DGAP-News: Tantalus Rare Earths AG

DGAP-News: Tantalus Rare Earths AG: Streamlining of the management board

Tantalus Rare Earths AG / Key word(s): Change of Personnel

03.06.2016 09:34

Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer / publisher is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

Tantalus Rare Earths AG: Streamlining of the management board

Grünwald, Germany, 3 June 2016 - As previously announced the Extraordinary General Meeting of Tantalus Rare Earths AG approved the sale of all shares in Tantalum Holding (Mauritius) Limited to Apphia Minerals SOF PTE. Ltd. As part of the implementation of the corresponding resolutions the Supervisory Board of Tantalus Rare Earths AG has decided to adjust the executive board level to reflect the new organizational structure - also to relieve the company's cost base. In this respect, the Supervisory Board of Tantalus Rare Earths AG and David Rigoll mutually agreed not to renew his appointment as a member of the Management Board. Mr. Rigoll's appointment ended according to schedule as of 8 December 2015.

Furthermore, Mr. Wang Yu, who had been appointed as Chief Technology Officer of the Tantalus Group, has resigned by mutual agreement with the Supervisory Board.

The Supervisory Board thanks Mr. Rigoll and Mr. Wang Yu for their commitment and their successful work for Tantalus Rare Earths AG.

The remaining members of the executive board Thomas Hoyer (CEO), Markus Kivimäki (EVP) and Kalle Lehtonen (CFO) received new contracts which provide for a significantly reduced remuneration. They have agreed to carry out the implementation of the resolutions of the Extraordinary General Meeting and all other necessary measures on this basis.

About Tantalus Rare Earths AG Tantalus Rare Earths AG (ISIN DE000A1MMFF4) is a Germany-based company that has been engaged in the development of rare earths in Madagascar. As previously announced the Company has agreed to sell the said rare earths development project. Tantalus's shares are quoted on the 'Primärmarkt' of the Düsseldorf Stock Exchange.

For further information please contact: Thomas Hoyer, CEO, Tantalus Rare Earths AG Tel.: + 49 1512 4017229 Thomas.hoyer@tre-ag.com

Markus Kivimäki, EVP, Tantalus Rare Earths AG Tel.: +358 503495687 Markus.kivimaki@tre-ag.com

German media contact: rikutis consulting Falk v. Kriegsheim Tel.: +49 172 9837109 fvk@rikutis.de

03.06.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap.de

---------------------------------------------------------------------------