VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 29, 2016) - Leading Edge Materials Corp. ("Leading Edge Materials") or (the "Company") (TSX VENTURE:LEM) is pleased to provide a corporate update following the recently completed merger with Tasman Metals Ltd.
With this merger complete, Leading Edge Materials is now positioned with a unique portfolio of critical raw material assets in Europe. The European Union is a leader in the accelerating transition to a low-carbon economy, shifting demand to a range of critical raw materials essential in the generation, storage and conservation of energy.
The experience and networks of the newly expanded Leading Edge Materials team in the rare earth element (REE) and graphite sectors provides insight into where the Company can become a supplier of choice to these emerging high value markets. The strong market influence of Chinese suppliers, and the reliance on poor mining practice in third world countries is unsustainable, and is creating an opportunity for growth in the secure and sustainable supply of critical raw materials from within Europe.
The European Commission and Europe's major companies are investing strongly into renewable energy generation, efficient energy storage, and the light-weighting and electrification of transport. Leading Edge Materials, with deposits of graphite, REEs, zirconium, hafnium and nepheline in Sweden, is focused on the development of materials and products suitable for these markets. Furthermore, new investment opportunities that fit within the corporate strategy are currently being reviewed.
Blair Way, President and CEO, stated, "With a new name and an expanded view, Leading Edge Materials has the opportunity to play a strong role in the sustainable supply of critical raw materials. With core assets in Scandinavia, a region well recognized for its investment and success in innovation, we are excited about this next step in the Company's growth."
A new website has been launched to better showcase the Company www.leadingedgematerials.com. Both former websites will be redirected to the new site.
The Company's Woxna flake graphite deposit in central Sweden is a fully-permitted production-ready facility. The Company is now optimizing specialty graphite products for the energy storage and thermal lining fields. The Company's Norra Karr heavy REE deposit in Sweden has a preliminary feasibility study ("PFS") completed in 2015. This study confirmed that Norra Karr has the capacity to be a long term producer of the most critical heavy REEs, plus other critical metals including zirconium and hafnium. A nepheline/feldspar by-product from Norra Karr project also presents potential opportunities in Europe's large insulation, paint, building product, ceramic and glass markets.
The qualified person as defined in National Instrument 43-101 for Leading Edge Materials' project, Blair Way, President, Chief Executive Officer and a director of the Company, and a Fellow of the Australasian Institute of Mining and Metallurgy, has reviewed and verified the contents of this release.
On behalf of the Board,
Blair Way, President & CEO
Forward-Looking Information. Certain information in this news release may constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, "Forward-Looking Statements"). All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are Forward-Looking Statements. Forward-Looking Statements are often, but not always, identified by the use of words such as "seek," "anticipate," "believe," "plan," "estimate," "expect," and "intend" and statements that an event or result "may," "will," "can," "should," "could," or "might" occur or be achieved and other similar expressions. Forward-Looking Statements are based upon the opinions and expectations of the Company based on information currently available to the Company.
Forward-Looking Statements are subject to a number of factors, risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the Forward-Looking Statements including, among other things, the Company has yet to generate a profit from its activities; there can be no guarantee that the estimates of quantities or qualities of minerals disclosed in the Company's public record will be economically recoverable; uncertainties relating to the availability and costs of financing needed in the future; competition with other companies within the mining industry; the success of the Company is largely dependent upon the performance of its directors and officers and the Company's ability to attract and train key personnel; changes in world metal markets and equity markets beyond the Company's control; mineral resources are, in the large part, estimates and no assurance can be given that the anticipated tonnages and grades will be achieved or that the indicated level of recovery will be realized; production rates and capital and other costs may vary significantly from estimates; changes in corporate goals and strategies, the Company's preliminary economic assessment is no longer current or valid and the Company has no plans to complete a new preliminary economic assessment, a pre-feasibility or feasibility study on the project, as a result there is an increased risk of technical and economic failure for the Woxna graphite project; unexpected geological conditions; the successful implementation of the Norra Karr preliminary feasibility study, delays in obtaining or failure to obtain necessary permits and approvals from government authorities; all phases of a mining business present environmental and safety risks and hazards and are subject to environmental and safety regulation, and rehabilitation and restitution costs; the Company does not maintain insurance against environmental risks; and management of the Company have experience in mineral exploration but may lack all or some of the necessary technical training and experience to successfully develop and operate a mine.
Although the Company believes that the expectations reflected in the Forward-Looking Statements, and the assumptions on which such Forward-Looking Statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on Forward-Looking Statements, as there can be no assurance that the plans, intentions or expectations upon which the Forward-Looking Statements are based will occur. Forward-Looking Statements herein are made as at the date hereof, and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these Forward-Looking Statements.
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.