|By Marketwired .||
|August 25, 2014 03:01 AM EDT||
SAN DIEGO, CA -- (Marketwired) -- 08/25/14 -- SourcingLink.net (PINKSHEETS: SNET) has recently renewed all of its existing claims pursuant to its agreement (announced August 16, 2013) to acquire 100% interest in the Eldor Rare Earth Property Claims (Eldor Project) located in Northern Quebec, Canada. The Eldor Project consists of approximately 2438 acres including 21 claims and is contiguous to the west boundary of Commerce Resources' Ashram Project which 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%. Please see link to map of Eldor Project and surrounding region (http://www.sourcinglink.org/projects.html).
The claims were renewed with the Ressources Naturelles du Québec including 5 claims that are valid through June 16, 2017.
Anne Carioti, CEO, has commented, "It was imperative that we maintain our current claims in an area with such significant exploration potential. We are looking forward to commencing an exploration program on the Eldor Project within the near future."
About The Eldor Project:
SourcingLink.net, Inc. signed an agreement to acquire 100% interest in the Eldor Rare Earth Property Claims (The Eldor Project) located in Northern Quebec, Canada. The Eldor Project consists of 21 mineral rights claims covering approximately 2438 acres and is located in Northern Quebec which is considered one of the most favorable mining jurisdictions in the world.
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.
This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, which contain words such as "expect," "believe" or "plan," by their nature address matters that are, to different degrees, uncertain. These uncertainties may cause actual future events to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
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