Leading Edge Materials Secures another 25 years Exploitation Lease for Woxna Graphite Mine in Sweden
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 9, 2017) - Leading Edge Materials Corp. ("Leading Edge Materials") or ("the Company") (TSX VENTURE:LEM)(OTCQB:LEMIF) is pleased to announce that the Company has received confirmation of a 25 year extension on the Woxna exploitation license. The exploitation license for the Woxna Graphite mine was up for renewal in early 2017 and an application for a 25 year extension was submitted to the Mining Inspectorate of Sweden ("Bergsstaten") earlier this year.
Blair Way, President and CEO, stated: "we are very pleased to have received this further 25 years on our exploitation license. This is the first milestone in our re-permitting process for an expanded operation. This exploitation license security enables us to continue our graphite strategy to expand into the supply of high purity graphite for the burgeoning electric vehicle and energy storage markets.
An exploitation concession (bearbetningskoncession) gives the holder the right to exploit an extractable mineral deposit for a period of 25 years, which may be extended a further 25 years. Leading Edge Materials exploitation and environmental permits for the Woxna Graphite mine and processing facility were issued by the Mining Inspectorate in 1992. The application for a 25 year extension was submitted earlier this year and the extension was granted in early November and took full legal effect at the end of December.
On behalf of the Board,
Blair Way, President & CEO
The qualified person as defined in National Instrument 43-101 for the Woxna project, Blair Way, President and Chief Executive Officer and a director of the Company, and a Fellow of the Australasian Institute of Mining and Metallurgy, has reviewed and verified the contents of this release.
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Forward-Looking Information. Certain information in this news release may constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, "Forward-Looking Statements"). All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are Forward-Looking Statements. Forward-Looking Statements are often, but not always, identified by the use of words such as "seek," "anticipate," "believe," "plan," "estimate," "expect," and "intend" and statements that an event or result "may," "will," "can," "should," "could," or "might" occur or be achieved and other similar expressions. Forward-Looking Statements are based upon the opinions and expectations of the Company based on information currently available to the Company.
Forward-Looking Statements are subject to a number of factors, risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the Forward-Looking Statements including, among other things, timing of the ground magnetic survey and shallow soil sampling program, timing of a diamond drill programs, the Company has yet to generate a profit from its activities; there can be no guarantee that the estimates of quantities or qualities of minerals disclosed in the Company's public record will be economically recoverable; uncertainties relating to the availability and costs of financing needed in the future; competition with other companies within the mining industry; the success of the Company is largely dependent upon the performance of its directors and officers and the Company's ability to attract and train key personnel; changes in world metal markets and equity markets beyond the Company's control; mineral resources are, in the large part, estimates and no assurance can be given that the anticipated tonnages and grades will be achieved or that the indicated level of recovery will be realized; production rates and capital and other costs may vary significantly from estimates; changes in corporate goals and strategies, unexpected geological conditions; and delays in obtaining or failure to obtain necessary permits and approvals from government authorities. Although the Company believes that the expectations reflected in the Forward-Looking Statements, and the assumptions on which such Forward-Looking Statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on Forward-Looking Statements, as there can be no assurance that the plans, intentions or expectations upon which the Forward-Looking Statements are based will occur. Forward-Looking Statements herein are made as at the date hereof, and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these Forward-Looking Statements.