VANCOUVER, March 12 /CNW/ - Zimtu Capital Corp. (TSXv: ZC) (FSE: ZCT1) (the "Company" or "Zimtu") is pleased to announce that it is participating in Quantum Rare Earth Developments Corp. (TSXv: QRE) ("Quantum") and Silver Mountain Mines Corp. ("Silver Mountain") acquisition of North East Minerals Pty. Ltd. ("North East"), a private Australian company, that owns a 100% interest in the Jungle Well and Laverton Rare Earth Element Projects.
For its participation in the transaction, the Company will receive 500,000 common shares of Quantum and C$33,333 following completion of a merger between Quantum and Silver Mountain, and acceptance of the TSX Venture Exchange.
Jungle Well and Laverton Projects
The Jungle Well and Laverton projects are located in the same mineral field where Lynas Corporation Limited (ASX: LYC) is developing their Mt. Weld Rare Earth deposit. The Mt. Weld project is a significant deposit with a reported resource of 7.7Mt at 12% for 917,000t rare earth oxides. Lynas Corporation Limited is solely focused on the deposit and has a current market capitalization of approximately A$800 million.
The Jungle Well Project is hosted within granted exploration license EL 29/679 and is located 150km west of the Mt. Weld deposit. The Laverton Project is hosted within exploration license application EL 38/2374 and located 45km north of the Mt. Weld deposit.
Zimtu continues to evaluate and acquire prospective resource properties to make available for sale or joint venture. As part of the Company's business, Zimtu provides mineral property advisory services and helps to connect companies with mineral properties of interest.
For additional information on our mineral property advisory services, and opportunities available, contact Ryan Fletcher, Corporate Development at 604.681.1568 or via email at email@example.com.
Zimtu has also become active in social media channels in order to meet its shareholders and investors online to share information, thoughts and opinions. Become a fan of Zimtu Capital Corp. on Facebook or follow us at http://www.twitter.com/ZimtuCapital to receive live updates and feeds on the Company.
About Zimtu Capital Corp.
Zimtu Capital Corp. is a TSX Venture listed investment company that invests in, creates, and grows natural resource companies thereby providing a way for investors to participate and profit in the public company building process. The Company also provides mineral property advisory services helping to connect companies to properties of interest.
For more information, please visit our website at http://www.zimtu.com.
On Behalf of the Board of Directors
ZIMTU CAPITAL CORP.
President & Director
Phone: (604) 681 1568
Neither 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 release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include Zimtu's receiving of common shares of Quantum and cash for its participation in their acquisition, Zimtu's evaluation and acquiring of properties for partnership and Zimtu's providing mineral property advisory services and assisting to connect companies with mineral properties of interest.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
SOURCE Zimtu Capital Corp.
For further information: For further information: Kevin Bottomley, Shareholder Services, Phone: (604) 681-1568, Email: firstname.lastname@example.org, Website: http://www.zimtu.com