Jet Metal Terminates Moran Lake Agreement
5:34 pm ET
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov 1, 2013) - Jet Metal Corp. (JET.TO)(OTCQB:JETMF) (the "Company" or "Jet Metal") announces that it has exercised its right to abandon those mineral claims that form the Moran Lake Property, located in Newfoundland and Labrador, Canada, and are the subject of the Moran Lake Co-ownership Agreement (the "Agreement") dated December 5, 2011, between the Company and Lewis Murphy. As all the mineral claims that are the subject of the Agreement have been abandoned, the Company has also terminated the Agreement and is discharged from any further obligations with respect to the Agreement. The Company retains 100% ownership, subject to certain third party obligations, of 924 mineral claims that constitute its CMB Uranium/Vanadium project in Newfoundland and Labrador. This land package includes the Two Time Zone, which has an Indicated uranium resource estimate of 2.33 M lbs (1.82 M tonnes @ 0.058% U3O8) and an Inferred uranium resource estimate of 3.73 M lbs (3.16 M tonnes @ 0.053% U3O8).
Stewart Wallis, P.Geo., a Director of Jet Metal and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this news release.
About Jet Metal Corp.
The Company is a uranium and vanadium explorer and developer with projects across North America. In addition to its CMB project, the Company holds a majority interest and is the operator of the Bootheel Project in Wyoming, USA, which has the potential to be mined using in-situ recovery methods. The Jet Metal team is composed of knowledgeable and experienced professionals with global experience in exploration, mining and corporate finance that are committed to operating in an environmentally responsible manner.
Additional information about the CMB Uranium-Vanadium Project can be found in the technical reports filed on SEDAR at www.sedar.com entitled: "Technical Report on the CMBNW Property, Newfoundland & Labrador, Canada" prepared for Jet Metal (formerly Crosshair Exploration and Mining) and Silver Spruce Resources dated June 22, 2009.
For more information on Jet Metal and its properties, please visit the website www.jetmetalcorp.com.
ON BEHALF OF THE BOARD
"Jim Crawford", President & CEO
It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong.
~ Thomas Sowell
