Texas Rare Earth Resources Announces Round Top Project Update
Reverse Circulation and Core Drilling at Round Top project completed
for Pre-Feasibility Study (PFS)
Hazen Research, Inc. (Hazen) in Colorado contracted to continue
metallurgical testing
Texas Rare Earth Resources Corp. (the Company) (OTCQX: TRER), a mineral
exploration and development company, today provided an update on its
flagship Round Top heavy rare earths project in Texas.
Marc LeVier, Chief Executive Officer and President of the Company
commented, 'We have reached a significant milestone at our Round Top
project with the release this morning of the results of our Preliminary
Economic Assessment study. Additionally, we wanted to announce that we
have now completed planned reverse circulation drilling as well as core
drilling for this phase of the Round Top project. To date we have
drilled a total of 88 holes for approximately 38,990 feet of reverse
circulation material. Additionally we were able to retrieve 1,294 feet
of core from two holes. The core drilling was very difficult in that the
rock is so highly fractured and we had to bring in a number of drilling
engineers and support experts to accomplish the task. We did however
achieve our objectives with the core drilling and are processing the
last of our samples. All of our drilling crews are now off of the
project site, our contract core lab has finished their work and the
samples are being shipped for testing to ALS and Hazen Research. The
data collected from these samples will be used to advance our
Pre-Feasibility Study (PFS).?
The Company also announced today that initial metallurgical testing with
Mountain State R & D in Tucson, AZ has been completed and a contract has
been signed with Hazen Research, Inc. of Golden, Colorado to continue
metallurgical testing for the PFS. The scope of the testing at Hazen
will include comminution (grinding study), flotation, mineralogical
characterization, whole-ore leaching and TREO bulk concentrate leaching.
Mr. LeVier noted, 'We would like to thank Dr. Bhappu and his team for
their expertise for the complex initial metallurgical testing that they
have completed, and we will retain Dr. Bhappu as a consultant to advise
us on our hydro-metallurgical testing and process design.?
About Texas Rare Earth Resources
Texas Rare Earth Resources Corp.'s primary focus is exploring and
developing its Round Top rare earth minerals project. The Round Top
project is located in Hudspeth County, Texas, 85 miles east of El Paso,
Texas. The Company′s common stock trades on the OTCQX U.S. Premier tier
under the symbol 'TRER.?
For more information on Texas Rare Earth Resources Corp., visit
its website at trer.com.
Forward-Looking Statement
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. The completion and results
of processing of core drill samples, use of results of core drilling
samples in PFS, and the scope of continued metallurgical testing are
forward-looking statements. When used in this report, 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 and uncertainty regarding the completion
and results of processing of core drill samples, risks regarding the use
of the results of core drilling samples, risks related to the scope and
results of metallurgical testing, and risks related to the timing and
completion of a PFS, as well as those factors discussed under the
heading 'Risk Factors? in the Company′s quarterly report on Form 10-Q as
filed on April 16, 2012 and the Company′s latest annual report on Form
10K as filed on November 22, 2011 and other documents filed with the
U.S. Securities and Exchange Commission. Although the Company has
attempted to identify important factors that could cause actual results
to differ materially from those described in forward-looking statements,
there may be other factors that cause results not to be as anticipated,
estimated or intended. Except as required by law, the Company assumes no
obligation to publicly update any forward- looking statements, whether
as a result of new information, future events, or otherwise.
Texas Rare Earth Resources
Nadine Wakely, 303-597-8737, Ext
111
Director, Investor Relations
nwakely@trer.com
