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Provides Update on Eco Ridge Uranium Resources

Publié le 31 janvier 2017

Pele Mountain Provides Update on

Eco Ridge Uranium Resources

and Progress at its Energy and Rare Earth Processing Projects

January 31, 2017 � Toronto � Pele Mountain Resources Inc. (TSX VENTURE: GEM) (�Pele� or the �Company�) today provided an update on NI 43-101 uranium resources at its 100-percent owned Eco Ridge Project (�Eco Ridge�) and on the status of its energy and rare earth processing projects.

Pele President Al Shefsky stated, �Although the uranium price remains too low to support development at our flagship Eco Ridge project, we are encouraged by its recent uptick and the corresponding strong increase in investor interest in uranium exploration and development companies. Pele shares provided outstanding leverage to uranium in past rallies, most notably in 2007 and 2011, because of the extensive uranium resources at Eco Ridge, and we have achieved a major increase and upgrade in uranium resources since that time.. The NI 43�101 mineral resources at Eco Ridge continue to provide Pele investors with exposure and leverage to uranium.�