DNI Metals Inc. - IIROC has requested clarification
(DNI : TSX-V)(DG7N : Frankfurt)
TORONTO, Oct. 7, 2015 /CNW/ - Further to DNI's press release dated October 7, 2015, IIROC has requested clarification of some of the information.
DNI would like to retract the following:
1. DNI retracts the use of the terms "super Jumbo" and "world-class" in reference to the flake size of the graphite subject to testing on the Company's Madagascar Property.
2. DNI would like to retract the reference to the "development of an NI43-101 compliant resource."
3. DNI would like to retract the following statement due to it being potentially misleading. "What does 67.4% jumbo/large flake mean? There are only a few known deposits in the world that have flake distribution greater than 60%, one of them is 50kms south of our Madagascar property. Depending on the purity, the larger the flake size, the per tonne value increases."
4. The Company has a wholesale division it which it has bought 22 tonnes of Graphite in Brazil and sold it in North America. DNI plans to grow this business. The following phrase was reference to the wholesale business, and not its mining claims in Madagascar.
"DNI is providing its clients with a Secure, Reliable and Consistent source of Graphite. DNI is supplying a Chinese alternative."
5. DNI would like to retract the use of the term "ore" it is a restricted term only to be used when referencing mineral reserves.
Jumbo and Large Flake distribution of greater than 67.4%.
| Flake Size | Flake Distribution | Flake Description | |
| % | |||
| +30 Mesh / +595 Microns | 25.3% | Jumbo | |
| +50 Mesh / +297 Microns | 29.5% | Jumbo | |
| +70 Mesh / +210 Microns | 12.6% | Large | |
| +100 Mesh / +149 Microns | 9.9% | Medium | |
| +140 Mesh / +105 Microns | 5.8% | Small | |
| -140 Mesh / -105 Microns | 16.9% | Small | |
| Total | 100.0% |
Further information about DNI, can be found on its website. www.dnimetals.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSX.V) accepts responsibility for the adequacy or accuracy of this release.
DNI - TSX Venture
DG7N – Frankfurt
Issued: 29,586,204 common shares
We seek Safe Harbour. This announcement includes forward looking statements. While these statements represent DNI's best current judgment, they are subject to risks and uncertainties that could cause actual results to vary, including risk factors listed in DNI's Annual Information Form and its MD&As, all of which are available from SEDAR and on its website.
SOURCE DNI Metals Inc.
Contact
DNI Metals Inc. - Dan Weir, President & CEO, T: 416-595-1195, Email: danweir@dnimetals.com / ir@dnimetals.com.