WYN DEVELOPMENTS INC. CALLED TO TRADE ON FRANKFURT STOCK EXCHANGE "SYMBOL YXE"
Vancouver, British Columbia, Canada - February 20, 2006 - Wyn Developments Inc. ("Wyn Developments" or the "Company") announces that the Company will be listed on the Frankfurt Stock Exchange under the trading symbol YXE on February 21, 2006. This will allow the company's European shareholder base to have greater access to purchasing and selling the company's shares. The Frankfurt Stock Exchange is one of the world's largest trading centers for securities, and is also the largest of the eight German stock exchanges.
ABOUT WYN DEVELOPMENTS INC.
Wyn Developments Inc.(WL:TSX) (YXE.F) (WYPDF:OTC) is a publicly traded Junior Exploration Company focused on its Northeastern British Columbia Natural Gas development projects - the Bougie Trutch and Prophet River plays, the Hearne Channel, Northwest Territories, (a Niccolite (nickel)-Cobalt Project), Blustry Mountain, British Columbia (a Gold-Silver Project), and Ferguson Lake, Nunavut (a Nickel-Copper-Platinum-Palladium-Cobalt Project).
BOUGIE TRUTCH NATURAL GAS DEVELOPMENT PROJECT
Wyn has a 15% gross working interest in 26 sections (26 square miles) in all potential gas zones from the surface to the basement. These sections contain several potential pay zones of natural gas and are best described as two development areas. One consists of the 'shallow' zones, defined as the surface to above the Slave Point formation, and the other the 'deep' zones, consisting of the top of the Slave Point formation to the basement. The Operator is a major Canadian Oil and Gas Company for the deeper gas zones and a Canadian Oil and Natural Gas Trust for the shallow zones. The Operator of the shallow gas development project has drilled 2 'Half-way zone' development wells, C-036-A/094-G-15 and A-013- B/094-G15 and issued completion notices. Further information on the results of these wells will be released in due course.
The Peace River Region is a world class, hydrocarbon-rich area where numerous proven natural gas fields have been discovered, including the Tommy Lakes Halfway (ongoing production and development), the Clarke Lake Slave Point (production), and Adsett Slave Point (production) as examples. The area continues to be a major focus of exploration and development by a number of leading oil and gas companies.
PROPHET RIVER NATURAL GAS DEVELOPMENT PROJECT
The company has recently signed a right of first refusal for The Prophet River Natural Gas project with another Major North American Natural Gas and Oil Company and when exercised will have a 21 2/3% working interest in all zones up to 21 square miles. 2D seismic is complete and 3D seismic is currently being completed. A deep Slave Point test well is planned for summer 2006.
HEARNE CHANNEL NICCOLITE (HIGH GRADE NICKEL) AND COBALT PROJECT
Wyn has completed an option to acquire a 100% interest in the Hearne Channel Property located 135 kilometers east-southeast of Yellowknife, Northwest Territories, Canada, near Great Slave Lake. The property encompasses approximately 4000 acres and covers occurrences of Niccolite, a high-grade Nickel mineral, together with deposits of Cobalt in a geological environment permissive to host large tonnage mineral deposits. Year round access to the Hearne Channel Property is via aircraft from Yellowknife or by winter road 5 kilometers from Hearne Channel on Great Slave Lake. Previous assays have indicated a range of 26.0% Nickel and 1.01% Cobalt to 37.0% Nickel and 0.15% Cobalt. Drill testing is planned for early 2006.
About Canada Rare Earths
Canada Rare Earths is a growth company focused on the exploration and development of rare earth elements at its 100% owned Goeland Rare Earths Project within the Montviel carbonatite complex, Montviel Township Quebec, immediately adjacent to Geomega's (TSX-V: GMA) recent rare earth discovery. The Goeland property located 215 km north of Val-d'Or, is road accessible and consists of 47 claims totaling approximately 2,600 hectares. Since the acquisition of the Goeland Project, the Company, in a short period of time, has successfully established itself in one of the largest Carbonatite complexes in North America. Worldwide, carbonatite-related deposits are a major host for rare earths elements ("REE"). The world's most advanced and prolific REE deposits in production or development, Bayan Obo (China), Molycorp's Mountain Pass (USA), Lynas's Mount Weld (Aus), and Rare Earth Element Resource's Bear Lodge project, are all hosted by carbonatites.
For more information on Canada Rare Earths, please contact our Head Office.
On Behalf of the Board of Canada Rare Earths Inc.
Chad McMillan
President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. All of the above is subject to TSX.V and regulatory acceptance.
FORWARD LOOKING STATEMENTS
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release, including statements regarding the Company's Pre-Development Agreement and the exploration of the Goeland Project, constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable, including that the Company is able to obtain any required government or other regulatory approvals and any required financing to complete the Company's obligations pursuant to the Pre-Development Agreement and planned exploration activities, that the Company is able to procure equipment and supplies in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management's expectations. However, the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors relating to Canada Rare Earth's operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such uncertainties and risks may include, among others, actual results of the Company's exploration activities being different than those expected by management, uncertainties involved in the interpretation of drilling results and geological tests, delays in obtaining required government or other regulatory approvals or financing, inability to procure equipment and supplies in sufficient quantities and on a timely basis, equipment breakdowns and bad weather. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. Canada Rare Earths does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
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