TANTALEX Resources Corporation ("TANTALEX" or the "Corporation"), is extremely pleased to announce that it has signed a definitive joint-venture agreement with La Congolaise d'Exploitation Minière SA ("COMINIÈRE SA"), a private company in which 90% of the share capital is state-owned by the Democratic Republic of Congo ("DRC"), and 10% is owned by L'Institut National de Sécurité Sociale du Congo, DRC's largest Social Security and Pension fund. The joint-venture entity will be named United Cominière sas ("UNITED COMINIÈRE").
Dave Gagnon, Chief Executive Officer of TANTALEX explains, "Signing a joint-venture agreement with COMINIÈRE SA is an important step forward for our Company. The fact that this almost entirely state-owned entity has agreed to offer a public company a 70% stake in a joint-venture speaks volumes about how we have grown Tantalex's reputation within the region as trustworthy, ethical, and socially responsible."
The purpose of this union is to explore for, develop, and to put into production high-tech mineral deposits that may exist on the properties belonging to UNITED COMINIÈRE.
Mr. Gagnon continues, "This joint-venture exposes Tantalex exclusively to a significant land package within the region of Katanga, a region that is mining friendly, and in which we are already very familiar. What's more is that the land package shows evidence of mineralization of some very important high-tech minerals. Not only can this opportunity help us to diversify our assets, it brings us one step closer to our goal of being a major player in the sector of high-tech minerals, where only a few players currently exist."
The Company is currently working on its work program budget for the remainder of the year, and expects to provide a work program update within the next few weeks.