WYN DEVELOPMENTS INC. ANNOUNCES TRUTCH PRODUCTION FIGURES
Vancouver, British Columbia, Canada - April 04, 2007 - Wyn Developments Inc. ("Wyn Developments" or the "Company") has received the initial production summary from the three producing Trutch Triassic Halfway wells. The summary concerns the period of February 7th to 28th, 2007.
c-25-A/94-G-15 produced approximately 1.4 Million Cubic Feet per day (MMcf.d).
c-36-A/94-G-15 produced approximately 1.154 MMcf.d.
b-56-A/94-G-15 produced approximately 807.3 Thousand Cubic Feet per day (Mcf.d).
These wells have not produced any water.
The total approximate production for February equals 3.361 MMcf.d over the 21 day period for approximate gross production 70.58 MMcf. The Company's first compensation pursuant to its 15% gross working interest in these wells is anticipated late April.
Given known geological, geophysical and geochemical data of the Triassic Halfway Formation, including the production characteristics of other nearby Triassic Halfway wells, the Company reasonably estimates a prospective resource estimate of 4 to 5 Billion Cubic Feet OGIP in the Triassic Halfway Formation per drilling spacing unit (DSU). The Company has successfully drilled wells on 4 DSUs to date within the Bougie Trutch and Trutch East lands, and is currently drilling a 5th. In addition, on earned and optioned lands, the Company has established this prospective resource estimate in the Triassic Halfway Formation over an additional 14 DSUs. The Bougie Trutch and Trutch East lands are located adjacent to the Tommy Lake Triassic Halfway field, which serves as a comparable measure of regional Triassic Halfway well production characteristics.
Thomas W. Bainbridge P.Geol., is the qualified consultant for the Company's natural gas projects and has reviewed and verified the contents of this news release.
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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