Jul. 18, 2011 (Canada NewsWire Group) --
VANCOUVER, July 18, 2011 /CNW/ - Tasman Metals Ltd. ("Tasman" or the "Company") (TSXV - TSM) (Frankfurt - T61) (Pink Sheets - TASXF). Mr Mark Saxon, President & CEO, is pleased to announce the appointment of Mr. Jim Powell as Vice President, Corporate Development of the Company. In this capacity, Mr. Powell will be responsible for furthering and executing corporate strategy, coordinating investor relations, and advancing general corporate development opportunities.
Mr. Powell has been involved in equity research for the past seven years with his most recent position as a Research Analyst, covering the rare earth element (REE) and strategic metals space at Laurentian Bank Securities. Jim is a professional engineer registered in Ontario, Canada and a CFA charterholder.
"We warmly welcome Jim to the Corporate Development role in Tasman, and look forward to the opportunities that Jim's extensive REE sector experience will bring" said Mark Saxon, Tasman's President & CEO. "As an analyst with Laurentian Bank Securities, Jim was early into the REE industry, and has commented widely on the fundamentals and drivers that have created such a strong investment opportunity. Jim's experience provides him with a strong network across investors, potential producers and consumers throughout the REE space."
The Company has granted Mr. Powell 100,000 stock options, each stock option entitling the holder to purchase one common share of the Company at a price of $4.22.
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.
Tasman's cash position is approximately C$14.5 million.
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
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor 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.
Forward Looking Statements. This Company news release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. 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.
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