BOSTON, MA — (Marketwire) — 01/04/12 — REE International, Inc. (PINKSHEETS: REEI) (the “Company”), a U.S. based mineral exploration company focused on the exploration and production of rare earth elements, today announces it anticipates signing a letter of intent within the next 30 days to purchase a tantalum producing property located in the country of Bolivia.
Tantalum is a rare, lustrous transition metal that is highly corrosion resistant and almost impervious to chemical attack. The metal-s primary use today is in tantalum capacitors found in electronic equipment, such as mobile phones, DVD players, video game systems and computers. Tantalum, always together with the chemically similar niobium, occurs in the minerals tantalite, columbite and coltan (a mix of columbite and tantalite).
Tom Mackay, CEO of REE International, stated, “If acquired, this property would be developed in addition to our Santa Cruz property located in Venezuela. We are also currently in the process of evaluating several other properties throughout Bolivia and South America to possibly add to our portfolio, and will have more information forthcoming as soon as our due diligence is complete.”
About REE International, Inc.
REE International, Inc. is a U.S. based mineral exploration company seeking to identify and build an inventory of mineral properties with a primary emphasis on South America. The Company will initially focus on the exploration, mining and sale of tantalum and niobium from their Santa Cruz property located in Venezuela. For more information, please visit our website at .
Forward-Looking Statements
This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect the Company-s current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company-s actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information included in this Press Release including such forward-looking statements.
Contact:
Tom Mackay
Chief Executive Officer
Ph. (617) 372-3293
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