VANCOUVER, Nov. 21, 2011 /CNW/ - Solid Resources Ltd. ("SOLID" or the
"Company") (TSX-V: SRW) (OTCQX: SLDRF) (Frankfurt: YRS) is pleased to
announce that for the second year in a row, it has received official
notification from the Spanish Ministry of Industry, Tourism and Trade
that the Company has been granted the maximum subsidy for work
committed for 2012 to be carried out on the Alberta-1
(Doade-Presqueiras) rare metals concession in northwestern Spain. The
Company was initially granted the maximum subsidy of 20% for work
completed on the concession during 2011.
These subsidies are awarded by public tender in competition with other
exploration projects in Spain. One of the essential conditions in
receiving the grant was that two of the three target metals in the
Alberta-1 project - tantalum and lithium, are considered strategic
industrial commodities in the European Union. Solid Resources further
met all of the requirements of technical and financial solvency to
carry out the work of the exploration program presented and approved
over one year ago by the mining authorities.
For 2012, the Company intends to substantially increase the resource
estimates on the concession with an extensive 6,000 m drill program.
The current information available has given the Company an exploration
target of over 50 million tonnes, not including the northern zone
"There is a significant benefit in undertaking a mineral exploration
project in a politically stable and motivated country such as Spain."
commented Greg Pendura, President and CEO. "This is a country that
understands the impact to their economy and job creation by expediting
a world class property such as Alberta-1 into a producing mine to
supply the EU with strategic metals".
To view the Company's recently completed animated 3D Drill Tour, please
visit our website at www.solidresources.com
Dr. Alfonso S. Gracia Plaza, Doctor of Science in Economic Geology, is
the Director of the ALBERTA-1 Project and supervises the Company's
exploration programme on the project. He is responsible for the
technical reporting in this news release and is the Company's
"Qualified Person" for the purpose of NI 43-101.
About Solid Resources:
Solid Resources is a Canadian junior mining company focusing on the
exploration and development of rare and precious metals and industrial
commodities worldwide. The Company is currently quantifying the
presence of tantalum, tin, lithium and other rare minerals on its
property in north-western Spain. In addition, further exploratory work
is being conducted on its gold, copper concession in the Province of
Ayabaca in northwest Perú.
Certain statements contained in this press release, including statements
which are related to exploration activity and future prospects and
profitability and which may contain words such as "could", "should",
"expect", "believe", "will" and similar expressions and statements
relating to matters that are not historical facts are forward-looking
statements. Such forward-looking statements involve known and unknown
risks and uncertainties which may cause the actual results,
performances and/or achievements of Solid to be materially different
from any future results, performances or achievements expressed or
implied by such forward-looking statements. Such factors include
fluctuations in the market conditions and prices of tantalum, lithium,
tin, and other metals and related products and services; competition;
political and economic conditions in countries in which Solid does
business; changes in laws and regulations, including environmental
regulations, to which Solid is subject, and other factors which are
described in further detail in Solid's filings with the Canadian
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 release.
SOURCE Solid Resources Ltd.
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