TANTALEX Resources Corporation

TANTALEX Resources Corporation

September 14, 2017 10:17 ET

TANTALEX and COMINIERE SA Signs MOU for the Development of World-Class Manono-Kitotolo Lithium Project as Well as 7 Other Highly Prospective Regions

Manono-Kitotolo is the Largest Lithium, Tin and Tantalite Pegmatite Deposit Ever Worked in the DRC

TORONTO, ONTARIO and MUNICH, GERMANY--(Marketwired - Sept. 14, 2017) - TANTALEX Resources Corporation (CSE:TTX)(CSE:TTX.CN)(CNSX:TTX)(FRANKFURT:1T0) ("TANTALEX" or the "Corporation"), is pleased to announce that it has signed a Memorandum of Understanding (MOU) with La Congolaise d'Exploitation Minière SA ("COMINIÈRE SA"), to exclusively establish for a period of 75 days, the opportunity to acquire or to participate in a number of highly prospective lithium, cobalt and other high-tech mineral concessions. Under the agreement, COMINIÈRE SA will make available to Tantalex this sizeable land package and Tantalex will provide both the financial and technical capabilities to develop the project.

Claim blocks owned by COMINÈRE SA

Territory Claim Block
MANONO PR 13 359, PER 13 698, PR 12436, 12 442, 12 446, 12 448, 12 452, PR 12 453, PE 13 324
KONGOLO PR 12 437, 12 438, 12 439, 12 462, 12 463
MALEMBA PR 12203, 12204, 12205, 12447, 12454, 12455, 12459, PE 13065
BUKAMA PR 12 450
MITWABA PR 12 443, 12444, 12 445, 12 456, 12458 PE 12 457
MOBA PR 12 707, 12 708
NYUNZU PR 12 440, 12 441, 12 449, 12 460, 12 461

Tantalex currently has a joint-venture with COMINIÈRE SA (70% Tantalex / 30% COMINIÈRE) on their highly prospective Lithium Buckell property, a significant land package measuring 1,343 km2 that is contiguous to the historical Manono-Kitotolo (MK) site (see press releases dated September 22, 2016 & October 19, 2016). In fact, the MK deposit is the geological model upon which Tantalex has also based exploration on its Buckell Lithium project.

The NE pegmatite body, generally referred to as "Manono", is some 5 km in strike length (12 km2 surface area), and the SW body, referred to as "Kitotolo", is known as being slightly longer (and is some 13.5 km2 in surface area). The width of the pegmatite bodies are recorded as "from 50 m to 700 m". Some blocks of dolerite and xenoliths of mica schist are contained within the pegmatite body. Six open pit mines operated at MK from 1915 to 1988, producing an estimate of 140,000 tonnes of cassiterite (Sn) and 4,500 tons of columbite-tantalite (Nb-Ta) (BRGM, 1980). Production between 1985 and 1995 was reported as 1.6 Mmt Sn02 and 47,500 mt columbite-tantalite (International Business Publications, 2011).

In October of 2016, Tantalex reported the presence of Lithium, Tantalum, Niobium and Tin on their Buckell property based on historical data obtained from COMINÈRE SA as well as property assays.

Tantalex's management strongly believes that because previous exploration and production from the MK deposit was focused on extracting tin, the deposit as well as the other claim blocks, including the Buckell property, have remained untapped in regards to their lithium resources. The Company intends to begin an aggressive exploration campaign on the site of MK.

Dave GAGNON, Chief Executive Officer explains, "This is a transformational moment for Tantalex. We have worked diligently over the last several months to secure the MOU and advance the partnership and formally conclude in the near future a number of acquisitions, enabling Tantalex to confirm itself as a Lithium company in what is known as one of the most prolific lithium-rich regions in the world. Our solid relationship with COMINIÈRE and the current partnership gives us unparalleled access to important land packages, infrastructure and support from local government agencies."


COMINIÈRE SA is a private company in which 90% of the share capital is state-owned by the Democratic Republic of Congo ("DRC"), and 10% is owned by L'Institut National de Sécurité Sociale du Congo, DRC's largest Social Security and Pension fund. La COMINIÈRE SA's portfolio of mining properties is comprised of over 30 mining claims totaling 12,456 km2, making it one of the largest landowners in the DRC.

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Gary Pearse MSc, P. Eng, who is a "Qualified Person" as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").

About TANTALEX Resources Corporation

TANTALEX is a mining company committed to developing the LCT-Pegmatite rich land package known as Manono-Kitotolo, in the Democratic Republic of Congo. The Company is listed on the Canadian Stock Exchange (symbol: TTX) and the Frankfurt Stock Exchange (symbol: 1T0).

Cautionary Note Regarding Forward Looking Statements

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Although TANTALEX believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, TANTALEX disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

The Canadian Securities Exchange (CSE) has not reviewed this news release and does not accept responsibility for its adequacy or accuracy.

For further information, please contacts Investor relations: ir@tantalex.ca

Or visit us at: WWW.TANTALEX.CA

Contact Information

  • TANTALEX Resources Corporation
    Dave Gagnon
    Chief Executive Officer

    Kyle Appleby
    Chief Financial Officer

    Christina Lalli
    Manager, Investor Relations