VANCOUVER, May 16 /PRNewswire/ - Callinan Mines has received an interim payment
of $5,071,197 from HudBay Minerals
Inc. This payment represents 75% of an estimate of 6 ⅔ % of the net
profits plus $0.25 per ton of ore
mined from the 777 Mine in Flin Flon,
Manitoba for the quarter ended March
31st, 2011.
On Behalf of the Board of Directors,
Mike Muzylowski
Mike Muzylowski
President and CEO
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.
Some statements in this news release contain forward-looking
information. These statements include, but are not limited to,
statements with respect to future expenditures. 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 ability to complete contemplated work programs and the
timing and amount of expenditures. Callinan does not assume the
obligation to update any forward-looking statement.
SOURCE Callinan Mines Ltd.