Ditem Signs LOI for Otish Rare Earth Property

Ditem Explorations is pleased to announce that it has signed a Letter of Intent (LOI) to earn a 100% interest in the Lac Henri property situated approximately 350 km northeast of Chibougamau in the Otish Mountain region of Quebec. The LOI, subject to regulatory approvals, confirms the transfer of all rights, title and interests in the Lac Henri claims to Ditem Explorations.

Ditem Explorations shall pay $10,000, issue 100,000 common shares of Ditem Explorations and grant a 2% NSR to the seller. At the date of the next permit renewal in February 2013, Ditem Explorations shall have the option to either deliver an additional 200,000 common shares to the seller in order to maintain its interest in the property or return a 100% interest in the property to the seller.

The property consists of 65 claim cells covering a total area of 3,435 hectares. The southern border of the property is situated approximately two kilometers outside the western edge of the Otish Proterozoic Sedimentary basin. Recent prospecting programs and subsequent laboratory analysis of outcrop samples taken from the north-eastern area of the property revealed significant values in rare earth elements associated with Archean granitic gneiss and altered quartz-feldspar-biotite zone.

Ditem Explorations is a uranium exploration and development company with properties in the Athabasca Basin in Saskatchewan (Beartooth Island and Cree Lake) and the Otish Basin (Otish Uranium Property) in Quebec, where a drill program announced in December 2010 is being completed and the preliminary results will be made known shortly.