Raytec Metals Corp.
TSX VENTURE : RAY

Raytec Metals Corp.

July 07, 2009 08:00 ET

Raytec Metals Corp. Receives Final 2D Seismic Report

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 7, 2009) - Raytec Metals Corp. (the "Company" or "Raytec") (TSX VENTURE:RAY) announces that it has received the final seismic interpretation report from the 2D seismic survey conducted on the KP441 permit area of the Spar Property in Saskatchewan. The seismic program was conducted to define additional potential potash mineralization to the previously defined indicated resource of 12.49 million tonnes of K2O and an inferred resource of 12.24 million tonnes of K2O.

The seismic data identified a large area on the Spar Property that has a stable Prairie Evaporite environment where potash mining can occur. The report estimates that the size of the total mineable potash area on the KP441 potash permit is up to 97,000 continuous acres and outlines several primary targets. A four well exploratory drill program is recommended to further define the extent, grade, thickness and type of potash mineralization present on the property. Seismic surveys offer the Company a way of determining the lateral extent of the potash beds as well as providing geological data to guide future drilling and mining operations.

Raytec's president, Mr. Brian G. Thurston, states: "We are pleased with the results from the seismic program and look forward to advancing our potash projects toward commercialization together with Angus Ventures Corp. and Encanto Potash Corp."

The technical content in this news release has been reviewed by Wayne J. Roberts, P.Geo., a director of Raytec and a qualified person as defined by National Instrument 43-101.

About Raytec:

Raytec Metals Corp. is a well-financed, Canadian exploration company with a recently signed Farm-In letter of intent with Africa Oil Corp. and a recently signed letter of intent with Angus Ventures Corp. and Encanto Potash Corp. Raytec currently holds over 180,000 acres of potash permits in Saskatchewan, Canada - the largest producing region for potash in the world. The Company holds approximately a 20 per cent 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 an iron ore project in Ontario, and a uranium joint venture project in the Athabasca Basin of Saskatchewan.

To find out more about Raytec Metals Corp., please visit the company website at www.raytecmetals.com or review the documents filed on www.sedar.com.

On behalf of the Board,

RAYTEC METALS CORP.

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.

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

Contact Information

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