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
Dalradian Cmn (LSE:DALR)
Historical Stock Chart
From Apr 2024 to May 2024
Dalradian Cmn (LSE:DALR)
Historical Stock Chart
From May 2023 to May 2024