VANCOUVER, Nov. 28, 2013 /CNW/ - The British Columbia Securities Commission has become aware that Mission
Mining Company, a company based in Nevada with no apparent connection
to B.C. or any jurisdiction in Canada, issued a news release on
November 21, 2013 that claimed it had posted a National Instrument
43-101 report on its website. The report allegedly confirms a very
large mineral resource containing gold and silver, which the company
uses to disclose a very large estimate of purported resource value.
The BCSC is warning the public that Mission Mining has not filed a NI
43-101 report with the BCSC. The report posted on Mission Mining's
website, and the company's related disclosure with respect to the
purported mineral resource and value, does not comply with NI 43-101.
The BCSC urges B.C. investors, agents, or members of the public who have
been approached about investing in Mission Mining Company to contact
the BCSC inquiries line at 604-899-6854 or 1-800-373-6393 (toll free).
Information on National Instrument 43-101
NI 43-101 is a key component in the disclosure requirements of mining
companies that distribute securities in Canada. It establishes
standards for disclosure of scientific and technical information
regarding mineral projects, and requires that the disclosure is based
on a technical report or other information prepared by or under the
supervision of a qualified person.
The BCSC recommends that investors in B.C. exercise extreme caution when
dealing with any company that purports to release a NI 43-101 technical
report, but does not file the report with a securities regulator in
Canada. Any technical report that a publicly traded company files with
a securities regulator in Canada under NI 43-101 is available to the
public on SEDAR.
The BCSC is the independent government agency responsible for regulating
trading in securities within the province. Learn how to avoid
investment fraud at the BCSC's investor education website: www.investright.org.
SOURCE: British Columbia Securities Commission
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