Mr. Byron Coulthard reports
TRUECLAIM EXPLORATION ANNOUNCES MINING PERMIT
RECEIVED FOR SCADDING TAILINGS PROJECT
Trueclaim Exploration Inc.'s joint venture partner Shoreline Resource Management Inc. (SRMI) has filed its certified closure plan and received its mining permit for the Scadding tailings project.
The permit was issued under Section 141(4)(a) of the Mining Act, R.S.O. 1990. This will allow the joint venture to proceed immediately to production.
The joint venture between TRM and SRMI is 60 per cent -- SRMI/40 per cent -- TRM, and SRMI provides the necessary funds and provides operational capability/mining expertise to earn its interest.
Byron Coulthard, TRM's chief executive officer, commented, "This is a major step forward in the development plan for the Scadding property and has the potential to generate considerable revenue to TRM in the short term." SRMI is working diligently to bring the project into production as soon as possible.
TRM would like to thank all of those that participated in the permitting process, and particularly the management of Shoreline Resource Management, the Wahnapitae First Nation (Takgainini technical and environmental services group), the government ministries and the local community for their support in achieving this significant milestone.
This is an extremely important step forward as TRM continues to move ahead with its business plan to focus on near-term production and be a self-revenue generator, which will enable the company to keep a tight share structure and minimize dilution to the shareholders.
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