Northern Vertex to Amend Technical Disclosure
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/19/13 -- Northern Vertex Mining Corp. (the "Company") (TSX VENTURE: NEE) announces that as a result of a review by the British Columbia Securities Commission (the "BCSC"), the Company is issuing the following news release in respect of the Technical Report and Preliminary Economic Assessment for the Moss Mine Gold-Silver Project dated March 12, 2013 (the "PEA") as announced by the Company on March 28, 2013 in respect of its Moss Mine Gold-Silver Project, Mohave County Arizona, USA. As a result of the BCSC review, the Company is in the process of preparing an amended technical report that provides additional or amended disclosure in respect of certain PEA items including, taxes, royalties, the experience of the Qualified Persons who authored the report, metal price assumptions, along with an expanded narrative regarding the metallurgy and the relationship of the pilot plant phase to any final production decision.
The March 28, 2013 news release should have, in addition to the other qualifications stated therein, noted that the PEA is preliminary in nature, and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and that there is no certainty that the preliminary economic assessment will be realized. Accordingly the PEA, which includes our mineral resource estimate, is currently unsupported by a NI 43-101 compliant technical report, and should not be relied on until the regulatory review process has been completed and the PEA is supported by an NI 43-101 compliant technical report.
ON BEHALF OF THE BOARD OF DIRECTORS
J.R.H. (Dick) Whittington, President & CEO
Cautionary Note About Forward-Looking Information
This news release contains statements about our future business and planned activities. These are "forward-looking" because we have used what we know and expect today to make a statement about the future. Forward-looking statements including but are not limited to comments regarding the timing and content of upcoming work and analyses. Forward-looking statements usually include words such as may, intend, plan, expect, anticipate, believe or other similar words. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this news release. You should not place undue reliance on forward-looking statements. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations.
Cautionary Note to U.S. Investors:
This news release uses the terms "Measured", "Indicated", and "Inferred" resources. U.S. investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or other economic studies. U.S. investors are cautioned not to assume that all or any part of Measured or Indicated Mineral Resources will ever be converted into Mineral Reserves. U.S. Investors are also cautioned not to assume that all or any part of a Mineral Resource is economically or legally mineable.
2013 number 09
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.
Contacts:
Northern Vertex Mining Corp.
Investor Relations
604-601-3656 or 1-855-633-8798
www.northernvertex.com