VANCOUVER, Feb. 21, 2018 /CNW/ - Leading Edge Materials
Corp. ("Leading Edge Materials") or ("the
Company") (TSXV:LEM) (OTCQB: LEMIF) (Nasdaq
First North: LEMSE) provides an update on the Company's Norra
Kärr heavy rare earth element (REE) project in Sweden.
In 2016, a Swedish governmental review of the Supreme
Administrative Court ("SAC") interpretation of the Swedish
Mining Act lead the Swedish Mining Inspectorate
("Bergsstaten") to reassess four granted Mining Leases
throughout Sweden. This review included the Company's Norra
Kärr Mining Lease. Bergsstaten subsequently requested supplementary
information from Mining Lease applicants to proceed with the
reassessment process. The Company has recently submitted all
required information to Bergsstaten, to complement the original
Norra Kärr Mining Lease application documentation submitted in
2013.
Subsequent to the submission of the supplementary information,
the Company was made aware that the status of the Norra Kärr Mining
Lease has reverted from "granted" to "application". The
Company continues to hold exclusive rights to the Norra Kärr
project throughout the Mining Lease application process.
Bergsstaten is now re-assessing the supplemented application
documentation.
The Company continues to actively work on optimization of the
Norra Kärr project, focusing on value-add opportunities for both
REE and various by-product materials.
Blair Way, President and CEO,
stated "We continue to work through this Mining Lease
application process with the Swedish authorities and look forward
to finalizing it. Norra Kärr can potentially supply numerous
innovation-critical metals and minerals, for which the European
Union is currently import dependent. We look forward to
continuing our research to add value to this large and strategic
project."
Qualified Person
The qualified person for the Company's project, Mr. Blair Way B.S. (Geology) M.B.A., a Fellow of the
Australasian Institute of Mining and Metallurgy, the Company's
President and CEO, has reviewed and verified the contents of this
document.
Additional information
This is information that Leading Edge Materials Corp. is obliged
to make public pursuant to the EU Market Abuse Regulation. The
information was submitted for publication, through the agency of
the contact person set out above, on 21st day of
February, 2018 at 5:15 AM Vancouver
time.
On behalf of the Board,
"Blair Way"
Blair Way, President & CEO
About Leading Edge Materials
Leading Edge Materials was formed with our sights firmly focused
on the material demands of a once-in-a-generation revolution, as
the world shifts to the efficient production, storage and
preservation of low carbon energy. From the lithium batteries in
our electric vehicles to our ability to generate energy from the
sun, wind and waves LEM is focused on the green energy markets.
With a focus on Europe and assets
in innovation-rich Scandinavia, Leading Edge Materials is ideally
placed to play a pivotal role in the sustainable supply of critical
technology materials. Remium Nordic AB is the Company's Certified
Adviser ("CA") as part of the listing requirements for Nasdaq First
North.
Important information
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accept responsibility for the adequacy or
accuracy of this news release.
Forward-Looking Information. This news release may contain
forward-looking statements and information based on current
expectations. These statements should not be read as guarantees of
future performance or results. Such statements involve known and
unknown risks, uncertainties and other factors that may cause
actual results, performance or achievements to be materially
different from those implied by such statements. Such statements
include but are not limited to, the Company's expectations
regarding the outcome of the Mining Lease application process;
unexpected geological conditions; the Company's expectations
regarding exploration activities to advance critical material
projects for energy storage markets, delays in obtaining or failure
to obtain necessary permits and approvals from government
authorities. Although such statements are based on
management's reasonable assumptions, there are risk factors which
could cause the Company's actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking information contained herein. All forward-looking
information herein is qualified in its entirety by this cautionary
statement, and the Company disclaims any obligation to revise or
update any such forward-looking information or to publicly announce
the result of any revisions to any of the forward-looking
information contained herein to reflect future results, events or
developments, except as required by law.
SOURCE Leading Edge Materials