Toronto, Ontario–(Newsfile Corp. – November 26, 2014) – As a result of a review by staff of the Ontario Securities Commission, Crown Mining Corporation (TSXV: CWM) (“Crown” or the “Company”) is issuing this news release to clarify its disclosure.
Crown’s investor presentation has been amended to include the effective date of the resource estimate that was reported in the Technical Report for the Superior Copper Project dated November 15, 2013. This report is available on Sedar under the company’s filings and this is now noted in the amended investor presentation.
Technical Report Authorship
Crown’s Technical Report for the Superior Copper Project has been amended and refiled with William F. Tanaka as the sole author and qualified person. The original Technical Report had included a qualified person as a second author who was a not independent of Crown which is contrary to NI 43-101 section 5.3 (1)(c).
Other Unrelated Updates
Crown also reports that UC Resources Ltd. (“UC”) and Crown have elected not to execute the definitive agreement granting UC an option to acquire Crown’s McKenzie Island property in Red Lake, Ontario.
Crown also announces that Donald A. Sheldon has resigned as a director of the company to comply with policies of his law firm. The board wishes to thank Mr. Sheldon for his services to the company and wishes him every success at his new law firm Dickinson Wright LLP.
Crown is focused on advancing its 100% controlled Superior Copper Project in Northeast California. The Superior Project has an inferred mineral resource of 57 million metric tonnes at an average grade of 0.43% with 547 million pounds of contained copper in 2 deposits. Further details of this resource can be found in the Technical Report on the Superior Project dated Nov 15, 2013 and refiled November 7, 2014.
Mr Tanaka is the Qualified Person pursuant to NI 43-101 responsible for, the technical information contained in this news release, and he has reviewed and approved this news release.
For more information please see the Crown website at www.crowngoldcorp.com.
For Further Information Contact:
Mr. Stephen Dunn, President, CEO and director, Crown Gold Corporation (416) 361-2827
or email [email protected]
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.
This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities regulation, including statements regarding the future activities of the Company. Forward-looking statements reflect the current beliefs and expectations of management and are identified by the use of words including “will”, “anticipates”, “expected to”, “plans”, “planned” and other similar words. Actual results may differ significantly. The achievement of the results expressed in forward-looking statements is subject to a number of risks, including those described in the Company’s management discussion and analysis as filed with the Canadian securities regulatory authorities which are available at www.sedar.com. Investors are cautioned not to place undue reliance upon forward-looking statements.