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EANS-News: Tantalus Rare Earths AG / Appointment of Directors and Operational Update

Geschrieben am 22-10-2012

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Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
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Strategic management decisions

Grünwald (euro adhoc) - Tantalus Rare Earths AG

("Tantalus Rare Earths") or ("the company")

Appointment of Directors and Operational Update

Gruenwald 22 October 2012 - Tantalus Rare Earths AG ("TRE"), the
explorer and developer of a large near surface rare earths project in
north western Madagascar, today announces the appointment of new
supervisory board members and provides an update on its operational
and corporate activities.

Highlights

- A general meeting of shareholders has confirmed the appointment of Prof.
Dr. Ernst A. Brugger, Ian Hannam, Ulrich Krauskopf and Thomas Hoyer as new
supervisory board members.

- Prof. Dr. Brugger elected Chairman of the supervisory board.

- A prospectus is being prepared for transferring the listing of TRE to a
more senior German exchange.

- Exploration activities accelerating and environmental impact studies to
commence.

TRE's recently appointed CEO Juergen Schillinger said: "The Company
is proud to have attracted a high calibre supervisory board with the
track record and expertise to oversee the transformation of the
company from explorer to rare earths producer.

"The management of TRE looks forward to working with the supervisory
board in accelerating exploration and development of the tantalus
deposit as well as commencing the environmental and social impact
studies required ahead of mine development."

Mr Schillinger worked until 2011 as a Senoir Portfolio Manager at
Union Investment, one of the leading asset managers in Europe ,where
he managed directly or indirectly an investment volume of more than
Eur 7 billion.

He thanked also the outgoing management board members Ivan Murphy,
Philip Gray, Paul Richards, Lee Goldsmith, Wolfgang Hampel and André
Klupsch who had submitted their resignations at the end of the Annual
General Meeting.

Details of the new supervisory board members are as follows:

Prof. Dr. Ernst A. Brugger (Chairman) Prof. Dr. Ernst A. Brugger is
president of the board of directors of BHP-Brugger and Partners Ltd,
a Zurich-based strategy consultancy specialising in economic
sustainability. As initiator of The Sustainability Forum Zürich and
the Energy Trialog Switzerland, the consultancy focuses on the
practical implementation of sustainability principles in the economy,
society and politics. He holds a PhD in economic geography from the
University of Zurich and over the past 25 years has been a consultant
to businesses and institutions in Europe, Latin America, Africa and
Asia. He is the chairman of the board of directors of SV Group AG,
BlueOrchard Finance and Precious Woods Holding, as well as a
non-executive director of numerous companies, including BG Bonnard &
Gardel Holding S.A. and the World Microfinance Forum Geneva (WMFG).
In addition, he is president of the foundation board of sanu and
honorary member of the Committee of the Red Cross (ICRC).

Ian Hannam Ian Hannam is an respected investment banker with more
than 30 years experience in capital markets and resource financing.
He has been involved in almost 300 corporate transactions involving
investments in more than 40 countries. He was instrumental in the
development of the capital market units of Salomon Brothers and later
JP Morgan and since 1997 has advised major companies, including 12
IPOs where the company's have been included in the FTSE 100. In April
2012, Mr. Hannam resigned from his position as Chairman of Global
Capital Markets at JP Morgan to puruse other interests.

Thomas Hoyer Thomas Hoyer is CEO of Ruukki Group, joining the company
in 2009 as CEO of the now divested wood processing division. He was
responsible for turning around the division and for the successful
sale of five subsidiaries valued at over Eur 100 million. In October
2010 he was promoted to Group CFO and in May 2011 to Group Chief
Executive Officer. Prior to joining Ruukki, he held a number of
senior management positions in portfolio management, private equity
and finance at Allianz, Bank am Bellevue, Invision and Aldata
Solution.

Ulrich Krauskopf Mr. Krauskopf is the founder, chairman and CEO of
Metal Resources Trading Inc, a US materials handling and industrial
metals trading company. Before founding Metal Resources Trading, Mr.
Krauskopf has held several significant senior management positions
with ELG Haniel Trading Corp., Lazarus Metal Resources Group and
Metallgesellschaft AG.

Corporate and Operational Update Mr Schillinger is pleased to advise
that TRE's management and the supervisory board has jointly decided
to proceed with the preparation of prospectus to continue the listing
of the Companys shares at an German exchange.

At the same time, management has recommended a significant expansion
of exploration activities at the Tantalus deposit, with a plan to
increase sampling per year with a concurrent expansion of its JORC
compliant resources. Budgets and proposals for funding this expansion
are currently being assessed.

The results of approximately 3,000 samples from drilling undertaken
this year have been received in recent days, and a further 3,000
results remain outstanding. Assessment of these results is under way
with analysis expected to be completed during the quater.

The Company has also agreed to proceed with environmental and social
impact assessments on the Tantalus project, and these activities
which are essential precursors to the granting of a mining licence,
will be co-ordinated by Supervisory Board Chairman Prof. Dr. Ernst A.
Brugger.

Contact:
Juergen Schillinger
Tantalus Rare Earths AG
Northern Münchner Str 16
82031 Grünwald / Germany
Tel: +49 66 89963960

Further inquiry note:
Für weitere Informationen kontaktieren Sie bitte:

Juergen Schillinger, Chief Executive Officier

Tel: +49 (0) 89 693 960 66
Email: schillinger@tre-ag.com

David Rigoll, Director
Tel: +44 7500 068555
Email: rigoll@tre-ag.com

Paul Weigh
Blythe Weigh Communications
Tel: +44 (0) 20 71383204
oder +44 (0) 7989 129658

end of announcement euro adhoc
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company: Tantalus Rare Earths AG
Nördliche Münchner Str. 16 12
D-82031 Grünwald
phone: +49 (0)89 693 960 66
FAX: +49 (0)89 693 960 68
mail: contact [at] tre-ag.com
WWW: http://www.tre-ag.com
sector: Holding companies
ISIN: DE000A0SMSL4, DE000A1KRQE7
indexes:
stockmarkets: Open Market / Entry Standard: Frankfurt
language: English


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