NEW WESTMINSTER, BC and New Delhi, Nov. 1, 2011 /CNW/ - Pebble Creek
Mining Ltd. ("Pebble Creek" or "the Company") is pleased to announce
that its President and CEO, Dr. Andrew Nevin, will deliver a
presentation on the Company's projects at Global Mining Finance's "New
Frontiers Conference" in London on November 2.
The Company's leading project is a VMS (volcanogenic massive sulphide)
deposit of copper, zinc and lead, with significant silver and gold,
located at Askot, Uttarakhand state, in northern India.
In view of the current financial markets, Pebble Creek is exploring
strategic alternatives for the Company and its Askot project. It is
engaged in discussions with various large mining companies, including
some well-established Indian companies, regarding alternatives
including joint venture and off-take agreements and other financing and
A 30-year Mining Lease has been pre-approved by the Indian Ministry of
Mines and conditionally by the Uttarakhand government. The last
remaining condition, acquiring surface rights on 29 hectares of
government land, is being addressed at present.
The mining plan, approved by the Indian Bureau of Mines, is for an
underground mine, with tailings backfilled underground, and no
discharges into the environment. The Company has obtained Environmental
Clearance. More than 30 local people are employed at the site and the
Company has the full support of the local community.
This news release contains forward-looking statements that address
future events and conditions and are subject to various risks and
uncertainties. The Company's actual results, programs and financial
position could differ materially from those anticipated in such
forward-looking statements as a result of numerous factors, some of
which may be beyond the Company's control. These factors include: the
application of laws and regulations where the Company's operations are
situated, the availability of funds; the timing and content of work
programs; results of exploration activities and development of mineral
properties, the interpretation of drilling results and other geological
data, the uncertainties of resource and reserve estimations, receipt
and security of mineral property titles; project cost overruns or
unanticipated costs and expenses, fluctuations in commodity prices;
currency fluctuations; and general market and industry conditions.
Forward-looking statements are based on the expectations and opinions of
the Company's management on the date the statements are made. The
assumptions used in the preparation of such statements, although
considered reasonable at the time of preparation, may prove to be
imprecise and, as such, undue reliance should not be placed on
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.
SOURCE Pebble Creek Mining Ltd.
For further information:
Gyan C. Singhai, PEng, Executive Chairman, Telephone: +1 604 529 9076
Mike Romanik, Vice President, Telephone: +1 204 724 0613