Critical Elements and Blue Note Extend Completion of Croinor Acquisition
Published : June 01, 2011
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Keywords :   Canada | Gold | Lithium | Market | Niobium |

MONTREAL, QUEBEC--(Marketwire - June 1, 2011) - Critical Elements Corporation (News - Market indicators)(OTCQX:CRECF)(FRANKFURT:F12) ("Critical Elements") and Blue Note Mining Inc. (TSX VENTURE:BNT) ("Blue Note") report that they have agreed to extend the term of the binding agreement announced on July 19, 2010 (the "Agreement") providing for the acquisition by Blue Note of all of Critical Elements' interests in the Croinor gold project located near Val-d'Or, Quebec. 

Under the terms of the Agreement, Blue Note has already made cash payments totaling $135,000 to Critical Elements and, in consideration of additional monthly payments of $10,000, Blue Note now has until December 31, 2011, or such other later date as mutually agreed by Blue Note and Critical Elements, to make a final payment of $2,250,000 to complete the transaction. In addition, Blue Note shall issue 17.5 million common shares to be held in escrow, for release at a rate of 500,000 shares per month over 35 months from the date of closing. The transaction includes Critical Elements' 71% ownership in the Matchi-Manitou property.

About Critical Elements Corporation

Critical Elements is actively developing its 100%-owned Rose lithium-tantalum flagship project located in Quebec. The project hosts a current Indicated resource of 11.4 million tonnes of 1.34% Li2O and 165 ppm Ta2O5 and Inferred resource of 2.1 million tonnes of 1.27% Li2O and 138 ppm Ta2O5.

Critical Elements has commissioned a prefeasibility study for the project from Genivar, one of the largest independent engineering firms in Canada. Genivar is also doing an environmental study, and Acme Metallurgical Ltd. of Vancouver is carrying out project metallurgy.

Critical Elements' portfolio also includes rare-earth and tantalum-niobium projects in the Rocky Mountains of British Columbia and in Quebec, as well as a 50% interest in the Croinor project, which is located in Quebec and contains a measured and indicated resource of 814,228 tonnes at 9.11 g/t Au, for 238,414 ounces of gold at a 5 g/t cut-off.

About Blue Note Mining

Blue Note Mining is a mineral exploration and mining company headquartered in Montreal with properties located in known gold regions of Canada, including the prolific Val-d'Or region of Quebec and northern New Brunswick.

Forward-Looking Statements

This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products, technical uncertainties associated with operating an underground mine and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Critical Elements shareholders, please contact:
Jean-Sebastien Lavallee, P.Geo
President & CEO
819-354-5146
president@cecorp.ca
www.cecorp.ca
or
Relations publiques Paradox
514 341-0408
or
Blue Note shareholders, please contact:
Jean Mayer
Executive Vice President
(800) 937-3095 x 236
jmayer@bluenotemining.ca
www.bluenotemining.ca
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Critical Elements Corporation

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CODE : CRE.V
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Contact Cpy

Critical Elements is a gold exploration company based in Canada.

Critical Elements holds various exploration projects in Canada.

Its main exploration properties are MATCHI-MANITOU, ROSE (LAC PIVERT), CROINOR, GATINEAU, LAC SAVIGNY NE and MELASSE in Canada.

Critical Elements is listed in Canada. Its market capitalisation is CA$ 57.0 millions as of today (US$ 42.0 millions, € 37.7 millions).

Its stock quote reached its lowest recent point on August 14, 2009 at CA$ 0.07, and its highest recent level on February 10, 2023 at CA$ 3.03.

Critical Elements has 148 030 000 shares outstanding.

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Annual reports of Critical Elements Corporation
Annual Report 2007
Financings of Critical Elements Corporation
2/21/2013Arranges Non-Brokered Private Placement
4/1/2011ANNOUNCES FINAL CLOSING OF ITS FINANCING
3/4/2011Reports a Partial Closing of its Financing
6/12/2008arranging non-brokered private placements for up of $1,750,0...
Nominations of Critical Elements Corporation
12/1/2010Appointment of Michel Robert and Jean Rainville as directors...
2/15/2008announce the appointment of Mr. Patrick Bradley
Project news of Critical Elements Corporation
6/9/2011INTERSECTS 1.29% LI20 AND 275 PPM TA2O5 OVER 5.90 METRES NEA...
5/26/2011(Rose (lac Pivert))INTERSECTS 1.64% LI20 AND 226 PPM TA2O5 OVER 9.20 METRES NEA...
4/28/2011(Rose (lac Pivert))INTERSECTS UP TO 1.60% LI2O, 427 PPM TA2O5, 749 PPM BEO, 5,1...
3/20/2011(Rose (lac Pivert))Discovers a New Zone in Drilling on the Rose Deposit
2/22/2011(J6l1)Acquires Eight Rare Earth and Tantalum-Niobium Projects
2/9/2011(Rose (lac Pivert))Drilling Leads to New Tantalum Discovery on Pivert/Rose
2/2/2011(Rose (lac Pivert))Pre-Feasibility Study Underway for the Rose Deposit
6/3/2010(Rose (lac Pivert))Intersects 1.24% Li2O, 3,532 g/t Rubidium, 208 ppm Ta2O5, 16...
3/27/2008(Croinor)Start a Follow-Up Diamond Drill Program at Croinor
1/24/2008(Croinor)RESOURCE ESTIMATE ON CROINOR
Corporate news of Critical Elements Corporation
8/8/2016Discovery of a pegmatite traced over more than 700 metres on...
8/8/2016Discovery of a pegmatite traced over more than 700 metres on...
8/8/2016Discovery of a pegmatite traced over more than 700 metres on...
8/1/2016Quarterly Activities Report - 30 June 2016
8/1/2016Activities Report to 30 June 2016
7/6/20162016-07-06 Critical Elements (TSXV: CRE) and Natan (TSXV: NR...
7/6/20162016-07-06 Critical Elements (TSXV: CRE) and Natan (tsxv: nr...
6/28/20162016-06-28 Critical Elements Corporation announces strategic...
6/2/20162016-06-02 Critical Elements announces closing of $6 million...
5/18/20162016-05-18 Critical Elements announces $5 million bought dea...
5/6/20162016-05-06 Lepidico exercised Lemare option
5/6/2016Lemare Option Exercised
5/2/2016Activities Report to 31 March 2016
4/28/2016CRITICAL ELEMENTS (TSXV: CRE.V) AND LOMIKO (TSXV: LMR.V) TO ...
4/28/20162016-04-28 Critical Elements (tsxv: cre) and lomiko (tsxv: l...
9/9/20152015-09-09 Critical Elements signs with strategic partner fo...
9/9/2015CORRECTION FROM SOURCE/Critical Elements Signs With Strategi...
9/8/20152015-09-08 Critical Elements signs with strategic partner fo...
9/8/2015IIROC Trading Resumption - CRE
9/8/2015Critical Elements Signs With Strategic Partner for: Off-Take...
9/3/2015IIROC Trading Halt - CRE
6/18/2015Critical Elements Corporation: Annual Meeting
6/16/2015Critical Elements Announces a Closing of $600,300
6/16/20152015-06-16 Critical Elements announces a closing of $600,300
1/16/2015Options Granted
1/16/2015Critical Elements Corporation: Options Granted
12/22/20142014-12-22 Critical Elements announces second closing of $16...
12/22/2014Critical Elements Announces Second Closing of $165,000
12/2/20142014-12-02 Critical Elements announces first closing of $300...
12/2/2014Critical Elements Announces First Closing of $300,000
10/1/2014Critical Elements Confirms the Economic Potential Value of M...
8/14/2014Critical Elements Receives Positive Material Testing Results...
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6/13/2014Critical Elements Corporation: Annual Meeting
5/14/2014Critical Elements Corporation Sends Samples of Lithium Conce...
5/13/2014Critical Elements Corporation Closes the Sale of the Croinor...
9/23/2013Reports Robust Tantalum Recoveries in Optimization Batch Tes...
9/5/2013Reports Positive Optimization Metallurgical Test Results Wit...
9/5/2013Reports Positive Optimization Metallurgical Test Results Wit...
8/6/2013Retains SGS Mineral Services in Lakefield to Complete Optimi...
4/11/2013Hires Paradox for IR
3/19/2013Announces Closing of Second Tranche of $604,000
2/12/2013Discovers Extension of JR Zone at 500 Meters West With High ...
11/12/2012Announces Pre-Development Agreement With the Grand Council o...
9/11/2012is Proud to Name Ron MacDonald as Executive Chairman and to ...
7/12/2011Initiates the Environmental Impact Assessment for the Rose T...
5/18/2011Environmental Study
3/9/2011New OTCQX Stock Symbol
2/17/2011First Gold Changes its Name to Critical Elements
4/4/2008Breaking news
3/24/2008Announce that is has started the application process for a F...
3/17/2008Increased by 50,000 the number of common shares
2/28/2008Announce the nomination of Mr. Denis Simoneau as Chairman
2/8/2008Increased by 479,550 the number of common shares
1/31/2008Announce that Mr. Eric Leboeuf has been appointed President ...
12/20/2007Breaking news
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