VANCOUVER, March 1, 2013 /CNW/ - Kivalliq Energy Corporation ("Kivalliq", "KIV: TSX-V") today announced the completion and filing of a revised National Instrument 43-101 independent technical report updating the Company's Lac 50 Trend Resource at the Angilak Property, Nunavut, Canada.
The independent Technical Report was prepared by Apex Geoscience Ltd. with the updated Mineral Resource estimate for the Lac 50 Trend Deposits contained therein, prepared under the direction of SIM Geological Inc., following the guidelines of the Canadian Securities Administrators National Instrument 43-101 and Form 43-101F1.
The report titled "Technical Report and Resource Update for the Angilak Property, Kivalliq Region, Nunavut, March 1, 2013" has been filed on SEDAR and can be viewed on the SEDAR website, www.sedar.com, and Kivalliq's website, http://kivalliqenergy.com/projects/angilak/.
The information in this release related to the independent Technical Report and the Mineral Resource estimate has been approved by Michael Dufresne, M.Sc. P.Geol, President of Apex Geoscience Ltd., Robert Sim, P.Geo. of SIM Geological Inc. and Bruce Davis, FAusIMM of BD Resources Consulting Inc., who are independent Qualified Persons as defined under National Instrument 43‐101. Jeff Ward, P.Geo, President of Kivalliq and a Qualified Person for the Company, has reviewed and approved the information contained in the Technical Report.
About Kivalliq Energy Corporation
Kivalliq Energy Corporation (TSX-V: KIV) is a Vancouver-based uranium exploration company holding Canada's highest grade uranium resource outside of Saskatchewan's Athabasca Basin. Its flagship project, the 340,268 acre Angilak Property in Nunavut Territory, hosts the Lac 50 Trend with a NI 43-101 Inferred Resource of 2,831,000 tonnes grading 0.69% U₃O₈, totaling 43.3 million pounds U₃O₈. Kivalliq's comprehensive exploration programs continue to advance the Lac 50 Trend and demonstrate the "District Scale" potential of the Angilak Property.
Kivalliq's team of northern exploration specialists have forged strong relationships with sophisticated resource sector investors and project partner Nunavut Tunngavik Inc. ("NTI") in order to advance the Angilak Property. Kivalliq was the first company to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory, Canada and is committed to building shareholder value while adhering to high levels of environmental and safety standards and proactive local community engagement.
On behalf of the Board of Directors
James R. Paterson, CEO
Kivalliq Energy Corporation
Kivalliq Energy Corporation is a member of the Aurora Mineral Resource Group of companies, for more information please visit www.auroraresource.com .
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.
Certain disclosures in this release, including management's conclusions regarding the Inferred Resource Estimate for the Lac 50 Trend Deposit and the district scale potential of the Angilak Property, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kivalliq's operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Other than as required by applicable securities legislation, Kivalliq expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.
Cautionary Note concerning estimates of Inferred Resources:
This news release uses the term "inferred resources". Inferred resources have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Kivalliq advises U.S. investors that while this term is recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize it. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.
SOURCE: Kivalliq Energy Corporation
For further information:
For further information about, Kivalliq Energy Corporation or this news release, please visit our website at www.kivalliqenergy.com (m.kivalliqenergy.com) or contact Investor Relations toll free at 1.888.331.2269, at 604.646.4527, or by email at [email protected] .