April 23, 2009 08:30 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 23, 2009) - Raytec Metals Corp. (the "Company") (TSX VENTURE:RAY) is pleased to provide an update on its seismic program.
Raytec has concluded its 2-D seismic program on the Company's 100% owned Spar Property totaling 145,000 acres of contiguous ground within the extensive Middle Devonian Prairie Evaporite formation of south-central Saskatchewan. Raytec engaged the services of Kinetix Inc. to conduct the program in advance of proposed drilling.
Upon commencement, the program progressed with minimal delays during the early weeks of November 2008. Due to extreme weather conditions in December the crew was provided with an extended break. Data collection continued after the break and has now been completed. Processing of the data is now underway and results are currently being delivered for interpretation. Full interpretation and evaluation of the high resolution 2-D seismic profiling is scheduled for completion in May.
Raytec Metals Corp. is a well-financed Canadian exploration company focused on the acquisition of near-term precious metals assets. The Company holds over 180,000 acres of potash permits in Saskatchewan, Canada - the largest producing region for potash in the world. The Company also 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,
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 the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this news release.
Raytec Metals Corp.Brian ThurstonPresident and CEO604 688 6410604 688 6402 (FAX)www.raytecmetals.com
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