Robert Mackay, President and CEO of Stans Energy Corp. (TSX-V: HRE, OTCQX: HREEF), (“Stans” or the “Company”), confirms that the Licence Agreement extension that the Company has reported on June 18, 2012 was unanimously ratified by the 14 expert member Licensing Committee of the State Geological Agency of Kyrgyz Republic (KR).
Recent reports emanating from various sources in Kyrgyzstan of the Company’s failure to comply with elements, as defined in our Licences, are not accurate and in certain cases, blatantly false. Management will continue to deploy all the resources at our disposal to dispel rumours and innuendo from public discourse and if need be, to take legal action against any slanderous comments.
The Licence Agreement process reviewed the works done to date that Stans Energy has implemented to further the progress towards production at Kutessay II and its required infrastructure. A detailed plan was submitted to the Kyrgyz authorities as per the conditions of the past Licence Agreement, which was then audited and evaluated by the 14 experts of the Licencing Committee at the Kyrgyz State Geological Agency. The final decision to sign the new Licensing Agreement #3 was based on these evaluations, and is the basis for the framework that Stans is eager to negotiate in order to establish a public-private partnership and bring Kutessay II back to full production.
“We have always worked within the laws of Kyrgyzstan, and we are meticulous in our adherence to the rules and guidelines set out within our licence agreements. We believe in the people of Kyrgyzstan and the potential of the country. Proof of this statement lays in the fact that we have invested 7 years of our time and over $18,000,000 Canadian dollars (over 800,000,000 Kyrgyzstani Soms) of our shareholders’ money in Kyrgyzstan. With the help of the Kyrgyz government, Stans Energy has the opportunity to become an international leader in the development of heavy rare earths and possibly the development of downstream heavy rare earth products for high tech industries. This business will employ hundreds of Kyrgyz citizens and develop professional skills needed to continue Kyrgyzstan’s progress as a nation,” states Robert Mackay. “Furthermore, I want to assure our shareholders that we will use every resource at our disposal to defend your rights, as the legal owners of the Kutessay II mine and Kashka HRE Processing facility, should any source attempt to attack the integrity of Stans Energy.
“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
About Stans Energy
Stans Energy Corp. is a resource development company focused on progressing Heavy Rare Earth (HRE) properties in areas of the Former Soviet Union. In December 2009, Stans acquired a 20-year mining license for the past-producing Kutessay II rare earth mine from the Kyrgyz Republic. On May 26, 2011 Stans completed the purchase of the Kashka Rare Earth Processing Plant (KRP) the same plant that previously refined REEs historically from Kutessay II. The KRP was the only hard rock plant to produce all rare earth elements outside of China, producing 120 different metals, alloys, and oxides. For over 30 years, Kutessay II produced 80% of the rare earth metals for the former Soviet Union.
We seek safe harbour.
President & CEO
Manager, Investor Relations
FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, use of proceeds from the Offering, the completion of the Offering, the continued advancement of the company’s general business development, research development and the company’s development of mineral exploration projects. When used in this press release , the words “will”, “shall”, “anticipate”, “believe”, “estimate”, “expect”, “intent”, “may”, “project”, “plan”, “should” and similar expressions may identify forward-looking statements. Although Stans Energy Corp. believes that their expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statement. Important factors that could cause actual results to differ from these forward-looking statements include the potential that fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators.