VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 5, 2016) - Tasman Metals Ltd. ("Tasman" or the "Company") (TSX VENTURE:TSM)(FRANKFURT:T61)(OTCQB:TASIF). The Company announces that it will hold its annual general and special meeting (the "Meeting") of the Company's shareholders (the "Shareholders") on Thursday, August 18, 2016, at 10 am (Pacific Standard Time) at the Company's offices located at Suite 1305 - 1090 West Georgia Street, Vancouver, BC, V6E 3V7. At the Meeting, Shareholders will be asked to, among other things, consider the Plan of Arrangement (the "Arrangement") with Flinders Resources Limited, as announced via joint news releases dated May 11, 2016 and June 21, 2016.
Tasman is working closely with its legal counsel to consider alternatives to mailing proxy materials to Shareholders in the event of a disruption to mail service due to a possible Canada Post strike. Proxy materials will be made available also on the Company's website at www.tasmanmetals.com and under the Company's profile on SEDAR at www.sedar.com
Also, further to the Company's news releases of February 23rd and March 31st 2016, the Company wishes to provide an update on the status of the mining lease ("ML") for the Norra Karr heavy rare earth element project in Sweden.
On February 23rd, the Company reported the decision of the Swedish Supreme Administrative Court ("SAC") to cancel the ML which has been in force since mid-2013 on the basis that insufficient information was provided regarding potential impact on areas that surround the ML. The SAC decision was subsequently reviewed by Swedish Ministry of Enterprise and Innovation (Näringsdepartementet) to consider how the Mining Inspectorate should apply this new interpretation of the Mining Act. Tasman provided comment to the Ministry of Enterprise and Innovation as part of this review process.
The Ministry of Enterprise and Innovation has now released their findings and determined that the handling of the Norra Karr mining lease, along with three other mining leases held by third parties, be returned to the Mines Inspectorate for reassessment. The Mines Inspectorate will consider all four mining lease applications including Norra Karr, and determine any additional information that is required as a result of this new interpretation of the Mining act by the SAC.
Mark Saxon, Tasman's President and CEO, states, "We interpret the decision by the Swedish Ministry of Enterprise and Innovation as a reasonable and fair outcome from the decision of the SAC earlier this year. We believe the Mines Inspectorate, which granted the ML to Tasman in 2013, now has the opportunity to review the Company's application documentation based on the new interpretation of the Mining Act, and advise the Company on any additional data that should be provided."
A further update will be provided when the Company gains additional information. Tasman continues to own 100% of the Norra Karr project under exploration license while the ML application documentation is being reassessed.
On behalf of the Board,
Mark Saxon, President & CEO
The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the Frankfurt Stock Exchange accepts responsibility for the adequacy or accuracy of this news release.
Certain statements found in this release may constitute forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect the speaker's current views with respect to future events and financial performance and include any statement that does not directly relate to a current or historical fact. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, uncertainties related to the availability and costs of financing, changes in corporate goals, unexpected expenditures, our ability to identify and close suitable acquisitions, unexpected geological conditions, success of future development initiatives, imprecision in resource estimates, ability to obtain necessary permits and approvals, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, the Company's expectations regarding the Norra Karr ML, seasonality, technological change, changes in industry practices, changes in world metal markets, changes in equity markets, environmental and safety risks, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein. Forward-looking statements cannot be guaranteed and actual results may vary materially due to the uncertainties and risks, known and unknown, associated with such statements. Shareholders and other readers should not place undue reliance on "forward looking statements", as such statements speak only as of the date of this release.