CALGARY, Sept. 16, 2016 /CNW/ - Yellowhead Mining Inc. ("Yellowhead" or the "Company") (TSX: YMI) reports that it has been advised by the Toronto Stock Exchange ("TSX")
that it is reviewing the common shares of the Company with respect to
meeting the continued listing requirement of incurring a minimum of
$350,000 in expenditures on its mineral projects during the past year.
The Company has been granted 120 days in which to regain compliance
with these requirements, pursuant to the Remedial Review Process, or
its common shares will be delisted from the TSX.
At the present time, the Board of Directors of the Company intends to
keep Harper Creek on care and maintenance for the foreseeable future,
including through the balance of 2016, until such time as more
favorable commodity and capital markets exist that would permit the
development of Harper Creek to continue.
About the Harper Creek Project
Harper Creek is a proposed 70,000 tonnes-per-day open pit copper mine
with a 28 year mine life, located in the Thompson - Nicola region of
British Columbia near Vavenby. If developed, Harper Creek would
provide up to 600 jobs during construction and up to 450 permanent jobs
About Yellowhead Mining Inc.
Yellowhead Mining Inc. is a development stage company with a 100%
interest in Harper Creek, located in the North Thompson - Nicola region
of British Columbia, Canada.
Forward Looking Statements
Except for statements of historical fact, this news release contains
certain "forward-looking information" within the meaning of applicable
securities laws. Forward-looking information is frequently
characterized by words such as "plan", "expect", "project", "intend",
"believe", "anticipate", "estimate" and other similar words, or
statements that certain events or conditions "may" or "will" occur.
Forward-looking statements are based on the opinions and estimates of
management at the date the statements are made, and are subject to a
variety of risks and uncertainties and other factors that could cause
actual events or results to differ materially from those anticipated in
the forward-looking statements, including, among others, the accuracy
of mineral grades and related assumptions, inherent operating risks,
planned expenditures, proposed exploration and development at the
Harper Creek Project, operating and economic aspects of the Harper
Creek Project, as well as those risk factors identified in the
Company's Annual Information Form filed under the Company's SEDAR
profile. Yellowhead undertakes no obligation to update forward-looking
information if circumstances or management's estimates or opinions
should change except as required by law. The reader is cautioned not to
place undue reliance on forward-looking statements. More detailed
information about potential factors that could affect projected results
is included in the documents filed from time to time with the Canadian
securities regulatory authorities by Yellowhead.
SOURCE Yellowhead Mining Inc.
For further information:
David McGoey, Chief Financial Officer
403-294-6497 Email: DMcgoey@yellowheadmining.com