VANCOUVER, British Columbia, Dec. 20, 2022 (GLOBE NEWSWIRE) — Tactical Resources Corp. (CSE: RARE) (OTC: USREF) (“Tactical Resources” or the “Company”), a mineral exploration and development company focused on the rare earth elements (“REEs”) that drive the critical technologies of the future, is pleased to provide a year in review summary of activities.
- Achieved successful public listings
- Transitioned Texas-based Peak Project into flagship asset
- Achieved positive initial metallurgical extraction results from bench-scale test work
- Identified potential lithium by-product opportunity
- Initiated strategic plans aimed to expedite PEA planning towards production scenarios
“It’s been an exciting and busy year in the relatively short history of Tactical Resources,” notes Company CEO Ranjeet Sundher. “We hit the ground running with our Texas-based Peak Project and really haven’t slowed down since. Peak continues to build from strength-to-strength as we believe it becomes more evident that our initial assessment of this flagship property was well founded. Partnering with a pre-existing and fully operational rock quarry was a major value-driver for us. At the quarry, we observed the potential for REE rich material in our initial analysis and within the last year we have attained a number of notable milestones and are very proud of our achievements to-date. Here are some of the top highlights from the past year.”
Public Sector Highlights
In Q1 of 2022, the Company listed on the Canadian Stock Exchange (CSE) with access to public markets under the trading symbol “RARE.” By Q2, the Company had received DTC eligibility for U.S. trading to gain exposure to U.S. capital markets.
Throughout the first three quarters of the year, Tactical Resources grew internal and external partnerships (metallurgical, legal, marketing, financial, capital markets, technical, procurement, project management) to support our business growth plans. The team further performed industry and sector reviews to strengthen our corporate strategy with a key focus on domestic assets, advanced projects, and clean tech processing. Notably, the Company divested non-core assets to streamline its portfolio and focus resources by transitioning the Peak Project into its flagship asset. Find out more about the Peak Project at: https://tacticalresources.com/investors/#corporate-video.
The Company completed a National Instrument (NI) 43-101 Technical Report for the Peak Project to serve as the foundation for future project development work. The Company also engaged several contractors and expanded its advisory team. Completion of initial Peak Project bench-scale metallurgical test work showed Total Rare Earth Element (TREE) plus Yttrium (Y) preliminary extraction rates ranging from 88% to 96%. The team went on to identify a potential lithium by-product opportunity which may enhance project value. Due to all of these positive indicators, company management has initiated Preliminary Economic Assessment (PEA) planning efforts to identify project development and value-add pathways.
“We have identified what we believe is significant potential and are working towards an accelerated rare earth production model that we hope to elaborate upon in the coming months,” states CEO Sundher. “It’s a thrilling time to be involved in the critical minerals space in America, and we look forward to an even busier year ahead as we continue to unlock the potential of this exciting project.”
Tactical Resources is focused on becoming a premier North American developer of REE products to meet domestic supply chain needs. For more information, please visit the Tactical Resources website (https://tacticalresources.com/).
On Behalf of The Board of Directors,
Chief Executive Officer & Director
Tactical Resources Corp.
The Company’s disclosure of metallurgical information in this press release has been reviewed and approved by Norman Chow, P.Eng, of Kemetco. Norman Chow is a Qualified Person as defined under the terms of National Instrument 43-101.
About Tactical Resources Corp. (CSE: RARE) (OTC: USREF)
Tactical Resources is a mineral exploration and development company focused on rare earth elements based in Vancouver, British Columbia, and holds interests at the Lac Ducharme property located in Quebec, and the Peak Project in western Texas. The Company is also actively involved in the development of innovative metallurgical processing techniques to further unlock REE development potential. Find out more at: www.tacticalresources.com and follow us on Twitter.
Forward Looking Information Disclaimer
This news release contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In
some cases, forward-looking statements can be identified by terms such as “may”, “would”, “could”, “will”, “likely”, “except”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook”, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to the Company’s plans to expedite the PEA planning efforts.
Forward-looking information is based on the assumptions, estimates, analysis, and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; the Company’s ability to secure additional financing on reasonable terms; the competitive conditions of the sector in which the Company operates; and laws and any amendments thereto applicable to the Company.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described in the Company’s long form prospectus dated February 28, 2022, under the heading “Risks Factors.” Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Tactical Resources Corp.
Telephone: +1 (778) 588-5483
Matt Chatterton, Director
Tel: +1 (778) 613-2068