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DIT

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Share Name Share Symbol Market Type
TSXV:DIT TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Ditem Signs LOI for Otish Rare Earth Property

13/01/2011 1:48pm

Marketwired Canada


Ditem Explorations (TSX VENTURE:DIT) is pleased to announce that it has signed a
Letter of Intent (LOI) to earn a 100% interest in the Lac Henri property
situated approximately 350 km northeast of Chibougamau in the Otish Mountain
region of Quebec. The LOI, subject to regulatory approvals, confirms the
transfer of all rights, title and interests in the Lac Henri claims to Ditem
Explorations. 


Ditem Explorations shall pay $10,000, issue 100,000 common shares of Ditem
Explorations and grant a 2% NSR to the seller. At the date of the next permit
renewal in February 2013, Ditem Explorations shall have the option to either
deliver an additional 200,000 common shares to the seller in order to maintain
its interest in the property or return a 100% interest in the property to the
seller. 


The property consists of 65 claim cells covering a total area of 3,435 hectares.
The southern border of the property is situated approximately two kilometres
outside the western edge of the Otish Proterozoic Sedimentary basin. Recent
prospecting programs and subsequent laboratory analysis of outcrop samples taken
from the north-eastern area of the property revealed significant values in rare
earth elements associated with Archean granitic gneiss and altered
quartz-feldspar-biotite zone.


Ditem Explorations is a uranium exploration and development company with
properties in the Athabasca Basin in Saskatchewan (Beartooth Island and Cree
Lake) and the Otish Basin (Otish Uranium Property) in Quebec, where a drill
program announced in December 2010 is being completed and the preliminary
results will be made known shortly. Properties and general information may be
viewed on the Company's website at www.ditem.com. 


Mr. Mario Joly (M.Sc), President of Ditem Explorations is the Qualified Person
(as that term is defined in National Instrument 43-101) who has reviewed this
news release and is responsible for the technical information reported herein.


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