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Energy Ventures subsidiary sells Swedish exploration project to Tasman Metals

Energy Ventures' (ASX: EVE) 50% owned subsidiary Norrsken Energy Limited has agreed to sell its Olserum REE‐U project in Sweden to Tasmet AB, a wholly owned subsidiary of Tasman Metals (CVE: TSM).

The all script deal involves transfer of the Olserum REE‐U project, including the Olserum nr 2 exploration permit, from Norrsken to Tasmet in exchange for 37,746 shares in Tasman, subject to regulatory approval.

Under the executed Sale and Purchase Agreement the asset and associated exploration data will be transferred to Tasmet subject to the Swedish Mining Inspectorate (Bergsstaten) granting permission.

Tasman also requires approval from the TSX Venture Exchange for the issuance of shares.

The shares in Tasman will be subject to a statutory escrow period of four months from the date of issue.

Norrsken Energy is a UK incorporated joint venture company formed in 2008 between Energy Ventures and Swedish mineral company IGE Nordic AB (now Nickel Mountain Resources AB, to evaluate early stage uranium exploration targets in Sweden. Energy Ventures is the manager of the joint venture company.