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 during operations.
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.
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