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News Article | February 17, 2017
Site: marketersmedia.com

VANCOUVER, BC / ACCESSWIRE / February 17, 2017 / Canadian Zeolite Corp. (the "Company") (TSX-V: CNZ) (OTCQB: CNZCF) (FSE: ZEON) is pleased to announce its intention to spin-out its Bullard Pass Property (the "Bullard Project") through a Plan of Arrangement under the British Columbia Business Corporations Act (the "Arrangement"). The Arrangement is designed to deliver greater value to its shareholders by unlocking the value of the Bullard Project. In addition, this will allow the Company to focus on the production and distribution of its line of natural zeolite products. An information circular is anticipated to be mailed out to security holders in mid-March, 2017 to approve the terms of the Arrangement and other matters at the Company's Annual and General Meeting scheduled for April 28, 2017. Ray Paquette, the Company's President and CEO said, "During the period of 2007 through 2010 the Company's major project was the Bullard Pass Property. We conducted geological work including staking, drilling and assays incurring expenditures of USD$688,000. We consider the Bullard Project to be a property of merit and further exploration is warranted. The current recommendation for the Bullard Project is a three pronged one phase exploration program. This program includes data compilation, increasing the property size through staking and a 3500' drilling program. The proposed spin-out allows the Company to focus on further advancement and sale of its natural zeolite products for distribution to the agricultural and animal feed industries, for water treatment and aquaculture as well as numerous industrial applications, such as road salt replacement, radioactive waste containment and artificial turf." The Bullard Pass Property is located within the Pierce Mining District in southern Yavapai County, Arizona and lies along the Bullard detachment fault in the Bullard Mining District at the southern end of Harcuvar metamorphic core complex. The Bullard detachment fault is a portion of the regional Buckskin-Rawhide-Bullard detachment fault in west central Arizona, striking approximately N55-60E and with a moderate dip to the south. While most of the property is covered by Quaternary alluvium, the limited exposures in the low hills indicate the hanging wall of the fault is comprised largely of Tertiary volcanic and sedimentary rocks, while the footwall is comprised largely of mylonitized granitoids or granitic gneisses of early Proterozoic and Cretaceous age. Mineralization is theorized to consist of detachment fault related gold. Small showings of quartz veins and breccias have been mapped locally on surface and have returned grades ranging from background to 2965 ppb Au. Mapping and property wide enzyme leach soil sampling highlighted three areas on the property: Unity grid, Southwest Corner Grid and Access Road grid. These areas were followed up with closer spaced enzyme leach soil sampling and preliminary drill targets were identified. A diamond drill program consisting of 8 vertical holes ranging from 400 to 500 feet was completed over the three grids area by Canadian Mining in 2010. It is anticipated that Ray Paquette will become chairman of Canadian Mining and that the management team will consist of Brian Thurston as Chief Executive Officer, Mark Groenewald as Chief Financial Officer, and Dianne Szigety as Corporate Secretary. Changes and additions to the management team will be made as needed and as the Bullard Project progresses. The names of additional directors are expected to be announced in the near future and will be outlined in the information circular to be mailed to the Company's security holders for the Company's Annual General and Special Meeting. The Transaction - Summary of the Arrangement The Company has entered into a Vend-In Agreement with Canadian Mining Company Inc., a wholly owned subsidiary, ("Canadian Mining") whereby it has agreed to transfer its interest in the Bullard Project to Canadian Mining. Concurrently with entering into the Vend-In Agreement, Canadian Mining and Canadian Zeolite entered into an Arrangement Agreement which governs the terms of the Arrangement. Pursuant to the Arrangement, Canadian Zeolite Corp. will be distributing the common shares it holds in Canadian Mining (collectively the "Canadian Mining Shares") to its shareholders on a one (1) Canadian Mining Share for every five common shares held in the Company. All warrants held in the Company will be cancelled and holders of such warrants will be issued one (1) new Company warrant for each Company warrant held with an exercise price adjusted to reflect the spin-out of the Bullard Project from the Company and one (1) warrant in Canadian Mining for every five (5) common shares held. The exercise price for the Spinco Warrants issued to the Canadian Zeolite Warrant holders will be the lesser of the Canadian Zeolite Warrant Exercise Price, and the issue price per Spinco security issued in connection with the Concurrent Financing. The share and warrant exchanges set out above will be based on security holdings as of a date following the Annual General and Special Meeting established by the Company. Closing of the Arrangement is subject to a number of customary conditions precedent, including, but not limited to: 1. Canadian Mining closing an offering raising at least $650,000.00 2. The Arrangement being approved by two-thirds of the Company's shareholders, warrant holders and option holders at the upcoming Annual General and Special Meeting; 3. The granting from the Supreme Court of British Columbia of an interim order authorizing the security holders to approve the Arrangement and a final order approving the Plan of Arrangement and the fairness of its terms; and 4. The Common Shares of Canadian Mining being listed on the TSX Venture Exchange. The above description summarizes the terms of the Arrangement. A copy of the Arrangement Agreement entered into between the Company and Canadian Mining has been filed on SEDAR as a material document and is available for review at the Company's head office. Investors are urged to read the Arrangement Agreement in its entirety for a more complete description of the Arrangement as well as the information circular to be provided to security holders in connection with the Annual General and Special Meeting of the Company’s security holders. As a condition to the completion of the Arrangement, Canadian Mining is undertaking a financing to raise net proceeds of at least $650,000. It anticipates this raise to be executed through the issuance of units for $0.09 per unit. Each unit will be comprised of one common share in Canadian Mining and one share purchase warrant. Each warrant entitles the holder to acquire, at any time up to the first anniversary of the issuance of such warrants, one common share at a price of $0.25. Listing of the Canadian Mining Common Shares issuable pursuant to the Concurrent Financing is subject to approval from the TSX Venture Exchange. Technical disclosure for the Bullard Project included in this press release, has been reviewed and approved by Dr. Pat O'Hara. Dr. O'Hara is a Qualified Person ("QP") under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Canadian Zeolite Corp. is an environmentally friendly Green Tech company involved in the exploration, development and production of the industrial mineral zeolite. It is a producer of natural zeolite from its zeolite deposits in British Columbia, Canada. The Company's shares are listed on the TSX Venture Exchange under the symbol CNZ, on the OTCQB under the symbol "CNZCF" and on the Frankfurt Exchange under the symbol "ZEON". On behalf of the Board of Directors "Ray Paquette" President & CEO 604.684.3301 www.canadianzeolite.com 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 news release. Certain statements made and information contained herein in the press release constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation (collectively, "forward-looking information"). The forward-looking information contained in this press release is based on information available to the Company as of the date of this press release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward looking information. Generally, this forward-looking information can frequently, but not always, be identified by use of forward-looking terminology such as "plans," "expects" or "does not expect," "is expected," "budget," "scheduled," "estimates," "forecasts," "intends," "anticipates" or "does not anticipate," or "believes," or variations of such words and phrases or statements that certain actions, events, conditions or results "will," "may," "could," "would," "might" or "will be taken," "occur" or "be achieved" or the negative connotations thereof. Forward looking statements include, the anticipated timing of mailing the information circular to security holders, the listing of Canadian Mining's common shares on the TSX Venture Exchange, the approval of the Arrangement by the Company's security holders, the ability of Canadian Mining to execute on the initial exploration program at Bullard Pass, the ability of the parties to meet all the conditions precedent to the Arrangement and the anticipated size and terms of Canadian Mining's concurrent financing. All statements other than statements of historical fact may be forward-looking statements. Forward-looking information is necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks and uncertainties relating to, among other things, the risk of the Company not obtaining: a) an interim order; b) a final court order, c) Canadian Zeolite security holder or stock exchange approvals to proceed with the Arrangement or the listing of Canadian Mining Common Shares; the risk of unexpected tax consequences to the Arrangement, the risk of unanticipated material expenditures required by the Company prior to completion of the Arrangement; risks of the market valuing Canadian Zeolite and Canadian Mining in a manner not anticipated by the Company; risks relating to the benefits of the Arrangement not being realized or as anticipated, Canadian Mining being unable to add additional properties to its portfolio, the potential dilution at the Bullard Project, the inherent uncertainties regarding cost estimates, changes in commodity prices, currency fluctuation, financing, unanticipated resource grades, infrastructure, results of exploration activities, cost overruns, availability of materials and equipment, timeliness of government approvals, taxation, political risk and related economic risk and unanticipated environmental impact on operations, as well as other risks uncertainties and other factors, including, without limitation, those referred to in the “Risks and Uncertainties” section of the Company's annual management discussion and analysis, a copy of which is filed on SEDAR, and elsewhere, which may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. The Company believes that the expectations reflected in the forward-looking statements and information included in this press release are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements and information should not be unduly relied upon. This statement and information speaks as of the date of the press release. VANCOUVER, BC / ACCESSWIRE / February 17, 2017 / Canadian Zeolite Corp. (the "Company") (TSX-V: CNZ) (OTCQB: CNZCF) (FSE: ZEON) is pleased to announce its intention to spin-out its Bullard Pass Property (the "Bullard Project") through a Plan of Arrangement under the British Columbia Business Corporations Act (the "Arrangement"). The Arrangement is designed to deliver greater value to its shareholders by unlocking the value of the Bullard Project. In addition, this will allow the Company to focus on the production and distribution of its line of natural zeolite products. An information circular is anticipated to be mailed out to security holders in mid-March, 2017 to approve the terms of the Arrangement and other matters at the Company's Annual and General Meeting scheduled for April 28, 2017. Ray Paquette, the Company's President and CEO said, "During the period of 2007 through 2010 the Company's major project was the Bullard Pass Property. We conducted geological work including staking, drilling and assays incurring expenditures of USD$688,000. We consider the Bullard Project to be a property of merit and further exploration is warranted. The current recommendation for the Bullard Project is a three pronged one phase exploration program. This program includes data compilation, increasing the property size through staking and a 3500' drilling program. The proposed spin-out allows the Company to focus on further advancement and sale of its natural zeolite products for distribution to the agricultural and animal feed industries, for water treatment and aquaculture as well as numerous industrial applications, such as road salt replacement, radioactive waste containment and artificial turf." The Bullard Pass Property is located within the Pierce Mining District in southern Yavapai County, Arizona and lies along the Bullard detachment fault in the Bullard Mining District at the southern end of Harcuvar metamorphic core complex. The Bullard detachment fault is a portion of the regional Buckskin-Rawhide-Bullard detachment fault in west central Arizona, striking approximately N55-60E and with a moderate dip to the south. While most of the property is covered by Quaternary alluvium, the limited exposures in the low hills indicate the hanging wall of the fault is comprised largely of Tertiary volcanic and sedimentary rocks, while the footwall is comprised largely of mylonitized granitoids or granitic gneisses of early Proterozoic and Cretaceous age. Mineralization is theorized to consist of detachment fault related gold. Small showings of quartz veins and breccias have been mapped locally on surface and have returned grades ranging from background to 2965 ppb Au. Mapping and property wide enzyme leach soil sampling highlighted three areas on the property: Unity grid, Southwest Corner Grid and Access Road grid. These areas were followed up with closer spaced enzyme leach soil sampling and preliminary drill targets were identified. A diamond drill program consisting of 8 vertical holes ranging from 400 to 500 feet was completed over the three grids area by Canadian Mining in 2010. It is anticipated that Ray Paquette will become chairman of Canadian Mining and that the management team will consist of Brian Thurston as Chief Executive Officer, Mark Groenewald as Chief Financial Officer, and Dianne Szigety as Corporate Secretary. Changes and additions to the management team will be made as needed and as the Bullard Project progresses. The names of additional directors are expected to be announced in the near future and will be outlined in the information circular to be mailed to the Company's security holders for the Company's Annual General and Special Meeting. The Transaction - Summary of the Arrangement The Company has entered into a Vend-In Agreement with Canadian Mining Company Inc., a wholly owned subsidiary, ("Canadian Mining") whereby it has agreed to transfer its interest in the Bullard Project to Canadian Mining. Concurrently with entering into the Vend-In Agreement, Canadian Mining and Canadian Zeolite entered into an Arrangement Agreement which governs the terms of the Arrangement. Pursuant to the Arrangement, Canadian Zeolite Corp. will be distributing the common shares it holds in Canadian Mining (collectively the "Canadian Mining Shares") to its shareholders on a one (1) Canadian Mining Share for every five common shares held in the Company. All warrants held in the Company will be cancelled and holders of such warrants will be issued one (1) new Company warrant for each Company warrant held with an exercise price adjusted to reflect the spin-out of the Bullard Project from the Company and one (1) warrant in Canadian Mining for every five (5) common shares held. The exercise price for the Spinco Warrants issued to the Canadian Zeolite Warrant holders will be the lesser of the Canadian Zeolite Warrant Exercise Price, and the issue price per Spinco security issued in connection with the Concurrent Financing. The share and warrant exchanges set out above will be based on security holdings as of a date following the Annual General and Special Meeting established by the Company. Closing of the Arrangement is subject to a number of customary conditions precedent, including, but not limited to: 1. Canadian Mining closing an offering raising at least $650,000.00 2. The Arrangement being approved by two-thirds of the Company's shareholders, warrant holders and option holders at the upcoming Annual General and Special Meeting; 3. The granting from the Supreme Court of British Columbia of an interim order authorizing the security holders to approve the Arrangement and a final order approving the Plan of Arrangement and the fairness of its terms; and 4. The Common Shares of Canadian Mining being listed on the TSX Venture Exchange. The above description summarizes the terms of the Arrangement. A copy of the Arrangement Agreement entered into between the Company and Canadian Mining has been filed on SEDAR as a material document and is available for review at the Company's head office. Investors are urged to read the Arrangement Agreement in its entirety for a more complete description of the Arrangement as well as the information circular to be provided to security holders in connection with the Annual General and Special Meeting of the Company’s security holders. As a condition to the completion of the Arrangement, Canadian Mining is undertaking a financing to raise net proceeds of at least $650,000. It anticipates this raise to be executed through the issuance of units for $0.09 per unit. Each unit will be comprised of one common share in Canadian Mining and one share purchase warrant. Each warrant entitles the holder to acquire, at any time up to the first anniversary of the issuance of such warrants, one common share at a price of $0.25. Listing of the Canadian Mining Common Shares issuable pursuant to the Concurrent Financing is subject to approval from the TSX Venture Exchange. Technical disclosure for the Bullard Project included in this press release, has been reviewed and approved by Dr. Pat O'Hara. Dr. O'Hara is a Qualified Person ("QP") under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Canadian Zeolite Corp. is an environmentally friendly Green Tech company involved in the exploration, development and production of the industrial mineral zeolite. It is a producer of natural zeolite from its zeolite deposits in British Columbia, Canada. The Company's shares are listed on the TSX Venture Exchange under the symbol CNZ, on the OTCQB under the symbol "CNZCF" and on the Frankfurt Exchange under the symbol "ZEON". On behalf of the Board of Directors "Ray Paquette" President & CEO 604.684.3301 www.canadianzeolite.com 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 news release. Certain statements made and information contained herein in the press release constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation (collectively, "forward-looking information"). The forward-looking information contained in this press release is based on information available to the Company as of the date of this press release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward looking information. Generally, this forward-looking information can frequently, but not always, be identified by use of forward-looking terminology such as "plans," "expects" or "does not expect," "is expected," "budget," "scheduled," "estimates," "forecasts," "intends," "anticipates" or "does not anticipate," or "believes," or variations of such words and phrases or statements that certain actions, events, conditions or results "will," "may," "could," "would," "might" or "will be taken," "occur" or "be achieved" or the negative connotations thereof. Forward looking statements include, the anticipated timing of mailing the information circular to security holders, the listing of Canadian Mining's common shares on the TSX Venture Exchange, the approval of the Arrangement by the Company's security holders, the ability of Canadian Mining to execute on the initial exploration program at Bullard Pass, the ability of the parties to meet all the conditions precedent to the Arrangement and the anticipated size and terms of Canadian Mining's concurrent financing. All statements other than statements of historical fact may be forward-looking statements. Forward-looking information is necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks and uncertainties relating to, among other things, the risk of the Company not obtaining: a) an interim order; b) a final court order, c) Canadian Zeolite security holder or stock exchange approvals to proceed with the Arrangement or the listing of Canadian Mining Common Shares; the risk of unexpected tax consequences to the Arrangement, the risk of unanticipated material expenditures required by the Company prior to completion of the Arrangement; risks of the market valuing Canadian Zeolite and Canadian Mining in a manner not anticipated by the Company; risks relating to the benefits of the Arrangement not being realized or as anticipated, Canadian Mining being unable to add additional properties to its portfolio, the potential dilution at the Bullard Project, the inherent uncertainties regarding cost estimates, changes in commodity prices, currency fluctuation, financing, unanticipated resource grades, infrastructure, results of exploration activities, cost overruns, availability of materials and equipment, timeliness of government approvals, taxation, political risk and related economic risk and unanticipated environmental impact on operations, as well as other risks uncertainties and other factors, including, without limitation, those referred to in the “Risks and Uncertainties” section of the Company's annual management discussion and analysis, a copy of which is filed on SEDAR, and elsewhere, which may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. The Company believes that the expectations reflected in the forward-looking statements and information included in this press release are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements and information should not be unduly relied upon. This statement and information speaks as of the date of the press release.


VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 8, 2017) - Ivanhoe Mines (TSX:IVN)(OTCQX:IVPAF) announced today that it has received the fourth installment of US$41.2 million owing from a subsidiary of Zijin Mining Group Co., Ltd. as part of a strategic co-development agreement under which Zijin acquired 49.5% of Ivanhoe's majority stake in Kamoa Holding Limited that holds the interest in the Kamoa-Kakula copper discovery, now being jointly developed by Ivanhoe and Zijin in the Democratic Republic of Congo. Zijin - through its subsidiary, Gold Mountains (H.K.) International Mining Company Limited - agreed to pay US$412 million for a 49.5% interest in Kamoa Holding Limited. Zijin paid an initial US$206 million at closing in December 2015, followed by the payment of the first three of five scheduled US$41.2 million installments in March, July and October of last year. Following the signing of a partnership agreement with the DRC government in November 2016, Ivanhoe and Zijin Mining now each hold an indirect 39.6% interest in the Kamoa-Kakula Project, Crystal River Global Limited holds an indirect 0.8% interest and the DRC government holds a direct 20% interest. Kamoa Holding Limited continues to hold an 80% interest in the Kamoa-Kakula Project. After the receipt of the fourth installment from Zijin, Ivanhoe's consolidated working capital is approximately US$355 million (C$467 million). The fifth and final US$41.2 million installment payment is due on May 23, 2017. The installment payments are secured by a pledge of shares of Kamoa Holding Limited with proportionate releases of the security on the pledged shares following receipt of each installment payment. Ivanhoe Mines is advancing its three principal projects in Sub-Saharan Africa: Mine development at the Platreef platinum-palladium-gold-nickel-copper discovery on the Northern Limb of South Africa's Bushveld Complex; mine development and exploration at the Kamoa-Kakula copper discovery on the Central African Copperbelt in the DRC; and upgrading at the historic, high-grade Kipushi zinc-copper-lead-germanium mine, also on the DRC's Copperbelt. For details, visit www.ivanhoemines.com. Certain statements in this news release may constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws, including, without limitation, the payment by a subsidiary of Zijin of the fifth installment payment of US$41.2 million on May 23, 2017. Such statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Ivanhoe Mines to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect Ivanhoe Mines' current expectations regarding future events, performance and results and speak only as of the date of this news release.


News Article | February 17, 2017
Site: www.accesswire.com

VANCOUVER, BC / ACCESSWIRE / February 17, 2017 / Canadian Zeolite Corp. (the "Company") (TSX-V: CNZ) (OTCQB: CNZCF) (FSE: ZEON) is pleased to announce its intention to spin-out its Bullard Pass Property (the "Bullard Project") through a Plan of Arrangement under the British Columbia Business Corporations Act (the "Arrangement"). The Arrangement is designed to deliver greater value to its shareholders by unlocking the value of the Bullard Project. In addition, this will allow the Company to focus on the production and distribution of its line of natural zeolite products. An information circular is anticipated to be mailed out to security holders in mid-March, 2017 to approve the terms of the Arrangement and other matters at the Company's Annual and General Meeting scheduled for April 28, 2017. Ray Paquette, the Company's President and CEO said, "During the period of 2007 through 2010 the Company's major project was the Bullard Pass Property. We conducted geological work including staking, drilling and assays incurring expenditures of USD$688,000. We consider the Bullard Project to be a property of merit and further exploration is warranted. The current recommendation for the Bullard Project is a three pronged one phase exploration program. This program includes data compilation, increasing the property size through staking and a 3500' drilling program. The proposed spin-out allows the Company to focus on further advancement and sale of its natural zeolite products for distribution to the agricultural and animal feed industries, for water treatment and aquaculture as well as numerous industrial applications, such as road salt replacement, radioactive waste containment and artificial turf." The Bullard Pass Property is located within the Pierce Mining District in southern Yavapai County, Arizona and lies along the Bullard detachment fault in the Bullard Mining District at the southern end of Harcuvar metamorphic core complex. The Bullard detachment fault is a portion of the regional Buckskin-Rawhide-Bullard detachment fault in west central Arizona, striking approximately N55-60E and with a moderate dip to the south. While most of the property is covered by Quaternary alluvium, the limited exposures in the low hills indicate the hanging wall of the fault is comprised largely of Tertiary volcanic and sedimentary rocks, while the footwall is comprised largely of mylonitized granitoids or granitic gneisses of early Proterozoic and Cretaceous age. Mineralization is theorized to consist of detachment fault related gold. Small showings of quartz veins and breccias have been mapped locally on surface and have returned grades ranging from background to 2965 ppb Au. Mapping and property wide enzyme leach soil sampling highlighted three areas on the property: Unity grid, Southwest Corner Grid and Access Road grid. These areas were followed up with closer spaced enzyme leach soil sampling and preliminary drill targets were identified. A diamond drill program consisting of 8 vertical holes ranging from 400 to 500 feet was completed over the three grids area by Canadian Mining in 2010. It is anticipated that Ray Paquette will become chairman of Canadian Mining and that the management team will consist of Brian Thurston as Chief Executive Officer, Mark Groenewald as Chief Financial Officer, and Dianne Szigety as Corporate Secretary. Changes and additions to the management team will be made as needed and as the Bullard Project progresses. The names of additional directors are expected to be announced in the near future and will be outlined in the information circular to be mailed to the Company's security holders for the Company's Annual General and Special Meeting. The Transaction - Summary of the Arrangement The Company has entered into a Vend-In Agreement with Canadian Mining Company Inc., a wholly owned subsidiary, ("Canadian Mining") whereby it has agreed to transfer its interest in the Bullard Project to Canadian Mining. Concurrently with entering into the Vend-In Agreement, Canadian Mining and Canadian Zeolite entered into an Arrangement Agreement which governs the terms of the Arrangement. Pursuant to the Arrangement, Canadian Zeolite Corp. will be distributing the common shares it holds in Canadian Mining (collectively the "Canadian Mining Shares") to its shareholders on a one (1) Canadian Mining Share for every five common shares held in the Company. All warrants held in the Company will be cancelled and holders of such warrants will be issued one (1) new Company warrant for each Company warrant held with an exercise price adjusted to reflect the spin-out of the Bullard Project from the Company and one (1) warrant in Canadian Mining for every five (5) common shares held. The exercise price for the Spinco Warrants issued to the Canadian Zeolite Warrant holders will be the lesser of the Canadian Zeolite Warrant Exercise Price, and the issue price per Spinco security issued in connection with the Concurrent Financing. The share and warrant exchanges set out above will be based on security holdings as of a date following the Annual General and Special Meeting established by the Company. Closing of the Arrangement is subject to a number of customary conditions precedent, including, but not limited to: 1. Canadian Mining closing an offering raising at least $650,000.00 2. The Arrangement being approved by two-thirds of the Company's shareholders, warrant holders and option holders at the upcoming Annual General and Special Meeting; 3. The granting from the Supreme Court of British Columbia of an interim order authorizing the security holders to approve the Arrangement and a final order approving the Plan of Arrangement and the fairness of its terms; and 4. The Common Shares of Canadian Mining being listed on the TSX Venture Exchange. The above description summarizes the terms of the Arrangement. A copy of the Arrangement Agreement entered into between the Company and Canadian Mining has been filed on SEDAR as a material document and is available for review at the Company's head office. Investors are urged to read the Arrangement Agreement in its entirety for a more complete description of the Arrangement as well as the information circular to be provided to security holders in connection with the Annual General and Special Meeting of the Company’s security holders. As a condition to the completion of the Arrangement, Canadian Mining is undertaking a financing to raise net proceeds of at least $650,000. It anticipates this raise to be executed through the issuance of units for $0.09 per unit. Each unit will be comprised of one common share in Canadian Mining and one share purchase warrant. Each warrant entitles the holder to acquire, at any time up to the first anniversary of the issuance of such warrants, one common share at a price of $0.25. Listing of the Canadian Mining Common Shares issuable pursuant to the Concurrent Financing is subject to approval from the TSX Venture Exchange. Technical disclosure for the Bullard Project included in this press release, has been reviewed and approved by Dr. Pat O'Hara. Dr. O'Hara is a Qualified Person ("QP") under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Canadian Zeolite Corp. is an environmentally friendly Green Tech company involved in the exploration, development and production of the industrial mineral zeolite. It is a producer of natural zeolite from its zeolite deposits in British Columbia, Canada. The Company's shares are listed on the TSX Venture Exchange under the symbol CNZ, on the OTCQB under the symbol "CNZCF" and on the Frankfurt Exchange under the symbol "ZEON". On behalf of the Board of Directors "Ray Paquette" President & CEO 604.684.3301 www.canadianzeolite.com 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 news release. Certain statements made and information contained herein in the press release constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation (collectively, "forward-looking information"). The forward-looking information contained in this press release is based on information available to the Company as of the date of this press release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward looking information. Generally, this forward-looking information can frequently, but not always, be identified by use of forward-looking terminology such as "plans," "expects" or "does not expect," "is expected," "budget," "scheduled," "estimates," "forecasts," "intends," "anticipates" or "does not anticipate," or "believes," or variations of such words and phrases or statements that certain actions, events, conditions or results "will," "may," "could," "would," "might" or "will be taken," "occur" or "be achieved" or the negative connotations thereof. Forward looking statements include, the anticipated timing of mailing the information circular to security holders, the listing of Canadian Mining's common shares on the TSX Venture Exchange, the approval of the Arrangement by the Company's security holders, the ability of Canadian Mining to execute on the initial exploration program at Bullard Pass, the ability of the parties to meet all the conditions precedent to the Arrangement and the anticipated size and terms of Canadian Mining's concurrent financing. All statements other than statements of historical fact may be forward-looking statements. Forward-looking information is necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks and uncertainties relating to, among other things, the risk of the Company not obtaining: a) an interim order; b) a final court order, c) Canadian Zeolite security holder or stock exchange approvals to proceed with the Arrangement or the listing of Canadian Mining Common Shares; the risk of unexpected tax consequences to the Arrangement, the risk of unanticipated material expenditures required by the Company prior to completion of the Arrangement; risks of the market valuing Canadian Zeolite and Canadian Mining in a manner not anticipated by the Company; risks relating to the benefits of the Arrangement not being realized or as anticipated, Canadian Mining being unable to add additional properties to its portfolio, the potential dilution at the Bullard Project, the inherent uncertainties regarding cost estimates, changes in commodity prices, currency fluctuation, financing, unanticipated resource grades, infrastructure, results of exploration activities, cost overruns, availability of materials and equipment, timeliness of government approvals, taxation, political risk and related economic risk and unanticipated environmental impact on operations, as well as other risks uncertainties and other factors, including, without limitation, those referred to in the “Risks and Uncertainties” section of the Company's annual management discussion and analysis, a copy of which is filed on SEDAR, and elsewhere, which may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. The Company believes that the expectations reflected in the forward-looking statements and information included in this press release are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements and information should not be unduly relied upon. This statement and information speaks as of the date of the press release.


Rigrodsky & Long, P.A. announces that it has filed a class action complaint in the United States District Court for the District of Colorado on behalf of holders of Stillwater Mining Company (“Stillwater”) (NYSE:SWC) common stock in connection with the proposed acquisition of Stillwater by Sibanye Gold Limited and its wholly-owned subsidiaries (collectively, “Sibanye”) announced on December 9, 2016 (the “Complaint”).  The Complaint, which alleges violations of the Securities Exchange Act of 1934 against Stillwater, its Board of Directors (the “Board”), and Sibanye, is captioned Assad v. Stillwater Mining Company, Case No. 1:17-cv-00267 (D. Colo.). If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail at info@rl-legal.com; or at: http://rigrodskylong.com/investigations/stillwater-mining-company-swc/. On December 9, 2016, Stillwater entered into an agreement and plan of merger (the “Merger Agreement”) with Sibanye.  Pursuant to the Merger Agreement, Stillwater shareholders will receive $18.00 per share in cash (the “Proposed Transaction”). The Complaint alleges that, in an attempt to secure shareholder support for the Proposed Transaction, on January 24, 2017, defendants issued materially incomplete disclosures in a Preliminary Proxy Statement (the “Proxy Statement”) filed with the United States Securities and Exchange Commission.  The Complaint asserts that the Proxy Statement, which recommends that Stillwater stockholders vote in favor of the Proposed Transaction, omits material information necessary to enable shareholders to make an informed decision as to how to vote on the Proposed Transaction, including material information with respect to Stillwater’s financial projections, the opinions and analyses of Stillwater’s financial advisor, and the background of the Proposed Transaction.  The Complaint seeks injunctive and equitable relief and damages on behalf of holders of Stillwater common stock. If you wish to serve as lead plaintiff, you must move the Court no later than April 17, 2017.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation, and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.


News Article | March 2, 2017
Site: www.marketwired.com

TORONTO, ONTARIO--(Marketwired - March 2, 2017) - Brionor Resources Inc. ("Brionor" or the "Company") (TSX VENTURE:BNR) is pleased to announce that it has entered into a Definitive Share Purchase Agreement (the "Agreement") dated March 1st, 2017 with Atala Resources Corporation ("Atala"), a private Ontario mining exploration company that holds a portfolio of exploration properties in Santa Cruz Province Argentina, and the shareholders of Atala (the "Atala Shareholders"); whereby Brionor proposes to acquire (the "Acquisition") all of the issued and outstanding shares of Atala (each an "Atala Share") for an aggregate purchase price of $300,000 (the "Purchase Price") payable by the issuance of common shares of Brionor (each a "Brionor Share") at a deemed price of $0.05 per Brionor Share. Under the Agreement, each Atala Shareholder shall receive 0.4382 of a Brionor Share for each Atala Share held, for a total of 6,000,000 Brionor Shares. The closing of the Acquisition is scheduled to take place on or before March 30, 2017, and is subject to numerous conditions customary to this type of transaction, including, the receipt of the required regulatory approvals. No finder's fees will be paid by the Corporation in connection with the Acquisition. Mr. Lew Lawrick, President of Brionor, is also a director and shareholder of Atala, and therefore, the Acquisition constitutes a "non-arm's length" transaction within the meaning of the policies of the TSX Venture Exchange. (the "Exchange"). The Acquisition also constitutes a "Related Party Transaction" within the meaning of National Instrument 61-101 - Protection of Minority Security Holders in Special transactions ("NI 61-101") insofar as it relates to Mr. Lawrick only. There are no other "non-arm's length parties" or "related parties" in connection with the Acquisition. In connection with the "Related Party Transaction", the Corporation is relying on the formal valuation and minority approval exemptions of respectively subsection 5.5(a) and 5.7(1)(a) of NI 61- 101 as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the Related Party Transaction exceeds 25% of the Corporation's market capitalization. The Acquisition was approved by the independent directors of Brionor and Mr. Lawrick did not participate in the discussions or the vote of the board relating to such approval. Robert Ayotte, Chairman of Brionor commented: "We are very pleased to have the opportunity to position ourselves through Atala in a reputable very prospective region of Argentina known for its recent mineral industry precious metal discoveries. The Province of Santa Cruz in Argentina has seen over the years, important mining, development and exploration activities. The founding shareholders of Atala, have a successful history of exploration and discovery in Argentina, having been instrumental in the discovery of McEwen Mining's currently producing San José gold-silver mine as well as the discovery of the large Los Azules Cu porphyry project in San Juan Province. The Atala project portfolio covers approximately 103,000 hectares in 7 independent areas (El Meridano, Covadonga, Gertrudis, El Monte, La Rosita, Boleadora and Katrina) all located in the heart of the highly prospective Province of Santa Cruz, home to a prominent geologic feature, the Deseado Massif which is host to numerous precious metals producers and development stage deposits including: Anglo-Ashanti's Cerro Vanguardia Au mine; Goldcorp's high grade Cerro Negro Au mine; McEwen Mining / Hochschild's high grade San Jose Ag / Au mine; and Yamana's Cerro Moro Au / Ag project. Through this transaction, we hope to rapidly create value for our shareholders." Atala's exploration property portfolio spans approximately 103,000 hectares in 7 independent areas in the highly prospective Province of Santa Cruz Argentina. Atala, through its 100% owned subsidiary (Atala Argentina S.A.) owns the mining rights to the El Monte, Gertrudis, Boleadora group and Katrina projects. Atala Argentina S.A. is also the parent company of AuEx Argentina S.A. ("AuEx") which it acquired from Renaissance Gold Inc. ("RenGold") in February 2014 (the "AuEx Acquisition"). In connection with the AuEx Acquisition, for a period of 10 years following the closing of such transaction, Atala shall pay to RenGold an amount of $30,000 should it complete an equity financing of minimum proceeds $1 million and an additional amount of $50,000 should it complete an additional financing for additional minimum proceeds of $1 million. RenGold may elect to receive such payments in shares of Atala or of a successor company. As such, following the closing of the Acquisition, Brionor shall assume this obligation of Atala which will remain subject to regulatory approval. Any mining rights held by AuEx at the time of its acquisition by Atala Argentina at the time of the transaction have since then been transferred to Atala Argentina. The El Meridano, Covadonga, and La Rosita projects are subject to an underlying option agreement with a private Argentine vendor pursuant to which Atala shall make options payments to the vendor commencing on January 1st of every year for the next 6 years (US$35,000 for the next 3 years, US$50,000 in the fourth year, US$125,000 in the fifth year and US$300,000 in the last year for a total of US$595,000). At the request of Atala and Brionor, a technical report (the "Report") has been prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") on both the Meridiano and Covadonga properties. Both Meridiano and Covadonga are exploration-stage properties and neither property contains a Mineral Resource or Reserve as defined NI 43-101. The Report was prepared by Cesar Riveros MAusIMM CP (Geo) Mendoza, Argentina an independent qualified person under NI 43-101 and has been submitted to the Exchange for review. The Report will be filed by Brionor on SEDAR (www.sedar.com) concurrently with the issuance of this news release. Covadonga is an area of low relief with poor exposure and is underlain predominantly by felsic lithic tuffs and volcaniclastic sediments that rest un-conformably on faulted blocks of older mafic volcanic units. The Cerro Covadonga project is centred around an area of NNW striking, sub-vertical, low sulfidation, epithermal veins with multi gram gold grades on the surface and a high level geochemical signature. Additionally, sparse outcrops within a hydrothermal corridor return samples with small amounts of gold and significant amounts of mercury from breccias and small veins encased in broader zones of clay (argillic) alteration thought to represent zones of steam heated alteration associated with very high level parts of a deeper, 1.5 km long structurally-controlled epithermal system. Exploration at Covadonga has focused principally on a 2 sq. km area in the northwestern part of the property block where surface rock chip sampling and mapping defined an altered and weakly mineralized zone. This zone was previously explored with 9 exploration trenches totalling 1,127 m in length, 8 of which were spaced at irregular 50 to 200 m intervals along a 600 m long segment of the corridor. The trenches reveal multiple zones of broad alteration, up to 25 m wide, enclosing veining and brecciation not visible at the surface. Weakly anomalous gold values, together with anomalous amounts of mercury-arsenic-antimony, were returned from samples within most of these zones. At Covadonga, previous surface exploration results suggest potential for several types of targets of significant size, including possible disperse, low-grade large tonnage deposits in addition to more typical Deseado Massif discrete vein systems. The trenches range in length from 55 to 213 m and excavated to depths of about 1.5 m and oriented in W-E directions across the corridor trend, with the exception of Trench 8, a short SW-NE trench in an outlying area east of the central part of the corridor. The trenches were spaced at irregular 50 to 200 m intervals along a 600 m segment of the corridor, with the exception of Trench 9, a reconnaissance trench designed to find a possible extension of the corridor about 500 m south of the principal target area. All trenches were sampled by taking continuous chip samples at regular 5 m intervals along trench walls, close to the floor of the trench, collecting 296 total samples representing 1,100 m of total length. Additionally, 76 select samples of variable, but typically small, size were taken from various structures or other in the trenches. The trenches revealed zones of broad argillic alteration, veining and brecciation not visible at the surface. Previous operators interpreted these broad argillic alteration zones as steam heated alteration zones. One to several of these zones were found in all trenches except Trench 2, near the middle of the trenched corridor segment, and the two outlying trenches, Trench 8 and Trench 9, neither of which returned anomalous gold or significant amounts of mercury, arsenic or antimony, the three most-common pathfinder elements for epithermal exploration. All other trenches, including Trench 2, contain significant, albeit highly variable, amounts of one or more of these pathfinder elements with small amounts of gold commonly found in the argillic alteration zones where present. The Covadonga project is an early stage exploration project with excellent access and infrastructure and is close to the Cerro Vanguardia Mine. Despite these advantages the area was not seriously explored prior to 2007-2008 with subsequent prospecting and trenching returning generally encouraging results. Virtually all of the currently known epithermal deposits in the Deseado Massif are classic silica-quartz vein systems which, at the surface, usually form outcrops that stand in relief above the surrounding terrain, with intervening covered, recessive weathering areas often neglected by explorers. However, epithermal mineralization that accompanies large episodic volcanic complexes such as the Deseado Massif can manifest itself in a variety of ways. The project clearly merits further exploration and the currently defined target area would benefit from: We consider an adequate budget for these works as follows: Regional mapping and satellite imagery suggest the Meridiano property lies in the western part of a 8-10 km wide caldera, and the westernmost part of this feature is thought to be the site of 2.5 km wide circular diatreme complex. Andesitic to felsic tuffs in a 4 sq. km area are cut by gold-bearing hydrothermal breccias filling N to NW trending fractures and faults. Virtually all samples of these breccias contain small to significant amounts of gold, arsenic and antimony, but very little silver or base metals, suggesting that the mineralization in this area is preserved at a high level of erosion. Exploration at Meridiano has focused on a 4 sq. km area in the northern part of the property block. Whereby 403 rock chip samples were collected. There has been 65 line-km of magnetic and 32.5 line-km of gradient array IP ground surveys undertaken, and 32 drill holes completed, totalling 4,698 m in two reverse circulation campaigns and one diamond core twin-hole campaign. The drill holes were collared within a 1 sq. km area in the northwestern-most part of the property. Historic drill results included multiple intercepts of weak gold mineralization. Most holes hit one to several thin intervals of at least 0.10 g/t Au, and about one-third intersected wider intervals of weak mineralization interspersed with narrower higher-grade zones. Ten holes intersected "significant mineralization," here considered to be the equivalent of 1.5 meters (true thickness) of at least 0.34 g/t). These holes and their mineralized intercepts are provided in the following table: To view the table referred to in the above paragraph, please visit this link: http://media3.marketwire.com/docs/1087533_table.pdf The previous drilling tested the structural corridors to a maximum vertical depth of only 138 m. The company believes these results indicate that gold mineralization within these corridors has good horizontal continuity. The mineralized diatreme model suggested for Meridiano is supported by surface sampling, mapping, geophysical surveys, and by drilling. The area encompassed by mineral showings, both at surface and depth, is sufficiently large to warrant further exploration. Despite the drilling carried out to date, the project remains at an early stage of exploration and needs further ground work and modelling before undertaking further drilling. The currently defined target area of this project would benefit from further work in order to better define the flanks of the diatreme and the optimal drilling depth. The currently defined target areas on both projects would benefit greatly from: We consider an adequate budget for these works as follows: The El Monte project has multiple zones of targets, the principal ones being found in a range of footwall and hanging wall breccias at the edge of a dome complex to manto type targets within the dome complex. These targets occur along a NNW striking structural zone comprising a 3km extension of semi continuous low sulfidation Au and Ag veinlets and breccias. Trenching by a previous operator adjacent to dome rocks and argillized tuffs, has revealed several zones of continuous mineralization at the surface. Historic assay results from trenching include 55 meters of 0.41 ppm Au and 13.2 ppm Ag in Trench 2 and 35 meters of 0.10 ppm Au with 7.6 ppm Ag in trench 1. The most significant surface results obtained on the property rock chip assays yielding up to 638 ppm Ag and 8.6 ppm Au. This precious metal zone follows the footwall of a through-going fault on the west margin of a rhyolite dome complex. The target at Gertrudis comprises two mineralized structures which we refer to as the Gertrudis and David veins. These veins are some 300m apart, sub parallel and steeply dipping to the West. The Gertrudis vein extends for 800m and consists of silicified tectonic breccias with an argillic alteration halo. This NNW striking structure is steeply dipping to the WSW, and is well exposed along most of its length. The Gertrudis project has anomalous gold, up to 320 ppb, which is accompanied by high level epithermal geochemistry with anomalous Hg-Sn and As. The David vein is much less prominent and is characterized by spotty Au anomalies with high level epithermal geochemistry and is 400 m in length. The David vein is however highly significant in that the presence of two veins in parallel structures implies the potential for further veins under cover to the West. The veins are hosted in the "Bajo Pobre", a largely mafic Jurassic unit and they are covered to the north and south by Cretaceous sediments. This field relationship opens up considerable exploration potential in recessive ground to the north and south of the known mineralization. La Rosita is atypical in the Deseado Massif in that surface mineralization occurs in a complex area of shear zones which are generally hosted in carbonate sediments and chert as well as felsic to intermediate volcanics. The geology of La Rosita comprises a small basin measuring around 4 by 4 km which is formed in andesitic and dacitic volcanics and is occupied by highly deformed cherts, limestones and siltstones which are locally altered and mineralized. Prior to 2008 no drilling had taken place on the property. Geological mapping and further sampling was carried out during 2009 by a previous operator, and this was accompanied by a geophysical, IP and ground magnetic campaign. In September of 2010, 11 diamond holes were drilled, the most interesting being DDHLR04 which included a 3 metre intercept of 0.761 ppm Au and 926 ppm Cu at a depth of 83 metres. The Company is currently using the geophysical and geological database to re-evaluate the property in terms of known regional structure and stratigraphy. We believe that further targets occur at depth in vein forming crystal tuffs associated with zones of high fluid flow potential in dilational zones. The Boleadora Group comprises 6 cateos and 6 MDs totalling 50,000 hectares of prospective ground to the South of the San Jose and Cerro Negro Mines. The ground is largely comprised of Jurassic Chon Aike and Matilde formation volcanics and sediments and the regional structural regime is also favorable with structures striking directly to known mineralization and Cerro Negro. Analysis of Thematic mapper data has been used to produce a first pass target proposal with the spectral anomalies and lineament analysis allowing us to define 76 target areas. Katrina is a 10,000 ha Cateo which is characterized by extensive post Jurassic marine sediments and subsequently scarce prospective Jurassic outcrop. Never the less, first pass prospecting has revealed significant evidence of strong hydrothermal activity in outcrops exposed in drainages. Intermittent but significant Au anomalies +- Ag +- As over 2.3 km NNE strike length are observed with grades ranging from 0.02 to 1.60 ppm Au, the latter occurring in white silica vein breccia blocks encased in a ferrous silica matrix. Other than the option payment commitments on the Covadonga and Meridiano Properties (as described above) the balance of the property portfolio is subject only to normal course holding costs including land maintenance and taxes. Paul Robinson leads all aspects of Atala's precious metal generative and project procurement activity in Argentina and has built a small focused exploration team for that purpose. Previously, Paul managed the development of the AuEx and Renaissance Gold exploration portfolios including those currently held by Atala in Santa Cruz, Argentina. Paul has 23 years of professional experience in the exploration and spatial technology industries in the Americas and Europe. Previous work experience includes data development and management roles at the MapInfo Corporation and regional exploration, remote sensing, GIS, drill hole database management and resource modeling for Homestake Mining Company in Chile and Argentina. Paul also balanced the management of the AuEx Argentina with frequent periods of fieldwork in Nevada and Utah. After his first degree in Geology and Geography, Paul went on to obtain an M.Sc. in "Computing for Earth Scientists" from Keele University, United Kingdom, 1990. Paul's relationship with South America started with his Ph.D. on the Stratigraphy of Coastal Ecuador from the University of Southampton which was completed in 1994. Having focused his exploration career on South America, Paul is fluent in Spanish and is experienced in Chilean and Argentina business and work culture. In conjunction with the Atala Transaction, Brionor will undertake a non-brokered unit private placement for minimum proceeds of $680,000 and maximum proceeds of $1,000,000 (the "Offering"). The terms of the Offering are as follows: a minimum of 13,600,000 units and a maximum of 20,000,000 units at a price of $0.05 per unit. Each unit will be comprised of 1 common share and 1 common share purchase warrant exercisable at a price of $0.08 for a period of 24 months from closing. The Offering is expected to close on or before March 30, 2017 and is subject to regulatory approval. Finder's fees may be paid by the Company in connection with the Offering and the proceeds from this financing will be used to incur the recommended exploration programs under the Report, to respect Atala's ongoing option payments described above for the El Meridano, Covadonga, and La Rosita projects and for current working capital requirements of Atala. Following the completion of the Acquisition and Offering, Brionor will have a minimum of 67,912,465 and a maximum of 74,312,465 common shares issued and outstanding, 71.14 % of which will be held by current shareholders of Brionor ( 65.01% in the case of the maximum offering) and 8.83 % by Atala Shareholders ( 8.07% in the case of the maximum offering). The technical information presented in this press release has been reviewed and approved by Cesar Riveros MAusIMM CP (Geo) Mendoza, Argentina an independent qualified person under NI 43-101 and the Author of the Report. Brionor is a junior mining exploration company with a portfolio of exploration projects in Québec, and a large, very prospective exploration project portfolio in in the emerging precious metals Province of Santa Cruz, Argentina pending closing of its acquisition of Atala Resources Corporation. Currently Brionor is well funded with approximately $2.7 million in cash and marketable securities. 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. Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential mineralization) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, failure by the parties to complete the Transaction, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, changes in world gold markets or markets for other commodities, and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities. 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.


News Article | February 24, 2017
Site: www.marketwired.com

TORONTO, ONTARIO--(Marketwired - Feb. 24, 2017) - Buffalo Coal Corp. (TSX VENTURE:BUF)(JSE:BUC) ("Buffalo" or "the Company") announced today that it had completed a shares for debt arrangement with one of its creditors, STA Coal Mining Company Proprietary Limited ("STA"). The Company issued 4,286,908 common shares of the Company ("Common Shares") to STA, at a deemed issuance price of $0.05 per Common Share, in settlement of approximately $214,345 of contract mining fees payable to STA by a subsidiary of the Company in respect of the quarter ended December 31, 2016. The Common Shares were issued in accordance with the terms and conditions of an equity settlement agreement dated October 28, 2015 between the Company, STA and certain other parties and are subject to a four month resale restriction. Buffalo is a coal producer in southern Africa. It holds a majority interest in two operating mines through its 100% interest in Buffalo Coal Dundee, a South African company which has a 70% interest in Zinoju. Zinoju holds a 100% interest in the Magdalena bituminous mine and the Aviemore anthracite mine in South Africa. Buffalo has an experienced coal-focused management team. This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or 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 information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Buffalo to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, foreign operations, political and social uncertainties; a history of operating losses; delay or failure to receive board or regulatory approvals; timing and availability of external financing on acceptable terms; not realizing on the potential benefits of the proposed transaction; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of mineral products; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and, delays in obtaining governmental approvals or required financing or in the completion of activities. Although Buffalo has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. 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 statements. Accordingly, readers should not place undue reliance on forward-looking information. Buffalo does not undertake to update any forward-looking information, except in accordance with applicable securities laws. Neither the Toronto Venture Exchange, nor its regulation services provider (as that term is defined in the policies of the exchange), accepts responsibility for the adequacy or accuracy of this release.


LITTLETON, Colo., Feb. 02, 2017 (GLOBE NEWSWIRE) -- Stillwater Mining Company (NYSE:SWC) will release its fourth quarter and full-year 2016 financial results before the United States financial markets open on Thursday, February 16, 2017. The Company will conduct a conference call to discuss results the same day at approximately 12:00 noon Eastern Standard Time. A simultaneous webcast and presentation to accompany the conference call will be available in the Investor Relations section of the Company’s website at: www.stillwatermining.com. A telephone replay of the call will be available for one week following the event. The replay dial-in numbers are (877) 660-6853 (U.S.) and (201) 612-7415 (International), access code: 13649180. In addition, the call transcript will be archived in the Investor Relations section of the Company’s website. Stillwater Mining Company is the only U.S. miner of platinum group metals (PGMs) and the largest primary producer of PGMs outside of South Africa and the Russian Federation. PGMs are rare precious metals used in a wide variety of applications, including automobile catalysts, fuel cells, hydrogen purification, electronics, jewelry, dentistry, medicine and coinage. The Company is engaged in the development, extraction and processing PGMs from a geological formation in south-central Montana recognized as the J-M Reef. The J-M Reef is the only known significant source of PGMs in the U.S. and the highest-grade PGM deposit known in the world. The Company also recycles PGMs from spent catalytic converters and other industrial sources. The Company owns the Marathon PGM-copper deposit in Ontario, Canada, and the Altar porphyry copper-gold deposit located in the San Juan province of Argentina. The Company’s shares are traded on the New York Stock Exchange under the symbol SWC. Information about the Company can be found at its website: www.stillwatermining.com.


News Article | February 22, 2017
Site: www.accesswire.com

VANCOUVER, BC / ACCESSWIRE / February 22, 2017 / Pistol Bay Mining Inc. (TSX-V: PST) (FSE: OQS2) (OTC PINK: SLTFF) ("Pistol Bay" or the "Company") is pleased to announce that the vendor of the Joy North Property (see news release dated February 16, 2017) has supplied the Company with a package of historical data on exploration in the Confederation Lake greenstone belt in the 1960s and 1970s, much of which has never been in the public domain. Most of the historical data comprises diamond drill logs and ground geophysical survey maps from Selco Mining Company. Selco carried out a series of extensive and intensive exploration programs over most of the Confederation Lake belt that resulted in the discovery of several occurrences of zinc-copper Volcanogenic Massive Sulphide (VMS) mineralization with associated silver and gold values. The South Bay deposit was one of the first discoveries made by Selco, and it went into production in 1971. Over the period 1971-1981, the South Bay mine produced 1,486,000 tonnes, averaging 14.7% zinc, 2.3% copper and 121 g/T silver (see footnote). A significant number of the Selco drill holes, and many of the survey maps were never filed for assessment. The regulatory regime in Ontario at the time allowed mining claims to have a maximum of 5 years of assessment work, after which they would have been eligible to be leased; there was no incentive to report any excess work for assessment. Further, many of the drill holes that Selco did file for assessment did not include assay data. Over the next several weeks, Pistol Bay will be incorporating the newly available data into a digital database that includes drill information, geology, assays, rock chemistry, and petrology and ground geophysics. Consideration is being given to carrying out a new airborne electromagnetic and magnetic survey using current technology that can "see" deeper than earlier systems and can also better discriminate bedrock from overburden conductivity. Charles Desjardins, President of Pistol Bay, stated, "This data package will make our regional and property-scale compilations as complete as they can possibly be. When we follow up on some of the partially drilled-off zinc-copper zones that were originally discovered by Selco, we will be in possession of essentially all of the data that still exists, and that will allow us to make the most effective use of drilling metres." Note: The South Bay mine site does not form part of Pistol Bay's property holdings. Production figures from the South Bay Mine vary depending on the source. Selco appears to have been equally as cautious about publishing production figures as it was about filing assessment reports. The numbers quoted here are from a 2003 report by Noranda Exploration Company. Noranda acquired most of its Confederation Lake properties through a joint venture with Selco; hence Noranda had access to Selco data, and these production figures are considered sufficiently reliable for the purposes of this news release. Technical information in this news release has been provided and/or reviewed by Colin Bowdidge, Ph.D., P.Geo., a Qualified Person as defined in National Instrument 43-101. Pistol Bay Mining Inc. is a diversified junior Canadian mineral exploration company with a focus on precious and base metal properties in North America. For additional information, please contact Charles Desjardins - [email protected]. On Behalf of the Board of Directors PISTOL BAY MINING INC. 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. This report contains forward-looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. 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. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions. Mineral Resources quoted in this news release are historical resource estimates that do not comply with the requirements of National Instrument 43-101. Insufficient work has been done on the deposits by a Qualified Person to determine the accuracy of the estimates, or what category of mineral resource that they might approximate to.


News Article | February 16, 2017
Site: marketersmedia.com

VANCOUVER, BC / ACCESSWIRE / February 16, 2017 / The Board of Directors of Lovitt Resources Inc. (TSX-V: LRC.H) (OTC PINK: LRCFF) (the "Company") is pleased to announce that its wholly owned subsidiary, the Lovitt Mining Company Inc. ("LMC"), sold a building in Wenatchee, WA for net cash proceeds of US $424,000. The building was built for fruit storage in 1962 for US $22,000 when the company owned apple orchards in the area. About half the proceeds will be used to reduce long term debt with the balance allocated to working capital, mineral property acquisition, and exploration and development of the Lovitt gold mine property. LMC owns the Lovitt Gold Mine on patented land in the Wenatchee, WA area and 250 acres surrounding the mine property. Equity dilution has been avoided since 2012 by selling real estate surplus to the requirements of the mine. Ten acres of land are currently for sale for US $300,000, and if a sale is made, the proceeds should be adequate to fund the company through 2017. Most of the landholdings of the company were purchased in the 1950's for $ 50-60 per acre. The Lovitt Gold Mine, located in central Washington State, suspended operations in 1966 after producing 420,000 oz of gold and 620,000 oz of silver over the previous sixteen year period, with an average grade of 0.40 oz of gold per ton (or 13.7 gm Au/t). The directly adjoining Cannon Mine to the northwest produced 1,200,000 oz of gold and 1,900,000 oz of silver between 1984 and 1995 at an average grade of 0.30 oz Au/ton (or 10.3 gm Au/t). When the Cannon Mine hit significant gold mineralization in a diamond drill program prior to production, over seventy companies acquired mineral rights in the surrounding area. Teck Corporation was instrumental in the success of Lovitt Resources Inc., formerly Grange Gold Corporation, acquiring control and ultimately ownership of the Lovitt Mine. In a regional diamond drill exploration program, Cannon Mine geologists discovered significant gold intersections along a NE-SW strike of seven miles, with the Lovitt and Cannon Mines in the center of the known trend. This news release was reviewed and approved by our Director James M. Proudfoot, P Eng., a qualified person under NI 43-101. For more detailed information, please refer to the website of the Company at: http://www.lovittresources.com email: info@lovittresources.com or call the Company at (509)668-8170. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release. WARNING: The Company relies on litigation protection for "forward-looking" statements. Actual results could differ materially from those described in the news release as a result of numerous factors, some of which are outside the control of the Company. This news release does not constitute an offer to sell or a solicitation of an offer to sell 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 within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. VANCOUVER, BC / ACCESSWIRE / February 16, 2017 / The Board of Directors of Lovitt Resources Inc. (TSX-V: LRC.H) (OTC PINK: LRCFF) (the "Company") is pleased to announce that its wholly owned subsidiary, the Lovitt Mining Company Inc. ("LMC"), sold a building in Wenatchee, WA for net cash proceeds of US $424,000. The building was built for fruit storage in 1962 for US $22,000 when the company owned apple orchards in the area. About half the proceeds will be used to reduce long term debt with the balance allocated to working capital, mineral property acquisition, and exploration and development of the Lovitt gold mine property. LMC owns the Lovitt Gold Mine on patented land in the Wenatchee, WA area and 250 acres surrounding the mine property. Equity dilution has been avoided since 2012 by selling real estate surplus to the requirements of the mine. Ten acres of land are currently for sale for US $300,000, and if a sale is made, the proceeds should be adequate to fund the company through 2017. Most of the landholdings of the company were purchased in the 1950's for $ 50-60 per acre. The Lovitt Gold Mine, located in central Washington State, suspended operations in 1966 after producing 420,000 oz of gold and 620,000 oz of silver over the previous sixteen year period, with an average grade of 0.40 oz of gold per ton (or 13.7 gm Au/t). The directly adjoining Cannon Mine to the northwest produced 1,200,000 oz of gold and 1,900,000 oz of silver between 1984 and 1995 at an average grade of 0.30 oz Au/ton (or 10.3 gm Au/t). When the Cannon Mine hit significant gold mineralization in a diamond drill program prior to production, over seventy companies acquired mineral rights in the surrounding area. Teck Corporation was instrumental in the success of Lovitt Resources Inc., formerly Grange Gold Corporation, acquiring control and ultimately ownership of the Lovitt Mine. In a regional diamond drill exploration program, Cannon Mine geologists discovered significant gold intersections along a NE-SW strike of seven miles, with the Lovitt and Cannon Mines in the center of the known trend. This news release was reviewed and approved by our Director James M. Proudfoot, P Eng., a qualified person under NI 43-101. For more detailed information, please refer to the website of the Company at: http://www.lovittresources.com email: info@lovittresources.com or call the Company at (509)668-8170. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release. WARNING: The Company relies on litigation protection for "forward-looking" statements. Actual results could differ materially from those described in the news release as a result of numerous factors, some of which are outside the control of the Company. This news release does not constitute an offer to sell or a solicitation of an offer to sell 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 within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.


News Article | February 16, 2017
Site: www.accesswire.com

VANCOUVER, BC / ACCESSWIRE / February 16, 2017 / The Board of Directors of Lovitt Resources Inc. (TSX-V: LRC.H) (OTC PINK: LRCFF) (the "Company") is pleased to announce that its wholly owned subsidiary, the Lovitt Mining Company Inc. ("LMC"), sold a building in Wenatchee, WA for net cash proceeds of US $424,000. The building was built for fruit storage in 1962 for US $22,000 when the company owned apple orchards in the area. About half the proceeds will be used to reduce long term debt with the balance allocated to working capital, mineral property acquisition, and exploration and development of the Lovitt gold mine property. LMC owns the Lovitt Gold Mine on patented land in the Wenatchee, WA area and 250 acres surrounding the mine property. Equity dilution has been avoided since 2012 by selling real estate surplus to the requirements of the mine. Ten acres of land are currently for sale for US $300,000, and if a sale is made, the proceeds should be adequate to fund the company through 2017. Most of the landholdings of the company were purchased in the 1950's for $ 50-60 per acre. The Lovitt Gold Mine, located in central Washington State, suspended operations in 1966 after producing 420,000 oz of gold and 620,000 oz of silver over the previous sixteen year period, with an average grade of 0.40 oz of gold per ton (or 13.7 gm Au/t). The directly adjoining Cannon Mine to the northwest produced 1,200,000 oz of gold and 1,900,000 oz of silver between 1984 and 1995 at an average grade of 0.30 oz Au/ton (or 10.3 gm Au/t). When the Cannon Mine hit significant gold mineralization in a diamond drill program prior to production, over seventy companies acquired mineral rights in the surrounding area. Teck Corporation was instrumental in the success of Lovitt Resources Inc., formerly Grange Gold Corporation, acquiring control and ultimately ownership of the Lovitt Mine. In a regional diamond drill exploration program, Cannon Mine geologists discovered significant gold intersections along a NE-SW strike of seven miles, with the Lovitt and Cannon Mines in the center of the known trend. This news release was reviewed and approved by our Director James M. Proudfoot, P Eng., a qualified person under NI 43-101. For more detailed information, please refer to the website of the Company at: http://www.lovittresources.com email: [email protected] or call the Company at (509)668-8170. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release. WARNING: The Company relies on litigation protection for "forward-looking" statements. Actual results could differ materially from those described in the news release as a result of numerous factors, some of which are outside the control of the Company. This news release does not constitute an offer to sell or a solicitation of an offer to sell 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 within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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