BE Resources Inc.
TSX VENTURE : BER

BE Resources Inc.

April 07, 2010 08:30 ET

BE Resources Provides Update on Permitting on Outlying Hydrothermal Areas of New Mexico Beryllium Project

TORONTO, ONTARIO--(Marketwire - April 7, 2010) - BE Resources Inc. (TSX VENTURE:BER) ("BE" or the "Company") announces that it has received a positive recommendation from the staff of the MMD (New Mexico Mining and Minerals Division) regarding the company's application for a drilling permit on one of its outlying hydrothermal properties (referred to as Iron Mountain). The permit applied for by BE for its Warm Springs project is still pending in the final stage of approval by the MMD.

In February 2010, BE Resources received a letter from the MMD providing, in part, that upon receipt of the required financial assurance, the staff of the MMD would make a favorable recommendation to the director to issue the permit. The required financial assurance, in the amount of $93,150, is the "final step in the application process" according to the staff of the MMD.

BE plans to pay the surety, and upon issuance of the permit, begin drilling Iron Mountain upon completion of a financing.

About Beryllium

Beryllium is a lightweight, high value metal possessing unique mechanical and thermal properties. It is 1/3 lighter than aluminum, has 6 times the tensile strength of steel, has a very high melting point of 2349 degrees F or 1287 degrees C and is an excellent thermal conductor. Commercial uses of beryllium include aircraft structural components, nuclear reactor components, and specialty copper alloys, as well as mass market consumer electronics such as cell phones, ipods and HD televisions. 

About BE Resources Inc.

BE Resources Inc. is a junior mineral exploration company focused on advancing the exploration and development of its beryllium projects in New Mexico. For more information please visit BE's website at www.be-res.com.

Cautionary Statements

Certain statements contained in this news release may contain forward-looking information within the meaning of United States and Canadian securities laws. Such forward-looking information is identified by words such as "estimates", "intends", "plans", "expects", "believes", "may", and "will" and include, without limitation, statements regarding the Company's expectations that a permit will be issued and its plan to begin drilling in the outlying hydrothermal area subject to completion of a financing. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, risks inherent in the mining industry, financing risks, labour risks, uncertainty of mineral resource estimates, equipment and supply risks, title disputes, regulatory risks and environmental concerns and other factors identified in regulatory filings, including the Company's annual report on Form 10-K for the year ended December 31, 2009. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • BE Resources Inc.
    David Tognoni
    President & CEO
    575-744-4014
    P.O. Box 682
    Elephant Butte, New Mexico, 87935