Tantalus Rare Earths : Application for insolvency proceedings

Grünwald, 16 October 2015 -Tantalus Rare Earths AG announces that the Management has decided to file an application for insolvency proceedings at the Munich Local Court today. The open payables at Tantalus Rare Earths AG amounted to EUR 1,518,534.00 at the date of the application.
As previously communicated Company has actively looked for a funding solution after the non-payment of an investor during a private placement in April 2015. Despite these efforts the funding has not been obtained for the moment. The Management Board will together with the preliminary supervisor continue to search for a funding solution in the best interest of all shareholders and other stakeholders.

The group's subsidiaries and especially the operations in Madagascar are not directly impacted by this measure.

About Tantalus Rare Earths AG
Tantalus Rare Earths AG (ISIN DE000A1MMFF4) is a Germany-based exploration company, engaged in the development of rare earths in Madagascar. Tantalus's shares are quoted on the 'Primärmarkt' of the Düsseldorf Stock Exchange.

For further information please contact:
Thomas Hoyer, CEO, Tantalus Rare Earths AG
Tel.: + 49 1512 4017229
[e-mail]

Markus Kivimäki, EVP, Tantalus Rare Earths AG
Tel.: [phone]
[e-mail]

GB media contact:
Bell Pottinger
Charles Vivian
Marianna Bowes
Tel.: [phone]

German media contact:
rikutis consulting
Falk v. Kriegsheim
Tel.: [phone]

16.10.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de