THUNDER BAY,
ON, Nov. 22, 2012 /CNW/ -
Kesselrun Resources Ltd (TSXV:KES) (the "Company") reports that as
a result of a review by the BC Securities Commission, we are
issuing the following news release to clarify our disclosure set
out on our website.
Changes have been made to the company's website
and the information contained in our corporate presentation's dated
July 2012 and November 2012, previously available on our
website. These presentations had several references to large
gold ounce quantities with an approximate grade, disclosed as a
target objective associated with mineral deposits on the Company's
flagship Bluffpoint property (the "Property") These references were
not compliant with National Instrument 43-101 ("NI 43-101").
The Company's September 10, 2012 news
release also referred to these non-compliant presentations. We have
removed these statements because current project data is
insufficient to estimate ranges of grades and tonnes as required by
section 2.3(2) of NI 43-101. Prior disclosure also omitted
cautionary language required by s.2.3 of NI 43-101 which requires
us to explain the conceptual nature of an exploration target, and
the uncertainty that further exploration will delineate a mineral
resource. The Company has restated the Bluffpoint exploration
target as follows: Our ongoing exploration program will test and
expand on a zone outlined by historic and recent trenching between
500-700 metres in strike length and 100-150 wide with recent
trenching results of 1.72 g/t Au over 20.2 metres and 5.02 g/t Au
over 9.2 metres (see Sept. 10, 2012
and Oct. 18, 2012 news releases for
more detailed results).
In addition, the Company had previously posted
on its website an article dated October 26,
2012 by www.allpennystocks.com disclosing a similar gold
quantity and indicating the project is "economically feasible."
That disclosure was not in compliance with s2.3 of NI 43-101.
As a result, the Company has removed that article from its website,
explicitly retracts that disclosure and specifically retracts any
inferences regarding economic viability and potential target
deposit size of the Property. The Company also explicitly states
that it has not undertaken any preliminary feasibility study or
preliminary economic assessment with respect to the Property. The
Company further cautions readers that the project currently does
not have any NI 43-101 compliant mineral resources or mineral
reserves and may not be economically feasible.
The Company filed on Sedar.com a NI 43-101
technical report entitled "Aleeyah Capital Corp. Technical Report
On The Bluffpoint Gold Project Kenora Mining Division Ontario,
Canada" authored by Charley Murahwi of Micon International Limited
dated April 12, 2012. This report
presents information on the Property compliant with NI43-101 and
fully describes all work programs completed up to December 31, 2011. There have been no
material changes with respect to the Property since this date that
have not been promptly disclosed in news releases. At this time,
there is no reason to believe that sufficient work has been
completed on the Property to estimate a mineral resource or mineral
reserve.
Both our website and our investor presentation
have been revised to disclose Michael
Thompson P. Geo. as our Qualified Person responsible for the
technical disclosure as required by section 3.1 of NI 43-101.
Our revised presentation is available on our
website. The reader is cautioned not to rely on the non-compliant
information previously posted on the website or otherwise found in
the public domain.
Michael Thompson, P. Geo.,
President & CEO of Kesselrun, is the Qualified Person
responsible for the Bluffpoint project as defined by National
Instrument 43-101 and has approved the technical information in
this news release.
About Kesselrun Resources Ltd.
Kesselrun Resources is a newly formed
Thunder Bay, Ontario-based mineral
exploration company focused on growth through property acquisitions
and discoveries. Kesselrun's management team possesses strong
geological and exploration expertise with particular experience in
Northwest Ontario. For more
information about Kesselrun Resources, please visit
www.kesselrunresources.com. Forward Looking Statements This release
includes certain statements that may be deemed to be
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address events or
developments that the Company expects to occur, including without
limitation, the private placement, are forward looking statements.
Forward looking statements are statements that are not historical
facts and are generally, but not always, identified by the words
"expects", "plans", "could" or "should" occur. Although the Company
believes the expectations expressed in such forward looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results may differ
materially from those in forward looking statements. Factors that
may cause the actual results to differ materially from those in
forward-looking statements include gold prices, results of
exploration and development activities, regulatory changes, defects
in title, availability of materials and equipment, timeliness of
government approvals, continued availability of capital and
financing and general economic, market or business conditions. The
Company cautions the foregoing list of important factors is not
exhaustive. Investors and others who base themselves on the
Company's forward-looking statements should carefully consider the
above factors as well as the uncertainties they represent and the
risk they entail. The Company believes that the expectations
reflected in those forward-looking statements are reasonable, but
no assurance can be given that these expectations will prove to be
correct. Please see the public filings of the Company at
www.sedar.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.
SOURCE Kesselrun Resources Ltd.