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Attention Business Editors
Medallion to Focus on Lithium & Rare Earths
TSX.V: MDL
VANCOUVER, Sept. 24 /CNW/ - Medallion Resources Ltd ("Medallion" - TSX.V:
MDL) announces that it has changed its focus to the exploration for lithium,
rare-earth elements (REE's) and related energy-technology metals. Medallion is
presently negotiating to acquire significant properties that contain these
commodities, which are critically important to new technologies found in
transportation, energy storage and energy production.
Increasing commitments to energy conservation and the environment are
fuelling intense interest in lithium and the REE's. Medallion's president and
CEO, Dr. William H. Bird, has significant experience in the geology,
mineralogy and chemistry of these important commodities. Bird was formerly the
President and CEO of Rare Element Resources Ltd. (TSXV:RES), where he
developed a practical knowledge of the exploration, extraction and marketing
of rare-earth and related elements. Dr. Bird remains closely associated with
Rare Element Resources as a member of its Advisory Board.
"We believe there is a major opportunity in the exploration and
development of lithium and REE properties," said Dr. Bird. "It's exciting to
focus again on these elements at a time when the financial markets and the
general public are beginning to realize their incredible value. The
exploration for larger deposits of these elements is at an early stage; but,
as it happened with gold mining 25 years ago, an exploration breakthrough
could soon be realized. It will likely result from both the discovery of huge
bulk-mining sources and new technologies to process them. Medallion is
determined to get involved early and to take part in the breakthroughs."
Lithium and REE markets are driven by new high-volume uses in
energy-efficient consumer and industrial products. There are approximately 20
kilograms of REE's in a hybrid car's batteries, motors and generators. New
high-tech wind generators each use about 250 kilograms of REE's. The potential
for the new lightweight lithium electric-car battery is fuelling the rush for
new lithium sources. This increasing demand for lithium is expected to dwarf
past markets for the metal. New energy-efficient technologies, such as those
found in already-operational magnetic heating, air-conditioning and
refrigeration equipment, will further drive major markets for the REE's.
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ON BEHALF OF THE BOARD OF DIRECTORS
"William H Bird", PhD, PGeo, President & CEO
>>
Company Management, which takes full responsibility for content, prepared
this news release. The TSX Venture Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of this release. Some of
the statements contained in this release are forward-looking statements, such
as estimates and statements that describe the Company's future exploration and
financing plans, objectives or goals, including words to the effect that the
Company or management expects a stated condition or result to occur. Since
forward-looking statements address future events and conditions, by their very
nature, they involve inherent risks and uncertainties. Actual results in each
case could differ materially from those currently anticipated in these
statements. Such risks include expectations that may be raised by discussing
potential acquisitions. Also, in order to proceed with the Company's
exploration plans, additional funding is necessary and, depending on market
conditions, this funding may not be forthcoming on a schedule or on terms that
facilitate the Company's plans.
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/For further information: check Medallion's web site
www.medallionresources.com, Call (888) 827-6611 or e-mail
williambird@medallionresources.com/
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