VANCOUVER, BC (June 21, 2024) —Tactical Resources Corp. (TSXV: RARE) (OTC: USREF) (“Tactical Resources” or the “Company”), a mineral exploration and development company focused on the rare earth elements that drive the critical technologies of the future, announces support of the Department of Defense’s (DoD) initiative to create a robust mine-to-magnet supply chain for rare earth materials. This initiative is pivotal for manufacturing permanent magnets used in key U.S. military systems.
Key Highlights
- Strategic Alignment with DoD Objectives: Tactical Resources reinforces its commitment to the DoD’s goals for a self-reliant rare earth supply chain, essential for national security.
- Crucial Role in Defense Applications: The company’s rare earth elements are vital for manufacturing permanent magnets in critical defense platforms like the F-35 Lightning II and U.S. Navy destroyers.
- Mitigating Supply Chain Risks: A focus on reducing dependency on foreign rare earth supplies, notably from China, which dominates the global market and processing.
CEO Ranjeet Sundher comments, “Aligning with the DoD’s strategic objectives not only underscores our commitment to national security but also may enhance shareholder value by positioning Tactical Resources at the forefront of domestic rare earth supply. We are dedicated to establishing a secure, resilient supply chain that the defense sector can rely on, mitigating the current over-dependence on critical materials processed abroad.”
Rare earth elements are essential for producing permanent magnets used in various defense applications.
Notably:
- The F-35 Lightning II requires over 900 pounds of rare earth elements.
- Each Arleigh Burke DDG-51 destroyer utilizes 5,200 pounds of these materials.
- A Virginia class submarine needs a substantial 9,200 pounds.
The need for establishing a domestic supply chain for rare earth materials is underscored by the current world rare earth producers. With over 60 percent of the world’s rare earths produced by China, and nearly 90 percent processed there, the U.S. faces significant risks in the event of geopolitical tensions or supply disruptions. Tactical Resources’ efforts to enhance domestic rare earth production capabilities are aligned with national interests and aim to mitigate these risks effectively.
Tactical Resources is actively developing properties like the Peak Project in western Texas, which are expected to play a crucial role in the domestic production of rare earth elements. These materials are indispensable for producing permanent magnets used in various defense applications, including precision-guided munitions, advanced communication systems, and more.
By focusing on strengthening the domestic supply chain, Tactical Resources is not only contributing to national security but also enhancing its competitive edge in the global market. We believe this strategic direction may lead to growth and value creation for its stakeholders.
The Company is also pleased to announce that it has granted an aggregate of 877,448 restricted share units (the “RSUs”) to certain consultants of the Company pursuant to the Company’s Omnibus Incentive Plan dated for reference, August 28, 2023. The RSUs vest on June 21, 2025, and have a restriction period ending on June 21, 2027.
On Behalf of The Board of Directors
~Ranjeet Sundher~
Ranjeet Sundher
Chief Executive Officer & Director
Tactical Resources Corp.
www.tacticalresources.com
About the Peak Project
The Peak project is located 68 miles southeast of El Paso Texas and two miles southeast of the Round Top Rare Earth Element (REE) project owned by Texas Minerals Resources Corporation/USA Rare Earth (20/80% ownership split). Tactical Resources is party to an agreement with the Sierra Blanca Quarry (SBQ) that allows, for a fee, access to and a right of first purchase option to tailings material naturally enriched with REEs on the Sierra Blanca property, in addition to acquisition optionality of the broader all-encompassing SBQ mining lease including the quarry operations.
About Tactical Resources Corp. (TSXV: RARE) (OTC: USREF)
Tactical Resources is a mineral exploration and development company focused on rare earth elements based in Vancouver, British Columbia and the Peak Project in western Texas. The Company is also actively involved in the development of innovative metallurgical processing techniques to further unlock REE development potential. Find out more at: www.tacticalresources.com
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transactions and has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION
Tactical Resources Corp.
Investor Relations
Email: investors@tacticalresources.com
Telephone: +1 (778) 588-5483
Matt Chatterton, Director Tel: +1 (778) 613-2068
Email: info@tacticalresources.com
Media Inquiries media@tacticalresources.com
FORWARD LOOKING STATEMENTS
This release contains “forward-looking statements” within the meaning of applicable Canadian securities legislation, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion, growth of the Company’s businesses, operations, plans and with respect to exploration results, the timing and success of exploration activities generally, permitting time lines, government regulation of exploration and mining operations, environmental risks, title disputes or claims, limitations on insurance coverage, timing and possible outcome of any pending litigation and timing and results of future resource estimates or future economic studies.
Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “planning”, “planned”, “expects” or “looking forward”, “does not expect”, “continues”, “scheduled”, “estimates”, “forecasts”, “intends”, “potential”, “anticipates”, “does not anticipate”, or “belief”, or describes a “goal”, or variation of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.
Forward-looking statements are based on a number of material factors and assumptions, including, the result of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen break downs, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of rare earth metals; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company’s publicly filed documents. Although Tactical Resources has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward- looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward- looking statements.
