Explorex Resources Inc. Clarifies Technical Disclosure
Vancouver, August 8, 2017 - Explorex Resources Inc. (CSE: EX) ("Explorex" or the "Company") announces that as a result of a review by the British Columbia Securities Commission ("BCSC"), the Company is issuing the following news release to clarify our disclosure. Certain information provided in the Company's news releases, corporate presentations, fact sheets and other material on the Company's website, as detailed further in this news release, is non-compliant with National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Corporate Presentation, Fact Sheet and Website
In its corporate presentation, (posted on July 27, 2017), fact sheet and project information on its website, non-compliant or incomplete statements were made in regards to technical data.
The Company advises that the material was not prepared, reviewed nor approved by a Qualified Person ("QP") and the technical information disclosed should not be relied upon until it has been reviewed and approved by a QP.
The Company has removed the presentation, fact sheet and project data from its website and will amend the technical disclosure to fully conform to the requirements of NI 43-101.
News Releases and MD&As
In its releases of May 12, 2016, June 14, July 6, and July 16, 2017, a QP neither supervised nor approved the technical disclosure; thus, the information contained therein should not be relied upon until it has been reviewed and approved by a QP.
In its releases dated Nov 23, 2016, April 21, Rick Kemp, QP did supervise the preparation and approval of the technical disclosure, but it was not stated that he is independent of Explorex. Rick Kemp is independent of Explorex.
The Company will ensure the complete QP review and approvals statement is included and conforms to Section 3.2 of NI 43-101 on all future written disclosure of technical information.
Other
On its website, fact sheet and presentation posted on the website, the Company stated that the disclosed information had not been verified by a QP, and contrary to 43-101, did not provide an explanation why that was the case. The Company advises that technical information on its website should not be relied upon until a QP has been able to review and approve any technical material, or provides an explanation as to why any information has not been verified.
The Company has reviewed the non-compliant technical disclosure issues and has removed the relevant investor material from its' website and any related material on its social media sites. It will amend the specific material prior to reposting and will ensure that all future disclosures of technical information will be fully compliant with NI 43-101 Standards of Disclosure for Mineral Projects.
Qualified Person
The scientific and technical disclosure in this news release has been supervised and approved by R. Kemp, P.Geo., a Qualified Person as that term is defined in NI 43-101. He is independent of the Company.
About Explorex Resources
Explorex is an exploration company with a recent focus on critical elements used in rechargeable battery technology, including cobalt, and is seeking to build a portfolio of exploration and development projects of merit in jurisdictions with favourable geologic settings and historic cobalt production within North America. The Company also has an option agreement to earn a 100% interest the Silver Dollar project, BC, subject to the favourable outcome of its ongoing due diligence period.
On behalf of the board,
Bill Wishart,
President, CEO
For further information, please contact Bill Wishart, President at bill@explorex.ca or phone 604.609.0555.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company. Readers are cautioned not to place undue reliance on forward looking statements.