SourcingLink.net Provides Market Update and Information on Advantages to Mining Exploration and Development in the Province of Quebec
SourcingLink.net Inc. (SNET.PK) Pursuant to yesterdays press release SourcingLink.net has signed an agreement to acquire 100% interest in the Eldor Rare Earth Property Claims (Eldor Project) located in Northern Quebec, Canada. The Company expects to execute on this agreement with an initial payment prior to August 20th, 2013.The Eldor Project which adjoins the west boundary of Commerce Resources’ Ashram Project which currently has a Preliminary Economic Assessment (PEA) with a Net Present Value (NPV) at a 10% discount rate of $2.32 billion, a pre-tax/pre-finance Internal Rate of Return (IRR) of 44%.
The Eldor Project consists of approximately 2438 acres including 21 claims and is located in Northern Quebec which is considered one of the most favorable mining jurisdictions in the world. SourcingLink.net may benefit as the property a designated as part of the “Plan Nord” for major economic, social and environmental development as announced by the Quebec Government.
Sourcinglink.net may also be eligible for a tax credit for exploration expenses incurred in the province of Québec including 35% of eligible exploration expenses incurred by non-operating corporations (38,75% when expenses which are incurred in Québec Near-North and Far-North). The Company intends to take advantages of these benefits in the future as moves forward on its plans for exploration on the Eldor Project.
About SourcingLink.net Inc. :
SourcingLink.net is a U.S. based publicly traded exploration and development company with a focus on rare metals and rare earth elements which are among the primary input materials of technology in the 21st Century.
This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, which contain words such as “expect,” “believe” or “plan,” by their nature address matters that are, to different degrees, uncertain. These uncertainties may cause actual future events to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.