TORONTO, Aug. 19, 2010 (GLOBE NEWSWIRE) -- Dr. Nataliya Hearn, CEO of American Rare Earths and Materials, Corp. (OTCBB:AREM) (the "Company"), does not believe Afghanistan's $1 trillion in untapped mineral deposits can significantly alter the U.S. and North American immediate shortfall in Rare Earth metals. The discovery, recently reported in The New York Times (http://www.nytimes.com/2010/06/14/world/asia/14minerals.html), "could be a generation away from producing the Rare Earth metals we need to remain competitive in industries like aerospace, transportation and shipping," said Dr. Hearn.
"Rare Earth metals are difficult to extract even in a country with a sophisticated mining infrastructure. In a nation such as Afghanistan, with a gross domestic produce of only $12 billion, there is no such structure and no ability to create one in the near future.
"American Rare Earths and Materials, Corp. is the one company," Dr. Hearn continued, "dedicated to producing the best, most reliable source of Rare Earth metals for North American industry."
"We must also remember," Dr. Hearn stated, "that we cannot control our future with China controlling nearly 100 percent of all Rare Earths. We need our own supply. And I remain committed to helping North American obtain, mine and produce all that we need."
Dr. Hearn concluded, "We will soon be announcing a series of strategic Rare Earth metals partnerships in North America that will help the U.S. get closer to achieving its goal of self-reliance in this critical mineral category."
About Us
American Rare Earths and Materials (OTCBB:AREM) is a leader in commercializing Rare Earth metals and quickly delivering revolutionary new products to consumer and industrial markets. The company is focused on low-risk, high-return, high-demand industries that use Rare Earth metals including aerospace, alternative energy, automotive, power transmission, shipbuilding, and transportation as well as selected consumer markets (sporting goods equipment). The company also develops advanced chemicals and materials. American Rare Earths and Materials is committed to becoming American's best and most reliable source for Rare Earth metals and advanced chemicals and materials and to fully leverage the global mega-trends in these categories. For more information, visit www.americanrare.com.
Forward-Looking Statements
Statements in this press release, other than statements of historical information, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from those projected or suggested due to certain risks and uncertainties, some of which are described below. Such forward-looking statements include comments regarding the future growth of the Company, expansion into the Rare Earths and metals market, and our ability to successfully develop, commercialize and distribute such products. There can be no assurance that future developments affecting the Company will be those anticipated by management. We undertake no obligation to publicly release revisions to these forward-looking statements to reflect future events or circumstances or reflect the occurrence of unanticipated events.
Additional information concerning certain risks and uncertainties that could cause actual results to differ materially from that projected or suggested is contained in the Company's filings with the Securities and Exchange Commission (SEC) over the past 12 months, copies of which are available from the SEC or may be obtained upon request from the Company.