DNI METALS INC. TORONTO, Jan. 16, 2012 /CNW/ - DNI Metals Inc. is
pleased to announce a mineral resource of REE-Y-Sc-Th, to report
estimates for REE-Y-Sc-Th contained within the 250,092,000 short
ton Buckton maiden inferred resource (announced Oct24/2011) which
related only to Base metals, Uranium and Lithium. The REE-Y-Sc-Th
resource being announced is, accordingly, supplemental to
Mo-Ni-U-V-Zn-Cu-Co-Li previously announced in the Buckton maiden
inferred resource, all of which are hosted in a 5.7 sq km portion
of the Buckton Mineralized Zone believed to extend over 26 sq km.
To the extent that REE-Y-Sc-Th are incidentally recovered during
leaching of base metals from the mineralized black shales
comprising the Zone, they are co-products which can be expected to
offer additional value recoverable from the Buckton Zone. As
outlined in the technical report for the Property dated Oct28/2008
(announced Nov10/2008, revised in press release of Jul15/2011), the
Buckton Mineralized Zone is a conceptual target for further
exploration based on surface sampling and historic widely spaced
drilling. This Zone is projected to extend over 26 sq km and is
open in three directions. Sufficient drilling was completed over a
portion of this Zone by DNI to classify a portion of it to an
initial inferred resource extending over 5.7 sq km. The Buckton
Mineralized Zone is one of six mineralized systems, or zones,
identified on the 2,720 square kilometer Property, and it is the
most advanced with sufficient drilling to enable estimation of
mineral resources over a portion of it. The resource study for
REE-Y-Sc-Th (the "Buckton Supplementary REE Resource Study") was
prepared by Apex Geoscience Ltd ("Apex"), Edmonton, under the
supervision of Mr.Roy Eccles PGeol and Mr.Michael Dufresne PGeol,
who are the Qualified Persons in connection with its preparation
and are independent of DNI. The Study relies on DNI's 2010-2011
winter drilling over the Zone, together with historic drilling from
the area. The foregoing drilling campaigns were implemented by Apex
under the supervision of Mr.Dufresne. DNI completed verification
sampling and analysis of archived core from some of the historic
drilling in 2008 and 2009. The Study complies with National
Instrument 43-101 and CIM resource estimation guidelines. This
press release is a summary of salient conclusions from the Buckton
REE Resource Study report which will be filed to SEDAR shortly. The
report will also be available from DNI's website www.dnimetals.com
once it is filed. The REE-Y-Sc-Th inferred mineral resource
reported by the Buckton Supplementary REE Resource Study is
classified as an inferred resource consisting of 250,092,000 short
tons (226,880,000 metric tonnes) of mineralized Second White
Speckled black Shale, beneath less than 75m of overburden cover,
which is mineralized with recoverable Lanthanum (La), Cerium (Ce),
Praseodymium (Pr), Neodymium (Nd), Samarium (Sm), Europium (Eu),
Gadolinium (Gd), Terbium (Tb), Dysprosium (Dy), Yttrium (Y),
Scandium (Sc) and Thorium (Th), representing an average recoverable
grade of 0.48 lb/ton TREOY (Total rare earth oxides including
Y, excluding Sc and Th) in addition to 0.02 lb/ton Sc and
0.02 lb/ton Th. These metals are supplemental to Base metals,
Uranium and Lithium contained within the Buckton maiden inferred
resource previously announced (Oct24/2011). The resource includes
124,031,000 short tons and 19,847,000 short tons of similar grading
material which are under less than 50m and 25m of overburden cover,
respectively. Details of the Buckton REE-Y-Sc-Th inferred resource
reported by the Buckton Supplementary REE Resource Study are
tabulated below.
__________________________________________________________________________________________
|REE-Y-Sc-Th Resource Estimate Supplementary to the Buckton Maiden
Inferred Resource (table| | cnt'd below) |
|__________________________________________________________________________________________|
|REE-Y-Sc-Th| 250,092,000 | |Inferred | | |Resource | |
|Mineralized| | |Shale | | |(tons) | |
|___________|______________________________________________________________________________|
| | La2O3 | Ce2O3 | Pr2O3 | Nd2O3 | Sm2O3 | Eu2O3 | Gd2O3 | Tb2O3 |
|___________|__________|__________|_________|__________|_________|_______|_________|_______|
|Raw Grade | 60 | 96 | 13 | 50 | 11 | 2 | 10 | 2 | |(ppm) | | | | |
| | | |
|___________|__________|__________|_________|__________|_________|_______|_________|_______|
|Recovery | 70% | 70% | 65% | 70% | 85% | 85% | 85% | 90% | |% | |
| | | | | | |
|___________|__________|__________|_________|__________|_________|_______|_________|_______|
|Recoverable| 42 | 67 | 8 | 35 | 9 | 2 | 8 | 1 | |Grade | | | | | |
| | | |(ppm) | | | | | | | | |
|___________|__________|__________|_________|__________|_________|_______|_________|_______|
|Recoverable| 0.042 | 0.067 | 0.008 | 0.035 | 0.009 | 0.002 | 0.008
| 0.001 | |Grade | | | | | | | | | |(kg/tonne) | | | | | | | | |
|___________|__________|__________|_________|__________|_________|_______|_________|_______|
|Recoverable| 0.084 | 0.135 | 0.017 | 0.069 | 0.018 | 0.004 | 0.016
| 0.003 | |Grade | | | | | | | | | |(lb/ton) | | | | | | | | |
|___________|__________|__________|_________|__________|_________|_______|_________|_______|
|Metal | 43 | 41 | 81 | 93 | 39 | 1,203 | 56 | 1,017 | |Prices | |
| | | | | | | |(US$/kg) | | | | | | | | |
|___________|__________|__________|_________|__________|_________|_______|_________|_______|
|Recoverable|9,475,841 |15,258,501|1,911,792|7,868,316
|2,047,474|417,068|1,831,110|303,420| |Metal Oxide| | | | | | | | |
|(kg) | | | | | | | | |
|___________|__________|__________|_________|__________|_________|_______|_________|_______|
|Recoverable|20,846,850|33,568,702|4,205,942|17,310,295|4,504,443|917,550|4,028,442|667,524|
|Metal Oxide| | | | | | | | | |(lb) | | | | | | | | |
|___________|__________|__________|_________|__________|_________|_______|_________|_______|
*See notes below.
________________________________________________________________________________________________
| REE-Y-Sc-Th Resource Estimate Supplementary to the Buckton Maiden
Inferred Resource |
|________________________________________________________________________________________________|
|REE-Y-Sc-Th| 250,092,000 | |Inferred | | |Resource | |
|Mineralized| | |Shale | | |(tons) | |
|___________|____________________________________________________________________________________|
| | Dy2O3 | Ho2O3| Er2O3 | Tm2O3 | Yb2O3 | Lu2O3 | Y2O3 | Sc2O3 |
ThO2 |
|___________|_________|_______|_________|_______|_________|_______|__________|_________|_________|
|Raw Grade | 8 | 2 | 5 | 1 | 5 | 1 | 58 | 17 | 11 | |(ppm) | | | |
| | | | | |
|___________|_________|_______|_________|_______|_________|_______|__________|_________|_________|
|Recovery | 90% | 75% | 90% | 75% | 80% | 75% | 90%| 55% | 80% | |%
| | | | | | | | | |
|___________|_________|_______|_________|_______|_________|_______|__________|_________|_________|
|Recoverable| 7 | 1 | 4 | 1 | 4 | 1 | 52 | 10 | 9 | |Grade | | | |
| | | | | | |(ppm) | | | | | | | | | |
|___________|_________|_______|_________|_______|_________|_______|__________|_________|_________|
|Recoverable| 0.007 | 0.001 | 0.004 | 0.001 | 0.004 | 0.001 | 0.052
| 0.010 | 0.009 | |Grade | | | | | | | | | | |(kg/tonne) | | | | |
| | | | |
|___________|_________|_______|_________|_______|_________|_______|__________|_________|_________|
|Recoverable| 0.015 | 0.003 | 0.009 | 0.001 | 0.007 | 0.001 | 0.104
| 0.019 | 0.018 | |Grade | | | | | | | | | | |(lb/ton) | | | | | |
| | | |
|___________|_________|_______|_________|_______|_________|_______|__________|_________|_________|
|Metal | 548 | 276 | 240 | 97 | 77 | 719 | 57 | 3,528 | 252 |
|Prices | | | | | | | | | | |(US$/kg) | | | | | | | | | |
|___________|_________|_______|_________|_______|_________|_______|__________|_________|_________|
|Recoverable|1,682,194|284,728| 964,717 |117,273| 819,952
|120,851|11,782,391|2,150,578|2,069,674| |Metal Oxide| | | | | | |
| | | |(kg) | | | | | | | | | |
|___________|_________|_______|_________|_______|_________|_______|__________|_________|_________|
|Recoverable|3,700,827|626,402|2,122,377|258,001|1,803,894|265,872|25,921,260|4,731,272|4,553,283|
|Metal Oxide| | | | | | | | | | |(lb) | | | | | | | | | |
|___________|_________|_______|_________|_______|_________|_______|__________|_________|_________|
*Metal/Oxide commodity prices used to establish bulk recoverable
values for cut-off grade thresholding tests are the three year
trailing average to Nov17/2011 for La-Ce-Pr-Nd-Sm-Eu-Gd-Tb-Dy and
Y, and the one year trailing average to Nov17/2011 for Ho-Er-Yb-Lu
and Sc. Tm value from Montviel Core Zone REE resources study 2011
by SGS Canada Inc. Th value per USGS Mineral Commodity
Summaries 2008-2010. Metal prices vary among various commodity
information sources and, in all conflicting instances, the lower
pricing was used. The 2011 drilling included an appropriate number
of analytical standards, blanks and duplicates, and no analytical
issues were identified. ton=short ton; lb=pound; kg=Kilogram;
Figures may not add exactly due to rounding. Mineral resources are
not mineral reserves and do not have demonstrated economic
viability. There is no guarantee that all or any part of the
mineral resource reported herein will be converted into a mineral
reserve. An 'Inferred Mineral Resource' is that part of a Mineral
Resource for which quantity and grade or quality can be estimated
on the basis of geological evidence and limited sampling and
reasonably assumed, but not verified, geological and grade
continuity. The estimate is based on limited information and
sampling gathered through appropriate techniques from locations
such as outcrops, trenches, pits, workings and drill holes. The
individual REEs from the Buckton REE-Y-Sc-Th inferred resource
reported by the Buckton Supplementary REE Resource Study are
grouped and summarized below:
_________________________________________________________________ |
Aggregated REE Summaries (excluding Sc and Th) | |REE-Y-Sc-Th
Resource Estimate Supplementary to the Buckton Maiden| | Inferred
Resource |
|_________________________________________________________________|
| | HREOY* | LREO** | TREOY*** |
|_____________________________|__________|__________|_____________|
|Raw Grade (ppm) | 102 | 229 | 320 |
|_____________________________|__________|__________|_____________|
|Recoverable Grade (ppm) | 90 | 161 | 242 |
|_____________________________|__________|__________|_____________|
|Recoverable Grade (kg/tonne) | 0.08 | 0.16 | 0.24 |
|_____________________________|__________|__________|_____________|
|Recoverable Grade (lb/ton) | 0.16 | 0.32 | 0.48 |
|_____________________________|__________|__________|_____________|
|Recoverable Metal Oxide (kg) |18,323,704|36,561,924| 54,885,628 |
|_____________________________|__________|__________|_____________|
|Recoverable Metal Oxide (lb) |40,312,149|80,436,233| 120,748,382 |
|_____________________________|__________|__________|_____________|
*HREOY (Total Heavy Rare Earth Oxides) = the aggregate of Y203,
Eu203, Gd203, Tb203, Dy203, Ho2O3, Er203, Tm203, Yb203 and Lu203;
**LREO (Total Light Rare Earth Oxides) = the aggregate of La2O3,
Ce2O3, Pr2O3, Nd2O3, Sm2O3. ***TREOY (Total Rare Earth Oxides) =
HREOY plus: La203, Ce203, Pr203, Nd203and Sm203; Figures may not
add up exactly due to rounding; Sc and Th are excluded from totals
tabulated. This REE-Y-Sc-Th resource estimate is intended to be
Supplementary to the Buckton Maiden Inferred Resource and it has
been classified as an inferred resource according to CIM standards.
This classification is based on a number of factors, namely;
limited number of drill holes and their wide spacing, good
continuity of mineralization and geological control between drill
holes and from section to section along approximately 6 km of
strike. The Buckton Supplementary REE Resource Study concludes that
the Buckton inferred mineral resource is mineralization that is
believed to have a reasonable prospect for extraction in the
future. It represents material which is at a depth of less than 75m
from surface, at a US$7.5 per tonne lower cut-off, whose value is
represented by the collective value of contained recoverable
REEs+Y+Sc+Th, relying on the trailing three or one year average to
Nov17/2011 (See above table footnotes for details) and relying on
the best achieved metals recoveries as reported from the collective
of DNI's leaching testwork (see also press Sept8/2011 and
Dec2/2011). The Buckton Supplementary REE resource is open to the
north and northeast, and for approximately 300m eastward to the
erosional edge of the Birch Mountains over a large area with thin
overburden cover where mineralization intermittently outcrops at
surface or is intermittently exposed throughout several kilometres
of valley walls. The Buckton Supplementary REE Resource Study
relies on an aggregate of eleven vertical core holes distributed
over an area of approximately 5.7 square kilometres, and
spaced approximately 240m-2400m apart (averaging 1000m).
Notwithstanding systematic vertical grade variations or zonation
within the Second White Speckled Shale Formation, bulk averaged
grades across the Formation show good uniformity over large
distances across the Property. Considering this uniformity, the
spacing and number of holes are considered sufficient for the
determination of inferred resources, and extrapolation of grades
between the drill holes is supported by statistical variography
examined during the Study. Whereas base metals and uranium within
the Speckled Shale Formation are typically better enriched over its
upper portions, REEs are better concentrated over the lower
portions of the Formation and are believed to occur principally in
ionic form as charged particles adsorbed on clays. The Buckton
supplementary REE resource comprises an approximately 5.7 square
kilometer, 13m to 23m thick, near-horizontal tabular zone hosted
entirely within the Second White Speckled Shale Formation, bounded
by its upper and lower contacts. This Formation is exposed
throughout the erosional edge of the Birch Mountains but is
overlain westward by progressively thicker sequences of other
shales and till. Given the uniformity of metals grades within the
Shale, the resource is laterally delimited based on depth criteria
rather than continuity of metallic mineralization which extends
well beyond its limits. Presence of the Speckled Shale for at least
6km to its north and south, and beyond, has been confirmed by
oil/gas downhole well logs in the area which report sections of
this Shale over a large area extending well beyond the current
boundaries of the resources. The Buckton Supplementary REE Resource
Study consisted of modeling and tonnage estimation using a
3-dimensional block model based on geostatistical applications
using commercial mine planning software MICROMINE. The sample file
comprised 549 samples of variable length for all lithologies but,
when composited in MICROMINE, yielded a database of 200 sample
composites for the Second White Speckled Shale which were used for
the mineral resource estimation. All drill holes are short vertical
holes and, as such, there are no down-hole surveys. Variography was
conducted on the composited drill hole data within the Second White
Specks shale domain to produce spherical semi variograms. Each
metal was modeled individually to determine the continuity and
orientation of mineralization. As a result of the wide drill hole
spacing a parent model block size of 250mx250mx2m was chosen for
the resource estimate, with sub-blocking down to 25mx25mx1m.
The block model was extended far enough past the mineralized
wireframe to encompass the entire mineralized shale domain. The
recoverable grades for the metals were translated into a US$ value
for each block and sub-block relying on the three and one year
trailing average metal/oxide price to Nov17/2011 as noted in
footnotes to the above tables, and the collective values aggregated
to enable testing against a block value base case cut-off of US$7.5
per tonne being the same cut-off previously utilized for the
Buckton maiden resource study. According to the foregoing method,
the Study concluded that the reported resource represents an
average value of US$52.4 per short ton (US$57.7 per tonne)
representing the aggregate value of recoverable grades for the
fifteen REEs in addition to Sc and Th (Sc accounts for
approximately US$30.3 per short ton, or US$33.5 per tonne, of the
foregoing aggregate values). This cut-off is considered to be a
reasonable benchmark which has been utilized by recent mineral
resource estimates for open pit mineable poly-metallic black shales
in Sweden as the break-even point and lower cut-off. Considering a
scenario of possible open pit mining in northeast Alberta along the
eastern edge of the Birch Mountains, with potential for a low strip
ratio at startup, the likely free-dig nature of the poorly
consolidated Speckled Shale, the potential for easy access to
multiple working faces, the location of the project with respect to
access, power and other important infrastructure, a lower cut-off
value for the mineral resource estimate of US$7.5 per tonne is
considered reasonable by the Study as a base case cut-off threshold
which also captures a relatively continuous mineralized zone with
favourable bulk mining configuration. The Buckton Supplementary REE
Resource Study notes that although the resource reported represents
recoverable REEs which would be incidental co-products to leaching
of base metals and uranium from the Second White Speckled Shale at
the Buckton Mineralized Zone, the values per ton (or tonne)
reported are subject to uncertainties, notably to: (i)
uncertainties in long term REE pricing and viability of demand;
(ii) the unknown effect of new production on REE markets; and (iii)
the ultimate cost of separating REEs from pregnant leaching
solutions once they have been leached from the shale and their
refinement into useable saleable final products. The Buckton
Supplementary REE Resource model was tested and iterated at various
scenarios to estimate tonnages constrained by different overburden
thicknesses at a US$7.5 per tonne cut-off, including estimation of
potential tonnages which are less than 100m-125m below surface. The
Study concluded that mineralized tonnages ranging
401,703,000-551,130,000 short tons can be blocked, with similar
grades as those of the inferred resource being reported, which are
under less than 100m-125m of the surface, which are overlain by
1,410,086,000-2,299,891,000 short tons of overburden. The foregoing
tonnages are not resources and cannot currently be classified as
resources since it is unclear, in the absence of a rigorous
economic assessment, whether they have a reasonable prospect for
extraction in the future given the large tonnages of overburden
cover rocks overlying them. Intentions are to evaluate significance
of the foregoing tonnages in the context of a Preliminary Economic
Assessment Study (Scoping Study) in 2012 and until such time they
are considered to be mineralized material which is a target for
further work whose ultimate quantity and grade are conceptual in
nature as there has been insufficient exploration to define a
mineral resource and it is uncertain whether further exploration
will result in discovery of a mineral resource. The Buckton
Supplementary REE Resource Study concludes that the Buckton
Mineralized Zone Supplementary REE Inferred Resource reported
herein has excellent potential for expansion to the north and
northeast with further drilling, and recommends implementation of
certain additional mineralogical and leaching work, in addition to
a 5,000m diamond drilling program to expand the resource and to
upgrade a portion of it into an Indicated or higher resource
classification. This drilling also includes initial holes to test
the Buckton South Zone located approximately nine kilometres to the
south of the Buckton inferred resources, and which may represent
its southerly extension or an entirely separate similar Zone which
has not yet been drilled (cored) by DNI, although 12m-23m thick
intercepts of the Speckled Shale Formation are reported in downhole
logs from approximately twenty historic oil/gas wells throughout a
100-150 square kilometre area. The Buckton Supplementary REE
Resource Study estimates that the resources reported are overlain
by 762,678,000 short tons (691,890,000 metric tonnes) of overburden
cover material consisting of LaBiche Formation shales and overlying
till. The foregoing overburden material is barren of base metals
and uranium, and was, accordingly, considered to be "waste" by the
Buckton maiden resource study for the purposes of estimating the
base metals and uranium resources. The overburden material does,
however, contain REE, Sc and Li which have not yet been fully
evaluated even though, based on partial analytical data, their
grades are comparable to grades from the Buckton Mineralized Zone
(see press Sept8/2011 and Dec2/2011). DNI's leaching testwork to
determine recovery of specialty metals and REE from the overburden
material has not yet been concluded. Average REE, Sc and Li grades
of all drill hole intercepts across the overburden material are
summarized below as oxides:
_________________________________________________________________ |
Overburden Cover Rocks - REE-Y,Sc and Li - Average Grade of All | |
Drill Intercepts* |
|_________________________________________________________________|
| |La2O3|Ce2O3|Pr2O3|Nd2O3|Sm2O3|Eu2O3|Gd2O3|Tb2O3|Dy2O3 |
|__________|_____|_____|_____|_____|_____|_____|_____|_____|______|
|Raw Grade | 45 | 82 | 9 | 35 | 6 | 2 | 6 | 1 | 5 | |(ppm) | | | |
| | | | | |
|__________|_____|_____|_____|_____|_____|_____|_____|_____|______|
|Raw Grade |0.091|0.164|0.019|0.070|0.013|0.003|0.011|0.002|0.010 |
|(lb/ton) | | | | | | | | | |
|__________|_____|_____|_____|_____|_____|_____|_____|_____|______|
| |
|_________________________________________________________________|
| |Ho2O3|Er2O3|Tm2O3|Yb2O3|Lu2O3|Y2O3 |Sc2O3|ThO2 |Li2CO3|
|__________|_____|_____|_____|_____|_____|_____|_____|_____|______|
|Raw Grade | na | 3 | na | 3 | na | 37 | 22 | na | 379 | |(ppm) | |
| | | | | | | |
|__________|_____|_____|_____|_____|_____|_____|_____|_____|______|
|Raw Grade | na |0.006| na |0.007| na |0.075|0.043| na | 0.76 |
|(lb/ton) | | | | | | | | | |
|__________|_____|_____|_____|_____|_____|_____|_____|_____|______|
| |
|_________________________________________________________________|
| |HREOY|LREO |TREOY| | | | | | |
|__________|_____|_____|_____|_____|_____|_____|_____|_____|______|
|Raw Grade | 57 | 178 | 235 | | | | | | | |(ppm) | | | | | | | | |
|
|__________|_____|_____|_____|_____|_____|_____|_____|_____|______|
|Raw Grade |0.11 |0.36 |0.47 | | | | | | | |(lb/ton) | | | | | | |
| | |
|__________|_____|_____|_____|_____|_____|_____|_____|_____|______|
*See press release Dec2/2011 for detailed underlying data; na = no
data available; HREOY (Total Heavy Rare Earth Oxides) = the
aggregate of Y203, Eu203, Gd203, Tb203, Dy203, Ho2O3, Er203, Tm203,
Yb203 and Lu203; LREO (Total Light Rare Earth Oxides) = the
aggregate of La2O3, Ce2O3, Pr2O3, Nd2O3, Sm2O3. TREOY (Total Rare
Earth Oxides) = HREOY plus: La203, Ce203, Pr203, Nd203and Sm203;
Figures may not add up exactly due to rounding. In a statement
Mr.S.Sabag, DNI's president & CEO, commented: "… we are excited
to have commenced evaluation of the rare earth elements and
specialty metal co-products which are incidentally extracted during
leaching of base metals and uranium from our black shales, since
they will add value to the inferred resources identified at our
Buckton Mineralized Zone. We are particularly excited to have
discovered REEs in the Zone which likely occur as readily
extractable charged ions adsorbed on clays in the shale, with
similarities to REE deposits hosted in bulk mineable ionic adsorbed
clays thus far known to occur only in China, and which are the
principal source of heavy REE world supply. DNI will continue its
work to further expand and upgrade the reported resource at the
Buckton Mineralized Zone and plans to shift near term attention to
evaluating the potential of specialty metals and REEs contained in
the black shale Zone and overburden cover material overlying it".
The Qualified Persons in connection with the preparation of the
Buckton Supplementary REE Resource Study are Mr.Roy Eccles PGeol
and Mr.Michael Dufresne PGeol who are independent of DNI. The
Qualified Person in connection with this press release and in
respect of the Alberta polymetallic black shale projects is
S.F.Sabag PGeo, President and CEO of DNI, who is responsible for
verification and quality assurance of the exploration information
disclosed in connection with the projects and this release.
Ton=short ton; lb=pound; tonne = metric tonne = 1000kg. The 2011
drilling included an appropriate number of analytical standards,
blanks and duplicates, and no analytical issues were identified.
Metal/Oxide commodity prices used to establish bulk recoverable
values for cut-off grade thresholding tests are the three year
trailing average to Nov17/2011 for La-Ce-Pr-Nd-Sm-Eu-Gd-Tb-Dy and Y
(consolidated from www.metal-pages.com), and the one year trailing
average to Nov17/2011 for Ho-Er-Yb-Lu and Sc (consolidated from
www.asianmetal.com). Tm value from Montviel Core Zone REE resources
study 2011 by SGS Canada Inc. Th value per USGS Mineral
Commodity Summaries 2008-2010. Metal prices vary among various
commodity information sources and in all conflicting instances the
lower pricing was used. Analyses by Activation Labs, Ancaster, ON;
Analytical results from the 2011 drilling were announced on
Jul15/2011, along with details of DNI's analytical quality
assurance and quality control parameters. Additional REE and
Specialty Metals grades were announced on Dec2/2011. Archived drill
core from some of the historic drilling was examined, re-sampled
and re-analyzed by DNI as part of its verification sampling program
in 2008-2009. All samples from 2011 drilling were re-analyzed for
REEs in December 2011 by Activation Labs, Ancaster, ON, by
Fusion and Trace Element Fusion ICP (Code8). For detailed
information related to the Buckton maiden inferred resource as it
relates to base metals, Uranium and Li, see the resource study
report "Technical Report, Maiden Resource Estimate, Buckton,
Mineralized Zone, SBH Property, Northeast Alberta", October 18,
2011, Effective date September 30, 2011, by APEX Geoscience Ltd.
This report is available from www.sedar.com and from DNI's website
www.dnimetals.com. For detailed information related to the Buckton
Supplementary REE Inferred Resource estimate being announced,
relating to REE-Y-Sc-Th, see the resource study report "Technical
Report, Supplementary REE-Y-Sc-Th, Inferred Resource Estimate To
Accompany The Maiden Resource Mo-Ni-U-V-Zn-Cu-Co-Li Estimate,
Buckton Mineralized Zone, SBH Property, Northeast Alberta",
December 22, 2011, Effective date January 18, 2012, by APEX
Geoscience Ltd. This report will shortly be available from
www.sedar.com and from DNI's website www.dnimetals.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
release. DNI - TSX Venture DG7 - Frankfurt Issued: 63,090,284 We
seek Safe Harbour. This announcement includes forward looking
statements. While these statements represent DNI's best current
judgment, they are subject to risks and uncertainties that could
cause actual results to vary, including risk factors listed in
DNI's Annual Information Form and its MD&As, all of which are
available from SEDAR and on its website. DNI Metals Inc.
CONTACT: DNI Metals Inc. - Shahe Sabag, President & CEO or
Denis Clement,Chairman - 416-595-1195email ir@dnimetals.com. Also
visit www.dnimetals.com
Copyright