VANCOUVER, June 12, 2012 /CNW/ - Next Gen Metals Inc. ("the Company" or "Next Gen") TSX.V: N OTCQX:
NXTTF As a result of a review by the British Columbia Securities Commission
("BCSC"), the Company issues this news release to clarify certain
disclosures made pertaining to the Company's website and in some
investor materials that do not comply with National Instrument 43-101 -
Standards of Disclosure for Mineral Projects ("NI 43-101").
On the Company's website, corporate fact sheet and news releases the
Company had shown a map of the Destiny Gold Project that showed
inferred mineral resources added to other categories contrary to
section 2.2 (c) of NI 43-101. This has since been removed from the
materials with future indicated and inferred categories to be shown
The Company's latest corporate presentation disclosed estimates of
exploration potential that are restricted by section 2.3 (1) of NI
43-101 because they were not expressed in ranges and did not contain
the cautionary language required by section 2.3 (2). This has since
been removed and future estimates will be expressed in compliance of
section 2.3 (2).
In addition, the Company's website, corporate fact sheet, corporate
presentation, and the MD&A did not identify and disclose the
relationship to the Company of the qualified person who prepared the
technical information. The technical information contained in these
disclosures had been reviewed and approved by Ali Hassanalizadeh, M.Sc.
P. Geo. who is a Qualified Person as defined by NI 43-101. This
information has been added to the Company's website, corporate fact
sheet and corporate presentation. Going forward, this will be included
on the Company's MD&A.
Ali Hassanalizadeh, M.Sc. P. Geo., a Qualified Person as defined under
NI 43-101 has reviewed and approved the technical information provided
in this news release.
About Next Gen Metals Inc.
Next Gen is a mineral exploration company whose current focus is on gold
and base metals projects in North America. The Company has acquired a
60% option interest (TSX.V: N) on the Destiny Gold Project (Indicated
Resource of 364,000 ounces plus an Inferred Resource of 247,000 ounces
of gold). In addition, Next Gen is presently advancing the Fate Gold
Project adjacent to the Destiny Gold Project; Next Gen continues to
evaluate additional advanced-stage silver, gold and base metal
On behalf of the Board of Directors
President and CEO
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.
Note: this release contains forward-looking statements that involve
risks and uncertainties. These statements may differ materially from
actual future events or results and are based on current expectations
or beliefs. For this purpose, statements of historical fact may be
deemed to be forward-looking statements. In addition, forward-looking
statements include statements in which the Company uses words such as
"continue", "efforts", "expect", "believe", "anticipate", "confident",
"intend", "strategy", "plan", "will", "estimate", "project", "goal",
"target", "prospects", "optimistic" or similar expressions. These
statements by their nature involve risks and uncertainties, and actual
results may differ materially depending on a variety of important
factors, including, among others, the Company's ability and
continuation of efforts to timely and completely make available
adequate current public information, additional or different regulatory
and legal requirements and restrictions that may be imposed, and other
factors as may be discussed in the documents filed by the Company on
SEDAR (www.sedar.com), including the most recent reports that identify important risk
factors that could cause actual results to differ from those contained
in the forward-looking statements. The Company does not undertake any
obligation to review or confirm analysts' expectations or estimates or
to release publicly any revisions to any forward-looking statements to
reflect events or circumstances after the date hereof or to reflect the
occurrence of unanticipated events. Investors should not place undue
reliance on forward-looking statements.
SOURCE Next Gen Metals Inc.
For further information:
Next Gen Metals Inc.