SIERRA BLANCA, Texas October 1, 2013 (MARKETWIRE) -- Texas Rare Earth Resources Corp. (TRER), a heavy rare earths exploration company, today announced that Mr. Jack Lifton has been appointed to the Texas Rare Earth Resources Board of Directors, effective October 1, 2013.
Mr. Lifton is a noted consultant, author and lecturer on the market fundamentals of nonferrous strategic metals and on the business modeling and operations of ventures pursuing the mining, refining, and fabrication of such metals and alloys. He has more than 51 years of experience in the global OEM automotive, heavy equipment, electrical and electronic, mining, smelting, and refining industries. His background includes the sourcing, manufacturing and sales of platinum group metals and products, rare earths based technologies including rare earth permanent magnets, batteries, sensors, phosphors and ceramic specialties used to make catalytic converters. Today he principally conducts due-diligence studies of business models and operations on behalf of institutional investors to assist in evaluating the probability of commercial success in metal-related ventures. Mr. Lifton is a Co-Founding Principal of Technology Metals Research LLC and a Senior Fellow of the Institute for the Analysis of Global Security. He was educated as a physical chemist, specializing in high-temperature metallurgy and was “present at the creation” of many consumer technologies based on amorphous semiconduction, such as the recordable DVD and the SSD memory, and on the enabling properties of the rare earths that led to both the nickel metal hydride battery and the mass produced rare earth permanent magnet.
He was also an early researcher in the processing of low -grade materials as well as in the recycling of rare metals used in mass production such as platinum, palladium, rhodium, gallium, and the rare earth metals. He maintains a current interest in recycling as an underutilized resource of rare technology metals.
Dan Gorski, CEO of Texas Rare Earth Resources, noted, “We are honored to have Jack join our board. Now that we have demonstrated we can successfully process the rock at our Round Top Project, our principal objective is to monetize our asset base while informing the investing and mining community of the value we believe our company possesses. We believe Jack’s expertise will assist us in reaching these goals”.
Anthony Marchese, Non-executive Chairman of Texas Rare Earth Resources, stated, “We believe Jack’s vast worldwide network in the critical and rare earth metal space will greatly enhance the exposure for our Company as we look to progress our Round Top Project into a significant player in the rare earth element industry.”
About Texas Rare Earth Resources Corp.
Texas Rare Earth Resources Corp.'s primary focus is exploring and, if warranted, developing its Round Top rare earth minerals project located in Hudspeth County, Texas, 85 miles east of El Paso. The Company’s common stock trades on the OTCQX U.S. tier under the symbol “TRER.” For more information on Texas Rare Earth Resources Corp., visit its website at www.trer.com.
Texas Rare Earth Resources Corp.
Anthony Marchese, Chairman
Alliance Advisors, LLC
Phone: (914) 669-0222
This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, including, but not limited to, statements regarding the ability of the Company to process the rock at Round Top Project, the Company’s objective to monetize its asset, the prospective value of the Company’s Round Top Project, Jack Lipton’s appointment to the Board of Directors greatly enhancing the Company’s exposure to the critical and rare earth metal space, the progress of the Company’s Round Top Project into a significant player in the rare earth element industry and other such similar statements. When used in this press release, the words “potential,” “indicate,” “expect,” “intend,” “hopes,” “believe,” “may,” “will,” “if, “anticipate,” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, risks related to changes in future operating costs and working capital balance, risks related to mineral estimates, risks related to mining results not matching preliminary tests and risks related to the ability of the company to successfully monetize its non-rare earth resources, as well as those factors discussed under the heading “Risk Factors” in the Company’s latest annual report on Form 10-K, as filed on November 15, 2012, and other documents filed with the U.S. Securities and Exchange Commission. Except as required by law, the Company assumes no obligation to publicly update any forward-looking statements.