Yellowhead Mining Inc. appoints Cliveden AG for Marketing Advisory Services
14 February 2012 - 1:00AM
PR Newswire (Canada)
TSX-V:YMI VANCOUVER, Feb. 13, 2012 /CNW/ - Yellowhead Mining Inc.
announces the appointment of Cliveden AG of Zug, Switzerland as the
Company's exclusive advisor for the marketing of the Harper Creek
copper concentrates. Ian Smith, CEO said, "We are very pleased to
welcome Cliveden AG and its Managing Director, Mark Forsyth, to our
management team. Mark brings a wealth of experience and will
play a very important role as we fast track our Harper Creek
Project through detailed feasibility, permitting, engineering,
financing, construction and production." About Mark Forsyth and
Cliveden AG Mark Forsyth formed Cliveden AG in September
2010. He has acquired experience in commodity trading for a
range of metals and concentrates including copper, lead and zinc.
He has spent 25 years working in commodity trading houses in London
and Switzerland. His background stretches across all aspects of the
non ferrous trading spectrum from operations, shipping, hedging and
marketing and he has an extensive global network within the metals
producer, transportation, smelting, refining and trading
communities. About Yellowhead Mining Inc. and the Harper Creek
Project The Harper Creek Project is a copper-gold-silver
volcanogenic sulphide deposit with a Measured and Indicated
Resource of 563.2 million tonnes grading 0.31% Cu (3.6 billion
pounds of copper) plus 0.032 g/t gold and 1.08 g/t silver, plus an
Inferred Resource of 117 million tonnes grading 0.29% Cu (0.7
billion pounds of copper). The Harper Creek Project is located in
south-central British Columbia, approximately 150 kilometers by
highway north of Kamloops. Yellowhead has a 100% interest in
the Harper Creek development project((1) ). A Preliminary
Economic Assessment Report ("PEA"), which demonstrated the
technical and economic viability of the Project, was completed at
the end of March and filed on SEDAR on April 1, 2011 and can be
viewed on www.sedar.com. The PEA demonstrated a 22 year
project life at a milling rate of 70,000 tonnes per day, a planned
production of 149 million lbs. copper in concentrate per annum for
years one to eight, (132Mlb/y LOM), a life-of-mine stripping ratio
0.88:1, a pre-tax IRR of 19.8% with a base case copper price of
US$2.66/lb., an NPV8 of US$598 million and a capital cost of C$759
million in Q4 2010 dollars, including contingency with a 4 year
payback((2)). (1) (Subject to the payment of a 3% NSR royalty
capped at $2.5 million, adjusted for inflation and an additional
2.5% NSR royalty on an estimated 3.3 million tonnes of ore which is
expected to be mined beginning in year nine within the NI 43-101
resource.) (2) Mineral resources are not mineral reserves and do
not have demonstrated economic viability. FORWARD-LOOKING
STATEMENTS AND CAUTIONARY DISCLAIMER Except for statements of
historical fact, this news release contains certain
"forward-looking information" within the meaning of applicable
securities laws. Forward-looking information is frequently
characterized by words such as "plan", "expect", "project",
"intend", "believe", "anticipate", "estimate" and other similar
words, or statements that certain events or conditions "may" or
"will" occur. Forward-looking statements are based on the opinions
and estimates of management at the date the statements are made,
and are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ
materially from those anticipated in the forward-looking
statements, including, among others, the accuracy of mineral grades
and related assumptions, inherent operating risks, planned
expenditures, proposed exploration and development at the Harper
Creek Project, operating and economic aspects of the Harper Creek
Project, as well as those risk factors identified in the Company's
Annual Information Form filed under the Company's SEDAR profile.
Yellowhead undertakes no obligation to update forward-looking
information if circumstances or management's estimates or opinions
should change except as required by law. The reader is cautioned
not to place undue reliance on forward-looking statements. More
detailed information about potential factors that could affect
financial results is included in the documents filed from time to
time with the Canadian securities regulatory authorities by
Yellowhead. This news release includes disclosure of scientific and
technical information, as well as information in relation to the
calculation of re-sources, with respect to the Harper Creek
Project. Yellowhead's disclosure of mineral resource information is
governed by National Instrument 43-101 - Standards of Disclosure
for Mineral Projects ("NI 43-101") under the guidelines set out in
the Canadian Institute of Mining, Metallurgy and Petroleum (the
"CIM") Standards on Mineral Resources and Mineral Reserves, adopted
by the CIM Council, as may be amended from time to time by the CIM
("CIM Standards"). There can be no assurance that mineral resources
will ultimately be converted into mineral reserves. Mineral
resources are not mineral reserves and do not have demonstrated
economic viability. This news release uses the terms "measured",
"indicated" and "inferred" resources. U.S. persons are advised that
while such terms are recognized and required by Canadian
regulations, the U.S. Securities and Exchange Commission does not
recognize them. "Inferred Resources" have a great amount of
uncertainty as to their existence and as to their economic and
legal feasibility. It cannot be assumed that all or any part of an
inferred resources will ever be upgraded to a higher category.
Under Canadian rules, estimates of inferred resources may not form
the basis of feasibility or other economic studies. U.S. persons
are cautioned not to assume that all or any part of measured or
indicated resources will ever be converted into reserves. U.S.
persons are also cautioned not to assume that all or any part of an
inferred mineral resource exists, or is economically or legally
mineable. Neither the TSX Venture Exchange Inc. 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. Yellowhead Mining Inc. CONTACT: Ronald
Handford, Executive Vice President, Corporate
Developmentrhandford@yellowheadmining.comTel. 604.681.1709 ext.
204Website: www.yellowheadmining.comTwitter:
http://twitter.com/YMI_Mining
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