TORONTO, May 30, 2018 (GLOBE NEWSWIRE) -- Rupert Resources Ltd (“Rupert” or “the Company”) reports that on May 30th 2018 it filed a technical report prepared in accordance with National Instrument 43-101 ("NI 43-101") on the Pahtavaara Gold Project (the "Report"). The Report supports the disclosure made by the Company in its news release on April 16th, 2018 entitled "Rupert Resources reports NI 43-101 Inferred Resource for the Pahtavaara Project in Northern Finland" and there are no material differences in the mineral resources contained in the Report from those disclosed in the news release.
The Report entitled "NI 43-101 Technical Report: Pahtavaara Project, Finland" was prepared by independent "Qualified Person" (as the term is defined in NI 43-101) Brian Wolfe, Principle Resource Geologist of International Resource Solutions Pty Ltd, Perth, Australia.
The Report is available for review on both SEDAR (www.sedar.com) and the Company's website (www.rupertresources.com).
About Rupert
Rupert is a Canadian based gold exploration and development company that is listed on the TSX Venture Exchange under the symbol “RUP”. The Company owns the Pahtavaara gold mine, mill, and exploration permits and concessions located in the Central Lapland Greenstone Belt in Northern Finland (“Pahtavaara”) (see the Company’s November 9, 2016 press release). Pahtavaara has an Inferred mineral resource at a 1.5 g/t Au cut off grade of 4.6 Mt at a grade of 3.2 g/t Au (474 koz) (see Company’s release from April 16, 2018). The Company also holds a 100% interest two properties in Central Finland, Hirsikangas and Osikonmaki; the Gold Centre property, which consists of mineral claims located in the Balmer Township, Red Lake, Ontario; and the Surf Inlet Property in British Columbia.
Neither the 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.
Cautionary Note Regarding Forward Looking Statements
This press release contains statements which constitute ”forward-looking statements”, including the statements with respect to those that address potential quantity and/or grade of minerals, potential for minerals, completion of the proposed Transaction, deadlines, regulatory approvals, business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the general risks of the mining industry, as well as those risk factors discussed or referred to in the Company's annual Management's Discussion and Analysis for the year ended February 28, 2017 available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.
National Instrument 43-101, Standards of Disclosure for Mineral Projects
The above mineral resource estimate used “Inferred Mineral Resources”, which is a category per CIM Definition Standards (2014) as required by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
This news release or other disclosure provided by the Company may use the terms “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources”. While these terms are recognized and required by Canadian regulations (under National Instrument 43-101, Standards of Disclosure for Mineral Projects), the SEC does not recognize them. United States investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted to reserves.
In addition, “Inferred Mineral Resources” have a great amount of uncertainty as to their existence and economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian securities legislation, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, although they may form, in certain circumstances, the basis of a “preliminary economic assessment” as that term is defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. U.S. investors are cautioned not to assume that part or all of an Inferred Mineral Resource exists, or is economically or legally mineable.
For further information, please contact:
| James Withall Chief Executive Officer jwithall@rupertresources.com | Thomas Credland Head of Corporate Development tcredland@rupertresources.com |
Rupert Resources Ltd
82 Richmond Street East, Suite 203, Toronto, Ontario M5C 1P1
Tel: +1 416-304-9004
Web: http://rupertresources.com/