Business & Finance
Business and Finance
Business and Finance
Tue, July 12, 2011 Rara Terra Minerals finalizes acquisition of rare earth properties in northern British Columbia
Trading Symbol: TSX-V: RTX
VANCOUVER, July 12, 2011 /CNW/ - Rara Terra Minerals Corp. ("Rara Terra" or "the Company") is pleased to announce that it has received TSX Venture Exchange approval for the two contiguous property acquisitions announced on June 16, 2011 - namely the 100% acquisition of 7,124.6 hectares situated in the Kechika River-Terminus Mountain area, Liard Mining Division, Northern British Columbia on N.T.S. map areas 94L-11W1/2 and 94L-12E1/2 (approximately 58° 43' N. Lat. and 127° 32' W. Long) (the "Acquisition" or "Xeno Property").
Since completion of the Acquisition, Rara Terra has claimed an additional 841.3 hectares in the southeastern portion of the Xeno Property bringing its total land package to 7,966 hectares.
It is Rara Terra's intention to aggressively explore the Xeno Property for Rare Earth Elements ("REEs") as the regional geology hosts a suite of alkaline igneous rocks consisting of syenites, carbonatites and various other alkaline diatremes that have historical surface assays indicating the potential for the discovery of substantial REE mineralization.
Rara Terra's CEO, Alexander Helmel, stated: "Now that we have completed this acquisition we can formalize its first phase of exploration; accordingly, we have a number of vendors bidding on airborne geophysical/radiometric surveys in addition to comprehensive geochemical ground programs."
Terms of the Acquisition
The total price of the Acquisition is $153,000 and 365,000 common shares of the Company to be paid over a two year period. There were no finder's fees associated with the Acquisition.
One of the sellers, David A. Heyman, was granted a 0.5% net smelter return royalty (the "NSR Royalty") with respect to production from his former claims to be payable following commencement of commercial production. The NSR Royalty may be repurchased by Rara Terra, or its permitted assign, by paying $250,000 to Mr. Heyman.
See map on Rara Terra's website: [ http://www.raraterra.com/news/supportdocs/xenoclaimmap.pdf ]
Qualified Person
Rara Terra's qualified person, Robert Friesen, PGeo, has read and approved the technical disclosure contained in this news release.
About Rara Terra Minerals Corp.
Rara Terra is a Canadian mineral exploration and development company focussed on Rare Earth Elements (REEs). Rara Terra is seeking to identify and develop REE deposits characterized by less common mineralization. These unique deposits will bear those specific REEs that are widely agreed to have the strongest mid to long term technological relevance and sustainable economic value.
ON BEHALF OF THE BOARD
RARA TERRA MINERALS CORP.
Per: "Fraser Atkinson"
Fraser Atkinson
Chairman and Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding Rara Terra Minerals Corp. Forward-looking statements consist of statements that are not purely historical, including but not limited to, any statements regarding beliefs, plans, expectations concerning timing and success of exploration activities generally, government regulation of exploration and mining operations, indications and benefits of exploration, drilling test work and engineering assessments, environmental risks, title disputes or claims, the Company's intention to raise additional capital and financing, and expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.
