Seymour Ventures Corp.

May 16, 2011 08:30 ET

Seymour Ventures Subsidiary Rare Earth Industries Acquires Lanthanum-Yttrium Exploration Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 16, 2011) - Seymour Ventures' (TSX VENTURE:SEY)(FRANKFURT:3CK1)(WKN:A1C08G) wholly owned subsidiary Rare Earth Industries Ltd (REI), is pleased to announce that it has secured a rare earth element exploration property in Fremont County, Colorado, known historically as the Henry Pegmatite.

A total of 66 claims were staked from the US Bureau of Land Management, and consist of approximately 1320 acres. The claims are located approximately 3 kilometers north-northeast of Cotopaxi, CO, and are easily accessible by paved roads. Existing infrastructure will greatly assist REI in conducting exploration work.

The Henry Pegmatite, which has a minimum strike length of 84 m and width of 12 m, is situated along the contact between the Pikes Peak batholith and clastic metasedimentary host-rocks. Mining was initiated in 1939 when several hundred tons of potash feldspar was produced by the Colorado Feldspar Company from open cuts. Rare earth element minerals were first documented in an investigation by Heinrich (1948, The American Mineralogist, vol.33).

This pegmatite is an example of a rare earth element class, REL-REE subclass, Euxenite-type according to the classification of Cerny and Ercit (2005). Granitic pegmatite systems of this type can exhibit marked enrichments in rare earth elements, and particularly yttrium. This is suggested at the Henry Pegmatite by the diversity of rare earths minerals such as euxenite-Y, xenotime-Y, allanite-Ce, synchisite-Y (formerly called doverite), samarskite-Y, kainosite-Y (formerly called cenosite) that are associated with fluorite, columbite, zircon (variety cyrtolite), biotite and magnetite (Eckel, 1997, Minerals of Colorado). For example, synchisite-Y contains 52 wt.% Y2O3 and a notable content of several heavy rare-earth elements (~ 35 wt.% Dy2O3 + Er2O3 + Yb2O3 + Gd2O3) according to historical data (Levinson and Borup 1962, The American Mineralogist, vol.47).

REI will develop a thorough exploration program to fully quantify and assess REE and rare metals potential of the Henry Pegmatite. This will include mapping, geophysical analysis, trenching and sampling, and design of an initial drill program to outline resources. Specifically, REI will look to identify high value drill targets.

Seymour's Qualified Person, Fred Breaks, PhD, will develop and supervise the exploration work and will author the initial Canadian National Instrument 43-101 technical report for the property, as well as continuing updates as work progresses.

This acquisition is consistent with REI's vision to develop a vertically-integrated rare earths and rare metals production supply chain that will focus on adding significant value throughout the production cycle. Securing potential rare earths and rare metals production properties meets REI's acquisition mandate of being either advanced stage assets, or assets with significant potential.

REI's CEO Rob Smith commented, "The acquisition of this property is complementary to REI's previously-announced, past-producing Phantom Pegmatite, also located in Fremont County. REI has a unique opportunity to explore and develop areas of known rare earths and rare metals mineralization."

Frederick W. Breaks, PhD, P.Geo is the Qualified Person responsible for the Phantom Pegmatite Project, and has read and approved the technical disclosure contained in this news release.


Seymour Ventures through its wholly-owned subsidiary, Rare Earth Industries Ltd (REI), is building a vertically-integrated industrial enterprise focused on the high-value processing and separations of rare earth elements and rare metals. The company was formed by executives from the fields of specialized rare earths geology, mine development, chemical processing, and marketing and distribution of finished rare earths products. REI is focused on developing an environmentally sustainable supply chain for rare earths and rare metals sourced entirely outside of China. Rare earth elements are used in magnets for electric vehicles, display screens for electronics, rechargeable batteries and other high-demand products. REI's parent company, Seymour Ventures, is publicly traded on the TSX Venture Exchange under the symbol SEY.

Safe Harbor Statement

This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. 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 in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.

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