MONTREAL, Canada, May 22, 2013 /PRNewswire/ -- Solo International, Inc. (OTC: SLIO) ("Solo International" or "the Company"), wishes to confirm the confirmation of transfer of title of its two mineral claims to the Company's wholly-owned subsidiary 9242-4768 Quebec Inc.
On November 15, 2011, the Company through its wholly-owned Quebec subsidiary, 9252-4768 Quebec Inc., entered into a Property Option Agreement with 9228-6202 Quebec Inc., a Quebec corporation . On, November 27, 2012, the Company's wholly-owned subsidiary, 9252-4768 Quebec Inc., entered into a second addendum to the original property option agreement whereby the parties acknowledged that 9252-4768 Quebec Inc. had earned its 100% right, title and interest in and to certain mineral claims, located in Portland Township, Outaouais, Quebec. The Company then proceeded to request the transfer of title.
The following information is taken from a claim list at the MRN, for 2013.
Claim numbers: CDC2261871 expiring on November 28, 2014, and CDC2318741 expiring on October 15, 2018, each claim covering 59.97 hectares and both held in the name of 9252-4768 Quebec Inc. as to 100% interest in each claim
The Quebec rare earth element property is located 3.6 kilometers North-East of Notre-Dame-de-La-Salette in Portland Township. The property is made up of 2 claims of regular shape with a total surface 119.94 hectares. The Company is awaiting receipt of its NI43-101 report and expects to undertake further exploration on the property this summer.
"We are delighted to have confirmation of the transfer of title of our mining claims. With the expected 43-101 report and confirmation as to title, we hope to raise additional funding for the Company which will allow us to undertake ongoing exploration on the property during this summer. According to an article published by Elliot Brennan, editor and project coordinator of research in resource security at the Institute for Security and Development Policy, Stockholm, Sweden, « rare earths look likely to become the next crucial strategic resource, the next oil. » The Company is aware that costs will need to be brought down for production in North America. However, we believe that the discovery of rare earth elements on our mining claims, while they may face challenges for costs of production, will be a hold for the future as supplies deplete in China, which currently produces 90% of the world's rare earth elements.'' says Michel Plante, Chief Executive Officer and Director.
About Solo International, Inc
Solo International is an exploration and development mining company with a focus on deposits of rare earth metals and rare earth elements (REEs). 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 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.'s 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.