Canadian International Minerals Inc. (CIN-TSX.V) Acquires Interest in Reindeer River Syndicate in Saskatchewan
Thu, 13 Mar, 2014 4:25 PM EDT
ca.finance.yahoo.com
Vancouver, BC / ACCESSWIRE / March 13, 2014 / Canadian International Minerals Inc. (CIN-TSX.V, the "Company") announces that it has acquired a 25% interest in the private Reindeer River Syndicate (the "Syndicate"). The Syndicate has acquired 100% interest in 33 claims totalling 67,350 hectares (166,422 acres) by staking. The Company earned its interest by contributing research and direct staking costs related to acquiring the permits from the Saskatchewan government. There are no royalties or further commitments to the company's 25% interest in the syndicate other than assessment requirements to maintain the permits as per Saskatchewan government regulations. The Company is presently negotiating to increase its interest to 100% in the Syndicate, which will be conditional on its financial ability to fund a meaningful exploration program in 2014.
The Syndicate is presently compiling and evaluating a substantial data base of previous exploration work including several airborne geophysical surveys. Previous exploration focused on precious and base metals and the syndicate is reviewing the diamond and uranium potential of the claims. The claims cover approximately 80 km of a major regional fault structure in the interpreted Saskatchewan Craton and are centered approximately 150 km north east from La Ronge, Saskatchewan.
The technical data in this news release has been reviewed by Thomas Hasek, P. Eng. a Qualified Person under the terms of N.I. 43-101. The transaction is subject to the acceptance of the TSX Venture Exchange.
On behalf of the Board of Directors,
"Michael E. Schuss"
Michael E. Schuss
President and Chief Executive Officer
For further information on Canadian International Minerals Inc. please visit the company website at www.cin-v.com or contact Michael E. Schuss at 604-241-2254.
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.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS: Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Canadian International Minerals Inc. undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements |
