Rare Earth Minerals PLC : REM increases its holding in Bacanora Minerals Ltd

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10 January 2014

Rare Earth Minerals plc

("Rare Earth Minerals", "REM" or "the Company")

REM increases its holding in Bacanora Minerals Ltd.

Rare Earth Minerals (AIM: REM) announces that it has increased its shareholding in Bacanora Minerals Limited ("Bacanora") to 3.17% of their issued shares through further market purchases totalling approximately £172,000.

Bacanora is a TSX-V listed company exploring for and developing industrial mineral resources in Mexico with a primary focus on Lithium and Borates. It is the joint venture partner of REM in the Fleur-El Sauz Lithium project (the "Joint Venture"). REM now has an interest of approximately 3.17% in the issued share capital of Bacanora acquired at a cost of approximately £591,000. This interest, when aggregated with REM's 30% direct interest in the Joint Venture, results in a total economic interest in the Joint Venture of approximately 32.2%.

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For further information please contact: 

Rare Earth Minerals plc                                                              [phone]

David Lenigas

Kiran Morzaria

WH Ireland Limited (NOMAD & Joint Broker)                            [phone]

James Joyce

Nick Field

XCAP Securities plc (Joint Broker)                                           [phone]

Guy Peters

Jon Belliss

Square1 Consulting

David Bick                                                                                  [phone]

Mark Longson

This information is provided by RNS

The company news service from the London Stock Exchange

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