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Rare Earth Minerals increase stake into Macarthur Minerals

Further to the Company’s announcement of 18 March 2016, REM is pleased to announce that it has been notified by the Australian Foreign Investment Review Board that they have no objection to the previously announced non-brokered private placement into Macarthur Minerals Limited (TSX-V: MMS) . All matters concerning the Offering are now complete. As previously announced, REM had entered into a subscription agreement for approximately 15.26% of Macarthur Minerals’ Share Capital for a total consideration of CD$300,000.

Further to this, Macarthur Minerals (in which REM owns an approximate 15.26% shareholding), has today announced that it has conducted initial helicopter borne reconnaissance over a number of its Pilbara Exploration Lease Applications. This initial reconnaissance has located pegmatites, which contain one or more minerals indicative of rare element Lithium-Caesium-Tantalum (“LCT”) class of pegmatites, such as beryl, lepidolite, tin (Sn) and tantalum (Ta) minerals; Sn and Ta to be confirmed by geochemical analysis. Spodumene was also tentatively identified in small crystal clumps in pegmatites, however confirmation is also required from the rock chip geochemical analysis.

The full text of the Macarthur Minerals news release is shown below and the full release is available at:

http://web.tmxmoney.com/article.php?newsid=86994325&qm_symbol=MMS

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