VANCOUVER, July 18, 2012 /CNW/ - Tasman Metals Ltd. ("Tasman" or the "Company") (TSXV:TSM; Frankfurt:T61; NYSE-MKT:TAS). Mark Saxon, President & CEO, is pleased to announce that Dr. Henning Holmström has accepted the position of Managing Director of Tasman's Swedish operating company "Tasmet AB" to represent the Company locally as well as to implement Management's vision for the development of Norra Karr. Dr. Holmström previously held the position of Project Development Manager for the Company's flagship Norra Karr heavy rare earth element (REE) project and was instrumental in the submission of the Mining Lease application for Norra Karr as announced July 11, 21012.
Dr. Holmström has over 17 years of experience, and is a well known and respected member of the Swedish mining community having filled consulting, corporate and government roles prior to joining Tasman in September 2011. He previously held a senior management position with the international consulting group Golder Associates AB as the Client Sector Leader of Mining in Scandinavia.
"Henning has provided great leadership for the Swedish team as we collected the environmental data, undertook community meetings and prepared the necessary documentation for the Mining Lease application" said Mark Saxon, Tasman's President and CEO. "As Managing Director of Tasmet AB, Henning will have a strong voice to with which to represent Tasman Metals in Swedish and European forums, as Norra Karr progresses towards development."
In addition, and in response to the rapid development of the Norra Karr project, Tasman has recently expanded its Advisory Board with the appointment of Ms. Heather White and Dr. Dag Øistein Eriksen who bring exceptional skills and experience to the Company.
Ms. White is a highly experienced consulting Mining Engineer, with 16 years in Canadian and international roles. Ms. White was recently recognized for her leadership achievements as the 2012 Recipient of the "Canadian Institute of Mining - Young Mining Leaders" Award. She has held senior positions to Vice President level in major TSX listed companies, and for two years was Mine Manager for the Voisey's Bay mine in Labrador. Ms. White's major project development and management experience provides Tasman's Swedish operating team with access to a set of skills that are difficult to acquire.
Dr. Eriksen is based in Oslo, Norway, where he has had a long and accomplished career in REE extraction and separation chemistry. During the 1980's and early 1990's, Dr Eriksen was a senior scientist at Megon AS (renamed as Extratec AS in 1991) that researched leaching of various REE ores and developed the well known "Megon process" for the extraction and purification of yttrium by solvent extraction. Through his consulting roles, Dr. Eriksen is very well connected within Europe, and ideally suited to advise Tasman as it assesses the various processing and separation opportunities with which it has been presented.
Tasman's 100% owned Norra Karr project is the only NI 43-101 compliant REE resource in mainland Europe. Norra Karr lies 15km NNE of the township of Gränna and 300km SW of the capital Stockholm in mixed forestry and farming land. The short time taken from discovery to ML application demonstrates the efficiency and advantage of operating in a jurisdiction with a strong and transparent Mining Act and a long term association with resource industries. The project is proximal to road, rail, power and operating ports, plus skilled personnel, minimizing the need for offsite infrastructure to be built by the Company.
Norra Karr is one of the largest and most economically robust projects amongst its peers, due to the high contribution of the high value critical REE's (dysprosium (Dy), yttrium (Y), neodymium (Nd), terbium (Tb)). Substantial capital and operating cost benefits are provided by the existing infrastructure and the simple mineralogy that allows ambient temperature and pressure processing. Norra Karr's proximity and easy road access to European markets stands as a unique operating advantage for the project.
About Tasman Metals Ltd.
Tasman Metals Ltd is a Canadian mineral exploration and development company focused on Rare Earth Elements (REE's) in the European region and is listed on the TSX Venture Exchange under the symbol "TSM" and the NYSE-MKT under the symbol "TAS". REE demand is increasing, due to the metals' unique properties that make them essential for high technology and environmentally-beneficial applications. Since over 95% of REE supply is sourced from China, the European Union is actively supporting policy to promote domestic supply of REE's, to ensure the security of high-tech industry. Tasman's exploration portfolio is uniquely placed, with the capacity to deliver "high-tech" metals from politically stable, mining friendly jurisdictions with developed infrastructure.
The Company's Norra Karr project in Sweden is one of the most significant heavy REE resources in the world, and the only NI43-101 compliant REE resource in mainland Europe. The resource is unusually low in radioactive metals relative to peer projects, with less than 15 ppm each of uranium and thorium.
For more information regarding rare earth elements, see the Rare Metal Blog at www.raremetalblog.com or Resource Stock Digest at http://strategicmetalstocks.resourcestockdigest.com
On behalf of the Board,
Mark Saxon, President & CEO
The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), the American Stock Exchange or the Frankfurt Stock Exchange accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note to U.S. Investors Concerning Mineral Resources and Reserves. In this news release, the definition of "mineral resources" is that used by the Canadian securities administrators and conforms to the definition utilized by CIM in the
"CIM Standards on Mineral Resources and Reserves - Definitions and Guidelines" adopted on August 20, 2000 and amended December 11, 2005.
The standards employed in estimating the mineral resources referenced in this news release differ significantly from the requirements of the United States Securities and Exchange Commission (the "SEC") and the resource information reported may not be comparable to similar information reported by United States companies. The term "resources" does not equate to "reserves" and normally may not be included in documents filed with the SEC. "Resources" are sometimes referred to as "mineralization" or "mineral deposits." While the terms "mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" are recognized and required by Canadian regulations, they are not defined terms under standards in the United States and normally are not permitted to be used in reports and registration statements filed with the SEC. The terms "mineral reserve," "proven mineral reserve" and "probable mineral reserve" are Canadian mining terms as defined in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and the CIM - CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as may be amended from time to time by the CIM. These definitions differ from the definitions in the United States Securities and Exchange Commission Industry Guide 7 ("SEC Industry Guide 7") under the Securities Act of 1933. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or prefeasibility studies, except in rare cases. Disclosure of "contained ounces" in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in place tonnage and grade without reference to unit measures.
The estimation of measured, indicated and inferred mineral resources involves greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. U.S. investors are cautioned (i) not to assume that measured or indicated resources will be converted into reserves and (ii) not to assume that estimates of inferred mineral resources exist, are economically or legally minable, or will be upgraded into measured or indicated mineral resources. It cannot be assumed that the Company will identify any viable mineral resources on its properties or that any mineral reserves, if any, can be recovered profitably, if at all. As such, information contained in this news release and the documents incorporated by reference herein concerning descriptions of mineralization and resources under Canadian standards may not be comparable to similar information made public by United States companies in SEC filings.
Cautionary Statements. Certain statements found in this release may constitute forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect the speaker's current views with respect to future events and financial performance and include any statement that does not directly relate to a current or historical fact. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, uncertainties related to the availability and costs of financing, unexpected geological conditions, success of future development initiatives, imprecision in resource estimates, ability to obtain necessary permits and approvals, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, changes in world metal markets, changes in equity markets, environmental and safety risks, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein. Forward-looking statements cannot be guaranteed and actual results may vary materially due to the uncertainties and risks, known and unknown, associated with such statements. Shareholders and other readers should not place undue reliance on "forward-looking statements," as such statements speak only as of the date of this release.
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