Tintina Resources Inc.: Updated PEA for the Black Butte Copper Project Nearing Completion
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/31/13 -- Tintina Resources Inc. ("Tintina" or the "Company") (TSX VENTURE: TAU)(OTCQX: TINTF) is pleased to report that it expects to announce the results of an updated Preliminary Economic Assessment (the "Updated PEA") for the Johnny Lee deposit on its 100% owned Black Butte Copper project located in central Montana, USA during the week of June 17, 2013.
The Updated PEA will update and replace the Company's previously filed preliminary economic assessment for the Johnny Lee deposit dated August 30, 2012 (the "Previous PEA") to incorporate the results of recent diamond drilling on the Johnny Lee Deposit and a revised sequence of mining based on the updated resource estimate disclosed in the Company's press release dated November 13, 2012. The Updated PEA will also include comparative post-tax preliminary economic values for the project. The Previous PEA did not contain information regarding applicable taxes and therefore the PEA and all related disclosure should not be relied upon.
Readers are reminded that preliminary economic assessments, including the Updated PEA when completed, are preliminary in nature and, as will be the case in the Updated PEA, may include 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. Furthermore, there is no certainty that any preliminary economic assessment will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
About Tintina Resources Inc.
Tintina Resources Inc. is a growth company focused on the exploration and development of base metal properties in North America. The Company's experienced Board of Directors and Management Team is currently focused on advancing the Black Butte Copper Project located in central Montana towards a production decision.
ON BEHALF OF THE BOARD OF DIRECTORS
GERALD BOOTH, Interim CEO
Cautionary Note Regarding Forward-Looking Statements: Certain disclosures in this release, including statements regarding the completion of the Updated PEA constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable, including that the Updated PEA will be completed in accordance with management's expectations. However, the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors relating that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such uncertainties and risks include, among others, the timing of completion of the Updated PEA being different than that expected by management. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. Tintina does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
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.
Contacts:
Tintina Resources Inc.
Gerald Booth
Interim CEO
(604) 628-1162
(604) 628-1163 (FAX)
info@tintinaresources.com
www.tintinaresources.com