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Atico Produces 4.46 Million Pounds of Cu and 2,732 Ounces of Au in Second Quarter 2021 and Provides Corporate Update

VANCOUVER, British Columbia, July 22, 2021 (GLOBE NEWSWIRE) — Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTCQX: ATCMF)…

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VANCOUVER, British Columbia, July 22, 2021 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTCQX: ATCMF) announces its operating results for the three months ended June 30, 2021 from its El Roble mine. Production for the quarter totaled 4.46 million pounds of copper and 2,732 ounces of gold in concentrates, a decrease of 10% for copper and no significant change for gold, over the same period in 2020.

“The El Roble mine performed within expectations in almost all metrics despite a very challenging in country situation cause by unprecedented protests along with extreme weather conditions during this period. So far in the third quarter we are seeing an improvement in country and will continue to closely monitor all developments,” said Fernando E. Ganoza, CEO. “For the second half of the year, we will continue to look for opportunities to further optimize the operation while aiming to deliver on guidance. At the current metal price environment, the Company anticipates robust financials for the second half of the year.”

Second Quarter Operational Highlights

  • Production of 4.46 million pounds of copper contained in concentrates; a decrease of 10% over Q2 2020.
  • Production of 2,732 ounces of gold contained in concentrates; no significant change over Q2 2020.
  • Average processed tonnes per day of 892, no significant change over Q2 2020.
  • Copper head grade of 3.20%, a decrease of 5% over Q2 2020.
  • Gold head grade of 2.01 grams per tonne; no significant change over Q2 2020.
  • Copper and gold recovery of 92.4% and 56.9%; no significant change for copper and an increase of 6% for gold over Q2 2020.

Second Quarter Operational Review

Overall production was in line with Company budget for the second quarter despite extreme weather conditions resulting in less than expected processed tonnes. The decrease in copper production is mainly explained by the decrease in processed ore along with a slight decrease in head grade over the same period last year. The gold output slightly improved due to an improvement in gold recovery relative to Q2-2020. The operation remains on track to deliver on set guidance throughout the remainder of the year.

The Company continues to closely monitor developments around the COVID-19 pandemic and continues to maintain strict preventative measures at the El Roble mine site, La Plata project, as well as our corporate offices to safeguard the health of its employees, while continuing to operate effectively and responsibly in its communities.

Second Quarter Operational Details

 Q2 2021
Total
Q2 2020
Total
% Change
Production (Contained in Concentrates)   
Copper (000s pounds)4,4624,952-10%
Gold (ounces)2,7322,733Nil
Mine   
Tonnes of ore mined71,43676,825-7%
Mill   
Tonnes processed68,23871,804-5%
Tonnes processed per day892903-1%
Copper grade (%)3.203.38-5%
Gold grade (g/t)2.012.02Nil
Recoveries   
Copper (%)92.692.7Nil
Gold (%)62.058.66%
Concentrates   
Copper and Gold Concentrates (dmt)10,00210,828-8%
    
Payable copper produced (000s lbs)4,6164,704-10%

Note: Metal production figures are subject to adjustments based on final settlement. The reported results are preliminary in nature and are awaiting independent lab verification.

Concentrate Inventory

The number of shipments the Company can export in any given quarter depends on several variables some of which the Company does not control, hence there may be an inherent variability in tonnes shipped quarter to quarter.

 Q2 2021 Total
Amounts in dry metric tonnes 
Opening inventory4,788
Production10,002
Sales7,812
Number of shipments1
Adjustment106
Closing inventory7,084

Note: Concentrate figures are subject to adjustments based on final settlement.

Corporate Update

The Company is currently in the process of renewing the title on its claims hosting the El Roble property which under the current agreement are set to expire in January 2022. The renewal process was started two years prior to expiry in January 2020 with a submission to the Colombian National Mining Agency in accordance with governing laws and is currently at an advanced stage. The Company believes it has followed and fulfilled all of the renewal requirements at this stage.

In a separate process, the Company continues to receive claims from the Colombian National Mining Agency related to payment of copper royalties, despite the fact that the matter is before the tribunal. For more details please refer to Company’s previous news release announced on April 26, 2018. The Company, based on the advice of its Colombian legal counsel, continues to maintain its position that these claims lack merit and are in violation of Colombian law.

The Company will continue to advance these two separate processes and will be providing updates on their progress in due course.

El Roble Mine

The El Roble mine is a high grade, underground copper and gold mine with nominal processing plant capacity of 1,000 tonnes per day, located in the Department of Choco in Colombia. Its commercial product is a copper-gold concentrate.

Since obtaining control of the mine on November 22, 2013, Atico has upgraded the operation from a historical nominal capacity of 400 tonnes per day.

El Roble has Proven and Probable reserves of 1.00 million tonnes grading 3.02% copper and 1.76 g/t gold, at a cut-off grade of 1.3% copper equivalent as of September 30th, 2020. Mineralization is open at depth and along strike and the Company plans to further test the limits of the deposit.

On the larger land package, the Company has identified a prospective stratigraphic contact between volcanic rocks and black and grey pelagic sediments and cherts that has been traced by Atico geologists for ten kilometers. This contact has been determined to be an important control on VMS mineralization on which Atico has identified numerous target areas prospective for VMS type mineralization occurrence, which is the focus of the current surface drill program at El Roble.

Qualified Person

Mr. Thomas Kelly (SME Registered Member 1696580), advisor to the Company and a qualified person under National Instrument 43-101 standards, is responsible for ensuring that the technical information contained in this news release is an accurate summary of the original reports and data provided to or developed by Atico.

About Atico Mining Corporation
Atico is a growth-oriented Company, focused on exploring, developing and mining copper and gold projects in Latin America. The Company generates significant cash flow through the operation of the El Roble mine and is developing its high-grade La Plata VMS project in Ecuador. The Company is also pursuing additional acquisition of advanced stage opportunities. For more information, please visit www.aticomining.com.

ON BEHALF OF THE BOARD

Fernando E. Ganoza
CEO
Atico Mining Corporation

Trading symbols: TSX.V: ATY | OTC: ATCMF

Investor Relations
Igor Dutina
Tel: +1.604.633.9022

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.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ‘‘U.S. Securities Act’’), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.

Cautionary Note Regarding Forward Looking Statements

This announcement includes certain “forward-looking statements” within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation the use of net proceeds, are forward-looking statements. Forward- looking statements involve various risks and uncertainties and are based on certain factors and assumptions. 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. Important factors that could cause actual results to differ materially from the Company’s expectations include uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs; the need to obtain additional financing to maintain its interest in and/or explore and develop the Company’s mineral projects; uncertainty of meeting anticipated program milestones for the Company’s mineral projects; and other risks and uncertainties disclosed under the heading “Risk Factors” in the prospectus of the Company dated March 2, 2012 filed with the Canadian securities regulatory authorities on the SEDAR website at www.sedar.com

Non-GAAP Financial Measures

The items marked with a "(1)" are alternative performance measures and readers should refer to Non-GAAP Financial Measures in the Company's Management's Discussion and Analysis for the nine months ended September 30, 2016 as filed on SEDAR and as available on the Company's website for further details.


Today’s News

Phoenix Gold Resources Intersects 47.79 M of 0.85% Copper Successfully Completing Initial Drilling Phase

Vancouver, British Columbia – TheNewswire – October 12, 2021 – Phoenix Gold Resources Corp. (the "Company") (TSXV:PXA) (OTC:PGRCF) (Frankfurt:5DE)…

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Vancouver, British Columbia – TheNewswire - October 12, 2021 – Phoenix Gold Resources Corp. (the "Company") (TSXV:PXA) (OTC:PGRCF) (Frankfurt:5DE) is pleased to provide initial assay results from 100 of 300 samples collected from the core in diamond drill holes YH21-04, -06, -08 and -09 selected for obvious massive sulphide mineralization.  The diamond drill holes were completed as part of the Company’s successful first phase of drilling on the York Harbour Copper-Zinc-Silver Project situated 27 kilometres west of Corner Brook, Newfoundland.

Highlights intersections from initial assay results:

  • - YH21-04 with 9.51 m of 1.69% copper, 125.14 gpt cobalt, 0.13% zinc, and 1.43 gpt silver

(including 1.54 m of 5.2% copper, 287.12 gpt cobalt, 0.07% zinc, and 2.57 gpt silver)

  • - YH21-06 with 47.79 m of 0.85% copper, 91.82 gpt cobalt, 0.57% zinc and 1.53 gpt silver

(including 1.60 m of 9.39% copper, 645.44 gpt cobalt, 0.18% zinc, and 6.9 gpt silver)

(including 5.80 m of 3.52% copper, 283.03 gpt cobalt, 0.09% zinc, and 2.80 gpt silver)

  • - YH21-08 with 6.6 m of 0.62% copper, 66.92 gpt cobalt, 0.65% zinc and 3.37 gpt silver

    - YH21-09 with 9.54 m of 1.69% copper, 238.73 gpt cobalt, 0.11% zinc and 2.83 gpt silver

The drilling program was successful in validating historical drilling results with 6 of the 9 drill holes intersecting massive sulphide mineralization and suggesting even further mineralization extending beyond the historical ‘A’, ‘G’ and ‘H’ zones. Two diamond drill holes encountered a wide fault zone, and a third hole intersected a section of the 400 Level adit and was not completed to its intended depth.  

Drill hole YH21-09 is especially significant since this drill hole was collared to intersect the 'A' zone at depth, but immediately intersected massive sulphide mineralization at the bedrock surface. This intercept indicates that there is significant exploration potential for discovering additional massive sulphide mineralization both along strike and beneath the upper mined portion of the 'A' zone.

The following table summarizes the intervals and weighted average grades for the 100 samples that were selected for their identified massive sulphide mineralization within the 4 drill holes.  Results for the remaining 200 drill core samples that include further visual sulphide mineralization are anticipated in the next few weeks.  

DDH

From

To

Interval

Copper

Cobalt

Zinc

Silver

Target Zone

No.

(m)

(m)

(m)

(%)

(gpt)

(%)

(gpt)

 
                 

YH21-04

180.03

189.54

9.51

1.69

125.14

0.13

1.43

H Zone

including

180.03

182.00

1.97

3.68

257.80

0.08

3.59

 

including

188.00

189.54

1.54

5.20

287.12

0.07

2.57

 

and

196.38

198.12

1.74

0.49

57.26

1.63

0.84

 

DDH
(No.)

From
(m)

To
(m)

Interval
(m)

Copper
(%)

Cobalt
(gpt)

Zinc
(%)

Silver
(gpt)

Target Zone

YH21-06

146.26

194.05

47.79

0.85

91.82

0.57

1.53

H Zone

including

146.26

148.06

1.80

1.19

67.00

5.09

13.47

 

including

152.53

154.85

2.32

0.46

48.29

5.06

2.65

 

including

178.35

179.95

1.60

9.39

645.44

0.18

6.90

 

including

178.35

184.15

5.80

3.52

283.03

0.09

2.80

 

including

179.95

193.20

13.25

1.30

127.01

0.06

1.19

 
                 

YH21-08

122.30

128.90

6.60

0.62

66.92

0.65

3.37

G Zone

including

122.30

125.25

2.95

0.81

103.12

0.50

3.34

 

including

127.25

128.90

1.65

0.61

36.34

1.20

4.95

 
                 

YH21-09

5.00

14.54

9.54

1.69

238.73

0.11

2.83

A Zone


The above intervals are drilling lengths, not true widths, because the true orientation of the mineralization has not yet been established.

It is interesting to also note that there are significantly elevated cobalt values, ranging from less than 100 to 918 ppm, commonly associated with the higher copper grades.  More studies will be carried on this valuable accessory element once the balance of the Phase 1 analytical results have been received.

Andrew Lee, President and CEO commented “As we hoped, the preliminary assay results from our Phase 1 drilling program have successfully demonstrated the copper potential at York Harbour and validated near-surface mineralization. The results from the remaining 200 drill core samples which are expected shortly, will further enhance our knowledge and understanding of the project as we enter Phase 2 drilling.”

QA / QC Comments

Three hundred Phase 1 diamond drill core samples of sawn core have been collected from core lengths usually varying from 0.3 to 1.50 m depending upon geological and mineralogical constraints.  Of this total, one hundred core samples were initially delivered to Activation Laboratories (“ActLabs”) in Ancaster, Ontario, an ISO/IEC-accredited laboratory.  There they were crushed to a nominal minus 2 mm, split into representative sub-samples and then pulverized to at least 95% minus 105 microns before collecting sub-sample pulps from each of the core samples.

All sub-sample pulps were initially analyzed for 36 elements using ICP QC procedures which included fusing with Na2O2.  The fused samples were then dissolved in purified water and acidified with concentrated nitric and hydrochloric acids. The solutions were then measured by an ICP.  Samples are analyzed with a minimum of 10 certified reference materials, and every 10th sample was prepared and analyzed in duplicate plus a blank is prepared every 30 samples and analyzed.  In addition, a 5 g sub-sample pulp for each core sample was analyzed for gold using fire assay fusion techniques with an atomic absorption finish (‘FA/AA’).  On each tray of 42 samples there is two blanks, three sample duplicates and 2 certified reference materials, one high and one low (QC 7 out of 42 samples).

Based upon the initial ICP results, any element returning predetermined over-limit values, specifically for copper, zinc, silver and gold, were automatically assayed using conventional assay procedures.  There were no over limit gold values but there were several copper, zinc and silver over- limit ICP results.  For each of these samples a 5 g sub-sample was split and assayed using conventional fire assay procedures with an atomic absorption finish (‘FA/AA’).  The laboratory QA/QC procedures for these samples were the same as for the previous gold FA/AA analyses.

J.D. Blanchflower, P. Geo. is a qualified person in accordance with National Instrument 43-101 and has reviewed and approved the scientific and technical information contained in this news release.

For further information contact:

Andrew Lee CEO, President and Director

Telephone: 778-302-2257 | Email: [email protected]  

Website: www.phoenixgoldresources.ca  

1518 – 800 Pender Street W, Vancouver, BC, Canada V6C 2V6

 

Cautionary Statement Regarding Forward-Looking Information

 

This news release may contain “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking statements herein include but are not limited to statements relating to the prospects for development of the Company's mineral properties, and are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward looking statements. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements. Readers are cautioned not to put undue reliance on these forward-looking statements. 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 press release.

 

Copyright (c) 2021 TheNewswire - All rights reserved.

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Today’s News

CopperBank Shareholders Overwhelmingly Approve Long Term Incentive Plan at Special Meeting; Leadership Team Additions Announced

VANCAOUVER, BC / ACCESSWIRE / October 15, 2021 / CopperBank Resources Corp. ("CopperBank" or the "Company") (CSE:CBK)(OTC PINK:CPPKF)(FRANKFURT:9CP) is…

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VANCAOUVER, BC / ACCESSWIRE / October 15, 2021 / CopperBank Resources Corp. ("CopperBank" or the "Company") (CSE:CBK)(OTC PINK:CPPKF)(FRANKFURT:9CP) is pleased to announce that earlier today shareholders of Copperbank voted at the special meeting of shareholders (the "Meeting") to approve the long term incentive plan of the Company (the "LTIP"), as further described in the management information circular of the Company dated September 14, 2021, with approximately 98% of votes cast in favour of the new LTIP. Additionally, the company is pleased to announce key appointments to the senior leadership team.

As previously announced in the Company's September 2, 2021 press release, the board of directors of CopperBank approved grants of 9,650,000 stock options to eligible participants under the LTIP, which grant was subject to the approval of the LTIP by shareholders. The grant, which will be effective as of today's date, permits each holder to purchase one common share of the Company for each option held at a price of $0.40 for a period of three years.

Leadership Team Appointments

The Company is also pleased to announce that Graham Richardson, Thomas Bissig and Zach Allwright will be joining the leadership team as Chief Financial Officer, Vice President of Exploration, and Vice President of Projects and Evaluations, respectively. Paul Harbidge, President and Chief Executive Officer, commented, "I am very excited to welcome Graham, Thomas and Zach to the CopperBank team as we work on advancing our exciting copper projects in the world-class mining districts of Arizona and Nevada. It is a testament to the quality of the projects that we have been able to attract three key senior individuals and I look forward to leveraging their experience and expertise as we work to unlock the value inherent in the CopperBank portfolio."

Mr. Graham Richardson joined the Company on October 15, 2021, as Chief Financial Officer and is a Canadian CPA with over 10 years of finance experience in the mining sector and a proven track record of adapting and partnering with various levels of organizations to achieve desired outcomes. In his most recent role as Senior Director, Finance and Accounting at Fortuna Silver Mines Inc., Mr. Richardson was closely involved in the financial due diligence and integration activities in connection with the acquisition of Roxgold, while also being responsible for the delivery of the quarterly reports and oversight of the finance function and Vancouver Corporate Office. Previously, he was the Assistant Controller, North America at Newmont, following the acquisition of Goldcorp in April 2019. Prior to his role with Newmont, he was the Director, Finance Performance Management at Goldcorp after joining in 2016 and holding progressively senior finance roles within the organization. Mr. Richardson started his career with Deloitte Touche Tohmatsu Limited in their mining practice in Vancouver, and subsequently Melbourne, where he gained diverse experience working with operations across Canada, Australia, USA, Mexico and West Africa. Mr. Richardson has a Bachelor of Commerce in Accounting from the University of British Columbia, Sauder School of Business.

Dr. Thomas Bissig joined the Company on October 1, 2021, as the Vice President of Exploration. Dr. Bissig is a geologist and geochemist with more than 23 years of experience in exploration and applied research on porphyry and epithermal deposit types across the Americas. He most recently worked as a consulting geoscientist providing services ranging in scale from orebody knowledge to regional exploration. From March 2017 to February 2020 he held the position of Director, Geochemistry for Goldcorp/Newmont providing subject matter expertise to exploration teams across the Americas. From 2008 to 2017 he was a senior research associate at the Mineral Deposit Research Unit at the University of British Columbia (Vancouver, Canada) where he was responsible for multiple gold and copper research programs and exploration, focused in the Andes, British Columbia, Nevada and Eastern Europe. Dr. Bissig was also a Professor at the Universidad Catolica del Norte in Antofagasta, Chile from 2004 to 2007 after graduating in 1997 from the Swiss Federal Institute of Technology (ETH) in Zürich with a diploma in Earth Sciences. Dr. Bissig carried out his PhD research at Queen's University in Kingston (Ontario, Canada) on the metallogeny of the El Indio epithermal belt in Chile and Argentina, graduating in 2001.

Mr. Zach Allwright joined the company on October 15, 2021, as the Vice President of Projects and Evaluations. He is a skilled mining professional with 15 years of diversified international experience, specializing in asset optimization and technical evaluations. In his most recent role as Director, North America for Mining Plus Consulting (part of the Byrnecut Group from Australia), he successfully delivered an extensive range of technical studies and asset evaluations in team environments. Notable engagements include the delivery of technical advisory to GT Gold (supporting the subsequent acquisition by Newmont in May 2021), facilitating the mining technical due diligence for Goldcorp culminating in the Newmont/Goldcorp merger in April 2019, leading the transformation of Lac Des Illes mine through the implementation of sub-level caving 2015-2018 and advancing the Pumpkin Hollow (Nevada Copper) project from an optimized concept to first production between 2016 and 2018. Mr. Allwright (P.Eng) holds a Mining Engineering degree from the Western Australian School of Mines and an MBA from Curtin Graduate School of Business.

About CopperBank

CopperBank is a Canadian exploration company focused on advancing two copper projects in The United States of America. The Company trades on the Canadian Securities Exchange under the symbol "CBK".

For additional information please contact:

Paul Harbidge, President and Chief Executive Officer

CopperBank Resources Corp.
Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2

Phone: 778-987-2761
E-mail: [email protected]
Website: www.copperbankcorp.com

SOURCE: CopperBank Resources Corp.



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Today’s News

Pure Gold Mining Inc. Closes Previously Announced Non-Brokered Financing of Approximately C$3.47 Million

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION…

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THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

VANCOUVER, British Columbia, Oct. 15, 2021 (GLOBE NEWSWIRE) -- Pure Gold Mining Inc. (TSXV:PGM LSE:PUR) (“PureGold” or the “Company”) is pleased to announce that it has closed the non-brokered private placement (the “Offering”) announced on October 5, 2021.

Pursuant to the Offering, the Company issued a total of 3,307,619 units of the Company (the “Units”) to AngloGold Ashanti Limited (“AngloGold”) at a price of C$1.05 per Unit, for aggregate gross proceeds of approximately C$3,473,000. The Offering brings AngloGold’s ownership percentage in the Company to 14.96% of the issued and outstanding common shares on a non-diluted basis upon completion of the Offering.

Each Unit consists of one common share of the Company (a “Unit Share”) and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant is transferrable and entitles the holder to acquire one common share of the Company until April 15, 2023, at a price of C$1.36.

Due to its share ownership, AngloGold is considered a “related party” of Pure Gold and, accordingly, the Offering constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 (“MI 61-101”). The Offering was exempt from the minority approval requirement of Section 5.6 and the formal valuation requirement of Section 5.4 of MI 61-101 as neither the fair market value of the Offering, nor the fair market value of the consideration of the Offering, exceeded 25% of Pure Gold’s market capitalization. A material change report in connection with the Offering will be filed less than 21 days before the closing of the Offering. This shorter period was reasonable and necessary in the circumstances as the Company wished to complete the Offering in a timely manner.

The net proceeds received from the Offering will be used to fund the continued ramp up of operations at its 100%-owned PureGold Mine Project located in Red Lake, Ontario, underground drilling and development of the high-grade 8 zone, and for general corporate purposes. The securities issued under the Offering have a hold period of four months and one day from closing, expiring on February 16, 2022.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold to U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available.

ABOUT PURE GOLD MINING INC.

PureGold is a growth company, located in the very heart of Red Lake, Canada. Our objective is pure and simple. To develop a highly-profitable long life gold mining company, becoming Canada’s next iconic gold producer. Our plan is very disciplined, very methodical and financially sound. To expand organically, and develop PureGold’s multi-million ounce high grade gold asset incrementally, step-by-step, using a phased mining development plan to deliver maximum return.

ON BEHALF OF THE BOARD
"Darin Labrenz"
Darin Labrenz, President & CEO

For further information:
Adrian O’Brien
Director, Marketing and Communications
604-809-6890
[email protected]

Forward-Looking Information

This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects and the expected use of proceeds of the Offering. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances, management's estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.


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