Zimtu Capital reports Rare Earth Element Property Transaction

Zimtu Capital Corp. (TSXv: ZC) (FSE: ZCT1)reported that the company has acted as one of the property vendors in Fieldex Exploration Inc’s (TSXv: FLX) (FSE: F7E) acquisition of the Michikamats Rare Earth Project located in Labrador south of Quest Uranium Corp’s Misery Lake Project.

The press release is quoted as saying:

Fieldex is engaged in the exploration for rare metals and base metals. FNX Mining Company owns 6,500,000 shares of Fieldex. The company has 57,922,018 shares outstanding and a cash position of $3.4 Million. Fieldex intends to move the project forward rapidly, initially with prospecting and anticipated drilling in the third quarter of 2010.

Click here to access the entire press release

Click here to access Zimtu Capital Corporate Site