VANCOUVER, April 20 /PRNewswire/ - Callinan Mines Limited
("Callinan") (TSX.V: CAA) announces that it has filed a Notice of
Intention to Make a Normal Course Issuer Bid with the TSX Venture
Exchange ("TSX.V") and received acceptance for filing
thereof with respect to the purchase at market prices of up to
2,400,000 of its common shares by way of a normal course issuer bid
(the "Bid") through the facilities of the TSX.V. The Bid will
commence on or after April 27, 2011
and will end on December 31, 2011 or
on such earlier date as Callinan may complete its purchases
pursuant to the Bid or as it may otherwise determine.
Callinan is engaging in the Bid because it
believes that the market price of its common shares does not
properly reflect the underlying value of Callinan. Purchases
pursuant to the Bid will be conducted through Haywood Securities
Inc.
Mike Muzylowski
Mike Muzylowski
President and CEO
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 news release contain
forward-looking information. These statements address future
events and conditions and, as such, involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the statements. Such factors include, among others, the
timing and amount of expenditures. Callinan does not assume the
obligation to update any forward-looking statement.
SOURCE Callinan Mines Ltd.