Leading Edge Materials Corp. (TSXV:LEM) (OTCQB:LEMIF) provides an update on the Company’s Norra Kärr heavy rare earth element (REE) project in Sweden.
In 2016, a Swedish governmental review of the Supreme Administrative Court (“SAC”) interpretation of the Swedish Mining Act lead the Swedish Mining Inspectorate (“Bergsstaten”) to reassess four granted Mining Leases throughout Sweden. This review included the Company’s Norra Kärr Mining Lease. Bergsstaten subsequently requested supplementary information from Mining Lease applicants to proceed with the reassessment process. The Company has recently submitted all required information to Bergsstaten, to complement the original Norra Kärr Mining Lease application documentation submitted in 2013.
Subsequent to the submission of the supplementary information, the Company was made aware that the status of the Norra Kärr Mining Lease has reverted from “granted” to “application”. The Company continues to hold exclusive rights to the Norra Kärr project throughout the Mining Lease application process. Bergsstaten is now re-assessing the supplemented application documentation.
The Company continues to actively work on optimization of the Norra Kärr project, focusing on value-add opportunities for both REE and various by-product materials.
Blair Way, President and CEO, stated “We continue to work through this Mining Lease application process with the Swedish authorities and look forward to finalizing it. Norra Kärr can potentially supply numerous innovation-critical metals and minerals, for which the European Union is currently import dependent. We look forward to continuing our research to add value to this large and strategic project.”
The qualified person for the Company’s project, Mr. Blair Way B.S. (Geology) M.B.A., a Fellow of the Australasian Institute of Mining and Metallurgy, the Company’s President and CEO, has reviewed and verified the contents of this document.
This is information that Leading Edge Materials Corp. is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 21st day of February, 2018 at 5:15 AM Vancouver time.
On behalf of the Board,
Blair Way, President & CEO
About Leading Edge Materials
Leading Edge Materials was formed with our sights firmly focused on the material demands of a once-in-a-generation revolution, as the world shifts to the efficient production, storage and preservation of low carbon energy. From the lithium batteries in our electric vehicles to our ability to generate energy from the sun, wind and waves LEM is focused on the green energy markets. With a focus on Europe and assets in innovation-rich Scandinavia, Leading Edge Materials is ideally placed to play a pivotal role in the sustainable supply of critical technology materials. Remium Nordic AB is the Company’s Certified Adviser (“CA”) as part of the listing requirements for Nasdaq First North.
Neither the 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 news release.
Forward-Looking Information. This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include but are not limited to, the Company’s expectations regarding the outcome of the Mining Lease application process; unexpected geological conditions; the Company’s expectations regarding exploration activities to advance critical material projects for energy storage markets, delays in obtaining or failure to obtain necessary permits and approvals from government authorities. Although such statements are based on management’s reasonable assumptions, there are risk factors which could 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 forward-looking information contained herein. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
SOURCE Leading Edge Materials