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Enter Symbol
or Name
USA
CA



Canadian International Minerals Inc (2)
Symbol CIN
Shares Issued 51,042,401
Close 2016-08-26 C$ 0.04
Market Cap C$ 2,041,696
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ORIGINAL: Canadian International Minerals Inc. – Clarifies Technical Disclosure and Retracts Mineral Resource Estimate for Leduc Project

2016-08-26 19:07 ET - News Release

(via Thenewswire.ca)

August 26, 2016 / TheNewswire / Vancouver British Columbia . - Canadian International Minerals Inc. (the "Company") (TSX.V:CIN) announces that as a result of a review by the British Columbia Securities Commission ("BCSC"), the Company 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 January, 22, 2016 (the "Report"), as filed on SEDAR January 25, 2016, does not comply with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").

The Company has sold its Leduc project to Zimtu Capital Corp. as disclosed in the Company's August 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 Li, K, B, Br, Ca, Mg, and Na 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 oilfield brine is required. The Company anticipates an amended 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, P.Eng.

ON BEHALF OF THE BOARD
Michael Schuss, President and CEO

For further information, please contact:

Canadian International Minerals Inc.

Michael E. Schuss

President and CEO

Phone: 604-241-2254

Website: www.cin-v.com

Forward-looking Information

This news release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. 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; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.

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.

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