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RARE EARTH METALS CORP ANNOUNCES CHANGE OF NAME TO VMS
VENTURES INC.
Vancouver, British Columbia, Canada. January 17, 2007. Rare Earth
Metals Corp. (REM – TSX-V) is pleased to announce that at 6:30 a.m., Pacific
Coast Time, on Thursday, January, 18, 2007 Rare Earth Metals Corp. will begin
trading on the TSX Venture Exchange as VMS Ventures Inc. (the Company) with the
new trading symbol VMS. The new CUSIP Number is 91828R109 and the new ISIN
number is CA91828R1091. The share capital of the Company is unchanged.
Over the past two years the Company has carefully assembled a portfolio of base
metal properties in the prolific Snow Lake portion of the Flin Flon-Snow Lake
Greenstone Belt in mining-friendly Manitoba. This belt is renowned for its
volcanogenic massive sulphide (VMS) deposits. It has hosted more than 20
deposits which produced over $29 billion worth of ore. The average deposit is
approximately 5 million tonnes in size and has a gross metal value of
approximately $1 billion.
VMS Ventures Inc is now the second largest landholder in the Belt and intends to
carry out an aggressive exploration program using VTEM airborne technology and
sophisticated geochemistry methodologies to generate specific drill targets on a
schedule planned to begin this spring. The infrastructure provided by HudBay
Mineral’s (HBM-TSX) operations in nearby Snow Lake provides an economic
advantage for discoveries in the region.
Dr. George Gale, VP of Exploration, states “VMS deposits are a common source of
copper, zinc, gold and silver in Canada. The origin and nature of VMS deposits
are quite well understood. These deposits commonly form on the bottom of oceans
and tend to occur as clusters of deposits with small (20m to 40 km diameter)
basins and form throughout geologic time and range in age from about 3 billion
years to those that are still forming on the bottom of oceans today. When the
ancient basins are folded during mountain building processes, sections of the
old ocean floor and their deposits end up in vertically dipping rocks. The
favourable rock units can be very narrow and traced for kms along strike and are
referred to as a Time-Space-Horizon (TSH).”
VMS Ventures Inc. has identified properties overlying these TSH structures and
constructed its land package accordingly by optioning properties and staking
blocks of claims and mineral exploration licenses. To date the Company has over
70 claims covering over 100 square kilometers and has recently added four
substantial Exploration Licenses, all in the Snow Lake region.
The company’s new website is www.vmsventures.com and it provides greater detail
on the search for Manitoba’s next VMS deposit. VMS Ventures Inc. also retains
its “historic” REM projects, all in Manitoba: South Bay (Nickel), Lynn Gabbros
(Nickel) and Eden Lake (REE-Uranium).
ON BEHALF OF THE BOARD OF DIRECTORS
Rick Mark, CEO and Chair,
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For further
information, Phone (604) 986-2020 or Toll Free
866 816 0118
or visit our website
www.vmsventures.com
The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of this news release
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