SourcingLink.net Amendment to Renewal of Claims for Eldor Project in Northern Quebec, Canada
SourcingLink.net (PINKSHEETS: SNET) would like to amend the press release dated August 25, 2014 whereas the Company actually renewed all of 32 of the existing claims, not 21 as originally announced, pursuant to its original agreement (announced August 16, 2013). The Eldor Property consists of 32 mineral licenses (claims) that cover an area totaling 3719 acres. The claims were renewed with the Province of Quebec’s Ministry of Natural Resources and Fauna. All the mineral licenses are in good standing with the Ministry of Natural Resources and Fauna with no further renewals required prior to November 2015. The Eldor Property borders 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. Please see link to map of Eldor Project and surrounding region (http://www.sourcinglink.org/projects).
CEO, Anne Carioti commented “We are fortunate to have engaged an experienced, qualified Geologist such as Mr. Holmstead to lead our exploration program and expect to have our team on the property within the next several weeks weather permitting. We are excited for the future prospects for the Eldor property deposits, and while we cannot say anything definitive at this point, we hope that the deposits may be as large as our neighbors that Commerce Resources has reported. The applications for rare earth elements use continue to increase and should therefore increase future demand.”
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 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.
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