited to, any statements
regarding beliefs, plans, expectations concerning timing and success of
exploration activities generally, government regulation of exploration
and mining operations, indications and benefits of exploration,
drilling test work and engineering assessments, environmental risks,
title disputes or claims, the Company's intention to raise additional
capital and financing, and expectations or intentions regarding the
future. Such statements are subject to risks and uncertainties that
may cause actual results, performance or developments to differ
materially from those contained in the statements. No assurance can be
given that any of the events anticipated by the forward-looking
statements will occur or, if they do occur, what benefits the Company
will obtain from them.
SOURCE: Rara Terra Minerals Corp.
For further information:
Rara Terra Minerals Corp.
Phone: (604) 562-6915