VANCOUVER, June 25,
2015 /CNW/ - Tasman Metals Ltd. ("Tasman" or the
"Company") (TSXV:TSM) (Frankfurt:T61) NYSE-MKT: TAS).
Mr Mark Saxon,
President & CEO, announces the release of the final report by
the European Commission (EC) into the risks and opportunities
within the European rare earth element (REE) supply chain.
The report, entitled "Strengthening The European Rare
Earths Supply-Chain" was completed by The European Rare Earths
Competency Network (ERECON) and can be found at
http://ec.europa.eu/growth/sectors/raw-materials/specific-interest/erecon/index_en.htm.
The ERECON group was commissioned by the European
Parliament in 2013. The price volatility and access
restrictions experienced by consumers of REE's from 2010 to 2102
was recognized as a significant threat to Europe's mega-industries and Europe's capacity to play a role in the
development and use of emerging low-carbon technologies.
ERECON brought together more than 80 experts from industry,
academia and policy-making to look at ways of improving the
security of Europe's REE
supply. Tasman's technical staff contributed at length to
relevant working groups and the steering committee.
"We congratulate the ERECON team on the
technical rigor and effort to understand the opaque supply chain of
REE's" said Mark Saxon, Tasman's
President and CEO. "The conclusions and policy
recommendations demonstrate an understanding of the growing
importance of resource security to Europe, and need for long term strategic
planning. Volatile pricing and insecure access to REE's and
other raw materials threaten to undermine European competitiveness
and may slow the uptake and development of priority low-carbon
technologies, such as electric vehicles and offshore wind
energy. ERECON has provided Tasman with a deep European
network across the entire REE sector".
The ERECON group identified significant threats
to Europe as a result of the
current Chinese heavy REE supply monopoly. It was concluded
that the Chinese government regards its REE resources as a national
endowment of strategic importance, and will continue to capitalize
on the opportunities this offers for developing high-tech
industries. Whether China will be
a reliable future supplier of heavy REE's was viewed as an open
question, with the high environmental impact of mining very low
grade clay deposits in Southern
China, the prevalence of illegal production, and the lack of
transparency cited as placing the REE industry outside normal
supply-demand considerations.
Opportunities for primary REE production in
Europe were extensively compiled
and reviewed by the ERECON team, which identified two advanced
stage projects. Tasman's Norra Karr heavy REE project in
Sweden is the only one on the
European mainland, with the capacity to be a major supplier of
the most critical REE's for decades.
A series of policy recommendations are provided
by ERECON, to increase the opportunity for REE production in
Europe. Of note, "Levelling the playing field for European
HREE exploration through co-funding for prefeasibility and bankable
feasibility studies" is proposed as a policy option, including that
"The EC and Member States should evaluate possibilities for
supporting the extensive R&D necessary for pre-feasibility and
bankable feasibility studies, to avoid high quality deposits in
Europe simply going
unexplored."
About Tasman Metals Ltd.
Tasman is a Canadian mineral exploration and
development company focused on critical metals including REE's and
tungsten in Scandinavia. Tasman is listed on the TSX Venture
Exchange under the symbol "TSM" and the NYSE-MKT under the
symbol "TAS". REE and tungsten demand is increasing,
due to the metals' unique properties that make them essential for
high technology and industry. Since over 80% of REE and
tungsten supply is sourced from China, the European Commission (EC) promotes
policy to develop domestic supply of critical metals to ensure the
security of industry. Tasman receives research funding from
the EC.
Tasman's exploration portfolio is uniquely
placed, with the capacity to deliver strategic metals from
politically stable, mining friendly jurisdictions with developed
infrastructure and skills. The Company's Norra Karr and
Olserum projects in Sweden are two
of the most significant known heavy REE resources in the world,
enriched in dysprosium, yttrium, terbium and neodymium. The
Company is now focused on the safe, sustainable and responsible
development of its Scandinavian mineral portfolio.
On behalf of the Board,
"Mark
Saxon"
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 NYSE - MKT nor 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, the implementation of the
Norra Karr preliminary feasibility study, changes in corporate
goals, unexpected expenditures, 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.
SOURCE Tasman Metals Ltd.