Quantum Rare Earth Developments Corp. is providing the following update to shareholders.

Although difficult financial market conditions persisted during the first eight months of 2012, the company was able to accomplish a number of goals set out at the onset of the year. On April 2, the company received an updated resource estimate for the Elk Creek niobium deposit including the following highlights:

  • Addition of higher-grade indicated-status tonnage of 19.3 million tonnes grading 0.67 percent niobium pentoxide;
  • An increase in inferred-status tonnage and grade from the previous resource estimate (see news release dated April 28, 2011) from 80.1 million tonnes grading 0.62 cent Nb2O5 to 83.3 million tonnes grading 0.63 percent Nb2O5.

On July 19, the company announced the finalization of a joint venture agreement concerning the company’s Australian properties which included the following highlights:

  • Quantum will retain a 20-percent carried-to-production interest in the project.
  • Quantum will be reimbursed for its previously incurred exploration funds (estimated at $100,000 (Australian)) and will receive 3.75 million common shares of Victory Mines upon successful completion of its initial public offering on the Australian Stock Exchange.

Victory has since informed the company that all necessary documentation for its IPO has been filed with the ASE, whereby Victory is planning to raise $4-million (Australian) at an initial-public-offering price of 20 cents per common share, with an anticipated closing date and a listing of its common shares in September 2012.In addition, the company has signed non-disclosure and confidentiality agreements with several parties concerning potential joint-venture and/or financing arrangements for the development of the Elk Creek niobium project.

While discussions continue to advance, readers are cautioned that there is no assurance that these discussions will result in any transaction.The company has also reached an agreement through its wholly owned subsidiary, Silver Mountain Mines Corp., Perry English for Rubicon Minerals Corp., concerning Silver Mountain’s interest in eight claim units located in the Kenora mining division, Ontario, Canada, whereby the company will issue 400,000 shares to Mr. English in lieu of a cash payment that was due pursuant to the underlying option agreement between Silver Mountain and Mr. English dated July 31, 2009, subject to TSX Venture Exchange approval.

The company entered into a subsequent option agreement dated Nov. 28, 2011, with Titan Goldwork Resources Inc. whereby Titan can earn up to a 70 percent interest in the Tait property (see news release dated Nov. 28, 2011, for complete details) which remains in effect.We seek Safe Harbor.…

Quantum announces Private Placement

Quantum Rare Earth Developments Corp. (TSX.V – QRE, FSE – BR3, OTCQX – QREDF) (“Quantum”, the “Company”) is pleased to announce that it has arranged, subject to regulatory approval, a non-brokered private placement consisting of up to 4,000,000 units (the “Units”) at a price of $0.125 per Unit for gross proceeds of up to $500,000.

Each Unit will consist of one common share and one common share purchase warrant (a “Warrant”).  Each Warrant shall be exercisable into one common share at a price of $0.25 per common share for a period of 24 months from the Closing Date.  All securities issued pursuant to the private placement will be subject to resale restrictions expiring 4 months and one day following the close of the placement.

Proceeds of the private placement will be used to advance the Elk Creek Carbonatite project and for general working capital.

Finders’ fees may be payable in cash, shares or warrants with respect to certain private placement subscribers and in accordance with the policies of the TSX Venture Exchange.

On Behalf of the Board,

“Peter Dickie”
Peter Dickie, President, CEO

“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.”

Cautionary note:  This news release contains forward-looking statements. These statements include, but are not limited to, statements with respect to the completion of an updated resource estimate, the commencement of a preliminary economic assessment study and management’s expectation that the results of these studies will confirm the potential of the Elk Creek Project.

Specifically, any statements regarding the potential increase of the Company’s inferred resource at the Elk Creek Project and the goals and objectives of the Company are by their nature forward-looking information.  Resource estimates, unless specifically noted, are considered speculative.  The Company has filed a National Instrument 43-101 report on the Elk Creek Project.  Any and all other resource or reserve estimates are historical in nature, and should not be relied upon.

By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events and depend on factors that will or may occur in the future.  Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Other factors may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements.

Specific risk factors include risks associated with the ability obtain any necessary approvals, waivers, consents and other requirements necessary or desirable to permit or facilitate the development of the Company’s properties, risks associated with project development; the need for additional financing; operational risks associated with exploration activities and results, mining and mineral processing; environmental liability claims and insurance; reliance on key personnel; tax consequences; and other risks and uncertainties.

The business of exploring for minerals involves a high degree of risk.

Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as “reserves” unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.…

Quantum Rare Earth Developments completes option out of Australian properties

July 19, 2012 – Vancouver, B.C.: Quantum Rare Earth Developments Corp. (TSX.V – QRE, FSE – BR3, OTCQX – QREDF) (“Quantum”, the “Company”) is pleased to announce that it has finalized the previously announced option of the Company’s Australian Jungle Well and Laverton properties (collectively the “Australian Properties”).

Under the terms of an option agreement dated September 19, 2011 (the “Florella Option Agreement”) (see NR dated November 2, 2011 for full details), the Company granted Florella Holdings Pty Limited (“Florella”) the right to earn an 80% interest in the Australian Properties, upon completion of payment of cash and issuance of shares to Quantum.  Florella has now assigned a portion of its interest to an unrelated third party Victory Mines Limited (“Victory”), an Australian company currently completing its Initial Public Offering (“IPO”) of shares on the Australian Stock Exchange (“ASE”).

Victory is headquartered in Perth, Australia. The Company and its Australian subsidiary Northeast Minerals Pty Ltd. (“Northeast”) have entered into a comprehensive Joint Venture Agreement (the “JV Agreement”) and a Tenement Sale Agreement (the “Transfer Agreement”) with Victory, its subsidiary Victory Exploration Pty. Ltd. (“Victory Exploration”) and Florella regarding the Joint Venture (“JV”) of the Australian Properties.

Under the terms of the Transfer Agreement, Quantum will retain a 20% interest in the Australian Properties, Florella will retain a 10% interest, and Victory will earn a 70% interest in the Australian Properties upon completion of certain events contained in the Transfer Agreement.  The interests of Quantum and Florella are carried until such time as commercial production is reached, (as defined in the JV Agreement).  To fulfill their obligations under the Transfer Agreement, Victory will be required to reimburse Quantum for costs incurred in exploration work carried out by Quantum on the Australian Properties during the summer of 2011, estimated at approximately $100,000 (Australian dollars), and shall issue to Quantum a total of 3,750,000 common shares of Victory.

Shares issued to Quantum will be subject to escrow provisions as determined by the ASX, which the Company anticipates will result in the release of the Victory shares to Quantum twelve (12) months following completion of the Victory IPO.

The Australian Properties are comprised of the Jungle Well project, located about 40 km west of the town of Leonora, Western Australia and approximately 150 km southwest of Lynas Corporation’s Mt. Weld Rare Earth Element Mine, and the Laverton property, located about 45 km north of Mount Weld.  The Company performed a surface exploration program in 2011 on the Jungle Well property, taking a total of ten grab samples along the length of the dyke, and all showed highly elevated Total Rare Earth Oxides* (“TREO”) values of 0.93% to 12.80% (see November 2, 2011, news release for full details).

*Total Rare Earth Oxides (TREO) include La2O3, Ce2O3, Pr2O3, Nd2O3, Sm2O3, Eu2O3, Gd2O3, Tb2O3, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3, and Y2O3.

About Victory:  Victory mines is a Western Australian based company that has entered into agreements to enable focused exploration for rare earth elements (REE), copper and base metals with potential for uranium, PGE and gold in Western Australia and is currently aiming to list on the Australian Securities Exchange (ASX). For further information visit www.victorymines.com

About Quantum:  Quantum is developing the Elk Creek Carbonatite, the only primary niobium deposit known to be under development in the U.S., and the highest grade undeveloped niobium deposit in North America.  Niobium is mainly used in the form of Ferro-Niobium to produce HSLA (High Strength, Low Alloy) steel, to produce lighter, stronger steel for use in automotive, structural and pipeline industries.  The U.S. imports 100% of its niobium needs.  Niobium is listed as a strategic metal and is being considered for national stockpiling in the U.S., China, and several European countries.

“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.”

Cautionary note:  This news release contains forward-looking statements.  These statements include, but are not limited to, statements with respect to the completion of an updated resource estimate, the commencement of a preliminary economic assessment study and management’s expectation that the results of these studies will confirm the potential of the Elk Creek Project.  Specifically, any statements regarding the potential increase of the Company’s inferred resource at the Elk Creek Project and the goals and objectives of the Company are by their nature forward-looking information.  Resource estimates, unless specifically noted, are considered speculative.

The Company has filed a National Instrument 43-101 report on the Elk Creek Project.  Any and all other resource or reserve estimates are historical in nature, and should not be relied upon.  By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events and depend on factors that will or may occur in the future.  Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Other factors may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements

Specific risk factors include risks associated with the ability obtain any necessary approvals, waivers, consents and other requirements necessary or desirable to permit or facilitate the development of the Company’s properties, risks associated with project development; the need for additional financing; operational risks associated with exploration activities and results, mining and mineral processing; environmental liability claims and insurance; reliance on key personnel; tax consequences; and other risks and uncertainties.

The business of exploring for minerals involves a high degree of risk.

Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as “reserves” unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.…

Quantum Rare Earth Developments CEO is Interviewed by GLX Capitol Hill Report – Resource Estimates and Niobium Demand are Discussed

Quantum Rare Earth Developments Corp. (TSX.V – QRE, FSE – BR3, OTCQX – QREDF) CEO Peter Dickie has provided an update on Quantum’s Elk Creek, Nebraska niobium project in an interview with GLX Capitol Hill Report. The interview is available at:

Quantum acquired the Elk Creek site, a former Molycorp project, in 2010. Quantum recently published a new resource estimate showing an Indicated Mineral Resource of over 19 million tonnes grading 0.67% niobium (Nb2O5), containing over 129,000 tonnes of niobium (Nb2O5), and an Inferred Mineral Resources of over 83 million tonnes grading 0.63% niobium (Nb2O5), containing over 523,000 tonnes of niobium (Nb2O5), (using a 0.40% Nb2O5 cut-off grade).

There are only three primary niobium mines operating in the world today, none of which are in the U.S., requiring the nation to import 100 percent of its needed supply. The U.S. Geological Survey has termed Elk Creek “potentially one of the largest sources of rare earth elements and niobium”, and it is the only known primary niobium deposit under development in the U.S.

The U.S. government has determined that rare earth elements and certain rare metals, such as niobium, are a strategic security requirement. A key committee of the U.S. House has recently passed legislation to accelerate the permitting process for these rare earth and critical metals deposits in the U.S.

Dickie pointed out that niobium is essential for high-strength, low-alloy steels in products which are expected to remain in high demand, including high-pressure oil and natural gas pipelines, jet engines, and in applications where lighter, stronger steel is needed. In addition to niobium needed for new pipeline infrastructure, concerns that have arisen over the health of older pipelines indicate that replacement may create further demand. In automotive use, niobium strengthened steel can produce weight reductions of up to 5% in the vehicle, yielding greater fuel savings.

Niobium is now used in approximately 10% of world steel and it is expected that niobium use will grow to roughly 20% of world steel in coming years, Dickie said. This includes increased intensity usage in countries such as China, who also import 100% of their niobium, where stricter building codes are now being implemented which will result in increased demand for high strength steel.

For further information, contact the Company at (604) 568-7365 or visit www.QuantumRareEarth.com

“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.”

Cautionary note: This news release contains forward-looking statements. These statements include, but are not limited to, statements with respect to the completion of an updated resource estimate, the commencement of a preliminary economic assessment study and management’s expectation that the results of these studies will confirm the potential of the Elk Creek Project.

Specifically, any statements regarding the potential increase of the Company’s inferred resource at the Elk Creek Project and the goals and objectives of the Company are by their nature forward-looking information. Resource estimates, unless specifically noted, are considered speculative. The Company has filed a National Instrument 43-101 report on the Elk Creek Project. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events and depend on factors that will or may occur in the future.

Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Other factors may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements

Specific risk factors include risks associated with the ability obtain any necessary approvals, waivers, consents and other requirements necessary or desirable to permit or facilitate the development of the Company’s properties, risks associated with project development; the need for additional financing; operational risks associated with exploration activities and results, mining and mineral processing; environmental liability claims and insurance; reliance on key personnel; tax consequences; and other risks and uncertainties.

The business of exploring for minerals involves a high degree of risk.

Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as “reserves” unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.…

Quantum CEO Highlights Significant Update to Niobium Site in Nebraska Deposit Could Cut U.S. Reliance on Imports

Quantum Rare Earth Developments Corp. (TSX.V – QRE, FSE – BR3, OTCQX – QREDF) (“Quantum”, the “Company”) CEO Peter Dickie noted in an interview with the CEONews.Tv financial news network that Quantum’s Elk Creek, Nebraska niobium project could cut U.S. dependence on imports of the vital strategic material, based on an updated resource estimate at the site.

Dickie noted Quantum’s Elk Creek niobium and rare earth elements project contains one of North Americas’ largest undeveloped niobium deposit in terms of grade and tonnage, and the only primary niobium deposit under development in the U.S.  The updated resource shows a resource containing over 129,000 tonnes of niobium (Nb2O5) in the Indicated category, and over 524,000 tonnes of niobium (Nb2O5) in the Inferred category, with the deposit open in three directions.

International demand for niobium is approximately 100,000 tonnes per year, produced exclusively from mines in Brazil and one in Canada.  The U.S. imports 100% of its’ annual consumption of approximately 10,000 tonnes, which has led the U.S. government to move toward establishing a strategic materials stockpile to protect against potential supply disruptions.

Dickie emphasized the green technology uses for niobium, including the production of high-strength, low-alloy steel, and a variety of other applications.  In addition, niobium alloys are required by the aerospace industry for high-performance jet engines.  He noted that the addition of small amounts of niobium produces harder, lighter steel, resulting in reduced shipping costs (through weight savings) for major infrastructure projects such as bridges and buildings. Niobium hardened steel also cuts the weight of steel used in automobiles, resulting in fuel economy savings.  Niobium is also vital for certain applications where it cannot be readily replaced, such as in high-pressure natural gas and oil pipelines.  In the medical field, niobium is required in the magnets used in MRI machines.

Quantum is continuing development of the niobium deposit in Nebraska through ongoing metallurgical testing.  The Company anticipates the possibility of a larger partner coming on board to help develop the project and perform the material studies necessary for a final production decision that could advance the project at a relatively rapid pace.

On April 2, 2012, Quantum announced an updated National Instrument 43-101 compliant resource estimate for the Elk Creek Niobium – REE Project, located in southeastern Nebraska.  The updated Mineral Resource Estimate, prepared by Tetra Tech Wardrop (Tetra Tech) of Toronto, Ontario will soon be available on SEDAR and the Company’s website.
“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.”

Cautionary note: This news release contains forward-looking statements. These statements include, but are not limited to, statements with respect to the completion of an updated resource estimate, the commencement of a preliminary economic assessment study and management’s expectation that the results of these studies will confirm the potential of the Elk Creek Project.  Specifically, any statements regarding the potential increase of the Company’s inferred resource at the Elk Creek Project and the goals and objectives of the Company are by their nature forward-looking information.  Resource estimates, unless specifically noted, are considered speculative.

The Company has filed a National Instrument 43-101 report on the Elk Creek Project.  Any and all other resource or reserve estimates are historical in nature, and should not be relied upon.  By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events and depend on factors that will or may occur in the future.  Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Other factors may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements

Specific risk factors include risks associated with the ability obtain any necessary approvals, waivers, consents and other requirements necessary or desirable to permit or facilitate the development of the Company’s properties, risks associated with project development; the need for additional financing; operational risks associated with exploration activities and results, mining and mineral processing; environmental liability claims and insurance; reliance on key personnel; tax consequences; and other risks and uncertainties.

The business of exploring for minerals involves a high degree of risk.

Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as “reserves” unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.…

Quantum Files updated NI 43-101 Report on Elk Creek Niobium Deposit

Quantum Rare Earth Developments Corp. (TSX.V – QRE, FSE – BR3, OTCQX – QREDF) (“Quantum”, the “Company”) is pleased to announce the filing of an updated NI 43-101 resource report on the Elk Creek Carbonatite project.  The report specifically deals with the core Niobium zone and does not reflect results of any of the Rare Earth Element zones also located on the property.  The report, prepared by Tetra Tech Wardrop (Tetra Tech) will be available on SEDAR and the Company’s website shortly.

The updated resource estimate for the Elk Creek Niobium Deposit has resulted in an overall increase in tonnage with an Indicated Mineral Resource of 19.3 million tonnes grading 0.67% Nb2O5 (using a 0.40% Nb2O5 cut-off grade), and an increase in Inferred Mineral Resources to 83.3 million tonnes grading 0.63% Nb2O5 (using a 0.40% Nb2O5cut-off grade).  The resource update is the result of an additional three holes completed by the Company at the Elk Creek Niobium Deposit in 2011.  A summary of the resources, with sensitivity to cut-off grade, is presented in Table 1.

Table 1. Mineral Resource Estimate, Elk Creek Niobium Deposit

Effective March 21, 2012

Classification Nb2O5 %

cutoff

Tonnage

(Mt)

Nb2O5 %

Grade

Contained Oxide

t Nb2O5

Indicated 0.70% 7.226 0.86 61,940
Indicated 0.60% 11.373 0.78 88,770
Indicated 0.50% 15.844 0.71 113,271
Indicated 0.40% 19.319 0.67 129,182
Indicated 0.35% 19.632 0.66 130,376
Inferred 0.70% 20.984 0.80 167,447
Inferred 0.60% 44.596 0.72 320,521
Inferred 0.50% 71.333 0.66 468,026
Inferred 0.40% 83.288 0.63 523,844
Inferred 0.35% 83.744 0.63 525,591

1. Effective date of the resource estimate is March 21, 2012

2. Resource estimate based on historic and recent Nb2O5% assay values.

3. Tetra Tech considers a base case cut-off grade of 0.40 Nb2O5% to be reasonable in the absence of metallurgical data and economic parameters (i.e. operating costs).

4. The average specific gravity of 2.96 g/cc.

5. The resource estimate has been classified as having both Indicated and Inferred Mineral Resources. The Indicated resources are based on an interpolation with a minimum of three drill holes within an average distance of less than 80 m. All other blocks within the IK wireframe are classified as Inferred resources.

6. Resource Estimate is based on:

– An Indicator Kriged (IK) wireframe, defining a 45% probability of achieving or exceeding a cut-off of 0.4 Nb2O5%, was generated on the block size of 20 m x 20 m x 10 m.

– Geological model bounded by the IK wireframe. The IK wireframe was generated based on the 27 drill holes totalling 16,595 m of diamond drilling.

– Block model estimated by OK interpolation method on block size 20m x 20m x 10m. The OK estimation was generated based on 17 drill holes that intersect the mineralized IK wireframe.

– Resource Estimate assumes 100% recovery as metallurgical results are not available.

The Elk Creek Niobium Deposit is an elongate, approximately east-west orientated mineral occurrence, in excess of 800 meters along strike.  The deposit remains open to the east, west and at depth.  It is hosted by the Elk Creek Carbonatite, which is an intrusive complex of carbonatite and related rocks. The property was held under an option agreement during the 1970s and 1980s by Molycorp Inc., at which time considerable exploration took place. At least 113 core holes were completed within the outline of the seven-kilometer-diameter geophysical anomaly, with 25 holes completed within a core zone, where high-grade niobium mineralization was identified.

Qualified Persons:

Paul Daigle, BSc, P.Geo., from Tetra Tech, is an independent qualified person as defined by NI 43-101, and is responsible for the mineral resource estimate for the Elk Creek Niobium Deposit and has verified the data disclosed in this release.

Mr. Neil McCallum, P.Geo., from Dahrouge Geological Consulting Ltd., is the qualified person as defined by NI 43-101, responsible for the Elk Creek Carbonatite Project and has read and approved the technical disclosure contained in this news release.

About Quantum:  Quantum is developing the Elk Creek Carbonatite, the only primary niobium deposit known to be under development in the U.S., and the highest grade undeveloped niobium deposit in North America.  Niobium is mainly used in the form of Ferro-Niobium to produce HSLA (High Strength, Low Alloy) steel, to produce lighter, stronger steel for use in automotive, structural and pipeline industries.  The U.S. imports 100% of its niobium needs.  Niobium is listed as a strategic metal, and is being considered for national stockpiling in the U.S., China, and several European countries.

About Tetra Tech:  Tetra Tech is a leading provider of consulting, engineering, program management, construction and technical services.  The company supports the government and commercial clients by providing innovative solutions to complex problems focused on water, environment, energy, infrastructure, and natural resources.  With more than 13,000 employees worldwide, Tetra Tech’s capabilities span the entire project lifecycle.

On Behalf of the Board,

“Peter Dickie”

Peter Dickie, President

For further information, contact the Company at (604) 568-7365 or visit www.QuantumRareEarth.com

“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.”

Cautionary note:  This news release contains forward-looking statements.  These statements include, but are not limited to, statements with respect to the completion of an updated resource estimate, the commencement of a preliminary economic assessment study and management’s expectation that the results of these studies will confirm the potential of the Elk Creek Project.  Specifically, any statements regarding the potential increase of the Company’s inferred resource at the Elk Creek Project and the goals and objectives of the Company are by their nature forward-looking information.  Resource estimates, unless specifically noted, are considered speculative.

The Company has filed a National Instrument 43-101 report on the Elk Creek Project.  Any and all other resource or reserve estimates are historical in nature, and should not be relied upon.  By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events and depend on factors that will or may occur in the future.  Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Other factors may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements

Specific risk factors include risks associated with the ability obtain any necessary approvals, waivers, consents and other requirements necessary or desirable to permit or facilitate the development of the Company’s properties, risks associated with project development; the need for additional financing; operational risks associated with exploration activities and results, mining and mineral processing; environmental liability claims and insurance; reliance on key personnel; tax consequences; and other risks and uncertainties.

The business of exploring for minerals involves a high degree of risk.

Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as “reserves” unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.…