|By Marketwired .||
|August 14, 2013 04:20 PM EDT||
SAN DIEGO, CA -- (Marketwired) -- 08/14/13 -- SourcingLink.net Inc. (PINKSHEETS: SNET) has agreed to a purchase agreement, subject to delivery of payments, to acquire the Eldor Rare Earth Property Claims (Eldor Project) located in Northern Quebec, Canada that adjoins the west boundary of Commerce Resources' Ashram Project. The neighboring property, Ashram project, currently has a Preliminary Economic Assessment (PEA) with a Net Present Value (NPV) at a 10% discount rate of $2.32 billion, (a pre-tax/pre-finance Internal Rate of Return (IRR) of 44%). The Ashram Deposit is recognized as a World-Class Deposit with one of the highest grades of large tonnage advanced-stage rare earth element ("REE") including a Measured and Indicated resource of 29 Million tons at 1.90% Total Rare Earth Oxide ("TREO") and Inferred resource of 220 Million tons at 1.88% TREO. The CEO of SourcingLink.net Inc. Anne Carioti commented, "Because we are directly adjacent to a world class rare earth deposit that has a very positive geological data, we are excited about acquiring the Eldor property claims."
The Eldor Project is located in Northern Quebec which is considered one of the most favorable mining jurisdictions in the world. SourcingLink.net Inc. shall also benefit as the property is designated as part of the "Plan Nord" for major economic, social and environmental development as announced by the Quebec Government. Sourcelink.net intends to commence an initial work program in order to identity initial exploration drill targets. To date there have been significant indicators which suggest the presence of Rare Earth Elements including trenching sampling, geochemistry and geophysics. Please visit our website www.sourcinglink.org for additional details.
About SourcingLink.net Inc.:
SourcingLink.net is a U.S. based publicly traded exploration and development company with a focus on rare metals and rare earth elements which are among the primary input materials of technology in the 21st Century.
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