Texas Rare Earth Resources Contracts Gustavson Associates, LLC to Perform Scoping Study at Round Top Heavy Rare Earth Project
Provides extensive, global mining industry experience
Denver, CO and Sierra Blanca, TX, November10, 2011-- Texas Rare Earth Resources Corp. (OTCQB: TRER), a heavy rare earths exploration and development company, today announced that Gustavson Associates, LLC, a subsidiary of Walsh Environmental Scientists and Engineers and its parent company, Ecology and Environment, Inc. (NASDAQ: EEI) has been contracted to perform the scoping study at the Round Top Rare Earth project in Texas. Gustavson has more than 29 years experience in the mining business, specializing in minerals and hydrocarbon exploration, production, and evaluation. In the minerals sector, their experience and capabilities focus on evaluation of exploration opportunities, computerized mineral resource and reserve estimation, project financing, due diligence, feasibility studies, appraisals and valuations, and qualified person reports. Having completed several feasibility studies, due-diligence and independent engineer projects as well as numerous technical reports under Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") in just the last year, Gustavson Associates has been involved in several well-known projects to include the Yauricocha deposit in Peru, the Contact Copper Project, the Pan Gold Project and the Pinson Gold Project in Nevada.
Anthony J. Garcia, the Company's Senior Vice President of Project Development, commented, "Our drilling and metallurgical testing activities have advanced sufficiently that we can now initiate the preliminary economic assessment, or scoping study, and have engaged a highly regarded and very qualified firm in Gustavson to complete a technical report which we have requested to be NI 43-101 compliant. The scoping study, which we expect to move us forward in the definition of the resource and de-risking of the project, is anticipated to provide the required environmental baseline analysis, archaeological study and also to clarify land requirements, as well as provide the mapping and testing of water sources while defining the boundaries of the project. The outcome will be various financial scenarios for consideration. We expect the study to be completed by mid-2012."
The Gustavson project team will be led by Donald E. Hulse, Vice President Mining and Principal Mining Engineer. Mr. Hulse has over 27 years of experience in the mining industry, including technical and general management, operational planning, economic analysis and cost estimation, pit and phase design, resource and reserve estimation, feasibility studies and reserve audits. Mr. Hulse is a Qualified Person as defined by NI 43-101, a Professional Engineer registered with the Colorado State Board of Professional Engineers and Land Surveyors, and a member of the Society of Mining, Metallurgy, and Exploration.
About Texas Rare Earth
Texas Rare Earth Resources Corp.'s primary focus is exploring and developing its Round Top rare earth minerals project. The Round Top project is located in Hudspeth County, Texas, 85 miles east of El Paso, Texas. Independently published data indicates the property may contain approximately 1.6 billion metric tons of rhyolite host rock, containing rare earth minerals with potentially a 70% ratio of heavy to total rare earth minerals. Prior exploratory work also indicates the potential for a large zone of high-grade beryllium mineralization on the Company's property. Uranium mineralization is also present at the site. 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.trer.com.
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