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To: LoneClone who wrote (91836)2/28/2012 7:41:40 PM
From: LoneClone
   of 108482
 
Ivanhoe Mines Reports Construction of First Phase of Oyu Tolgoi Copper-Gold-Silver Project in Mongolia Nearing 75% Completion, With Start-Up on Schedule for Later This Year

Progress Being Made on Supply of Interim Electrical Power
Ivanhoe Mines and Rio Tinto Continuing Discussion of Financing Arrangements for Oyu Tolgoi

Press Release: Ivanhoe Mines Ltd. – Mon, Feb 27, 2012 9:12 AM EST

finance.yahoo.com id="yui_3_3_0_8_1330473746709484" class="yui3-accordion">





VANCOUVER, BRITISH COLUMBIA--(Marketwire -02/27/12)- Ivanhoe Mines (TSX: IVN.TO - News)(NYSE: IVN.TO - News)(NASDAQ: IVN.TO - News) founder and Chief Executive Officer Robert Friedland said today that construction of the first phase of the Oyu Tolgoi mining complex in southern Mongolia has surpassed an estimated 73% completion and is on track to meet the mine's targeted start of initial production in the third quarter of this year.

"Installation of the two production lines in the concentrator and pre-commissioning works are progressing ahead of plan. The concentrator, which will have an initial capacity of 100,000 tonnes per day, now is more than 80% complete. The first production line is scheduled to be completed during the third quarter, followed by completion of the second production line in the fourth quarter this year," Mr. Friedland said.

"After achieving the scheduled milestones of the production of first ore and the production of the first copper, gold and silver concentrate this year, Oyu Tolgoi will ramp up to reach commercial production during the first half of next year."

Progress achieved on supply of interim electrical power

Mr. Friedland said a goal is to have the Oyu Tolgoi mine site connected to a 220-kilovolt power line reaching into China's Inner Mongolia by the end of July this year.

"Contractors have begun construction of the power line and switching station as part of the 87-kilometre link to be built within China that will connect Oyu Tolgoi with the established distribution grid."

Power transmission towers already have been erected along the 95-kilometre route from Oyu Tolgoi, in Mongolia's South Gobi Region, to the Mongolia-China border.

A separate electricity-purchase agreement establishing a supply arrangement between Mongolian and Chinese authorities is required before power can be imported into Mongolia. Oyu Tolgoi LLC, which owns the Oyu Tolgoi Project and is 66%-owned by Ivanhoe Mines, will be a party to a final power-supply agreement.

The long-term Investment Agreement signed with the Mongolian government in 2009 permits Oyu Tolgoi to import electrical power from China for up to four years after the start of commercial production, following which power will be sourced from within Mongolia.

Comprehensive financing plan under discussion with Rio Tinto

Mr. Friedland said that a comprehensive financing plan for the completion and start-up of the Oyu Tolgoi Project in Mongolia remains under discussion with Rio Tinto, which increased its holding in Ivanhoe Mines to 51% last month.

"The Ivanhoe Mines plan was presented to Rio Tinto earlier this month by a team of management executives, independent directors and advisers," Mr. Friedland said.

"Both companies have exchanged proposals and we are continuing to work together in an attempt to reach agreement on a comprehensive financing approach that will accommodate our mutual interests in advancing Oyu Tolgoi's development."

Mr. Friedland said that Ivanhoe Mines has invested more than US$5 billion to date in Oyu Tolgoi's exploration and development during the past decade. The expenditures have been financed through a combination of equity and short-term debt facilities. A proposed major project financing facility has been under negotiation for more than a year.

"The emergence of a majority shareholder does not diminish the long-standing commitment of the Ivanhoe Mines Board of Directors and management to all of our shareholders to ensure that an appropriate financing plan is put in place as soon as possible," Mr. Friedland said.

"More than eight years ago we dedicated ourselves to building one of the world's greatest copper-gold complexes in Mongolia. Today, Oyu Tolgoi is our flagship asset. We have a plan that will provide the remaining fiscal resources to complete construction of the first phase of Oyu Tolgoi's development and also to continue progressing development work on the phase-two underground mine that is scheduled to begin production in 2015."

Key elements of Ivanhoe's financing plan

The Ivanhoe Mines comprehensive financing plan contains three principal pillars: project finance, bridge finance and equity.

 

-- The cornerstone of the financing plan continues to be a US$4 billion
project-finance facility, which now is in an advanced stage of
discussion with a core lending group comprised of European Bank for
Reconstruction and Development, International Finance Corporation,
Export Development Canada, BNP Paribas and Standard Chartered Bank. An
objective is to sign loan documentation early in the second half of this
year.

-- Ivanhoe Mines is seeking the required approvals for the project-finance
facility from Erdenes OT and the Mongolian government. Erdenes OT, which
holds the Mongolian government's 34% stake in Oyu Tolgoi, presently is
appointing a legal adviser. The comprehensive Environmental and Social
Impact Assessment (ESIA) required by the potential lenders to finalize
the proposed finance facility is substantially complete and will be
released for public review following its formal approval by the Oyu
Tolgoi LLC Board of Directors.

-- Ivanhoe Mines, as previously announced, has approved a US$1.8 billion
facility to be provided by a major international bank as an interim,
bridge-financing measure. The formal loan agreement has been submitted
to the international bank's credit committee for final approval and
remains subject to approval by Rio Tinto. Alternative bridge-financing
arrangements proposed by Rio Tinto also are being considered.

-- The bridge financing facility would be in addition to the existing
US$1.8 billion interim funding facility provided by Rio Tinto last year.
To date, Ivanhoe Mines has accessed a total of US$867 million from the
Rio Tinto facility.

-- The Rio Tinto interim funding facility and any additional bridge
financing facilities are expected to be repaid from the planned project-
finance facility.

-- The Ivanhoe Mines Board of Directors also is considering a number of
equity alternatives, including a possible rights offering.

Ivanhoe Mines' cash position on a consolidated basis at February 24 was approximately US$960 million. The company's non-consolidated cash position, excluding cash at Ivanhoe Australia and SouthGobi Resources and including cash at Oyu Tolgoi LLC, was approximately US$683 million.

Expressions of interest in Ivanhoe asset divestment

Mr. Friedland said that in addition to pursuing the key elements of the comprehensive financing plan, Ivanhoe Mines is highly encouraged by the progress of discussions regarding asset divestment. He said Ivanhoe Mines has received detailed, written expressions of interest on potential asset divestments that could realize significant capital to support the ongoing development of Oyu Tolgoi .

Discussions on governance at Ivanhoe Mines

Rio Tinto also has initiated discussions with independent Ivanhoe Mines directors on a number of governance and management matters. The independent Ivanhoe directors intend to work constructively and expeditiously with Rio Tinto to implement various changes to reflect Rio Tinto's majority ownership of Ivanhoe Mines while, at the same time, seeking to ensure, to the greatest extent possible, that the rights of the minority shareholders are not prejudiced by such changes.

About Ivanhoe Mines

Ivanhoe Mines (TSX: IVN.TO - News)(NYSE: IVN.TO - News)(NASDAQ: IVN.TO - News) is an international mining company with operations focused in the Asia Pacific region. Assets include the company's 66% interest in the Oyu Tolgoi copper-gold mine development project in southern Mongolia; its 58% interest in Mongolian coal miner SouthGobi Resources (TSX: SGQ.TO - News)(HK: 1878.HK - News); a 59% interest in Ivanhoe Australia (TSX: IVA.TO - News)(ASX: IVA.TO - News), a copper-gold-uranium-molybdenum-rhenium exploration and development company; and a 50% interest in Altynalmas Gold, a private company developing the Kyzyl Gold Project in Kazakhstan.

Ivanhoe Mines' shares are listed on the New York, NASDAQ and Toronto stock exchanges under the symbol IVN.

FORWARD-LOOKING STATEMENTS

Certain statements made herein, including statements relating to matters that are not historical facts and statements of our beliefs, intentions and expectations about developments, results and events which will or may occur in the future, constitute "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking information and statements are typically identified by words such as "anticipate," "could," "should," "expect," "seek," "may," "intend," "likely," "plan," "estimate," "will," "believe" and similar expressions suggesting future outcomes or statements regarding an outlook. These statements include, but are not limited to, statements with respect to: (i) that the first production line is expected to be completed by July of 2012; (ii) that Oyu Tolgoi is on track to meet its targeted start date of initial production in the third quarter of this year and ramp up to commercial production during the first half of next year; (iii) expected date for the connection of the power line before July of 2012; (iv) the plan to obtain fiscal resources to complete construction of the first phase of Oyu Tolgoi's development; (v) the objective to sign loan documentation for project financing early in the second quarter of this year; (vi) the release of the comprehensive Environmental and Social Impact Assessment; (vii) the international bank's credit committee approval of the interim bridge facility; (viii) progress on asset divestment; and (ix) the implementation of governance changes.

All such forward-looking information and statements are based on certain assumptions and analyses made by Ivanhoe Mines' management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include those described under the heading "Risks and Uncertainties" elsewhere in the Company's MD&A and under "Risk Factors" and elsewhere in the corporation's periodic filings with Canadian and US securities regulators. Readers are cautioned not to place undue reliance on forward-looking information or statements.


Contact:

Ivanhoe Mines Ltd. - Investors
Bill Trenaman
+1.604.688.5755
Ivanhoe Mines Ltd. - Media
Bob Williamson
+1.604.688.5755
www.ivanhoemines.com

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To: LoneClone who wrote (91837)2/28/2012 7:46:36 PM
From: LoneClone
   of 108482
 
Korvus Gold: Recovery of 747,000 ounces of Gold Producing a 28.8% IRR with Total Initial Capex of $68.8M and a 2.6 Year Payback

Press Release: Corvus Gold Inc. – 11 hours ago



finance.yahoo.com

VANCOUVER, BRITISH COLUMBIA--(Marketwire -02/28/12)- Corvus Gold Inc. ("Corvus" or the "Company") (TSX: KOR.TO - News)(OTCQX: CORVF.PK - News) announces the results of an independently prepared Preliminary Economic Assessment ("PEA") for its North Bullfrog Project in Nevada. This PEA is based on the Company's November 7, 2011 resource estimate and does not include data from the recent successes from the 2012 exploration program (NR12-06, February 13, 2012). The PEA produced a robust positive economic analysis for a conceptual, low capex, heap leach project that generates an average annual gold production of 57,700 ounces over 12.8 years, at a life of mine strip ratio of 0.41 to 1 (overburden to process feed), indicating a pre-tax, pre-royalty NPV(5%) of $118.3M, and an IRR of 28.8% at $1,300 per ounce gold price (Table 1). The PEA also shows the project has a considerable leverage to gold price, with a pre-tax, pre-royalty NPV(5%) of $338M and an IRR of 70% at $1,700 per ounce gold price (Table 2) (all currency USD).

North Bullfrog Project Highlights

 

-- Low entry cost gold project with total initial capex of $68.8M with
contingency and pre-production/indirect costs included resulting in a
2.6 year payback at $1,300 gold
-- Strong leverage to gold price with NPV(5%) of $338M at $1,700 gold with
a 1.2 year payback
-- Large in pit resource of 1.1M ounces contained, and 747,000 ounces
recoverable, gold
-- Average annual production of 57,700 ounces of gold with an average of
70,000 ounces of gold per year over the first 3 years
-- Total cash operating cost of $815/oz gold with an average of $673/oz
gold over the first 3 years
-- Potential for significant resource expansion with ongoing drill program
as highlighted with recent success in a 400 metre step out hole that
returned 52 metres of 0.8 g/t gold
-- Additional new discovery potential for high-grade gold and silver
systems, currently being drilled
-- Favourable permitting environment with recent examples of timely
approvals
-- Excellent infrastructure for mine development, highway and grid power a
few kilometres from deposit
-- Favourable low strip ratio of 0.41 that is less than 0.3 in the first 3
years
-- Very good recovery of gold with low cost heap leach system
-- Existing, skilled mining workforce in the nearby communities
-- Potential for fast track development project that is within the scope of
a junior producer
-- Recently expanded land package to 43 km2 to cover potential gold system
extension and to address potential future mining operation

Jeffrey Pontius, CEO of Corvus, stated: "These initial results are impressive and reinforce the potential for creating a new Nevada gold producer. The low cost project linked with a low initial capex, attractive start-up phase, a favourable permitting environment, excellent infrastructure and available labour force, significantly de-risk this prospective project. With recent successes in our step out and high-grade drilling project we see this initial positive PEA as a critical first step in developing what we believe will be one of Nevada's next gold mines."

PEA Description

The PEA assumes conventional drill and blast, surface mining using haul trucks and front end loaders. Mineralized material would be delivered to a crushing plant, where it would be crushed to 80% passing minus 19 mm (3/4 inch), then transported and stacked on a heap leach pad by conveyor. Cyanide solution would be used to dissolve the gold and would be processed through a standard carbon-in-column leach plant, with a gold dore produced in an on-site refinery. Physical data for the mine operation are summarized in Table 3.

 

Table 1
North Bullfrog Project - Heap Leach PEA Summary
(All values in 2012 USD based on a $1,300 Whittle shell, mining recoverable
in-pit resources above 0.1 g/t (0.003 oz/ton) gold cut off grade)

----------------------------------------------------------------------------
Parameter Summary Data
----------------------------------------------------------------------------
In-pit resource - Indicated 19.5 M tonnes @ 0.32 g/t for 199k Oz
Au contained
----------------------------------------------------------------------------
In-pit resource - Inferred 123.3 M tonnes @ 0.23 g/t for 890k Oz
Au contained
----------------------------------------------------------------------------
NPV(5%); IRR at USD 1,300 per Au Oz USD 118.3M; 28.8%
----------------------------------------------------------------------------
Overall Strip Ratio 1 to 0.41 (mined mineral resource to
overburden)
----------------------------------------------------------------------------
Average Annual Gold Production 57.7k Oz/year
----------------------------------------------------------------------------
Average Gold Recovery 69%
----------------------------------------------------------------------------
Average Total Mining Rate 44 k tonne/day
----------------------------------------------------------------------------
Average Mineralized Material Mining
Rate 31 k tonne/day
----------------------------------------------------------------------------


Table 2
Base Case Gold Price Sensitivity Analysis - North Bullfrog Project
(all values in constant 2012 US$)


----------------------------------------------------------------------------
Gold Price ($/Oz) NPV 5%($M) NPV 7.5% ($M) IRR (%) Payback (yrs)
----------------------------------------------------------------------------
$1200 $63 $46 18.2% 7.3
----------------------------------------------------------------------------
$1300 $118 $94 28.8% 2.6
----------------------------------------------------------------------------
$1400 $173 $141 39.1% 2.0
----------------------------------------------------------------------------
$1500 $228 $189 49.4% 1.7
----------------------------------------------------------------------------
$1600 $283 $237 59.6% 1.4
----------------------------------------------------------------------------
$1700 $338 $285 69.7% 1.2
----------------------------------------------------------------------------


Table 3
PEA Key Physical Data - North Bullfrog Heap Leach Project

----------------------------------------------------------------------------
Key Physical Data Units Value
----------------------------------------------------------------------------
Process Feed Mined M tonnes 142.7
----------------------------------------------------------------------------
Overburden Mined M tonnes 58.5
----------------------------------------------------------------------------
Total Material Mined M tonnes 201.2
----------------------------------------------------------------------------
Mine Life Years 12.8
----------------------------------------------------------------------------
Contained Gold M Oz 1.09
----------------------------------------------------------------------------
Recovered Gold M Oz 0.75
----------------------------------------------------------------------------
Average Strip Ratio Overburden/Process Feed 0.41
----------------------------------------------------------------------------
Average Gold Grade g/t 0.237
----------------------------------------------------------------------------
Average Gold Recovery % 68.6
----------------------------------------------------------------------------
Annual Process Feed Mined M tonnes/yr 11
----------------------------------------------------------------------------
Annual Gold Produced K Oz/yr 57.7
----------------------------------------------------------------------------

Estimated initial capital costs are listed in Table 4. These estimated costs exclude the estimate of working capital, which is recovered at the end of the mine life, and sustaining capital. The PEA initial capital cost estimate includes $12.5 M contingency, or 25% of applicable items. Life of mine sustaining capital is estimated to be $89.2 M, and additional LOM contingency is estimated to be $15.4 M.

 

Table 4
PEA Initial Capital Cost Estimate - North Bullfrog Heap Leach Project

----------------------------------------------------------------------------
Capital Area Estimated Capital Cost (USD $M)
----------------------------------------------------------------------------
Direct Capital Cost $42.2
----------------------------------------------------------------------------
Indirect Costs $9.1
----------------------------------------------------------------------------
Owner's Cost $5.0
----------------------------------------------------------------------------
Contingency $12.5
----------------------------------------------------------------------------
Total(i) $68.8
----------------------------------------------------------------------------

(i)excludes working capital and sustaining capital

Operating costs included in the PEA were based on mining, processing, administration and reclamation, and are listed in Table 5, where they are normalized to process tonnage and recovered gold ounces. Cash operating costs were projected to average $673/Oz for the first 3 years of mining, with total costs averaging $817/Oz during this period. Total LOM cash operating costs are projected to be $815/Oz and LOM capital cost was estimated to be an additional $232/Oz.

 

Table 5
Operating Costs- North Bullfrog Heap Leach Project

----------------------------------------------------------------------------
Cost per Process tonne Cost/Recovered Gold Oz
Cost ($/tonne) ($/Oz)
----------------------------------------------------------------------------
Mining $1.97 $377
----------------------------------------------------------------------------
Processing $1.67 $320
----------------------------------------------------------------------------
Administration $0.50 $95
----------------------------------------------------------------------------
Reclamation $0.12 $23
----------------------------------------------------------------------------
Total Operating Cost $4.27 $815
----------------------------------------------------------------------------

The PEA utilized preliminary estimates of heap leach recovery, assuming a nominal recovery of 68.6% of fire assay grade, based on recently completed column leach tests and more extensive bottle roll test data at different particle sizes as reported in January 2012.

The Company cautions that the North Bullfrog PEA is preliminary in nature, and is based on technical and economic assumptions which will be evaluated in more advanced studies. The PEA is based on the North Bullfrog in-situ resource model (November, 2011) which consists of material in both the indicated and inferred classifications. Inferred mineral resources are considered too speculative geologically to have technical and economic considerations applied to them. The current basis of project information is not sufficient to convert the in-situ mineral resources to mineral reserves, and mineral resources that are not mineral reserves do not have demonstrated economic viability. Accordingly, there can be no certainty that the results estimated in the PEA will be realized. The PEA results are only intended as an initial, first-pass review of the potential project economics based on preliminary information.

This initial stage PEA does not include any of the additional geologic data produced in the current drilling program, which began in January, 2012.

The Company will file the final version of an NI 43-101 technical report, which will include the results of the PEA, (the "Report") on SEDAR within 45 days, and investors are urged to review the Report in its entirety.

Cash Flow Model Inputs and Assumptions

Resources - The analysis included both indicated and inferred resources in the mining and economic study. Indicated resources make up approximately 18% of the ounces in the production plan.

Mining Method - A standard surface mine using a drill, blast, load and haul mining plan was used for the study, assuming a 50 degree slope. The mine volume was defined by Lerchs-Grossman optimization methods and the resulting surfaces at $1,300/ounce gold price were used to schedule production. No detail design has been performed at this stage. The assumed nominal mining rate was 31,000 tonnes (34,100 tons) of mineralized material per day.

Processing Method - A heap leach design, operated at a placement rate of 31,000 tonnes (34,100 tons) of mineralized material per day was assumed for the PEA. Heap leach feed would be crushed to a P80 of minus 19 mm (-3/4 inch) and conveyed and stacked on the pad. A CIC process plant would recover the gold. The process plant was assumed to have a nominal throughput of 40,000 litres (10,500 gallons) of leachate per minute.

Gold Recovery Model - Process recoveries were estimated based on the results of 305 mm (12 inches) diameter column leach tests performed on bulk sample materials crushed to 80% passing minus 51 mm (-2 inch). Size versus leach recovery curves were developed from the column leach testing and bottle roll tests. The leach recoveries consider both of the bulk samples used in the column tests and were also adjusted to consider spatial variability as indicated by bottle roll data developed from drill samples throughout the resources. The LOM average recovery was 68.6 % of fire assay results.

Operating and Capital Cost Estimates - Preliminary capital and operating costs were developed using information available from other Nevada heap leach operations, a commercially available mining and development cost database, plus all available project technical data and metallurgical/process related test work. Preliminary site infrastructure alternatives (heap leach pad, overburden storage facility, roads, shops, offices etc.) have been evaluated and an arrangement was defined as the basis of capital cost estimates. Capital costs were developed based on a nominal mining rate of 31,000 tonnes (34,100 tons) of mineralized material per day (nominal total material mined per day of 44,000 tonnes (48,000 tons), processing a total of 143M tonnes, and includes sustaining capital and all facilities and equipment needed for all phases of the project over its projected 12.8 year life. Major fixed equipment and all mobile equipment was assumed to be financed over the first 6 years of production. All costs are in constant USD from Q1 2012. No escalation was applied in the financial model.

Taxes and Royalties - Taxes and royalty charges were excluded from this preliminary analysis of the project. Net smelter return royalty rates vary from 0-4% across the project and average approximately 0.7%, assuming exercise by the Company of all available royalty buy-out rights.

Revenue - Revenue was determined in the base case financial model assuming a constant, long term gold price of $1,300 per ounce. All sensitivities to gold price assumptions were assessed using a constant price.

November 2011 Resource Update - Mr. Gary Giroux of Giroux Consulting Ltd., of Vancouver BC, produced a mineral resource estimate, the results of which were included in the November 7, 2011 NI 43-101 report entitled "Resource Report for the North Bullfrog Project, Bullfrog Mining District, Nye County, Nevada". This resource estimate was used as the basis for the PEA.

About the North Bullfrog Project, Nevada

Corvus controls 100% of its North Bullfrog Project, which covers approximately 43 km2 in southern Nevada just north of the historic Bullfrog gold mine formerly operated by Barrick. The property package, shown in Figure 1 (http://media3.marketwire.com/docs/corvus-0228-fig-1.pdf), is made up of a number of private mineral leases of patented federal mining claims and 161 federal unpatented mining claims. The project has excellent infrastructure, being adjacent to a major highway and power corridor.

The project currently includes numerous prospective gold targets with four (Mayflower, Sierra Blanca, Jolly Jane and Connection) containing an NI 43-101 compliant estimated Indicated Resource of 24 Mt at an average grade of 0.29 g/t gold for 224,400 ounces of gold and an Inferred Resource of 468 Mt at 0.19 g/t gold for 2,835,000 ounces of gold (both at a 0.1 g/t cutoff), with appreciable silver credits.

Mineralization occurs in two primary forms: (1) broad stratabound bulk-tonnage gold zones such as the Sierra Blanca and Jolly Jane systems; and (2) moderately thick zones of high-grade gold and silver mineralization hosted by structural zones with breccias and quartz-sulphide vein stockworks such as the Mayflower and Yellowjacket targets. The Company is actively pursuing both types of mineralization. A video of the North Bullfrog project showing location, infrastructure access and 2010 winter drilling is available on the Company's website at corvusgold.com

Qualified Person and Quality Control/Quality Assurance

Jeffrey A. Pontius (CPG 11044), a qualified person as defined by NI 43-101, has supervised the preparation of the scientific and technical information (other than the resource estimate) that forms the basis for this news release and has approved the disclosure herein. Mr. Pontius is not independent of Corvus, as he is the CEO and holds common shares and incentive stock options.

Dr. Roger Steininger, PhD, CPG, an independent consulting geologist, has acted as the Qualified Person as defined in NI 43-101, for the description of the general site information, the mineral exploration, and the site geology. He has 40+ years experience and has been involved in mineral exploration, mine site geology and operations, mineral resource and reserve estimations and feasibility studies on numerous underground and open pit base metal and gold deposits in Canada, the United States, and Mexico. He is a Certified Professional Geologist (CPG 7417), certified by the American Institute of Professional Geologists. Dr. Steininger is independent of the Company under NI 43-101.

Mr. Gary Giroux, M.Sc., P. Eng (B.C.), a consulting geological engineer employed by Giroux Consultants Ltd., has acted as the Qualified Person, as defined in NI 43-101, for the Giroux Consultants Ltd. mineral resource estimate. He has over 30 years of experience in all stages of mineral exploration, development and production. Mr. Giroux specializes in computer applications in ore reserve estimation, and has consulted both nationally and internationally in this field. He has authored many papers on geostatistics and ore reserve estimation and has practiced as a Geological Engineer since 1970 and provided geostatistical services to the industry since 1976. Both Mr. Giroux and Giroux Consultants Ltd. are independent of the Company under NI 43-101.

Mr. William J. Pennstrom, Jr., a consulting process engineer and President of Pennstrom Consulting Inc., has acted as the Qualified Person, as defined by NI 43-101, for evaluation of the metallurgical testing data, process evaluation, operating cost estimation and process capital cost estimation for the PEA. He has over 30 years of experience in mineral process design and operation, and has been an independent process and metallurgical consultant for the mining industry for the last nine years. He is a Registered Member of the Society of Mining, Metallurgy and Exploration (SME Member No. 2503900). Mr. Pennstrom and Pennstrom Consulting Inc. are both independent of the Company under NI 43-101.

Mr. Scott E. Wilson, CPG, President of Scott E. Wilson Consulting Inc., is a consulting geologist specializing in surface mine design, optimization and analysis, production scheduling, due diligence evaluations and Mineral Resource and Reserve reporting. He is acting as Qualified Person, as defined in NI 43-101, for the for evaluation of the mining design, production schedule, operating costs, project capital costs, and financial evaluation for the PEA. Mr. Wilson has over 23 years experience in surface mining and is a Registered Member of Society of Mining, Metallurgy and Exploration. Mr. Wilson and Scott E. Wilson Consulting Inc. are independent of the Company under NI 43-101.

The work program at North Bullfrog was designed and supervised by Russell Myers (CPG 11433), President of Corvus, and Mark Reischman, Corvus Nevada Exploration Manager, who are responsible for all aspects of the work, including the quality control/quality assurance program. On-site personnel at the project log and track all samples prior to sealing and shipping. Quality control is monitored by the insertion of blind certified standard reference materials and blanks into each sample shipment. All resource sample shipments are sealed and shipped to ALS Chemex in Reno, Nevada, for preparation and then on to ALS Chemex in Reno, Nevada, or Vancouver, B.C., for assaying. ALS Chemex's quality system complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025:1999. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material and replicate samples. Finally, representative blind duplicate samples are forwarded to ALS Chemex and an ISO compliant third party laboratory for additional quality control. McClelland Laboratories Inc. prepared composites from duplicated RC sample splits collected during drilling. Bulk samples were sealed on site and delivered to McClelland Laboratories Inc. by ALS Chemex or Corvus personnel. All metallurgical testing reported here was conducted or managed by McClelland Laboratories Inc.

About Corvus Gold Inc.

Corvus Gold Inc. is a resource exploration company, focused in Nevada, Alaska and Quebec, which controls a number of exploration projects representing a spectrum of early-stage to advanced gold projects. Corvus is focused on advancing its advanced North Bullfrog project towards a potential development decision and continuing to explore for new major gold discoveries. Corvus is committed to building shareholder value through new discoveries and leveraging noncore assets via partner funded exploration work into carried and or royalty interests that provide shareholders with exposure to gold production.

On behalf of Corvus Gold Inc.

Jeffrey A. Pontius, Chairman and Chief Executive Officer

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and US securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the anticipated content, commencement and cost of exploration programs, anticipated exploration program results and the timing thereof, the discovery and delineation of mineral deposits/resources/reserves, the potential for any mining or production at North Bullfrog, the potential for the identification of multiple deposits at North Bullfrog, the potential for a low-cost run-of-mine heap leach operation at North Bullfrog, the potential for there to be a low strip ratio in connection with any mine at North Bullfrog, the potential for the existence or location of additional high-grade veins, the potential for additional resources to be located between certain of the existing deposits, the potential for a production decision to be made, the potential commencement of any development of a mine at North Bullfrog following a production decision, the potential for the Company to secure or receive any royalties in the future, business and financing plans and business trends, are forward-looking statements. Information concerning mineral resource estimates and the preliminary economic analysis thereof also may be deemed to be forward-looking statements in that it reflects a prediction of the mineralization that would be encountered, and the results of mining it, if a mineral deposit were developed and mined. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events.

The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, significant increases in the cost of any materials and supplies required by the Company, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, the Company's inability to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, and other risks and uncertainties disclosed in the Company's latest Annual Information Form and interim Management Discussion and Analysis and filed with certain securities commissions in Canada. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

Cautionary Note Regarding References to Resources and Reserves

National Instrument 43 101 - Standards of Disclosure for Mineral Projects ("NI 43-101") is a rule developed by the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Unless otherwise indicated, all resource estimates contained in or incorporated by reference in this press release have been prepared in accordance with NI 43-101 and the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") Standards on Mineral Resource and Mineral Reserves, adopted by the CIM Council on November 14, 2004 (the "CIM Standards") as they may be amended from time to time by the CIM.

United States shareholders are cautioned that the requirements and terminology of NI 43-101 and the CIM Standards differ significantly from the requirements and terminology of the SEC set forth in the SEC's Industry Guide 7 ("SEC Industry Guide 7"). Accordingly, the Company's disclosures regarding mineralization may not be comparable to similar information disclosed by companies subject to SEC Industry Guide 7. Without limiting the foregoing, while the terms "mineral resources", "inferred mineral resources", "indicated mineral resources" and "measured mineral resources" are recognized and required by NI 43-101 and the CIM Standards, they are not recognized by the SEC and are not permitted to be used in documents filed with the SEC by companies subject to SEC Industry Guide 7. Mineral resources which are not mineral reserves do not have demonstrated economic viability, and US investors are cautioned not to assume that all or any part of a mineral resource will ever be converted into reserves. Further, inferred resources have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically. It cannot be assumed that all or any part of the inferred resources will ever be upgraded to a higher resource category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of a feasibility study or prefeasibility study, except in rare cases. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant "reserves" as in-place tonnage and grade without reference to unit amounts. The term "contained ounces" is not permitted under the rules of SEC Industry Guide 7. In addition, the NI 43-101 and CIM Standards definition of a "reserve" differs from the definition in SEC Industry Guide 7. In SEC Industry Guide 7, a mineral reserve is defined as a part of a mineral deposit which could be economically and legally extracted or produced at the time the mineral reserve determination is made, and a "final" or "bankable" feasibility study is required to report reserves, the three-year historical price is used in any reserve or cash flow analysis of designated reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority.

Caution Regarding Adjacent or Similar Mineral Properties

This news release contains information with respect to adjacent or similar mineral properties in respect of which the Company has no interest or rights to explore or mine. The Company advises US investors that the mining guidelines of the US Securities and Exchange Commission (the "SEC") set forth in the SEC's Industry Guide 7 ("SEC Industry Guide 7") strictly prohibit information of this type in documents filed with the SEC. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits on adjacent or similar properties are not indicative of mineral deposits on the Company's properties.

This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.


Contact:

Corvus Gold Inc.
Ryan Ko
Investor Relations
(604) 638-3246 or Toll Free: 1-888-770-7488
(604) 408-7499 (FAX)
info@corvusgold.com
www.corvusgold.com

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To: LoneClone who wrote (91838)2/28/2012 7:56:35 PM
From: LoneClone
   of 108482
 
Scorpio Gold Drilling Intersects 12.20 Metres Grading 4.22 g/t Gold on Mary Zone, Mineral Ridge Project



finance.yahoo.com

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 28, 2012) - Scorpio Gold Corporation ("Scorpio Gold" or the "Company ") (TSX VENTURE: SGN.V - News) announces additional drill results from the Mary Zone , located southwest of the current mining in the Drinkwater pit at the 70% owned Mineral Ridge project, Nevada.

Peter J. Hawley , President and CEO reports, "Drill results continue to support an increase in the overall width of the Mary Zone and to confirm that gold mineralization extends southwest from the Mary Zone to the adjacent Mary LC Zone, encompassing a strike length of 780 metres. Assays for the final 11 holes of the Mary Zone drill program are pending and will be incorporated into the overall database for a NI 43-101 compliant mineral resource and reserve estimate in conjunction with a Mine Plan Study by AMEC. Completion of the study is expected in Q2 2012."

Table 1. Mary Zone - Significant Drill Results





----------------------------------------------------------------------------

Hole From To Width From To Width Gold Gold

No. (ft) (ft) (ft) (m) (m) (m) (OPT) (g/t)

----------------------------------------------------------------------------

MR11318 130 170 40 39.63 51.83 12.20 0.088 3.03

----------------------------------------------------------------------------

MR11319 10 15 5 3.05 4.57 1.52 0.018 0.62

----------------------------------------------------------------------------

MR11320 105 115 10 32.01 35.06 3.05 0.016 0.53

----------------------------------------------------------------------------

140 145 5 42.68 44.21 1.52 0.043 1.47

----------------------------------------------------------------------------

MR11321 55 85 30 16.77 25.91 9.15 0.084 2.88

----------------------------------------------------------------------------

95 100 5 28.96 30.49 1.52 0.018 0.62

----------------------------------------------------------------------------

MR11322 135 145 10 41.16 44.21 3.05 0.040 1.37

----------------------------------------------------------------------------

MR11323 45 55 10 13.72 16.77 3.05 0.026 0.89

----------------------------------------------------------------------------

125 135 10 38.11 41.16 3.05 0.015 0.50

----------------------------------------------------------------------------

MR11324 10 15 5 3.05 4.57 1.52 0.075 2.57

----------------------------------------------------------------------------

60 70 10 18.29 21.34 3.05 0.033 1.11

----------------------------------------------------------------------------

MR11325 15 30 15 4.57 9.15 4.45 0.060 2.06

----------------------------------------------------------------------------

MR11327 0 5 5 0.00 1.52 1.52 0.022 0.75

----------------------------------------------------------------------------

MR11328 95 105 10 28.96 32.01 3.05 0.025 0.84

----------------------------------------------------------------------------

MR11329 35 40 5 10.67 12.20 1.52 0.017 0.58

----------------------------------------------------------------------------

110 115 5 33.54 35.06 1.52 0.031 1.06

----------------------------------------------------------------------------

MR11331 125 145 20 38.11 44.21 6.10 0.21 7.12

----------------------------------------------------------------------------

MR11332 135 145 10 41.16 44.21 3.05 0.071 2.42

----------------------------------------------------------------------------

MR11333 125 140 15 38.11 42.68 4.57 0.253 8.67

----------------------------------------------------------------------------

MR11334 110 150 40 33.54 45.73 12.20 0.123 4.22

----------------------------------------------------------------------------

MR11337 90 95 5 27.44 28.96 1.52 0.038 1.30

----------------------------------------------------------------------------

MR11339 135 160 25 41.16 48.78 7.62 0.200 6.85

----------------------------------------------------------------------------



A longitudinal section of current mining and exploration in the Drinkwater Pit and Mary and Mary LC Zones is available at: www.scorpiogold.com/i/maps/mr/DW-Mary_LS.jpg

All holes presented in the above table were completed by reverse circulation (RC) drilling. True width is estimated at approx. 90% downhole width. Analytical results were performed by American Assay Laboratory Inc. (AAL) in Sparks, Nevada, USA. AAL does not have ISO/IEC 17025 accreditation but implements a quality management system following ISO/IEC 17025 standards and maintains a paperwork trail for ISO/IEC 17025 accreditation. AAL participates in a number of testing and certification programs, details of which are presented in the Company's quality assurance and quality control (QA/QC) program for the Mineral Ridge project at: www.scorpiogold.com/i/pdf/reports/QAQC-MR.pdf. External check assays to verify lab accuracy are routinely completed by ALS Chemex, an ISO 9001:2000 certified and ISO/IEC 17025:2005 accredited laboratory.

President & CEO, Peter J. Hawley, PGeo, is the Qualified Person for the Mineral Ridge project and has reviewed the content of this release. For additional information please see the Company's website at www.scorpiogold.com.

ON BEHALF OF THE BOARD

SCORPIO GOLD CORPORATION

Peter J. Hawley, President & CEO

The Company relies on litigation protection for "forward-looking" statements. This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the Company's plans with respect to the exploration and development of its Mineral Ridge project and completion of economic studies. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements, including risks such as delays related to completion of economic studies and those risk factors outlined in the Company's Management Discussion and Analysis for the year ended December 31, 2010 as filed on SEDAR. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty thereof.

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.


Contact:
Peter J. Hawley
Scorpio Gold Corporation
President & CEO
(819) 825-7618
phawley@scorpiogold.com

Jim Macdonald
Torrey Hills Capital
Investor Relations
(858) 456-7300
jm@sdthc.com

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To: LoneClone who wrote (91839)2/28/2012 8:08:37 PM
From: LoneClone
   of 108482
 
Pacific Wildcat Resources Corp.: Results Confirm Regional Potential of the Mrima Hill Carbonatite Complex

finance.yahoo.com



VANCOUVER, BRITISH COLUMBIA--(Marketwire -02/28/12)- Pacific Wildcat Resources Corp. (TSX-V: PAW.V - News) ("PAW " or the "Company") is pleased to announce that Mrima Hill niobium and rare earth oxide rich carbonatite along with other surrounding alkaline intrusions, principally at Kiruku Hill and Jombo Hill, are components of a single very large (17 km x 9 km) alkaline igneous complex - the Dzombo Intrusive Complex.

This conclusion is a result of a recently completed report prepared for PAW by a renowned rare earths consultant, Professor Ken Collerson . Professor Collerson based this major reinterpretation on reconnaissance magnetic and gravity data, coupled with a geochemically coherent model to explain the diverse geology of the area. This has shown that a large alkaline ultramafic intrusion links Mrima Hill with the surrounding outcropping alkaline rocks at Jombo Hill, Nguluku Hill, Kiruku Hill and Dzirihini ("Figure 1"). The discovery has substantially increased the area of prospectivity around Mrima Hill to more than 110 km2.

The Dzombo Intrusive Complex appears to be similar in size, geological complexity and prospectivity to the economically important rare metal rich intrusions on the Kola Peninsula in Russia and Finland. This discovery is a significant advance in understanding the geology and hence mineral potential of the Mrima Hill area.

In addition to the current resource drilling program at Mrima Hill, PAW and Cortec Mining Kenya ("CMK") intend to undertake an exploration program within the Dzombo Intrusive Complex to identify other areas of specialty metals, rare earth oxides, platinum group elements ("PGE"), gold, scandium, gallium and copper mineralization. PAW has a conditional purchase agreement to acquire an indirect 70% interest in CMK, owner of the Mrima Hill Niobium and Rare Earth project.

Further Key Points

 

-- Significant Total Rare Earth Oxide ("TREO") rock chip results of 1.33%
and 0.71% at Kiruku Hill collected over 3km from Mrima Hill ("Figure 2")
support the interpretation of the Dzombo Intrusive Complex.

-- Total count radiometric survey shows an anomaly at the northwest corner
of Mrima Hill, which has the potential for TREO mineralization. Further
anomalies correlate to the surrounding hills and show the potential for
TREO in the alluvial plain from transported eroded material ("Figure
1").

-- TREO are present at Jombo Hill and Nguluku Hill with a higher HREO and
Yttrium to LREO ratio than at PAW's drill programs at Mrima Hill.

-- Anomalous TiO2rock chip result at Jombo Hill of 3.77% and Nguluku Hill
of 2.47%.

-- TREO rock chip results of 0.17% at Nguluku over 6km from Mrima Hill.

Rock chip sampling was focused on the TREO potential from both fenitised (hydrothermal alteration to surrounding rock) and intrusive alkaline igneous rocks. PAW collected thirty-four rock chips across Jombo Hill (17), Kiruku Hill (8), Nguluku Hill (6) and the base of Mrima Hill (3) at an old quarry outside of the known mineralization zone. Twenty of these samples have been received and are listed in Appendix 1. The remaining 14 results are yet to be verified and will be released when available. The samples are indicative of the source and presence of TREO, and provide strong follow up targets for further exploration.

All sample preparation was undertaken by the Nagrom assay labs in Perth. Prepared samples were dispatched to both the Ultratrace (Nb2O5 analysis by XRF) and Genalysis (for rare earth and matrix analysis by ICP-MS) assay labs in Perth, Western Australia. Please refer to the table in Appendix 1 for a summary of results.

Potential of Kiruku Hill

In 1993, the Metal Mining Agency of Japan ("MMAJ") collected seven samples from the northeast ridge at Kiruku Hill. Although they did not assay for the full range of TREO elements and neglected to report grid co-ordinates these results are significant in identifying a mineralized area (Appendix 2). Samples collected by PAW have substantiated the anomaly identified by MMAJ. From a limited sample population PAW, has found Kiruku Hill to be favorably elevated in Heavy Rare Earth Oxides and Yttrium ("HREO") with a high ratio of 14.3% in proportion to Light Rare Earth Oxides ("LREO"). In comparison, drilling assays reported to date from Mrima Hill have a HREO and Yttrium to LREO ratio of 9.3% (Table 3). PAW drill results can be referred to in news releases NR #2011-06, NR #2011-08, NR #2011-11, NR #2011-21, NR #2011-22, and NR #2012-03.

MMAJ reported that mineralization at Kiruku Hill originated from hydrothermal activity along NW-SE regional faults and that the hill is the result of a small plug of brecciated highly baked potassium rich fenities. PAW has commissioned a recent internal review (2012) of this and other datasets by Professor Collerson who also visited the site in November 2011. His findings indicate that these fenites formed due to fluids from the alkaline intrusive complex that lies beneath the hill and "has significant exploration potential for TREO and Nb2O5". The Dindi and Swain 1988 historic aeromagnetic gravity survey ("Figure 1"), supports Professor Collerson's interpretation that outcropping alkaline intrusions are part of a single very large (greater than 110 km2) alkaline ultramafic intrusion at depth.

The total count contoured radiometric data sourced from Terra Surveys Ltd of Canada ("TSL") 1977, which is on a more detailed scale, confirms an anomaly at Kiruku Hill supporting the theory of an alkaline intrusion beneath it (see Figure 2).

Potential of Jombo Hill and Nguluku Hill

Work undertaken by Professor Collerson (2012) has identified Jombo Hill as having the potential for PGE associated with pyroxenites and ultramafics, as well as gold in ijolites and nepheline syenites. He has mentioned the strong possibility of Phoscorites at Jombo Hill, which have a high potential for PGE's and scandium. Jombo Hill is part of the same large intrusion that produced Mrima Hill ("Figure 1 and 3") and it lacks the laterite seen at Mrima Hill. Faulting after the major weathering event that produced the laterite blanket at Mrima Hill has exposed the exposed fresh rocks.

Professor Collerson's report has also indicated the prospectivity for copper and gallium within the region. Although no anomalies have yet identified, copper sulphide mineralization was noted by Professor Collerson in diamond drill core in fresh carbonatite at Mrima Hill.

Nguluku is a small hill composed of an agglomerate, which has the strong potential for an underlying alkaline intrusion based on xenolith (exotic rock fragment) composition and total count radiometric data sourced from TSL in 1977 (see Figure 2).

TREO's are present at Jombo Hill and Nguluku Hill with a higher HREO and Yttrium to LREO ratio (Table 3) than at Mrima Hill with HREO ratio of 9.3% based on drilling results. This is geochemically consistent with the common association of HREO's in nepheline syenites (Jombo) cf. carbonatites (Mrima). These results show the presence of TREO, the highest TREO value (0.17%) achieved at Nguluku Hill (NR006) TREO over 6km from Mrima Hill. Soils and saprolitic clays in the region therefore will form a potential exploration target.

Titanium results (JR016, 3.77% TiO2) are also anomalous around Jombo Hill and Nguluku Hill (NR006, 2.47% TiO2) indicating the likely presence of pyrochlore in the intrusion.

Mrima Quarry

Three rock chips have been taken from an old quarry on the slopes of Mrima Hill, historically used for road base and outside of the zone of known mineralisation. These samples are composed of alkaline lava flows (phonolites) and ash deposits (tuff) along the lower edge of Mrima Hill, indicating that these unweathered rocks must have been exposed by post-laterite faulting.

As expected, the results show that TREO were present at this outcrop, though not highly elevated being outside the enriched saprolite and carbonatite zones ("Appendix 1").

A New Exploration Initiative

Following these positive results, PAW plans to undertake the following exploration program to better delineate mineralized areas and the intrusive complex that formed these hills in tenement SPL256.

 

-- Detailed airborne regional aerial radiometric and magnetic surveys to
define the underlying alkaline and ultramafic igneous complex
surrounding Mrima Hill and the other surrounding hills. This will also
aim to identify new mineralized alkaline intrusive targets, which are
now buried and relate to the ultramafic intrusion at depth and fenitised
zones that are undercover.

-- Soil sampling, trenching, auger and or aircore drill programs to further
identify and define buried targets and any potential ionic clay
mineralization. Based on the results from these geochemical sampling
programs an exploratory reverse circulation drilling program is then
planned to be undertaken.

-- PGE potential will be further investigated surrounding Jombo Hill where
phoscorites might be present.

-- Rock chip and soil sampling, as well as mapping to better define the
genesis of the intrusions and provide further anomalies for drill
testing.

Closing Comments

PAW's President and CEO Mr. Darren Townsend commented, "These results demonstrate the regional potential of the large intrusive complex beneath Mrima Hill. The exploration work undertaken by our geologists and Professor Ken Collerson identifies this potential and provides many new exploration targets. It is the intention of PAW and CMK to actively explore these anomalies to gain a better understanding of the potential mineralization as an addition to the company's successful work at Mrima Hill."

ON BEHALF OF THE BOARD OF DIRECTORS OF

PACIFIC WILDCAT RESOURCES CORP.

Darren Townsend, President & CEO

About Pacific Wildcat Resources Corp. - Pacific Wildcat is a TSX Venture Exchange listed Canadian mineral exploration company having the trading symbol "PAW". It has a producing Tantalum mine at Muiane in northern Mozambique where it has the largest land position of over 450 square kilometers on the Alto Ligonha pegmatite belt, the location of numerous historic Tantalum mines.

PAW's flagship project is located in Kenya where a conditional contract is in place whereby the Company has the right to acquire an indirect 70% interest in the Mrima Hill Niobium and Rare Earth Project. This is an ex Anglo American and Pechiney property the subject of extensive historic work. In July 2011, the Company completed an initial NI 43-101 compliant inferred niobium resource estimate of 105.3 million tonnes at 0.65% Nb2O5 for a total of 1.519 billion pounds contained Nb2O5 to a depth of 30 metres from the surface. In addition, substantial rare earths mineralization has been identified and work has commenced on a Rare Earth Resource reverse circulation drilling program.

For information about Pacific Wildcat Resources Corp. and its development and exploration activities shareholders and other interested parties are invited to visit the company's website at www.pacificwildcat.com.

To view Figure 1, please click on the following link: media3.marketwire.com

To view Figure 2, please click on the following link: media3.marketwire.com

To view Figure 3, please click on the following link: media3.marketwire.com

To view all Tables and Appendixes, please click on the following link: media3.marketwire.com

Qualified Person

The individuals who completed the niobium mineral resource estimate have extensive experience in the mining and exploration industry and are members in good standing of appropriate professional institutions are as follows:

 

-- Dr William (Bill) Northrop, PhD, Pr. Sci. Nat. (400164/87), FSAIMM,
FGSSA, MGASA
-- Mr. Andre Deiss, BSc (Hons), Pr. Sci. Nat. (400007/97), MSAIMM

Dr. Northrop and Mr. Deiss are competent person's registered with the South African Council of Natural Scientists ("SACNASP") as well as with various mining and geological professional bodies and are qualified persons as defined under NI 43-101. Both Dr. Northrop and Mr. Deiss have reviewed the content of this press release and consent to its disclosure.

Timothy David Major, BSc, MSc - Geology and Mineral Exploration. MAusIMM. Qualified person under NI 43-101, and as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' has reviewed the scientific and technical data and exploration data relating to the Mrima Hill Project contained in this news release on behalf of the Company and consents to its release.

A Quality Assurance/Quality Control (QA/QC) program forms part of the drilling, sampling and assay program on the Mrima Hill Project. This program includes chain of custody protocol as well as systematic submittal of certified reference materials and blank samples into the flow of samples produced by the drilling. The results of the Company's drill program have been reviewed, verified (including drill logs, assay certificates, test data and additional supporting information sources) and compiled by the Company's Exploration Manager (Timothy David Major, who is a qualified person for the purpose of NI 43-101 - Standards of Disclosure for Mineral Projects).

Investors are cautioned that trading in the securities of Pacific Wildcat Resources Corp. should be considered highly speculative. Cautionary note: This press release contains forward looking statements, particularly those regarding cash flow, capital expenditures, work programs, the estimation of mineral resources and the Company's plans with respect to the exploration and development of its projects and its investment plans. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. There can be no assurance that the Company will be able to obtain a mining licence or any of the permits that are required in order to commence mining operations at the Mrima Hill Project. The rare earths historical resource estimates is considered speculative and therefore noncompliant with National Instrument 43-101 ("NI 43-101") reporting standards and should not be relied upon. The Company is not treating the historical estimate as current mineral resources or reserves. The Company has not undertaken any independent investigation of the historic rare earths resource estimates. The Company believes that these historical resource estimates provide a conceptual indication of the potential of mineral occurrences within the project and are relevant to ongoing exploration. The Company intends to confirm the historic resource estimates through drilling currently underway.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. 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.


Contact:

Pacific Wildcat Resources Corp.
Don Willoughby
Corporate Communications Manager
+1-416-306-5777
info@pacificwildcat.com
www.pacificwildcat.com
Brisco Capital Partners Corp.
Graeme Dick
Investor Relations
+1-403-262-9888
Brisco Capital Partners Corp.
Scott Koyich
Investor Relations
+1-403-262-9888
lgermiquet@briscocapital.com

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To: LoneClone who wrote (91840)2/28/2012 8:24:47 PM
From: LoneClone
   of 108482
 
Critical Elements Corporation: Strategic Analysis Linked to Rollout of Secondary Carbonate Processing Plant for the Rose Mining Project

finance.yahoo.com




MONTREAL, QUEBEC--(Marketwire - Feb. 28, 2012) - Critical Elements Corporation (TSX VENTURE: CRE.V - News)(OTCQX: CRECF.PK - News)(FRANKFURT: F12.F - News) is actively working on development of the Rose mining project, which includes construction of a primary processing plant as well as a secondary processing plant for lithium carbonate . The planning process for the latter facility is well underway and Critical Elements is planning rollout of the lithium carbonate secondary processing plant.

Critical Elements therefore has commissioned SECOR to conduct a strategic analysis linked to rollout of the secondary processing plant. SECOR will work in conjunction with the Critical Elements management team to determine the key factors for success and the optimal framework for operating the plant. The findings of this analysis will be available to Critical Elements senior management in May 2012.

Jean-Sebastien Lavallee, President & CEO of Critical Elements, is very pleased with this joint initiative: "We want the Rose project to become a driving force in wealth creation for Quebec , especially for the local communities that will host our operations, as well as for our employees and shareholders. The Rose mining project will benefit from SECOR's experience and from its team in the Quebec and international mining sectors."

About SECOR

Founded in Quebec more than 35 years ago, SECOR is the largest independent strategic consulting firm in Canada. The company's mission is to support management teams making strategic decisions that will have a major impact on success of their organization. With recognition for its unique approach to strategy in both the private and public sectors, SECOR has consistently earned distinction for its concern with and ability to identify the major strategic issues of an organization or industry, while factoring in the organizational, economic and financial impact resulting from the directions chosen.

About Critical Elements Corporation

Critical Elements is actively developing its 100%-owned Rose lithium-tantalum flagship project located in Quebec.

A recent financial analysis of the Rose Project based on price forecasts of US$260/kg ($118/lb) for Ta2O5 contained in a tantalite concentrate and US$6,000/t for lithium carbonate (Li2CO3) show an after-tax Internal Rate of Return (IRR) of an estimated 25% for the Rose Project, with an estimated Net Present Value (NPV) of CA$279 million at an 8% discount rate. The payback period is estimated at 4.1 years. The pre-tax IRR is estimated at 33% and the NPV at $488 million at a discount rate of 8%. (Mineral resources that are not mineral reserves do not have demonstrated economic viability).

The project hosts a current NI 43-101-compliant Indicated resource of 26.5 million tonnes of 1.30% Li2O Eq. or 0.98% Li2O and 163 ppm Ta2O5 and an Inferred resource of 10.7 million tonnes of 1.14% Li2O Eq. or 0.86% Li2O and 145 ppm Ta2O5.

Critical Elements is presently in the tendering process for the various aspects of the feasibility study and has commissioned Genivar to complete an environmental impact study of Rose deposit and Acme Metallurgical Ltd. of Vancouver is carrying out project metallurgy.

Critical Elements' portfolio also includes rare-earth and tantalum-niobium projects in the Rocky Mountains of British Columbia and in Quebec, as well as a 50% interest in the Croinor project, which is located in Quebec and hosts a current NI 43-101-compliant measured and indicated resource of 506,700 tonnes at 10.66 g/t Au, for 173,700 ounces of gold at a 5 g/t cut-off.

Jean-Sebastien Lavallee (OGQ #773), geologist, shareholder and president and chief executive officer of the Company and a Qualified Person under NI 43-101, has reviewed and approved the technical content of this release.

Neither the 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.


Contact:
Jean-Sebastien Lavallee, P. Geo, President & CEO
Critical Elements shareholders, please contact:
819-354-5146
president@cecorp.ca
www.cecorp.ca

514-341-0408
Paradox Public Relations

Sarah Moreau
Media:
Advisor, Financial and Regulatory Affairs
H+K Strategies
514-395-0375, ext 234

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To: LoneClone who wrote (91841)2/28/2012 8:28:06 PM
From: LoneClone
   of 108482
 
Stans Energy Provides Corporate Update

finance.yahoo.com




TORONTO--(BUSINESS WIRE)--

Stans Energy Corp (TSX-V: HRE, OTCQX: HREEF)(‘Stans’ or ‘The Company’) is pleased to report: that it has received a working draft of its Preliminary Feasibility Study; on recent meetings conducted with Kyrgyz and Russian government representatives and to announce a grant of options to a new consultant.

The Preliminary Feasibility Study is currently under review at The Russian Leading Institute of Chemical Technology (VNIIHT). Under the guidance of Dr. Valery Kosynkin, the scientists at VNIIHT will be reviewing and if necessary removing all references of proprietary technologies and processes that will be used at the Kashka Rare Earth Processing Plant (KRP). A fundamental challenge to all new Rare Earth projects worldwide is developing technology for recovery and preparation of useful forms of the Rare Earth elements. Stans’ is the holder of such proprietary technology developed and employed in recovering and producing Rare Earth Element products during the more than 20 years of operation of the KRP. Upon completion of this task, the Preliminary Feasibility Study will be reviewed by a Canadian independent third party to ensure compliance with Canadian reporting regulations

On January 20th, 2012, Boris Aryev, Stans Energy COO and Director, Dr. Gennady Sarychev, the Director of VNIIHT, along with Mr. V. Nekrasov, the Russian Trade Commissioner for the Kyrgyz Republic attended a meeting with Mr. O. Babanov, the newly appointed Prime Minister of the Kyrgyz Republic, and Mr. C. Tashbaev, the newly appointed Director of the State Geological Agency of the Kyrgyz Republic. The purpose of the meeting was to discuss and elaborate on the joint initiatives undertaken by Stans Energy Corp and VNIIHT, as they advance Kutessay II and the KRP back to production.

“With VNIIHT being a government sponsored agency, namely a division of Russian state-controlled Rosatom, and the participation of the Russian Trade Commissioner in our recent meetings demonstrated to Kyrgyz officials the high level of Russian Government support that Stans Energy enjoys. Our recent submission of documents in satisfaction of the Licensing Agreement is another important milestone that needs to be addressed for us to continue to fast track plans for resumption of production at Kutessay II. Stans Energy will continue to work closely with the Kyrgyz State Geological Agency to satisfy all conditions of the Licensing Agreement, and the strong levels of international support demonstrates the critical nature of the project to all stakeholders and potential partners,” states Boris Aryev, COO and Director.

As approved by the board of directors on February 27, 2012, a new consultant engaged to assist Stans Energy with off-take negotiations has been granted 40,000 options exercisable into one common share of the company at $1.12 per share until February 27, 2017. All options granted and any common shares issued on the exercise of the options will be subject to a statutory four-month hold period expiring June 27, 2012. The option grant is subject to regulatory approval.

About Dr. Kosynkin

Dr. Valery Kosynkin is one of the world's preeminent chemists and metallurgists for Rare Earth Elements (REE). Dr. Kosynkin holds a doctorate of philosophy from Moscow State University. His dissertation was on uranium and the development of REEs through processing of loparite concentrate. Since 1959, Dr. Kosynkin has been employed by VNIIHT – The Russian Leading Institute of Chemical technology, initially as a Researcher in Uranium technologies, and from 1973 as the Head of Research and Development for REE chemistry and technology. Dr. Kosynkin has overseen the technical research and commissioning of REE production and extraction facilities in Russia, Ukraine, Estonia and Kazakhstan. In addition to his work at VNIIHT, Dr. Kosynkin worked as a USSR IAEA Representative from 1968 to 1973 in Vienna, Austria; and has been lecturing on REE metallurgy and chemistry in Russia, China, and Korea.

About VNIIHT

The Russian Research Institute of Chemical Technology (VNIIHT) was founded in April 1951. VNIIHT’s objective was to focus on the exploration and development of technologies and raw materials for use in the Soviet nuclear energy sector. VNIIHT technologies were, and continue to be implemented during the main stages of the nuclear fuel cycle. This includes the processing of Uranium and Rare Metal Ores through to the generation of nuclear-pure materials. VNIIHT’s sixty years of chemical technology experience combined with their capabilities of executing the complete cycle of rare earths research, development, and production will give Stans Energy a significant advantage relative to its competitors outside of China.

About Stans Energy

Stans Energy Corp. is a resource development company focused on progressing Heavy Rare Earth (HRE) properties in areas of the Former Soviet Union. In December 2009, Stans acquired a 20-year mining license for the past-producing Kutessay II rare earth mine from the Kyrgyz Republic. On May 26, 2011 Stans completed the purchase of the Kashka Rare Earth Processing Plant (KRP) the same plant that previously refined REEs historically from Kutessay II. The KRP was the only hard rock plant to produce all rare earth elements outside of China, producing 120 different metals, alloys, and oxides. For over 30 years, Kutessay II produced 80% of the rare earth metals for the former Soviet Union.

We seek safe harbour.

FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, use of proceeds from the Offering, the completion of the Offering, the continued advancement of the company's general business development, research development and the company's development of mineral exploration projects. When used in this press release , the words “will”, “shall”, "anticipate", "believe", "estimate", "expect", "intent", "may", "project", "plan", "should" and similar expressions may identify forward-looking statements. Although Stans Energy Corp. believes that their expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statement. Important factors that could cause actual results to differ from these forward-looking statements include the potential that fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators.




Contact:
Stans Energy Corp
Robert Mackay
President & CEO
robert@stansenergy.com
647-426-1865
or
David Vinokurov
Manager, Investor Relations
david@stansenergy.com
647-426-1865

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To: LoneClone who wrote (91842)2/28/2012 8:35:42 PM
From: LoneClone
   of 108482
 
Copper Fox reports 2011 annual financial results and a corporate update




finance.yahoo.com

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To: LoneClone who wrote (91843)2/28/2012 8:40:33 PM
From: LoneClone
   of 108482
 
Guyana Goldfields Announces New Gold Discovery at Aranka

5 hours ago



finance.yahoo.com

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To: LoneClone who wrote (91844)2/29/2012 8:48:22 AM
From: LoneClone
   of 108482
 
Technicals, seasonal patterns suggest buying base metals
don vialoux Special to Globe and Mail Update
Published Tuesday, Feb. 28, 2012 6:05PM EST Last updated Wednesday, Feb. 29, 2012 6:50AM EST

theglobeandmail.com

The metals and mining sector has two periods of seasonal strength during the year, from the end of October to the end of December and from the end of February to the end of May. The latter period is the better of the two. Average gain per period during the past 20 years is 7.5 per cent.

A major reason for strength during the February to May period is increasing seasonal demand for base metals. Demand for copper ( HG-FT3.920.0090.23%), zinc, lead, nickel increases each spring with the spring construction ramp up and the traditional new car purchase season.

More related to this story Demand for base metals is rising this year thanks to a recovery in world economies, particularly in North America, Japan, China, India and emerging nations. Partially offsetting this is an anticipated decline in Europe.

The focus is on increasing demand from China. China currently consumes 40 per cent of the world’s copper. China’s economic growth recently has slowed to approximately an 8.5 per cent annual rate. However, the People's Bank of China announced nearly two weeks ago that reserve requirements for China’s major banks have been reduced, signaling an important change in monetary policy. The Chinese government is intent on adding economic stimulus. Incremental economic growth in China will have an incremental impact on the demand for the metals and mining sector.

On the charts, the S&P/TSX Global Mines and Metals index at 1,193.60 has a positive and improving technical profile. Intermediate trend is up. A break above 1,258.22 completes a bullish reverse head-and-shoulder pattern. The Index recently bounced from near its 50-day moving average at 1,159.60 and moved above its 200-day moving average at 1184.57 last week. Strength relative to the S&P/TSX composite index has been positive since the beginning of October. Short-term momentum indicators began to recover from oversold levels last week. Preferred strategy is to accumulate equities and exchange traded funds at current or lower prices for a seasonal trade until May.

Preferred investment choices range from exchange traded funds to high quality, base metal producer stocks including Freeport McMoran Copper & Gold ( FCX-N43.660.350.81%), Teck Resources ( TCK.B-T40.860.521.29%), Inmet Mining ( IMN-T66.980.751.13%) and Hudbay Mining ( HBM-T12.06-0.16-1.31%). Exchange traded funds in the sector trading in Canadian Dollars include the Claymore S&P /TSX Global Mining ETF ( CMW-T20.780.140.68%) and the BMO Equally Weighted Global Base Metals ETF ( ZMT-T17.000.020.12%). In addition, Horizons offers a double leveraged product, the Horizons Global Metals Bull ( HMU-T11.700.030.26%). All show similar technical patterns.







Don Vialoux is the author of free daily reports on equity markets, sectors, commodities and Exchange Traded Funds. . Daily reports are available at www.timingthemarket.ca/. He is also a research analyst for Horizons Investment Management Inc. All of the views expressed herein are his personal views although they may be reflected in positions or transactions in the various client portfolios managed by Horizons Investment Management.


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To: LoneClone who wrote (91845)2/29/2012 7:53:31 PM
From: LoneClone
   of 108482
 
Verde Potash Files Updated Preliminary Economic Assessment

Press Release: Verde Potash Plc – 13 hours ago

finance.yahoo.com




Improved Recovery, Accelerated Expansion and 4 Mtpy Production Scenario

TORONTO , Feb. 29, 2012 /CNW/ - Verde Potash Plc (TSX-V: NPK.V - News) ("Verde" or the "Company") is pleased to report the filing on SEDAR of its Preliminary Economic Assessment ("PEA ") for the production of conventional potash: potassium chloride ("KCl").

"Verde's KCl project has a capital expenditure ("Capex") lower than most proposed greenfield projects, being comparable in cost to brownfield expansions. Given its open pit nature, construction is expected to take 2 years and ramp up to full production expected to be measured in weeks, versus underground potash mines that take around a decade from construction to full production," said Cristiano Veloso, President & CEO.

During the process of final assembly of the PEA, optimizations were conducted which provided improved results to those announced on January 31 , 2012. The key modifications were the reduction in time between production phases to 2 years, achievement of slightly better recoveries, use of contract mining for Phase 1 of production reducing upfront Capex and the study of an upside production scenario of 4 million tonnes per year KCl production ("Mtpy"). The PEA was prepared by SRK Consulting ("SRK") for Verde's wholly-owned Cerrado Verde Project ("Cerrado Verde" or the "Project") located in Minas Gerais State, Brazil .

Key Economic Highlights

Base CaseScenario
Total Production: 3 Mtpy
Upside Case Scenario
Total Production: 4 Mtpy
Phase 1:
0.6 Mtpy
Phase 2:
+ 1.0 Mtpy
Phase 3:
+1.4 Mtpy
Phase1:
1.0 Mtpy
Phase 2:
+ 1.5 Mtpy
Phase 3:
+ 1.5 Mtpy
Capex per Phase (USD million) 598 732 1,008 868 1,120 1,105
Capex for Total Production (USD million)
(excludes sustaining capital)
2,338 3,095
Operating Costs (USD/t KCl) 285 289
IRR (%) 27 27
After Tax NPV (USD million),
at 10% discount rate
3,367 4,359


The PEA was based on the following assumptions:

  • Production of 100% granular fertilizer grade KCl (60% K2O).
  • Base Case Scenario - Total Production of 3.0 Mtpy of granular KCl in three phases: 0.6 Mtpy (start up: 2015), 1.6 Mtpy (start up: 2017), 3.0 Mtpy (start up: 2019).
  • Upside Case Scenario - Total Production of 4.0 Mtpy of granular KCl in three phases: 1.0 Mtpy (start up: 2015), 2.5 Mtpy (start up: 2017), 4.0 Mtpy (start up: 2019).
  • All Capex figures are incremental to the previous phase(s).
  • A total planned production life of 30 years for the 3.0 Mtpy scenario, and 28 years for the 4.0 Mtpy scenario.
  • 100% equity funding.
  • Exchange rate of $1 USD=$1.8 BRL.
  • A 25% contingency applied to the Capex.
Improved Recovery

Process recoveries have increased consistently over the last 2 years as it advanced from laboratory to semi-commercial scale. Recovery increased from 66.8% to 70%.

Accelerated expansion

Verde, SRK and consultants have decided to change the time between production phases from 4 and 5 years to 2 years.

Contract Mining

The PEA assumes the use of contract mining for phase 1 of the operation to eliminate the upfront cost of acquiring a mining fleet.

Market study

The Company has completed a market study based on information provided by CRU International ("CRU") and Agroconsult Consultoria & Marketing on the selling price of granular KCl, taking into account the total impact of transportation costs of competitive products. On top of the price charged by the producer at mine gate, Brazilian blenders pay approximately US $173-249/tonne to import KCl from Canada to their individual facilities.

Product pricing for the market study is derived from the granular KCl CFR Brazil Price Forecast provided by CRU International Report, 2012 (in US $/tonne):

Year 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
CFR Brazil 470 470 480 495 545 590 635 700 650 620 605 605
Freight Costs to Brazil 33 33 33 33 33 33 33 33 33 33 33 33
FOB Vancouver 437 437 447 462 512 557 602 667 617 587 572 572


FOB: Free on Board;

CFR: Product costs and freight to a port of destination, excluding insurance.

The prices of granular KCl are generally higher than standard KCl (difference of approximately US $15 per tonne) due to steeper production costs (source: Ferticon.com, 2012). In the second half of 2011, granular KCl price CFR Brazil was US $550 . For greater detail on the market study, please refer to the PEA.

Resource Base

Verde's current mineral resource estimate:

Cut-off grade (% K2O) Tonnage (Mt) Average Grade (% K2O)
Total Indicated 7.5 71.08 9.22
Total Inferred 7.5 2,763.80 8.91


Next Steps

Verde is currently working towards a definitive feasibility study for KCl production, which is expected to be completed by the end of 2012.

Technical Report

A copy of the full NI 43-101 Technical Report reporting the PEA has been filed on SEDAR at www.sedar.com along with this release.

The scenarios presented in the PEA are preliminary in nature and make use of Inferred Mineral Resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves. Mineral Resources which are not mineral reserves do not have demonstrated economic viability. There is no certainty that the Preliminary Economic Assessment will be realized.

Qualified Person

All scientific and technical disclosures in this press release have been prepared under the supervision of Neal Rigby and Robert Bowell of SRK Consulting who are Qualified Persons within the meaning of National Instrument 43-101.

About SRK Consulting

SRK Consulting ("SRK") is an independent, global consulting practice that provides focused advice and solutions to clients, mainly from earth and water resource industries. For mining projects, SRK offers services from exploration through feasibility, mine planning, and production to mine closure. Formed in 1974, SRK now employs more than 1,000 professionals internationally in 38 permanent staffed offices on 6 continents.

About Verde Potash

Verde is a fertilizer exploration and development company; it was founded and is led by Brazilians. Verde is developing the Cerrado Verde project in Brazil , a source of potash-rich rock from which the Company plans to produce a potash fertilizer product. Founded as Amazon Mining Holding Plc in 2005, the Company changed its name to Verde Potash Plc in April 2011 to better reflect its core business.

About the Cerrado Verde Potash Project

Cerrado Verde is a unique project: 1) its high grade potash rock outcrops and is amenable to strip mining, allowing fast construction of a scalable operation; 2) it is located in the midst of the world's third largest and fastest growing fertilizer market; 3) it connects to Brazil's largest fertilizer distribution districts via existing and high quality infrastructure.



For additional information please contact:



Cautionary Language and Forward Looking Statements


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.


THIS NEWS RELEASE CONTAINS CERTAIN "FORWARD LOOKING STATEMENTS", WHICH INCLUDE BUT ARE NOT LIMITED TO, STATEMENTS WITH RESPECT TO THE RESULTS OF THE PEA FOR THE PRODUCTION OF CONVENTIONAL POTASH, ANTICIPATED PRODUCTION LEVELS AND TIMING OF COMMENCEMENT OF PRODUCTION, LONG TERM KCl PRICES, PRODUCTION LIFE, COSTS AND COMPLETION OF A FEASIBILITY STUDY FOR KCl.


FORWARD LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS WHICH MAY CAUSE THE ACTUAL RESULTS TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS EXPRESSED OR IMPLIED BY SAID STATEMENTS. SUCH FACTORS INCLUDE A MATERIAL CHANGE IN BRAZIL'S K2O CONSUMPTION, GOVERNMENT REGULATIONS OF MINING OPERATIONS, ENVIRONMENTAL RISKS, RECLAMATION EXPENSES, TITLE DISPUTES OR CLAIMS, LIMITATIONS OF INSURANCE COVERAGE, FLUCTUATION LAB AND CONSULTANT AVAILABILITY, MATERIAL CHANGE IN COMPANY FINANCES, FUTURE FINANCINGS AND OTHER FACTORS DISCLOSED UNDER THE HEADING "RISK FACTORS" IN THE COMPANY'S CURRENT ANNUAL INFORMATION FORM AVAILABLE ON SEDAR AT WWW.SEDAR.COM. THERE CAN BE NO ASSURANCES THAT FORWARD-LOOKING STATEMENTS WILL PROVE TO BE ACCURATE, AS ACTUAL RESULTS AND FUTURE EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SAID STATEMENTS. ACCORDINGLY, READERS SHOULD NOT PLACE UNDUE RELIANCE ON FORWARD-LOOKING STATEMENTS. THE COMPANY DOES NOT INTEND TO UPDATE FORWARD LOOKING STATEMENTS UNLESS REQUIRED BY LAW.

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