Location

Rare Earth Minerals has been informed by its joint venture partner Bacanora Mineral Ltd that additional concessions, contiguous with the existing Fleur and El-Sauz concessions the that contain the Fleur-El Sauz Lithium deposit in northern Mexico, have been staked and mineral rights secured.

The acreage under the Joint Venture has as a result been increased by approximately 60% from 3,305 hectares to 5,325 hectares.

The new total of 5,325 hectares of concessions, are the subject of a joint venture between Bacanora and REM, pursuant to which REM has given notice to increase its interest in the joint venture from 10% to 30% and has a first right of refusal to negotiate a deal to further increase its interest in the joint venture to 49.9%.

These new concessions cover strategic ground to the east and north of the Existing Concessions where it is believed that the Lithium-bearing clay units within the Existing Concessions identified by the stage 1 drilling programme may extend down-dip and eastward.

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Major Drilling Group International Inc. is one of the world’s largest drilling services companies primarily serving the mining industry. Established in 1980, Major Drilling has over 1,000 years of combined experience and expertise within its management team alone.