BER BE Resources Inc.

BE Resources Inc. (TSX VENTURE:BER) ("BE" or the "Company") announced that the
Company has completed the review of its overall strategy, assets and operations,
which was initiated with the appointment of two new directors on August 24, 2011
and changes to the management team announced on August 25, 2011.


The conclusion of the board is that it will cease exploration work on its New
Mexico properties and place the Warm Springs project on care and maintenance.
The Company's focus will turn to acquiring an interest in more traditional
precious and base metal exploration properties. The Company has been examining a
number of opportunities in DRC, Bolivia, British Columbia, Mexico and Quebec and
has entered into a memorandum of understanding respecting four mining
concessions in Bolivia where the target minerals are gold, palladium and
platinum, under which memorandum of understanding the Company has 90 days to
conduct due diligence.


This change in focus is based on a number of important factors including a
comparison of the Company's drilling results to date at its Warm Springs project
to the cut-off grades for seven rare earth projects and one beryllium project
that P&E Mining Consultants Inc., a technical advisor to the Company, has
selected for benchmarking purposes. The average TREO for drill hole numbers 1,
2, 3, 10, 11, 12, 14, 15, 16, 17 and 19 as calculated by P&E are well below the
TREO cut-off grades at the benchmarking projects (the latter being 1.12%), and
the average BeO grades for the same eleven holes, plus drill hole numbers 4 and
5, are also well below the BeO cut-off grades at the benchmarking project (the
latter being 0.06%). Cut-off grades represent break-even on an operating cost
basis, without taking into consideration capital costs. Additional factors
include high permitting costs to date and drilling costs to date which have been
high due to extensive monitoring obligations imposed at Warm Springs by the New
Mexico Mining and Minerals Division. The Company has therefore decided to
conserve cash and seek out other projects. 


The Company is pleased to announce that Mani Verma P.Eng. has agreed to join the
board of directors of the Company. His appointment is effective immediately,
subject to the approval of the TSX Venture Exchange. Mr. Verma is one of the
founders of Micon International Limited, mineral industry consultants. He brings
to the board over 35 years experience as a mining engineer, working with both
mining companies and major consulting firms. Mr. Verma is a Professional
Engineer in Ontario, Canada. Mike Swedak, a recent appointee to the board, has
for personal reasons resigned from the board. 


Eugene Puritch, P. Eng. of P&E, a Qualifed Person (as defined under National
Instrument 43-101), has verified the data relating to the Company disclosed in,
and approved the technical contents of, this news release. 


Cautionary Statements

Certain statements contained in this news release may contain forward-looking
information within the meaning of United States and Canadian securities laws.
Such forward-looking information is identified by words such as "estimates",
"intends", "plans", "expects", "believes", "may" and "will" and include, without
limitation, the statement that the Company's focus will turn to acquiring an
interest in more traditional precious and base metal exploration properties.
There can be no assurance that such statements will prove to be accurate; actual
results and future events could differ materially from such statements. Factors
that could cause actual results to differ materially include, among others,
uncertainties as to metal prices, the state of the capital markets, the global
economy, regulatory requirements and an inability on the part of the Company to
raise the funds necessary to carry out its objectives. Reference is also made to
the risk factors contained in the Company's annual report on Form 10-K for the
year ended December 31, 2010. Most of these factors are outside the control of
the Company. Investors are cautioned not to put undue reliance on
forward-looking information. Except as otherwise required by applicable
securities statutes or regulation, the Company expressly disclaims any intent or
obligation to update publicly forward-looking information, whether as a result
of new information, future events or otherwise.

BE Resources Inc. (TSXV:BER)
Historical Stock Chart
From Jun 2024 to Jul 2024

BE Resources Inc. (TSXV:BER)
Historical Stock Chart
From Jul 2023 to Jul 2024