Mr. Michael Schuss reports
CANADIAN INTERNATIONAL MINERALS INC. CLARIFIES TECHNICAL DISCLOSURE AND RETRACTS MINERAL RESOURCE ESTIMATE FOR LEDUC PROJECT
As a result of a review by the B.C. Securities Commission, Canadian International Minerals Inc. is issuing this news release to clarify the company's previous disclosures regarding the Leduc project. The company is expanding on its news release of July 27, 2016, which announced that its report entitled "Technical report, Sturgeon Lake Li-K-B-Br-Ca-Mg-Na oil field brine inferred mineral resource, Leduc property, west-central Alberta," dated Jan. 22, 2016, as filed on SEDAR Jan. 25, 2016, does not comply with National Instrument 43-101
(standards of disclosure for mineral projects).
The company has sold its Leduc project to Zimtu Capital Corp. as disclosed in the company's Aug. 18, 2016, news release.
However, the company specifically retracts the mineral resource estimate for the Leduc project as disclosed under heading 14.0 mineral resource estimate in the report. There are no mineral resources of lithium, potassium, boron, bromine, calcium, magnesium and sodium on the Leduc project. The company had yet to conduct recoverability testing to extract lithium from the brine, and therefore, the company is unable to support the mineral resource with an NI 43-101-compliant technical report. Recoverability of lithium from the brine is a key component in establishment of mineral resources and reasonable prospects for eventual economic extraction. The technical report authors concur that further work to demonstrate the recoverability of Li from Alberta oil field brine is required. The company anticipates amending the report to indicate that there are no compliant mineral resources on the Leduc project.
The qualified person who has reviewed and approved the technical content of this news release is
Thomas Hasek, PEng.
We seek Safe Harbor.
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