CIN - TSX-V
VANCOUVER, May 1, 2012 /CNW/ - Canadian International Minerals Inc. (CIN-TSX.V) (the "Company") is pleased to announce that it has joined a prospecting syndicate (the syndicate) focused on graphite exploration in north western Ontario. The Company has funded the initial acquisition of the syndicate, and thereby has secured 50% interest in the Miller Graphite Project. The syndicate has staked 15 claims, comprising 240 hectares which include the Miller graphite occurrence in Foch Township. The Miller graphite occurrence is described in a report by Lorne Luhta titled 1989 Report of Timmins Resident Geologist, Ontario Geological Survey.
Samples of graphite collected by the Timmins Resident Geologist staff returned analysis of 30.4% and 30.3% carbon. Flake size averages 1 millimetre but some flakes up to 3 millimetre. The sample may have the potential of producing high grade flakes in the minus 300, plus 150 micron fraction.
The underlying geology consists of an east west striking sequence of quartzites and gneisses. Interbedded with the gneisses are graphite rich beds of medium-grained granular textured quartzites.
The historic showings and new graphite occurrences have been located by the syndicate which coincide with resistivity low airborne geophysical anomalies (OGS Map 60-028, 2001). The claims are accessible by forestry roads and further evaluation will be conducted after spring breakup. It is the intention of the syndicate to make the property available for option / joint venture to third parties.
The technical data in this news release has been reviewed by Thomas Hasek, P. Eng. a Qualified Person under the terms of N.I. 43-101. The transaction is subject to the acceptance of the TSX Venture Exchange.
On behalf of the Board of Directors,
"Michael E. Schuss"
Michael E. Schuss
President and Chief Executive Officer
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.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS: Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Canadian International Minerals undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements
For further information:
on Canadian International Minerals Inc. please visit the company website at http://www.cdnintlminerals.com or contact Michael E, Schuss at 604-241-2254.