Symbol:
ASX: CHN TSX: CXN
Shares
outstanding: 287
million
Fully
diluted:
292 million
|
PERTH, Western Australia, Nov.
18, 2014 /CNW/ - Chalice Gold Mines ("Chalice" or
"The Company") ASX:CHN TSX:CXN advises that, as a result of a
review by staff of the Ontario Securities Commission, the Company
issues the following news release to clarify aspects of the
Company's disclosure.
Chalice completed the acquisition of the Cameron Gold Project
from Coventry Resources Inc. ("Coventry") in February 2014. In the Company's corporate
presentation included on the Company's website titled "Well
funded, Experienced Exploration and Development Company" dated
February 2014 ("the Corporate
Presentation"), reference is made to the Preliminary Economic
Assessment ("PEA") relying on a previously filed Technical Report
prepared for Coventry in February 2013.
Under the National Instrument 43-101, Chalice was required to
file a Technical Report for the Cameron Gold Project within 180
days of acquiring the asset. A Technical Report was
subsequently filed by Chalice on July 28,
2014. The Technical Report included a revised Mineral
Resource estimate for the Cameron Gold Project but did not include
a PEA.
To the best of the Company's knowledge and belief, there is no
new material scientific or technical information that would make
the disclosure of the results of the Coventry PEA relating to the
Cameron Gold Project inaccurate or misleading. However, as Chalice
has not updated or prepared a revised PEA for inclusion in its
Technical Report filed in July 2014,
reliance should not be placed on the PEA disclosures made in the
Corporate Presentation. As such, the Company will not refer
to the economic results of the Coventry PEA in future
disclosures.
This clarifying news release is authorised by Tim Goyder the Managing Director of the
Company.
Forward Looking Statements
This document may contain
forward-looking information within the meaning of Canadian
securities legislation and forward-looking statements within the
meaning of the United States Private Securities Litigation Reform
Act of 1995 (collectively, "forward-looking statements").
These forward-looking statements are made as of the date of this
document and Chalice Gold Mines Limited (the Company) does not
intend, and does not assume any obligation, to update these
forward-looking statements, except as required by law or
regulation.
Forward-looking statements relate to future events or future
performance and reflect Company management's expectations or
beliefs regarding future events and include, but are not limited
to, statements regarding the quantum and price of shares to be
acquired under a share buyback, the estimation of mineral reserves
and mineral resources, the realisation of mineral reserve
estimates, the likelihood of exploration success, the timing and
amount of estimated future production, costs of production, capital
expenditures, success of mining operations, environmental risks,
unanticipated reclamation expenses, title disputes or claims and
limitations on insurance coverage.
In certain cases, forward-looking statements can be identified
by the use of words 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
or results may, could, would, might or will be taken, occur or be
achieved or the negative of these terms or comparable
terminology. By their very nature forward-looking statements
involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of
the Company to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements. Such factors include, among
others; risks related to actual results of current exploration
activities; changes in project parameters as plans continue to be
refined; future prices of mineral resources; possible variations in
ore reserves, grade or recovery rates; accidents, labour disputes
and other risks of the mining industry, as well as those factors
detailed from time to time in the Company's interim and annual
financial statements, all of which are filed and available for
review on SEDAR at sedar.com. Although the Company has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements.
SOURCE Chalice Gold Mines Limited