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 separately.
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 projects.
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.
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Next Gen Metals Inc.