SAN DIEGO, CA–(Marketwired –August 4, 2014) – SourcingLink.net Inc. (OTC Markets:SNET) Is continuing its work with its property and looking to expand its work in this growing sector. As the tech industry is in need of Rare Earth Elements (“REE”) in its manufacturing, Sourcing Link is constantly looking to work in its existing properties and potentially adding to its portfolio of existing properties. As per the recent published article in Mining.com article on June 29, 2014 the REEs support a manufacturing sector worth between $2 trillion and $4.8 trillion. Director general of the industry and analyst for the Canadian Department of Natural Resources, Christiane Villemure, says in its report: “Over the last 10 to 15 years, the world consumption of REEs has increased at 8% to 12% per annum, a trend that experts agree will continue, and may increase.”
SourcingLink.net Inc. during Fiscal Year 2013 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.