China Minerals Reports Court Decision
Vancouver, British Columbia--(Newsfile Corp. - January 18, 2017) - China Minerals Mining Corp. (TSXV: CMV) (OTC Pink: HWTHF) ("China Minerals" or the "Company") reports that the BC Supreme Court has declined to hear its judicial review on the basis that, upon the recent return of the lands at issue to Crown ownership, the legal dispute regarding third party rights and incremental treaty agreement negotiations has become moot.
Ling Zhu, Executive Chairman stated: "We are disappointed the Court declined to hear the case, as we believe this was an excellent opportunity for the Court to provide meaningful guidance to government and others on protection of third party rights, when government enters into treaties or other agreements in furtherance of reconciliation with Aboriginal peoples. China Minerals supports reconciliation between the province of BC and Aboriginal groups - provided existing third party rights are protected or properly compensated."
Mr. Zhu further stated: "The government transferred the lands to the Kaska Dena without any consultation with the Company and in our view with complete disregard to shareholders' interests and prior investments in the Company. While the Company is pleased that the lands related to our mineral claims have been returned to Crown ownership, the government returned these lands on January 10, 2017, being just five days before the start of our hearing on January 16, 2017, and after we defended our rights for approximately three years. Unfortunately, during this approximate three-year process the Company was at a standstill due to the uncertainty of the project. This uncertainty prevented the Company from moving the Cassiar Gold Project forward - a project which the Company has spent over $36 million advancing. We are hopeful that government will learn from our case and rectify its policies and procedures when dealing with mineral claim holders. We intend to continue to work diligently to protect the Company's and the shareholders' interests."
Further Information on the Company's Legal Action
For further information on the legal action, see the Company's news releases dated: January 25, 2016, March 9, 2016, May 25, 2016, August 29, 2016, October 18, 2016, January 3, 2017 and January 5, 2017, copies of which are available under the Company's SEDAR profile at www.sedar.com.
About China Minerals Mining Corporation
China Minerals Mining Corp. is a Canadian based exploration and development company with offices located in Vancouver, B.C. and Beijing, China. China Minerals' goal is to build an international mining company.
For more information on China Minerals, please contact the Company at 1-888-629-1505 or (604) 629-1505, or visit the Company's website at www.chinamineralsmining.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"signed by Ling Zhu"
Ling Zhu
Executive Chairman
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 of accuracy of this release.
Cautionary Statement Regarding "Forward-Looking" Information
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in China Minerals' periodic filings with Canadian securities regulators. When used in this news release, words such as "will", "could", "plan", "estimate", "expect", "intend", "may", "potential", "appear", "should," and similar expressions, are forward-looking statements.
Although China Minerals has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and China Minerals disclaims any intention or obligation to update or revise such information, except as required by applicable law.