Issued & outstanding
29,211,290 Common Shares
TORONTO, April 7 /CNW/ - Nearctic Nickel Mines Inc. (the "Company"), advises that in response to Canadian Royalties Inc.'s ("CRI") Statement of Claim in the Arbitration, attached to the Company's
Material Change Report filed on Sedar March 8, 2011, it has filed a
Contestation and Counterclaim.
In the Contestation the Company advances numerous reasons why CRI's
claims must fail. In the Counterclaim the Company seeks a remedy as
provided by Article 1604 of the Quebec Civil Code, being termination of
the Agreement with CRI dated January 12, 2001. The Contestation and
Counterclaim will be annexed to the Material Change Report filed in
connection with this Press Release.
Caution Concerning Forward-Looking Statements
The information in this news release includes certain information and
statements about management's view of future events, expectations,
plans and prospects that constitute forward looking statements. These
statements are based upon assumptions that are subject to significant
risks and uncertainties. Because of these risks and uncertainties and
as a result of a variety of factors, the actual results, expectations,
achievements or performance may differ materially from those
anticipated and indicated by these forward looking statements. Although
the Company believes that the expectations reflected in forward looking
statements are reasonable, it can give no assurances that the
expectations of any forward looking statements will prove to be
correct. Except as may be required by applicable securities laws, the
Company disclaims any intention and assumes no obligation to update or
revise any forward looking statements to reflect actual results,
whether as a result of new information, future events, changes in
assumptions, changes in factors affecting such forward looking
statements or otherwise.
SOURCE Nearctic Nickel Mines Inc.
For further information:
David Hynes - Director