Raytec Metals Corp.

Raytec Metals Corp.

April 08, 2009 08:30 ET

Raytec Focusing on Precious Metals

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 8, 2009) - Raytec Metals Corp. (the "Company") (TSX VENTURE:RAY) provides update.

2008 in Review:

In early 2008, the market for fertilizer products, including potash, was extremely buoyant, and Raytec's priority was to further the exploration and advancement of the Company's potash properties. Raytec completed a National Instrument 43-101 compliant resource for the Spar Property, which reported an indicated resource of 12.49 million tonnes of K2O and an inferred resource of 12.24 million tonnes of K2O.

Since last summer, the general venture markets and the market appeal of junior potash explorers have fallen dramatically. The Company, with a healthy treasury, has elected to curtail its aggressive potash exploration effort and seek an alternative direction to build value.

2009 Focus to Precious Metals:

While management of the Company remains pleased with the quality of the Company's existing assets, it believes that in today's market, a cash-rich company has increased opportunities to acquire interests in advanced, near-term, or producing precious metal projects. With its strong cash position, the Company is well positioned to take advantage of the current economic environment in the mining industry.

Management continues to evaluate projects of merit, and to work diligently to acquire further assets for the Company. We take this opportunity to thank Raytec shareholders for their continued support.

About Raytec:

Raytec Metals Corp. is a well-financed Canadian exploration company with over 180,000 acres of potash permits in Saskatchewan, Canada - the largest producing region for potash in the world. The Company holds a 15% interest in Sulphur Solutions Inc., an emerging fertilizer company developing state-of-the-art patented technology for the production of micronized sulphur fertilizer. The Company is further diversified with iron ore projects in Ontario, and uranium joint venture projects in the Athabasca Basin of Saskatchewan.

On behalf of the Board,


Brian Thurston, President and CEO

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploration activities and events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements in this news release include statements regarding the Offering (including the anticipated closing date) and future exploration plans and expenditures. Although, the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These statements are based on a number of assumptions, including among others, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals for the transactions described herein, the ability of the Company and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for the Company's proposed transactions and programs on reasonable terms, and the ability of third-party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected on the forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.


Contact Information

  • Raytec Metals Corp.
    Brian Thurston
    President and CEO
    604 688 6410
    604 688 6402 (FAX)