Texas Rare Earth Resources Names Former Newmont Mining Executive Anthony Garcia as Senior Vice President of Project Development
Charged to Apply Engineering and Development Experience from
Newmont and Bechtel Metals and Mining to Advance Exploration and
Development of Round Top Heavy Rare Earth Project
Texas Rare Earth Resources Corp. (the 'Company?) (OTCQB:TRER), a heavy
rare earths exploration, development and mining company, today announced
that Anthony Garcia has joined the Company as Senior Vice President of
Project Development. Most recently, Mr. Garcia served as Value Assurance
Senior Director for Newmont Mining (NYSE: NEM), where he oversaw the
review of 35 projects in Newmont′s pipeline. Earlier in his career, Mr.
Garcia progressed through a series of promotions at Bechtel Mining and
Metals.
Marc LeVier, President and Chief Executive Officer of the Company,
stated, 'We expect that Anthony′s hands-on experience with engineering
design and the construction of significant mining projects will provide
us with a distinctive advantage as we begin development efforts at our
flagship Round Top project, which we believe positions us to be a
leading, global low-cost producer for rare earth minerals as the demand
for heavy metals continues to grow. He has also managed various
remediation activities while coordinating interaction with state and
federal regulators, which significantly strengthens our compliance
program.?
Mr. Garcia has more than 20 years of project/engineering management,
design, and field experience in the mining and metals industry. He has
been involved with studies, detailed design, construction, and the
commissioning of a wide range of metals and mining projects around the
world. He has worked on remediation of uranium mine and mill operations
as a member of an engineering design/construction team required to
regularly interface with state and federal regulators. Mr. Garcia also
has experience working in in-situ recovery uranium projects at the
Palagena Mine in Southwest Texas. He earned his BS, Master′s degree in
Engineering, and an MBA in Industrial Engineering from Colorado State
University.
About Texas Rare Earth
Texas Rare Earth Resources Corp.'s primary focus is developing its Round
Top Mountain rare earth?beryllium-uranium project which also includes
niobium, tantalum and gallium. Round Top is located in Hudspeth County,
Texas, 85 miles east of El Paso, Texas. Independently published data
indicates the property may contain more than one billion metric tons of
rhyolite containing rare earth minerals with potentially a 67% ratio of
heavy to light rare earth minerals. Prior exploratory work also
indicates what the Company believes to be a potentially large,
high-grade beryllium mineralization. Uranium mineralization is also
present in the deposit. The Company′s common stock trades on the OTCQB
Market tier under the symbol 'TRER.?
For more information on Texas Rare Earth Resources Corp., visit
its website at http://www.texasrareearth.com.
Cautionary Note to U.S. Investors
The United States Securities and Exchange Commission ('SEC?) limits
disclosure for U.S. reporting purposes to mineral deposits that a
company can economically and legally extract or produce. Our Round Top
Mountain rare earth-beryllium-uranium project currently does not contain
any known proven or probable ore reserves under SEC reporting standards
and our reference above to the metric tons of rhyolite contained at the
project is a reference only to estimated in-place tonnage. U.S.
investors are urged to consider closely the disclosure in our latest
reports and registration statements filed with the SEC. You can review
and obtain copies of these filings at http://www.sec.gov/edgar.shtml.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the U.S. Securities Act of 1933, as amended, and U.S.
Securities Exchange Act of 1934, as amended. All statements, other than
statements of historical facts, included in this press release that
address activities, events or developments that Texas Rare Earth
Resources expects or anticipates will or may occur in the future,
including such things as the potential development of the Round Top rare
earth?beryllium-uranium project, estimates of mineralized material, the
potential advantages of hiring Mr. Garcia, the potential positioning of
the Company to be a leading, global low-cost producer of rare earth
minerals, the potential ratio of heavy to light rare earth minerals
present at the Round Top project, the number of metric tons of rhyolite
contained at the Round Top project and other such similar matters are
forward-looking statements. When used in this press release, the words
'potential?, 'indicate?, 'expect?, 'intend?, 'hopes,? 'believe,? 'may,?
'will,? 'if, 'anticipate? and similar expressions are intended to
identify forward-looking statements. These statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of Texas Rare Earth
Resources to be materially different from any future results,
performance or achievements expressed or implied by such statements.
Such factors include, among others, uncertainty of mineralized material
estimates, risks relating to completing drilling and metallurgical
testing at the Round Top project, risks related to project development
determinations, risks related to fluctuations in the price of rare earth
minerals, the inherently hazardous nature of mining-related activities,
potential effects on Texas Rare Earth Resource′s operations of
environmental regulations, risks due to legal proceedings, risks related
to uncertainty of being able to raise capital on favorable terms or at
all, as well as those factors discussed under the heading 'Risk Factors?
in Texas Rare Earth Resource′s latest annual report on Form 10-K as
filed on February 8, 2011, as amended, April 19, 2011, and other
documents filed with the U.S. Securities and Exchange Commission.
Although Texas Rare Earth Resources has attempted to identify important
factors that could cause actual results to differ materially from those
described in forward-looking statements, there may be other factors that
cause results not to be as anticipated, estimated or intended. Except as
required by law, Texas Rare Earth Resources assumes no obligation to
publicly update any forward-looking statements, whether as a result of
new information, future events or otherwise.
Company:
Marc LeVier, 303-507-3842
President & CEO
mlevier@texasrareearth.com
or
Investor
Relations:
Kei Advisors LLC
Deborah K. Pawlowski,
716-843-3908
dpawlowski@keiadvisors.com