Donner and Xstrata Receive Development of the Year Award
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/29/10 -- Mr. Harvey Keats, Chief Executive Officer of Donner Metals Ltd. (TSX VENTURE: DON)(FRANKFURT: D4M), is pleased to announce that the Company and its joint venture partner Xstrata Canada Corporation - Xstrata Zinc Canada Division (Xstrata Zinc) have received the 'Development of the Year' award by the AEMQ (L'Association de l'exploration miniere du Quebec). This award was presented at the Quebec Exploration 2010 conference in recognition of the commencement of development of the Bracemac-McLeod Mine in July of this year. Under the feasibility study completed by Genivar Limited Partnership and Xstrata Zinc, the mine is scheduled for production in January 2013 and will produce at a rate of 2500 tonnes per day over an expected mine life of four years on current mining reserves of 3.73 million tonnes grading 9.60% zinc, 1.26% copper, and 28.25g/t silver and 0.43g/t gold (see news release September 2, 2010). The mine is expected to produce 606 million pounds zinc, 83 million pounds copper, 1,497,000 ounces silver and 13,090 ounces gold. Potential to expand the mine exists on the basis of inferred resources of 2.63 million tonnes grading 8.78% zinc, 1.31% copper, 38.83g/t silver and 1.06g/t gold that will be assessed when underground development is established.
Donner's Chairman David Patterson comments on this award and the Matagami Project at http://www.smallcapepicenter.com/executive/DON25November2010/index.htm.
Additional geological information, including maps and sections, is available at www.donnermetals.com.
ON BEHALF OF THE BOARD OF
DONNER METALS LTD.
Harvey Keats, Chief Executive Officer
Cautionary Statement:
Certain phrases in this news release are 'forward-looking statements' Forward-looking statements are identified by wording such as 'will', and apply specifically to the possible future completion of the Matagami Option, or potential future projections related to the development of, and production from, Bracemac-McLeod Deposit. With respect to Donner earning an interest in the Matagami Project, Donner's ability to meet the requirements of the Option and Joint Venture Agreement can be negatively affected by financial markets and Donner's ability to raise financing, among others. 'Forward-looking statements' involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. This press release refers to information about Xstrata's Perseverance mine and mine property on which the Company has no right to explore or mine. This press release also refers to information about historical production from land covered by the Matagami Project. Investors are cautioned that mineral deposits on other properties and/or historical production on lands under option are not necessarily indicative of characteristics of new mineral deposits discovered on the Matagami Project. Further discussion of 'forward looking statements' and 'future oriented financial information' and the risks inherent to mineral exploration and development, in relation to Donner's activities, can be found on the Company's website at www.donnermetals.com. The reader is cautioned not to place any undue reliance on any forward-looking statement, reference to other properties or historical production from the Matagami Project area.
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 NEWS RELEASE.
Contacts:
Donner Metals Ltd.
Harvey Keats
Chief Executive Officer
(604) 683-0564 or Toll Free: 1-800-909-8311
(604) 602-9311 (FAX)
donner@bed-rock.com
www.donnermetals.com