An Important Joint-Venture Offers TANTALEX the Opportunity to Diversify Its High-Tech Minerals Portfolio
TORONTO, ONTARIO and MUNICH, GERMANY--(Marketwired - Sep 22, 2016) - Tantalex Resources Corp. (CSE:TTX)(FRANKFURT:1T0) ("TANTALEX" or the "Corporation"), is extremely pleased to announce that it has signed a definitive joint-venture agreement with La Congolaise d'Exploitation Minière SA ("COMINIÈRE SA"), a private company in which 90% of the share capital is state-owned by the Democratic Republic of Congo ("DRC"), and 10% is owned by L'Institut National de Sécurité Sociale du Congo, DRC's largest Social Security and Pension fund. The joint-venture entity will be named United Cominière sas ("UNITED COMINIÈRE").
Dave Gagnon, Chief Executive Officer of TANTALEX explains, "Signing a joint-venture agreement with COMINIÈRE SA is an important step forward for our Company. The fact that this almost entirely state-owned entity has agreed to offer a public company a 70% stake in a joint-venture speaks volumes about how we have grown Tantalex's reputation within the region as trustworthy, ethical, and socially responsible."
The purpose of this union is to explore for, develop, and to put into production high-tech mineral deposits that may exist on the properties belonging to UNITED COMINIÈRE.
Mr. Gagnon continues, "This joint-venture exposes Tantalex exclusively to a significant land package within the region of Katanga, a region that is mining friendly, and in which we are already very familiar. What's more is that the land package shows evidence of mineralization of some very important high-tech minerals. Not only can this opportunity help us to diversify our assets, it brings us one step closer to our goal of being a major player in the sector of high-tech minerals, where only a few players currently exist."
The Company is currently working on its work program budget for the remainder of the year, and expects to provide a work program update within the next few weeks.
About TANTALEX Resources Corporation
TANTALEX is a mining company engaged in the acquisition, exploration, development and distribution of Tantalum and other high-tech mineral properties in Africa. The Corporation is listed on the Canadian Stock Exchange (symbol: TTX) and the Frankfurt Stock Exchange (symbol: 1T0).
Cautionary Note Regarding Forward Looking Statements
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although TANTALEX believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, TANTALEX disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
The Canadian Securities Exchange (CSE) has not reviewed this news release and does not accept responsibility for its adequacy or accuracy.
For further information, please contacts Investor relations: ir@tantalex.ca or visit us at: WWW.TANTALEX.CA
Contact
Tantalex Resources Corp.
Dave Gagnon
Chief Executive Officer
+16479637476
+37254728653
dg@tantalex.ca
Tantalex Resources Corp.
Kyle Appleby
Chief Financial Officer
+14164179176
ka@tantalex.ca
