DNI's REE-Y-Sc-Th Resource Study Report for the Buckton Mineralized Zone, Alberta, Filed to SEDAR

DNI METALS INC. (DNI : TSX-Ven)(DG7 : Frankfurt)

TORONTO, Feb. 1, 2012 /CNW/ - DNI Metals Inc. (DNI:TSX-Ven)(DG7:FSE) is pleased to announce that the supplemental resource study related to Rare Earth Elements (REE) and Specialty metals contained within its Buckton polymetallic black shale hosted Zone has been filed to SEDAR. A summary of findings from the study were announced in a press release issued January 16, 2012. The full report, "Technical Report, Supplementary REE-Y-Sc-Th, Inferred Resource Estimate To Accompany The Maiden Resource Mo-Ni-U-V-Zn-Cu-Co-Li Estimate, Buckton Mineralized Zone, SBH Property, Northeast Alberta", January 29, 2012, Effective date January 13, 2012, by APEX Geoscience Ltd., can be obtained from www.sedar.com and from DNI's website www.dnimetals.com.

The Supplementary REE-Y-Sc-Th resource study report was prepared by APEX Geoscience Ltd., Edmonton, and it reports an inferred resource for REE-Y-Sc-Th contained within the 250,092,000 short ton Buckton maiden inferred resource which previously related only to Base metals, Uranium and Lithium (announced Oct24/2011). The REE-Y-Sc-Th resource, announced January 16, 2012, is supplemental to the Mo-Ni-U-V-Zn-Cu-Co-Li Buckton maiden inferred resource, all of which are hosted in a 5.7 sq km portion of the Buckton Mineralized Zone believed to extend over 26 sq km. To the extent that REE-Y-Sc-Th are incidentally recovered during leaching of base metals from the mineralized black shales comprising the Zone, they are co-products which can be expected to offer additional value recoverable from the Buckton Zone.

Recoverable grades and metal/oxide quantities for Base metals, Uranium, REE and Specialty Metals hosted in the Buckton inferred resource are summarized below consolidating findings of the two above resource studies.

Buckton Inferred Resource - 250 million tons
Recoverable Base Metals+U+Li
Metal/Oxide Grade (lb/ton) Recoverable Metal/Oxide (lbs)
MoO3 0.12 28,656,000
Ni 0.27 66,454,000
U3O8 0.07 16,513,000
V2O5 1.03 257,604,000
Zn 0.54 136,065,000
Cu 0.09 22,832,000
Co 0.04 10,412,000
Li2CO3 0.30 75,507,000
    lb=pound; ton=short ton
Buckton Inferred Resource - 250 million tons
Recoverable Co-Product REE+Sc+Th
Oxide Grade (lb/ton) Recoverable Oxide (lbs)
HREOY 0.16 40,312,149
LREO 0.32 80,436,233
TREOY 0.48 120,748,382
Sc2O3 0.019 4,731,272
ThO2 0.018 4,553,283

Additional work is ongoing to optimize leaching parameters for enhanced metal recoveries for some of the metals and REEs. Plans are to shortly initiate a stand-alone resource study to investigate the significance of specialty metals and REEs contained in the approximately 760 million short tons of overburden cover rocks above the Buckton inferred resource to determine whether they are indeed "waste" material or volumes which might add value to the Buckton resource.  Results from this work will be announced as received.

For detailed information related to the Buckton maiden inferred resource as it relates to base metals, Uranium and Li, see the resource study report "Technical Report, Maiden Resource Estimate, Buckton, Mineralized Zone, SBH Property, Northeast Alberta", October 18, 2011, Effective date September 30, 2011, by APEX Geoscience Ltd. This report is available from www.sedar.com and from DNI's website www.dnimetals.com. Report date and effective date for the Supplementary REE-Y-Sc-Th resource study previously announced as December 22, 2011, and January 18, 2012, respectively, were subsequently revised to January 29, 2012, and January 13, 2012, respectively.

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.

DNI - TSX Venture
DG7 - Frankfurt
Issued: 64,376,534

We seek Safe Harbour. This announcement includes forward looking statements. While these statements represent DNI's best current judgment, they are subject to risks and uncertainties that could cause actual results to vary, including risk factors listed in DNI's Annual Information Form and its MD&As, all of which are available from SEDAR and on its website.

 

SOURCE DNI Metals Inc.

For further information:

DNI Metals Inc. - Shahe Sabag, President & CEO or Denis Clement, Chairman - 416-595-1195
email ir@dnimetals.com. Also visit www.dnimetals.com.

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