VANCOUVER, March 8, 2012 /CNW/ - Tasman Metals Ltd. ("Tasman" or the "Company") (TSXV: TSM) (Frankfurt: T61) (NYSE AMEX: TAS) is pleased to announce that at the Company's Annual General Meeting of Shareholders held on Wednesday, March 7, 2012 (the "AGM"), Messrs. Mark Saxon, Michael Hudson, Nick DeMare, David Henstridge, Robert Atkinson, Gillyeard Leathley and James Hutton were elected to serve as directors of the Company. In addition, all other items put forth at the AGM were approved, including the re-appointment of D&H Group LLP as the Company's auditors and the ratification and re-approval of the Company's 10% rolling stock option plan.
Mr. Saxon stated "We wish to welcome Mr. Hutton to the board at this exciting time in the development of the Company. Mr. Hutton brings extensive Canadian and international resource industry experience, and his recent leadership role in substantial merger/acquisition transactions expands an important set of skills within the Tasman board. We thank shareholders for their continued support as we progress the Norra Karr heavy rare earth element project in Sweden."
At a directors' meeting subsequent to the AGM, the directors appointed Mr. Saxon as President and Chief Executive Officer, Mr. DeMare as Chief Financial Officer and Ms. Mariana Bermudez as Corporate Secretary and Messrs. Atkinson, Leathley and Hutton were appointed as members of the Audit Committee.
On behalf of the Board,
Mark Saxon, President & CEO
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". 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. With a TREO (total rare earth oxide) cut off of 0.4%, the Inferred Mineral Resource comprises 60.5 million tonnes grading 0.54% TREO and 1.72% ZrO2 (zirconium oxide), with 53.7% of the TREO being the higher value HREO (heavy rare earth oxide). 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
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 Estimates of Inferred Resources. This news release uses the term "inferred mineral resource." We advise U.S. investors that this term is not recognized by the U.S. Securities and Exchange Commission. The estimation of inferrred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources. U.S. investors are cautioned not to assume that estimates of inferred mineral resources exist, are economically minable, or will be upgraded into measured or indicated mineral resources.
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, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, 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.
For further information:
1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7
Company Contact: Mariana Bermudez +1 (604) 685 9316
Investor Relation Consultants - Mining Interactive
Nick Nicolaas +1 (604) 657 4058
Email: [email protected]