SAN DIEGO, CA–(Marketwired – September 17, 2013) – SourcingLink.net Inc. (OTC Markets: SNET) would like to update the market and shareholders on its strategy of obtaining distressed or undervalued Rare Earth Element (REE) properties or assets due to unprecedentedly low valuations in the Jr. mining market sector. Anne Carioti commented“We feel there is tremendous value here at these levels given the upside potential of the REE Markets” According to Transparency Market Research stated that the rare earth metals demand was worth USD 3.93 billion in 2012 and is expected to reach USD 8.19 billion by 2018, growing at a CAGR of 13.0% from 2012 to 2018.. CEO Carioti continued “It appears that we could be near or at the bottom of the cycle of the low valuations in the junior mining companies and there may be significant opportunities to capitalize on assets. We believe that we recently made a very opportunistic strategic acquisition in the Eldor REE Property and we will continue to look for opportunities that are available which will be accretive for our shareholders”
SourcingLink.net Inc. recently acquired The Eldor Property in Northern Quebec, Canada, which is located adjacent and contiguous to Commerce Resources Corporation’s Ashram Deposit which currently has a Preliminary Economic Assessment (PEA) with a Net Present Value (NPV) at a 10% discount rate of $2.32 billion.
Rare Earth Element are used in much of the today’s technology items such as iPhones or smart phones, flat panel HD TV’s, Hybrid Cars, Wind Turbines, iPad’s and Computers including many other electronic devices and the Company believes that the demand for REE will only increase as it will be an integral part of technology in the future. According toLivescience.com “the elements rapid rise from lab curiosities to helping supply the hearts of modern electronics has put strain upon existing supply chains, and experts worry any supply disruptions could slow the pace of innovation. Now countries all over the world have begun racing to secure new reserves, boost recycling and find material substitutes for these energy critical materials.”
About The Eldor Project :
SourcingLink.net Inc. signed an agreement to acquire 100% interest in the Eldor Rare Earth Property Claims (The Eldor Project) located in Northern Quebec, Canada. The Eldor Project consists of 21 mineral claims covering approximately 2438 acreage and is located in Northern Quebec which is considered one of the most favorable mining jurisdictions in the world.
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.
SourcingLink.net, 12526 High Bluff Dr., Suite 300
San Diego, CA 92130, Tel.858-792-3620