Dalradian Resources Inc. Dalradian Files Ni 43-101 Technical Report For The Updated Mineral Resource Statement For The Currag...
June 22 2018 - 2:00AM
UK Regulatory
TIDMDALR TIDMDALR
TORONTO, June 22, 2018 (GLOBE NEWSWIRE) -- Dalradian Resources Inc.
(TSX:DNA) (AIM:DALR) ("Dalradian" or the "Company") reports that it has
filed on SEDAR the National Instrument 43-101 technical report for its
updated mineral resource statement for the Curraghinalt gold deposit in
Northern Ireland. Highlights of the report were previously announced on
May 10, 2018. Because this latest technical report supersedes any
previous reports and renders them obsolete, the Company has removed the
previous technical report (the 2016 Feasibility Study) from its website
and marketing materials. Updated economics for the Curraghinalt gold
deposit will be announced in the upcoming feasibility study, expected
later this year.
Qualified Persons
The Mineral Resource Statement was prepared in accordance with NI 43-101
by Dr. Oy Leuangthong, PhD, PEng (PEO#90563867), Dominic Chartier, PGeo
(OGQ#874, APGO#2775) and David Machuca, Phd, PEng (PEO#100508889), all
full-time employees of SRK Consulting (Canada) Inc., and Stacy
Fredigmann, PEng (APEGBC #33972) of Canenco Consulting Corp (Canenco).
All authors are considered independent Qualified Persons as defined by
National Instrument 43-101. The Qualified Persons have read and approved
the information contained in this press release.
About Dalradian Resources Inc.
Dalradian Resources Inc. is a mineral exploration and development
company that is focused on advancing its high-grade Curraghinalt Gold
Project located in Northern Ireland, United Kingdom. The Curraghinalt
Project is in permitting, with exploration ongoing to build on the
positive feasibility study released in January 2017.
For more information:
Marla Gale
Vice President Communications
+1 416 583 5600
investor@dalradian.com
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett / Richard Tonthat
+44 (0)20 7383 5100
Numis Securities Limited (Broker)
John Prior / James Black / Paul Gillam
+44 (0)20 7260 1000
FORWARD LOOKING STATEMENTS
This press release contains "forward-looking information" which may
include, but is not limited to, statements with respect to management's
assessment of the anticipated benefits to Dalradian shareholders of the
proposed Orion transaction (the "Transaction"), anticipated meeting date,
timing for completion of the Transaction and delisting from both the TSX
and AIM, the delivery of an updated feasibility study and an updated
technical report, future financial or operating performance of the
Company and its subsidiaries and its mineral project, the future price
of metals, test work and confirming results from work performed to date,
the estimation of mineral resources and mineral reserves, the
realization of mineral resource and mineral reserve estimates, the
timing and amount of estimated future production, costs of production,
capital, operating and exploration expenditures, costs and timing of the
development of new deposits, costs and timing of future exploration,
requirements for additional capital, government regulation of mining
operations, environmental risks, reclamation expenses, title disputes or
claims, limitations of insurance coverage, the timing and possible
outcome of pending regulatory matters and the realization of the
expected production, economics and mine life of the Curraghinalt gold
deposit.
Often, but not always, forward-looking statements can be identified by
the use of words and phrases such as "plans," "expects," "is expected,"
"budget," "scheduled," "estimates," "forecasts," "intends," "anticipates,
" or "believes" or variations (including negative variations) of such
words and phrases, or state that certain actions, events or results "may,
" "could," "would," "might" or "will" be taken, occur or be achieved.
Forward-looking statements are based on the opinions and estimates of
management as of the date such statements are made and are based on
various assumptions that management believes are reasonable, such as the
receipt of all shareholder and regulatory approvals, no undue delays
with respect to the Transaction, effects of general economic conditions,
changing foreign exchange rates and actions by government authorities,
continued political stability in Northern Ireland, that permits required
for Dalradian's operations will be obtained in a timely basis in order
to permit Dalradian to proceed on schedule with its planned exploration
and mine development, construction and production programs, that a
permitting application for mine construction will be approved, that
skilled personnel and contractors will be available as Dalradian's
operations commence and continue to grow towards production and mining
operations, that the price of gold will be at levels that render the
Dalradian's mineral project economic, and that the necessary capital
will be available to finance Dalradian's operations and realize on
mineral resource and mineral reserve estimates and current mine plans.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Dalradian to be materially different from
any future results, performance or achievements expressed or implied by
the forward-looking statements. Such factors include, among others, the
risk that the required Dalradian shareholder approval or necessary court
approvals may not be obtained in connection with the Transaction,
uncertainties associated with negotiations, misjudgments in the course
of preparing forward-looking information, the Transaction may not close
when planned or at all or on the terms and conditions set forth in the
Arrangement Agreement, the benefits expected from the Transaction not
being realized, risks related to the integration of acquisitions,
general business, economic, competitive, political and social
uncertainties; legal challenges to permits or permitting applications;
the actual results of current and future exploration activities; the
actual results of reclamation activities; conclusions of economic
evaluations; meeting various expected cost estimates; changes in project
parameters and/or economic assessments as plans continue to be refined;
future prices of metals; possible variations of mineral grade or
recovery rates; the risk that actual costs may exceed estimated costs;
failure of plant, equipment or processes to operate as anticipated;
accidents, labour disputes and other risks of the mining industry;
political instability; delays in obtaining governmental approvals or
financing or in the completion of development or construction activities,
as well as those factors discussed in the section entitled "Risk
Factors" in the Company's Annual Information Form for the year ended
December 31, 2017 dated March 15, 2018.
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 to differ from those
anticipated, estimated or intended. Forward-looking statements contained
herein are made as of the date of this press release and the Company
disclaims any obligation to update any forward-looking statements,
whether as a result of new information, future events or results, except
as may be required by applicable securities laws. 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.
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Dalradian Resources Inc. via Globenewswire
http://www.dalradian.com/
(END) Dow Jones Newswires
June 22, 2018 02:00 ET (06:00 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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