MONTREAL, Feb. 6, 2012 /PRNewswire/ -- Solo International, Inc. (OTC:SLIO "Solo International" or the "Company"), a development stage exploration and mining company focused on rare earth metals and rare earth elements ("REE"), is pleased to announce that the Company has now expanded its Quebec REE project with the addition of approximately 60 hectares directly adjacent to the Company's Philadelphia Prospect.
Michel Plante, President and CEO of Solo International, commented, "I am very happy to have completed the acquisition for this additional property adjacent to our Philadelphia REE Prospect." Mr. Plante added, "This acquisition completes another step in our acquisition and exploration plan to develop asset diversity."
The Philadelphia Prospect is located approximately 4 km NE of Notre-Dame-De-La-Salette, Quebec and consists of an approximately 60 hectare claim without any exploration restrictions. Philadelphia is a past apatite (phosphor) producer. Apatite and REE are associated with and often concentrated in carbonatites and associated alkaline rocks. The primary use of apatite is in the manufacture of fertilizer, since it is a source of phosphorus. Apatite is occasionally found to contain significant amounts of REE and can be used as an ore for those metals since apatite is non-radioactive.
REEs are strategically important and necessary for the manufacture of, for example, electronics components, motors, glass and automobiles, and as alloying materials in steelmaking.
China accounts for 97% of the global production of REEs, and there may be an impending shortage.
About Solo International, Inc.
Solo International is a development and exploration stage mining company with a focus on deposits of rare earth metals and rare earth elements. The Company is focused on the acquisition, exploration, production, development and potentially the operation of mining properties in strategic bulk mineable industrial metals (such as REEs, Titanium and Phosphates) sectors of eastern Canada. All of the Company's properties are currently at the exploration stage and located in Quebec. For further information please visit the Company's website at www.solointernationalinc.com
This release contains forward-looking statements that reflect Solo International, Inc. plans and expectations. In this press release and related comments by Company management, words like "expect," "anticipate," "estimate," "forecast," "objective," "plan," "goal" and similar expressions are used to identify forward-looking statements, representing management's current judgment and expectations about possible future events. Management believes these forward-looking statements and the judgments upon which they are based to be reasonable, but they are not guarantees of future performance and involve numerous known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements.
SOURCE Solo International, Inc.