SIERRA BLANCA, Texas, July 22, 2013 (GLOBE NEWSWIRE) -- Texas Rare Earth Resources Corp. (OTCQX:TRER), a heavy rare earths exploration company, is extremely pleased to announce the results to date from the independent heap leach scoping study that is being performed at Resource Development Inc. (RDI) in Denver. The summary of this work dated July 16, 2013 is referenced below:
Texas Rare Earth Resources management believes that these results provide us with confidence sufficient to justify our allocating top priority to the further development of the heap leaching option for the Round Top deposit. Open circuit column leach tests are under way and we expect preliminary results from this phase of work shortly.
Texas Rare Earth CEO Dan Gorski stated, "The favorable extraction rates and recoveries from direct leaching of crushed rock, coupled with the typically low capital and operating costs associated with heap leach operations and our location in the supportive, resource friendly jurisdiction of West Texas, bode well for Round Top to become an important long term source of the heavy rare earth elements. We cannot stress enough our belief in the importance of having a long term, secure domestic source of these strategically vital elements. It is the mission of Texas Rare Earth Resources to dedicate every effort to the economical extraction of these elements for the benefit of our shareholders, our State and our Nation."
More data on acid consumption, heap leaching parameters and solution must be determined before a determination of potential economic viability of the process can be made. The Round Top project does not contain proven and probable reserves under the Securities and Exchange Commission's Industry Guide 7 and our activities are exploratory in nature.
About Texas Rare Earth Resources Corp.
Texas Rare Earth Resources Corp.'s primary focus is exploring and, if warranted, developing its Round Top rare earth minerals project located in Hudspeth County, Texas, 85 miles east of El Paso. The Company's common stock trades on the OTCQX U.S. tier under the symbol "TRER." For more information on Texas Rare Earth Resources Corp., visit its website at www.trer.com.
This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, including, but not limited to, statements regarding estimated recoveries from acid leaching from a potential heap leach mine, further development of the heap leaching option, expected preliminary results from open circuit column leach tests, potential low costs of heap leach operations, the possibility of the company becoming a producer of heavy rare earth elements and other such similar statements. When used in this press release, the words "potential," "indicate," "expect," "intend," "hopes," "believe," "may," "will," "if," "anticipate," and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, risks related to changes in future operating costs and working capital balance, risks related to mineral estimates, risks related to mining results not matching preliminary tests and risks related to the ability of the company to successfully monetize its non-rare earth resources, as well as those factors discussed under the heading "Risk Factors" in the Company's latest annual report on Form 10-K, as filed on November 15, 2012, and other documents filed with the U.S. Securities and Exchange Commission. Except as required by law, the Company assumes no obligation to publicly update any forward-looking statements.
CONTACT: Company Contact: Texas Rare Earth Resources Corp. Anthony Marchese, Non-Executive Chairman E-mail: firstname.lastname@example.org Investor Contact: Alliance Advisors, LLC Alan Sheinwald Phone: (914) 669-0222 E-mail: email@example.com Valter Pinto Phone: (914) 669-0222 x201 E-mail: firstname.lastname@example.orgSource:Texas Rare Earth Resources Corp.