News Column

Emerging Uranium and Rare Earth Developer Achieves Major Resource Increase (Video Interview)

Jun 12 2013 12:00AM

Marketwire

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TORONTO, ONTARIO -- (Marketwired) -- 06/12/13 -- Editors Note: There is a video associated with this press release.

Al Shefsky, President and CEO of Pele Mountain Resources Inc. ('Pele'), (TSX VENTURE: GEM)(OTCQX: GOLDF) in an interview with Tracy Weslosky, Publisher of InvestorIntel.com starts: "We just put out a major increase in our 43-101 resources. It's an exciting new development; the project just gets better and better."

The interview was in response to the news release out earlier this week titled: Pele Mountain Announces Major Increase in Uranium and Rare Earth Resources at Eco Ridge on the updated Resource Estimate for Pele's Eco Ridge Mine Project in Elliot Lake, Ontario, Canada.

InvestorIntel Highlights:

- New Resource estimate boosts Pele shareholders' exposure to uranium, critical rare earths, and scandium

- Recent research from JP Morgan forecasts an increase in the price of U3O8 to $90 per pound in 2016

- Pele shares have historically responded favorably to increases in the price of uranium (see attached chart)

About Pele: Pele Mountain Resources (pelemountain.com) is focused on the sustainable development of its 100-percent owned Eco Ridge Mine Rare Earth and Uranium Project. Eco Ridge is located in Elliot Lake, the former "uranium mining capital of the world" and the only Canadian mining camp to have ever achieved commercial rare earth production.

About InvestorIntel: InvestorIntel (InvestorIntel.com) is a comprehensive source of investment intelligence for the global resource, energy and technology sectors. Through editorial independence, InvestorIntel provides an online media source of non-partisan, non-biased articles, opinions and videos written and produced by an international caliber team of professional writers, editors, analysts and industry experts.

Disclaimer: Pele Mountain Resources Inc. is an advertorial member of InvestorIntel, which is owned by ProEdge Media Corp.

To view the associated video, please visit the following link: http://youtu.be/og2BaxRZvTs.



Contacts:
ProEdge Media Corp.
Sue Glover
Business Development
+1 416-581-0177 x106
Sue@ProEdgeWire.com





Source: Marketwire