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News Article | May 10, 2017
Site: www.prnewswire.com

Highlights for 2017 and to date (All quoted figures in CAD$) For the three-month period ended March 31, 2017, the Company reported a net loss of $2.1 million or ($0.01) per share.  Proceeds from all of the diamond sales during the first quarter were credited against Property, Plant, and Equipment, net of operating costs, rather than recorded as revenue as the diamonds sold were produced prior to declaring commercial production on March 1, 2017. The Company undertook three sales of diamonds during the first quarter of 2017 through its broker in Antwerp, Belgium, and a fourth sale was completed in May.  The Company expects to begin recording revenue starting from the fifth sale which occurs in mid-June. The following table summarizes the results of each sale: In the above table the Company has provided a detailed breakdown of the individual sales to illustrate the progress being made through the price discovery process. The Company does not anticipate providing this level of detail in future quarterly reports. In addition, given the variability in the diamond population between the different lobes of the 5034 kimberlite, the prices achieved at individual sales will vary depending on the mix of production and average realized prices at future sales may be lower than that achieved at past sales. At March 31, 2017, the Company had drawn US$357 million of the US$370 million Loan Facility leaving a balance of US$13 million, which will be used to cover the June and September 2017 interest payments. At March 31, 2017, the Company had cash and restricted cash totalling $77.5 million. Mountain Province President and CEO Patrick Evans commented: "Since declaring commercial production on March 1 the ramp-up has been strong and we expect to reach full production in the current quarter." Mr. Evans added: "The Company's first diamond sales took place in the midst of a perfect storm for a first-time seller with significant challenges in four areas. First, all new producers go through a 'price discovery' process as buyers of rough diamonds assess the quality and potential profitability of the new production. This process usually extends over the first six months of sales as it takes approximately six months before the first rough purchased from a new mine is sold into the polished market. We expect to be through the price discovery period in the second half of the year. "Secondly, demonetization in India caused severe liquidity challenges in the world's major diamond cutting and polishing country. Liquidity began returning to the Indian cutting centers during the first quarter and is expected to be fully restored by midyear. The lower quality production sold in the first quarter was particularly affected by this one-off event. "Thirdly, the world's two major diamond producers sold a record combined 14.2 million carats into the rough market during the first quarter. This was 58% more than their combined production during the quarter making it particularly challenging for a first-time seller introducing new product to the market. "Fourthly, the production sold during the first quarter was sourced primarily from the upper portion of the NE lobe of the 5034 kimberlite. The predominantly transitional tuffisitic kimberlite in this zone has a higher population of lower quality diamonds compared to the hypabyssal kimberlite found at depth at the NE lobe and also at the Center lobe. As a consequence, realized prices achieved during the first quarter were below the expected average for the 5034 kimberlite as a whole, but are expected to improve as more production is sourced from hypabyssal kimberlite at the Center lobe and deeper portions of the NE lobe ." At March 31, 2017, the Company was subject to maintaining a cash call reserve account balance of approximately US$27.9 million. On March 27, 2017, the lenders provided a waiver whereby the amount is now to be funded by May 31, 2017. Despite encouraging recent operating and sales results, the Company expects to require further waivers in respect of other reserve account funding requirements during 2017.  The Company is in active discussions with its lending group to defer and realign the reserve account funding requirements to reflect current market conditions.  With the benefit of additional operating and sales results, and subject to continued improvements on both fronts, the Company expects to conclude the realignment of the reserve account funding schedule by mid-2017. Subject to agreement between the Company and lenders, the $65M in restricted funds in treasury could be used to support reserve account funding. While good progress is being made, there are no assurances that the lenders will accommodate further waivers or amendments the Company will seek. Mountain Province Diamonds is a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada's Northwest Territories.  Gahcho Kué is the world's largest new diamond mine and projected to produce an average of 4.5 million carats a year over a 12 year mine life. The Gahcho Kué Project consists of a cluster of four diamondiferous kimberlites, three of which have a probable mineral reserve of 34.3 million tonnes grading 1.57 carats per tonne for total diamond content of 53.7 million carats. Qualified Person This news release has been prepared under the supervision of Carl G. Verley, P.Geo., who serves as the qualified person under National Instrument 43-101. Forward-Looking Statements This news release contains forward-looking statements under applicable Canadian and US securities regulations and legislation in which Mountain Province discusses its potential future performance. Forward-looking statements are all statements other than statements of historical facts, such as projections or expectations relating to ore grades and processing rates, production and sales volumes, cash costs, operating cash flows, capital expenditures, debt management initiatives, exploration efforts and results, development and production activities and costs, liquidity, tax rates, the impact of diamond price changes, reserve estimates, and future dividend payments. The words "anticipates," "may," "can," "plans," "believes," "estimates," "expects," "projects," "targets," "intends," "likely," "will," "should," "to be", "potential" and any similar expressions are intended to identify those assertions as forward-looking statements. Under its current project finance facility Mountain Province is not permitted to pay dividends on common stock unless and until obligations under the facility have been satisfied. The declaration of dividends is at the discretion of Mountain Province's Board of Directors, subject to restrictions under the Company's project finance facility, and will depend on Mountain Province's financial results, cash requirements, future prospects, and other factors deemed relevant by the Board. Mountain Province cautions readers that forward-looking statements are not guarantees of future performance and actual results may differ materially from those anticipated, projected or assumed in the forward-looking statements. Important factors that can cause Mountain Province's actual results to differ materially from those anticipated in the forward-looking statements include supply of and demand for, and prices of, diamonds, mine commissioning, mining sequencing, production rates, cash flow, industry risks, regulatory changes, political risks, labor relations, weather- and climate-related risks, environmental risks and other risk factors. Investors are cautioned that many of the assumptions upon which Mountain Province's forward-looking statements are based are likely to change after the forward-looking statements are made, including for example diamond prices, which Mountain Province cannot control, and production volumes and costs, some aspects of which Mountain Province may not be able to control. Further, Mountain Province may make changes to its business plans that could affect its results. Mountain Province disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.


The Company will host a conference call to discuss the results on Thursday, May 11, 2017, at 11:00 a.m. EST. Please call in 10 minutes before the conference call starts and stay on the line. Operator assistance will be available if necessary. A replay of the telephone conference will be available two hours after the completion of the call until May 19, 2017. Mountain Province Diamonds is a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada's Northwest Territories. Gahcho Kué consists of a cluster of four diamondiferous kimberlites, three of which have a probable mineral reserve of 34.88 million tonnes grading 1.57 carats per tonne for total diamond content of 54.64 million carats. Gahcho Kué is the world's largest and highest grade new diamond mine. A 2014 NI 43-101 feasibility study report filed by Mountain Province (available on SEDAR) indicates that the Gahcho Kué project has an IRR of 32.6%. Qualified Person This news release has been prepared under the supervision of Carl G. Verley, P.Geo., who serves as the qualified person under National Instrument 43-101. Forward-Looking Statements Cautionary Statement: This news release contains forward-looking statements under applicable Canadian and US securities regulations and legislation in which Mountain Province discusses its potential future performance. Forward-looking statements are all statements other than statements of historical facts, such as projections or expectations relating to ore grades and processing rates, production and sales volumes, cash costs, operating cash flows, capital expenditures, debt management initiatives, exploration efforts and results, development and production activities and costs, liquidity, tax rates, the impact of diamond price changes, reserve estimates, and future dividend payments. The words "anticipates," "may," "can," "plans," "believes," "estimates," "expects," "projects," "targets," "intends," "likely," "will," "should," "to be", "potential" and any similar expressions are intended to identify those assertions as forward-looking statements. Under its current project finance facility Mountain Province is not permitted to pay dividends on common stock unless and until obligations under the facility have been satisfied. The declaration of dividends is at the discretion of Mountain Province's Board of Directors, subject to restrictions under the Company's project finance facility, and will depend on Mountain Province's financial results, cash requirements, future prospects, and other factors deemed relevant by the Board. Mountain Province cautions readers that forward-looking statements are not guarantees of future performance and actual results may differ materially from those anticipated, projected or assumed in the forward-looking statements. Important factors that can cause Mountain Province's actual results to differ materially from those anticipated in the forward-looking statements include supply of and demand for, and prices of, diamonds, mine commissioning, mining sequencing, production rates, cash flow, industry risks, regulatory changes, political risks, labor relations, weather- and climate-related risks, environmental risks and other risk factors. Investors are cautioned that many of the assumptions upon which Mountain Province's forward-looking statements are based are likely to change after the forward-looking statements are made, including for example diamond prices, which Mountain Province cannot control, and production volumes and costs, some aspects of which Mountain Province may not be able to control. Further, Mountain Province may make changes to its business plans that could affect its results. Mountain Province disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.


News Article | May 10, 2017
Site: www.prnewswire.co.uk

Mountain Province Diamonds Inc. ("Mountain Province", the "Company") (TSX: MPVD; NASDAQ: MPVD) announced today the results for the quarter ended March 31, 2017. Highlights for 2017 and to date (All quoted figures in CAD$) For the three-month period ended March 31, 2017, the Company reported a net loss of $2.1 million or ($0.01) per share.  Proceeds from all of the diamond sales during the first quarter were credited against Property, Plant, and Equipment, net of operating costs, rather than recorded as revenue as the diamonds sold were produced prior to declaring commercial production on March 1, 2017. The Company undertook three sales of diamonds during the first quarter of 2017 through its broker in Antwerp, Belgium, and a fourth sale was completed in May.  The Company expects to begin recording revenue starting from the fifth sale which occurs in mid-June. The following table summarizes the results of each sale: In the above table the Company has provided a detailed breakdown of the individual sales to illustrate the progress being made through the price discovery process. The Company does not anticipate providing this level of detail in future quarterly reports. In addition, given the variability in the diamond population between the different lobes of the 5034 kimberlite, the prices achieved at individual sales will vary depending on the mix of production and average realized prices at future sales may be lower than that achieved at past sales. At March 31, 2017, the Company had drawn US$357 million of the US$370 million Loan Facility leaving a balance of US$13 million, which will be used to cover the June and September 2017 interest payments. At March 31, 2017, the Company had cash and restricted cash totalling $77.5 million. Mountain Province President and CEO Patrick Evans commented: "Since declaring commercial production on March 1 the ramp-up has been strong and we expect to reach full production in the current quarter." Mr. Evans added: "The Company's first diamond sales took place in the midst of a perfect storm for a first-time seller with significant challenges in four areas. First, all new producers go through a 'price discovery' process as buyers of rough diamonds assess the quality and potential profitability of the new production. This process usually extends over the first six months of sales as it takes approximately six months before the first rough purchased from a new mine is sold into the polished market. We expect to be through the price discovery period in the second half of the year. "Secondly, demonetization in India caused severe liquidity challenges in the world's major diamond cutting and polishing country. Liquidity began returning to the Indian cutting centers during the first quarter and is expected to be fully restored by midyear. The lower quality production sold in the first quarter was particularly affected by this one-off event. "Thirdly, the world's two major diamond producers sold a record combined 14.2 million carats into the rough market during the first quarter. This was 58% more than their combined production during the quarter making it particularly challenging for a first-time seller introducing new product to the market. "Fourthly, the production sold during the first quarter was sourced primarily from the upper portion of the NE lobe of the 5034 kimberlite. The predominantly transitional tuffisitic kimberlite in this zone has a higher population of lower quality diamonds compared to the hypabyssal kimberlite found at depth at the NE lobe and also at the Center lobe. As a consequence, realized prices achieved during the first quarter were below the expected average for the 5034 kimberlite as a whole, but are expected to improve as more production is sourced from hypabyssal kimberlite at the Center lobe and deeper portions of the NE lobe ." At March 31, 2017, the Company was subject to maintaining a cash call reserve account balance of approximately US$27.9 million. On March 27, 2017, the lenders provided a waiver whereby the amount is now to be funded by May 31, 2017. Despite encouraging recent operating and sales results, the Company expects to require further waivers in respect of other reserve account funding requirements during 2017.  The Company is in active discussions with its lending group to defer and realign the reserve account funding requirements to reflect current market conditions.  With the benefit of additional operating and sales results, and subject to continued improvements on both fronts, the Company expects to conclude the realignment of the reserve account funding schedule by mid-2017. Subject to agreement between the Company and lenders, the $65M in restricted funds in treasury could be used to support reserve account funding. While good progress is being made, there are no assurances that the lenders will accommodate further waivers or amendments the Company will seek. Mountain Province Diamonds is a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada's Northwest Territories.  Gahcho Kué is the world's largest new diamond mine and projected to produce an average of 4.5 million carats a year over a 12 year mine life. The Gahcho Kué Project consists of a cluster of four diamondiferous kimberlites, three of which have a probable mineral reserve of 34.3 million tonnes grading 1.57 carats per tonne for total diamond content of 53.7 million carats. Qualified Person This news release has been prepared under the supervision of Carl G. Verley, P.Geo., who serves as the qualified person under National Instrument 43-101. Forward-Looking Statements  This news release contains forward-looking statements under applicable Canadian and US securities regulations and legislation in which Mountain Province discusses its potential future performance. Forward-looking statements are all statements other than statements of historical facts, such as projections or expectations relating to ore grades and processing rates, production and sales volumes, cash costs, operating cash flows, capital expenditures, debt management initiatives, exploration efforts and results, development and production activities and costs, liquidity, tax rates, the impact of diamond price changes, reserve estimates, and future dividend payments. The words "anticipates," "may," "can," "plans," "believes," "estimates," "expects," "projects," "targets," "intends," "likely," "will," "should," "to be", "potential" and any similar expressions are intended to identify those assertions as forward-looking statements. Under its current project finance facility Mountain Province is not permitted to pay dividends on common stock unless and until obligations under the facility have been satisfied. The declaration of dividends is at the discretion of Mountain Province's Board of Directors, subject to restrictions under the Company's project finance facility, and will depend on Mountain Province's financial results, cash requirements, future prospects, and other factors deemed relevant by the Board. Mountain Province cautions readers that forward-looking statements are not guarantees of future performance and actual results may differ materially from those anticipated, projected or assumed in the forward-looking statements. Important factors that can cause Mountain Province's actual results to differ materially from those anticipated in the forward-looking statements include supply of and demand for, and prices of, diamonds, mine commissioning, mining sequencing, production rates, cash flow, industry risks, regulatory changes, political risks, labor relations, weather- and climate-related risks, environmental risks and other risk factors. Investors are cautioned that many of the assumptions upon which Mountain Province's forward-looking statements are based are likely to change after the forward-looking statements are made, including for example diamond prices, which Mountain Province cannot control, and production volumes and costs, some aspects of which Mountain Province may not be able to control. Further, Mountain Province may make changes to its business plans that could affect its results. Mountain Province disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.


Mountain Province Diamonds Inc. ("Mountain Province", the "Company") (TSX and NASDAQ: MPVD) today announced that it will release its 2017 First Quarter results on Wednesday, May 10, 2017, after the market close in Toronto and New York. The Company will host a conference call to discuss the results on Thursday, May 11, 2017, at 11:00 a.m. EST. Please call in 10 minutes before the conference call starts and stay on the line. Operator assistance will be available if necessary. A replay of the telephone conference will be available two hours after the completion of the call until May 19, 2017. Mountain Province Diamonds is a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada's Northwest Territories. Gahcho Kué consists of a cluster of four diamondiferous kimberlites, three of which have a probable mineral reserve of 34.88 million tonnes grading 1.57 carats per tonne for total diamond content of 54.64 million carats. Gahcho Kué is the world's largest and highest grade new diamond mine. A 2014 NI 43-101 feasibility study report filed by Mountain Province (available on SEDAR) indicates that the Gahcho Kué project has an IRR of 32.6%. Qualified Person This news release has been prepared under the supervision of Carl G. Verley, P.Geo., who serves as the qualified person under National Instrument 43-101. Forward-Looking Statements Cautionary Statement: This news release contains forward-looking statements under applicable Canadian and US securities regulations and legislation in which Mountain Province discusses its potential future performance. Forward-looking statements are all statements other than statements of historical facts, such as projections or expectations relating to ore grades and processing rates, production and sales volumes, cash costs, operating cash flows, capital expenditures, debt management initiatives, exploration efforts and results, development and production activities and costs, liquidity, tax rates, the impact of diamond price changes, reserve estimates, and future dividend payments. The words "anticipates," "may," "can," "plans," "believes," "estimates," "expects," "projects," "targets," "intends," "likely," "will," "should," "to be", "potential" and any similar expressions are intended to identify those assertions as forward-looking statements. Under its current project finance facility Mountain Province is not permitted to pay dividends on common stock unless and until obligations under the facility have been satisfied. The declaration of dividends is at the discretion of Mountain Province's Board of Directors, subject to restrictions under the Company's project finance facility, and will depend on Mountain Province's financial results, cash requirements, future prospects, and other factors deemed relevant by the Board. Mountain Province cautions readers that forward-looking statements are not guarantees of future performance and actual results may differ materially from those anticipated, projected or assumed in the forward-looking statements. Important factors that can cause Mountain Province's actual results to differ materially from those anticipated in the forward-looking statements include supply of and demand for, and prices of, diamonds, mine commissioning, mining sequencing, production rates, cash flow, industry risks, regulatory changes, political risks, labor relations, weather- and climate-related risks, environmental risks and other risk factors. Investors are cautioned that many of the assumptions upon which Mountain Province's forward-looking statements are based are likely to change after the forward-looking statements are made, including for example diamond prices, which Mountain Province cannot control, and production volumes and costs, some aspects of which Mountain Province may not be able to control. Further, Mountain Province may make changes to its business plans that could affect its results. Mountain Province disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.


News Article | March 3, 2017
Site: www.prnewswire.co.uk

Gahcho Kué, the world's largest new diamond mine in the last 13 years, officially began commercial production[i] today (2 March 2017). The mine, a joint venture with The De Beers Group of Companies (51 per cent) and Mountain Province Diamonds (49 per cent), is expected to produce approximately 54 million carats of rough diamonds over its lifetime.[ii] Production ramp up began on 1 August 2016 and the Official Opening Ceremony took place on 20 September 2016, with 200 guests in attendance from across Canada and around the world. Bruce Cleaver, CEO, De Beers Group, said: "Today marks a significant landmark for De Beers in Canada as Gahcho Kué becomes an important contributor to the Group's global production. That the mine has reached this landmark, on budget and ahead of schedule, is testament to the partnerships that have worked together since construction began. It's a result of these partnerships that the mine is set to deliver socio-economic benefits of more than C$5 billion to the economy of the Northwest Territories over its lifetime." Kim Truter, CEO, De Beers Canada, said: "With Gahcho Kué achieving commercial production, it successfully builds on the transformation of De Beers in Canada. General Manager Allan Rodel and his entire team are to be congratulated for completing this milestone safely and ahead of schedule during the extreme winter conditions that have taken place over the past few months." Patrick Evans, President and CEO of Mountain Province Diamonds, added: "The dedicated support of our shareholders, business partners and employees has made today's important achievement possible. Gahcho Kué is a rich diamond deposit that secures Canada's position as one of the world's leading diamond producers. Our thanks and appreciation goes to our Operating partner, De Beers Canada, for delivering the Gahcho Kué mine safely and ahead of schedule." The fly-in/fly-out remote mine site is situated approximately 280km northeast of Yellowknife in the Northwest Territories (NWT) of Canada. Comprising three open pits, the mine will employ 530 people full-time, with the majority working a two-week in/two-week out rotation. In addition to a C$440 million boost to the NWT economy through 2015, the Gahcho Kué mine will provide a further C$5.3 billion in Gross Value Added (GVA)[iii ]to the NWT now that it has reached commercial production, according to a socio-economic impact report by EY.[iv] ABOUT THE DE BEERS GROUP OF COMPANIES De Beers is a member of the Anglo American plc group. Established in 1888, De Beers is the world's leading diamond company with expertise in the exploration, mining and marketing of diamonds. Together with its joint venture partners, De Beers employs more than 20,000 people across the diamond pipeline and is the world's largest diamond producer by value, with mining operations in Botswana, Canada, Namibia and South Africa. As part of the company's operating philosophy, the people of De Beers are committed to 'Building Forever' by making a lasting contribution to the communities in which they live and work, and transforming natural resources into shared national wealth. For further information about De Beers, visit http://www.debeersgroup.com. ABOUT MOUNTAIN PROVINCE DIAMONDS Mountain Province Diamonds is a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada's Northwest Territories. Gahcho Kué is the world's largest new diamond mine. The deposit consists of a cluster of four diamond-bearing kimberlites, three of which have a probable mineral reserve of 35.4 million tonnes grading 1.57 carats per tonne for total diamond content of 55.5 million carats. The mine is projected to produce an average of 4.5 million carats a year. Mountain Province Diamonds is listed on the Toronto Stock Exchange and the NASDAQ (MPVD ). For further information about Mountain Province visit http://www.mountainprovince.com


News Article | March 1, 2017
Site: www.marketwired.com

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 1, 2017) - CRYSTAL EXPLORATION INC. (the "Company" or "Crystal") (TSX VENTURE:CEI) is pleased to report exploration plans for Crystal's 100% owned diamond bearing Muskox, Contwoyto and Hood Projects located in Nunavut, Canada. A three-phase exploration plan is in progress that includes drilling of 6 'bulls eye' ground magnetic targets and completing geophysics over 12 high priority lake and/or Electromagnetic based targets to generate additional new high priority targets. Diamond drilling and exploration work permits are granted across all Crystal project areas. During 2016, 146 till samples were processed of which 117 samples contain possible 'picked' kimberlite indicator minerals (KIM's) across Crystal's project areas. The samples cumulatively contain 7,386 possible KIM's that await microprobe analysis. Crystals projects and newly developed targets are located in the northcentral portion of the Slave craton of the northwestern Canadian shield which hosts world class diamond mines and deposits, yet remains vastly under-explored. Testament to this is Canada's and/or the Slave Cratons newest producer, the Gahcho Kue Diamond Mine which recently reported a 67.87 carat gemstone from production. New Target Drilling Program Crystal's 2017 drill program will focus on discovering new kimberlite(s) (see Figure 1). The anomalies include 5 magnetic high and 1 magnetic low and range from 125 to 225 meters in size (see example in Figure 2). The targets are primarily based on high resolution ground magnetics and elevated KIM's from pick results. The geophysics show similar geophysical signatures (magnetic highs and lows) that enabled the discovery of other diamond bearing kimberlite pipes including the Contwoyto 1, Muskox, Jericho, Jericho South, Rush, Unicorn, Voyageur and Peregrine kimberlites. Exploration Program The 2017 work program consists of three phases of exploration. Phase 1 - Spring program will involve a ground geophysics program to isolate additional high priority targets for drilling. The program may involve additional work over potential new acquisition properties. Phase 2 - Summer program focused on drill ready priority targets. Additional targets may be added pending the results of the Phase 1 program. The program will include till sampling and ground geophysics. Phase 3 - Fall drill program focused on expansion from the summer program. Figure 1 illustrates target locations and proximity of other diamond mines in the region. Figure 2 represents 1 of 3 Muskox Project targets that illustrates a compelling example high priority targets developed from KIMs, diamond indicator pick results, magnetic anomalies and conductivity anomalies. Dean Besserer, P.Geol., and Technical Advisor of Crystal Exploration Inc., commented, "The presence of diamond bearing kimberlites in this region and the quality of our targets are compelling reasons to drill Crystal's targets that were developed from the 2016 exploration program and tens of millions of dollars in historical data from the likes of De Beers Canada, Ashton Mining and Tahera Diamonds during the 1990's and 2000's." About Crystal Exploration Inc. Crystal is a Canadian diamond exploration company with Common shares listed for trading on the TSX Venture Exchange. Crystal is backed by proven and seasoned resource sector professionals who have a track record of advancing exploration projects from grassroots through to production scenarios. The technical content of this news release have been reviewed and approved by Dean Besserer, P.Geol., the Technical Advisor of the Company and a Qualified Person as defined by National Instrument 43-101. ON BEHALF OF THE BOARD OF DIRECTORS Cautionary Statement on Forward-Looking Statements This press release contains "forward-looking information", as such term is defined in applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects", "believes", "anticipates", "budget", "scheduled", "estimates", "forecasts", "intends", "plans" and variations of such words and phrases, or by statements that certain actions, events or results "may", "will", "could", "would" or "might", "be taken", "occur" or "be achieved". Forward-looking information is based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which Crystal operates, are inherently subject to significant operational, economic and competitive uncertainties and contingencies. Crystal cautions that forward-looking information involves known and unknown risks, uncertainties and other factors that may cause Crystal's actual results, performance or achievements to be materially different from those expressed or implied by such information, including, but not limited to, factors discussed in each management discussion and analysis of the Company, available on SEDAR at www.sedar.com. Although Crystal has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in forward-looking information, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward looking statements may differ materially from actual results or events. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information in this press release is made as of the date of this press release, and Crystal disclaims any intention or obligation to update or revise such information, except as required by applicable law. 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.


News Article | December 7, 2016
Site: www.marketwired.com

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 7, 2016) - CRYSTAL EXPLORATION INC. (the "Company" or "Crystal") (TSX VENTURE:CEI) is pleased to announce completion and filing of a Technical Report for its diamond projects located in Nunavut, Canada. The National Instrument ("NI") 43-101 Technical Report ("the Report") entitled 'Technical Report for the Muskox and Hood River Properties', focused on historical results, work performed during 2015 and 2016 and includes newly developed kimberlite targets within the Contwoyto and Hood River project areas. The Report was authored by Dean Besserer, P.Geol. A copy of the Report can be located at www.sedar.com. Jim Greig, President & CEO commented, "The report provides a comprehensive review of historical work, recent exploration and a 2017 exploration plan. Crystal has now identified new drill targets for potential discoveries. Lab results are pending for the Muskox Kimberlite Pipe that has demonstrated encouraging diamond grades in a large body that is open at depth. In addition, the Crystal team will continue to work with all stakeholders for a potential acquisition of the nearby Jericho Diamond Mine." The Report compiles and summarizes approximately 24 years of current and historical work completed across Crystal's project areas. The most notable historical work comes from Canamera Geological ("Canamera"), Lytton Minerals ("Lytton"), New Indigo Resources Inc. ("New Indigo"), Ashton Mining ("Ashton"), De Beers Canada Exploration Inc. ("De Beers") and Tahera Diamond Corporation ("Tahera"). In total, 72 prospective kimberlite targets were reviewed on the ground during 2016. Of the 72 which were ground truthed, 17 ground geophysical grids were completed which totaled 83.01 line kilometers of high resolution magnetics. From the 17 grids, 6 have been selected as high priority drill targets with respect to newly discovered kimberlite(s). In addition to the geophysical anomalies, numerous unsourced diamond (or kimberlite) indicator mineral ("DIM") trains have been identified on the Muskox, Muskox East (Contwoyto) and Hood River properties. The recommended 2017 exploration should include but not be limited to: Continue compiling historic data and re-interpret historic airborne geophysical surveys; Process existing kimberlite samples on hand at the SRC; Process and pick the till samples collected during the 2016 exploration program including micro-probe analysis of picked grains; Complete caustic fusion of the James River Dyke; Complete ground geophysical surveys (magnetics and electromagnetics) over priority lake based targets; and Drill the six high priority targets developed by Crystal during 2016 for the spring/summer of 2017. The Muskox kimberlite has yielded encouraging diamond results from both caustic fusion analysis and Dense Media Separation ("DMS") processed bulk samples from several sampling campaigns. The Report outlines a number of incongruent results and the known issues for the Muskox Kimberlite Pipe. This includes diamond breakage and the exclusion of diamondiferous eclogite xenoliths during specific sampling programs. This is evidenced by a 2006 caustic fusion sampling program that combined a 3,692 kilogram sample for the M2 and M1 units returning 2.69 carats above a 0.85 mm cut off. Intervals with higher stone counts correlate well with the presence of mantle xenoliths, especially eclogite xenoliths. Macrodiamond modelling was performed by Mineral Services of Vancouver in 2006 on both the M1 and M2 units. Subsets of the respective units were also modelled after the removal of the largest stones which did not fit on a lognormal distribution curve and could cause a "nugget effect". The grade prediction modelling used a cut off of 0.01 carats. The modelled grade for the M2 unit subset was 122 cpht with a range from 82 to 165 cpht. The modelled grade for the M1 unit subset was 41 cpht with a range from 28 to 52 cpht for the M2 unit subset. The results of the grade modelling from the M2 unit are significantly better than the grades indicated by the De Beers bulk sample. To view a 3D Model for the Muskox Kimberlite, please visit the following link: http://media3.marketwire.com/docs/cei1207model.pdf. Muskox is a multiphase Jurassic (173±2 Ma) kimberlite intrusion with a diameter at surface of approximately 200 meters and a total surface area of approximately 4 hectares, which is large for a kimberlite body in this part of the Slave Geological Province. It is a circular body at surface that tapers with depth. Diamonds results from the Muskox Kimberlite Pipe are now expected during early 2017. Results have been delayed due to unexpected maintenance of the Dense Media Separation ("DMS") plant at the Saskatchewan Research Council Analytical Laboratories ("SRC") in Saskatoon. In total, 31,466 kilograms of kimberlite from 27 drill holes have been sent to the SRC for macro-diamond (approximately +0.85 mm) recovery using their DMS processing plant. Crystal is a Canadian diamond exploration company with Common shares listed for trading on the TSX Venture Exchange. Crystal is backed by proven and seasoned resource sector professionals who have a track record of advancing exploration projects from grassroots through to production scenarios. The technical content of this news release have been reviewed and approved by Dean Besserer, P.Geol., the Technical Advisor of the Company and a Qualified Person as defined by National Instrument 43-101. ON BEHALF OF THE BOARD OF DIRECTORS Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


News Article | October 28, 2016
Site: www.marketwired.com

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 26, 2016) - CRYSTAL EXPLORATION INC. (the "Company" or "Crystal") (TSX VENTURE:CEI) is pleased to announce that Crystal's 2016 exploration program has identified 5 new high priority drill targets with respect to newly discovered kimberlite(s). Jim Greig, President & CEO commented, "We are very excited about the new targets identified by Crystal's geological team. Very few new, sizeable diamond bearing kimberlites have been discovered over the past ten years. These new areas for drilling were based upon greater than $50 million in historical work performed by the likes of De Beers Canada and exceptionally good interpretation and exploration performed by the Crystal exploration team." Field work at Crystal's 100% owned Muskox, Contwoyto and Hood Project areas, located in Nunavut, Canada, has now been completed. The program identified and prioritized numerous targets for the potential discovery of new kimberlite(s) during 2017. The program included prospecting and mapping; till sampling (146 samples), rock sampling (2 samples at the James River Kimberlite Dyke) and 83.01 line kilometers of ground geophysical surveying at 17 land based targets. The samples have been sent to the Saskatchewan Research Council Analytical Laboratories ("SRC") in Saskatoon for analysis. Results are expected in the fourth quarter ("Q4"), 2016. In total, 72 prospective kimberlite targets were reviewed on the ground. Of the 72 which were ground truthed, 17 ground geophysical grids were completed which totaled 83.01 line kilometers of high resolution magnetics. From the 17 grids, 5 have been selected as high priority drill targets with respect to newly discovered kimberlite(s). Images of the targets can be found on Crystal's website (www.crystalexploration.com). In addition, numerous high priority targets that are under water bodies have been targeted for a winter ground geophysical program. A target map can be viewed at the link below. Of the 5 newly developed high priority kimberlite 'bullseye' targets, 4 are magnetic highs and 1 is a magnetic low. The targets range from 125 to 225 meters in size. Other kimberlites in the area were both magnetic lows (including the Contwoyto 1, Muskox and Jericho, Jericho South and Rush kimberlites) and magnetic highs (including the Unicorn, Voyageur and Peregrine kimberlites). A NI43-101 Technical Report is expected during Q4, 2016 and will focus on the Muskox Project and will include newly developed kimberlite targets within the Contwoyto and Hood Project areas. The Report will be authored by Dean Besserer, P.Geol. To view the Kimberlite Target Locations Map, visit the following link: http://media3.marketwire.com/docs/targetlocations.jpg Whole and split core samples from the Muskox Kimberlite have now been logged and sampled. All the previously un-sampled drill core from 26 drill holes will be processed at the SRC using their Dense Media Separation ("DMS") processing plant for the purpose of recovering commercial sized (approximately +0.85 mm) diamonds. Results are expected from the Muskox Kimberlite diamond drill holes during Q4, 2016. Crystal is a Canadian diamond exploration company with Common shares listed for trading on the TSX Venture Exchange. Crystal is backed by proven and seasoned resource sector professionals who have a track record of advancing exploration projects from grassroots through to production scenarios. The technical content of this news release have been reviewed and approved by Dean Besserer, P.Geol., the Technical Advisor of the Company and a Qualified Person as defined by National Instrument 43-101. ON BEHALF OF THE BOARD OF DIRECTORS NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.


News Article | December 22, 2016
Site: www.prnewswire.co.uk

Mountain Province Diamonds Inc. ("Mountain Province", the "Company") (TSX: MPV, NASDAQ: MDM) today announced that Bruce Ramsden, Vice President Finance and CFO, has tendered his resignation with effect from January 31, 2017. Pending the appointment of Mr. Ramsden's successor, Ms. Jennie Ly, Controller of Mountain Province, will serve as acting CFO with effect from February 1, 2017. Patrick Evans, President and CEO, commented: "Over the past four years Bruce made an important contribution to Mountain Province during the transition from a developer to a producer. The Board extends its thanks to Mr. Ramsden and wishes him well for the future." Mountain Province Diamonds is a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada's Northwest Territories. Gahcho Kué consists of a cluster of four diamondiferous kimberlites, three of which have a probable mineral reserve of 35.4 million tonnes grading 1.57 carats per tonne for total diamond content of 55.5 million carats. Gahcho Kué is the world's largest and highest grade new diamond mine. A 2014 NI 43-101 feasibility study report filed by Mountain Province (available on SEDAR) indicates that the Gahcho Kué project has an IRR of 32.6%. Mountain Province's share of the diamond production from the Gahcho Kué mine will be sold on open tender in Antwerp through the respected diamond broker, Bonas. The Company's first rough diamond sale will take place in January, 2017, and approximately every five weeks thereafter. Qualified Person This news release has been prepared under the supervision of Carl G. Verley, P.Geo., who serves as the qualified person under National Instrument 43-101. Forward-Looking Statements This news release includes certain information that may constitute "forward-looking information" under applicable Canadian and US securities legislation. Forward-looking information includes, but is not limited to, the Company's strategic plans, future operations, future work programs and objectives. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. Please contact: Mountain Province Diamonds Inc., Patrick Evans, President and CEO, 161 Bay Street, Suite 1410, Toronto, Ontario M5J 2S1, Phone: +1-(416)-361-3562, E-mail: info@mountainprovince.com , http://www.mountainprovince.com


News Article | October 28, 2016
Site: www.marketwired.com

OTTAWA, ONTARIO--(Marketwired - Oct. 25, 2016) - Majescor Resources Inc. ("Majescor" or the "Company") (TSX VENTURE:MJX) is pleased to announce the nomination of Mr. Jacques Letendre to its Board of Directors which will be presented to the shareholders at their annual meeting on October 31, 2016. Mr. Letendre's subsequent work in various fields of geology (paleontology, sedimentology, marine geology, Quaternary geology) led him to join De Beer's Canadian subsidiary early in 1982. Since then, that is for the last 30 years, his interest has been focused mostly, but not uniquely, on diamonds, be it in the Americas or in Africa. His career in the diamond industry includes a 12 year stint with De Beers Canada (from 1982 to 1994) during which his promotional path evolved from Project Geologist to Exploration Manager for the whole of Canada. From 1994 to 1998, he proceeded to establish and manage Golden Star Resource's Diamond Division in Guyana, South America. Since 1999, apart from consultancy work, he has been involved with the start-up and management of Majescor Resources Inc. and from 2006 to 2007, with the management (as President) of North American Minerals Group, a private company. During his stay with De Beers Canada, he spearheaded their expansion of the Company in the Canadian Prairies, as well as in the then Northwest Territories, discovering the first kimberlites in Saskatchewan and Alberta. He is also credited with the discovery of the large diamondiferous komatiite at Dachine, in French Guiana, with drilling the first kimberlite pipe in Ontario, and with leading the team that discovered the first known kimberlites in Madagascar. He has been directly involved with the early evaluation of kimberlites in Canada (Alberta, Quebec, Saskatchewan) and Brazil. Since 2005, the nature of the exploration industry led him to diversify into exploration for gold, base metals, Rare Earth Elements and Uranium. This led, on Majescor's behalf, to the highlighting of significant uranium mineralization in the Otish Mountains area, amongst others. Management received and reviewed the initial exploration results on the Montagne B Lithium property, and based on those results, provided a termination notice to the Optionors and returned the property. Additional information about the Corporation is available under Majescor's profile on SEDAR at www.sedar.com. This news release contains certain "forward-looking statements" or "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or are events or conditions that "will", "would", "may", "could" or "should" occur or be achieved. This news release contains forward-looking statements, pertaining to, among other things, the following: the resumption of the trading of Majescor shares on the TSX Venture Exchange. Statements regarding future production, capital expenditures and development plans are subject to all of the risks and uncertainties normally incident to the exploration for and development and production of oil and gas that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These risks include, but are not limited to, inflation or lack of availability of goods and services, environmental risks, drilling risks, regulatory changes and certain other known and unknown risks detailed from time to time in Majescor's public disclosure documents, copies of which are available on Majescor's SEDAR profile at www.sedar.com. Although Majescor believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance. Majescor's actual results may differ materially from those expressed or implied in forward-looking statements and readers should not place undue importance or reliance on the forward-looking statements. Statements including forward-looking statements are made as of the date they are given and except as required by applicable securities laws, Majescor disclaims any intention or obligation to publically update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. 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.

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