Tintina Resources Joins the OTCQX Marketplace
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/21/11 -- Tintina Resources Inc. (TSX VENTURE: TAU)(OTCQX: TINTF) ('Tintina' or the 'Company') is pleased to announce Company's common shares have been called to trade on OTC Markets Group's prestigious tier, OTCQX International, in the United States under the ticker symbol 'TINTF'. As part of the OTCQX listing process, Tintina Resources is included in Standard & Poor's Corporation Records Listing Program, a recognized securities manual in the U.S.
Rick Van Nieuwenhuyse, Chairman of Tintina Resources Inc., stated today that: 'The OTCQX listing is a major step in our quest to improve international recognition of the company with an aim to improve the trading liquidity of our common shares. We feel that the OTCXQ listing will greatly help Tintina communicate our story of developing a high quality copper asset, located in the United States, to a broader market.'
The OTCXQ listing will give US investors a chance to invest in one of the highest grade copper (Cu)-cobalt (Co)-silver (Ag) projects in North America, the Sheep Creek Copper Project located in central Montana, USA. The Company has been able to quickly establish two National Instrument 43-101 Inferred Resources: the UCZ at Strawberry Butte which currently has an Inferred Resource containing 366 million pounds of copper in 7 MMT grading 2.4% Cu, 0.12% Co, and 12.3 g/t Ag using a 1.5% Cu cut-off grade - see News Release dated January 6, 2011; and the recently completed Inferred Resource estimate for the Lower Copper Zone massive sulfide at Strawberry Butte containing 256 million pounds of copper in 2.5 MMT grading 4.71% Cu, 0.06% Co, and 5.1 g/t Ag, and 0.35 g/t Gold using a 1.5% Cu cut-off grade - see news release dated August 17, 2011, bringing the total copper pounds to 622 million pounds at an average grade of 2.97% Cu. The Company is well on its way of reaching its objective of a billion pounds of Measured Indicated Inferred resources by the end of the year.
The Company has initiated a Preliminary Economic Assessment on the UCZ to determine project economics and continues collecting environmental baseline information in preparation for an environmental assessment report and submitting a permit application for an exploration decline.
About Sheep Creek
The Sheep Creek deposit is located approximately 17 miles north of White Sulphur Springs within two miles of U.S. Highway 89 along a well-maintained gravel road. The Sheep Creek property consists of approximately 12,225 acres of fee simple lands and mining claims in central Montana. The property contains sediment-hosted zones of massive sulfide mineralization originally explored by Cominco American Inc. and BHP during the 1980's and early 1990's. Historical drilling encountered significant zones of strata-bound copper sulfide with associated cobalt and silver mineralization in multiple, bedded massive pyrite horizons in the lower part of the Precambrian Belt Supergroup. This same stratigraphic unit hosts the famous Sullivan zinc-lead-silver deposit in southeastern B.C. In a short period of time the Company has been able to establish Inferred Resources on the Upper & Lower Copper Zones at Strawberry Butte (please see Company News Releases dated January 6, 2011 & August 17, 2011). The Company continues to evaluate several tabular mineralized zones along a four kilometer strike length. The Company has three drill rigs on site and will continue drilling over the course of 2011.
Tintina is preparing an advanced underground exploration proposal which includes an evaluation decline and ancillary facilities, all located on private land in Meagher County, for presentation to the State's appropriate authorities.
About Mining in Montana
Montana has been known as a mining state for a well over 100 years. Today, more than two dozen mining operations are active making mining a cornerstone contributor to the State's GDP. Tintina has met with State regulators and looks forward to presenting the Sheep Creek project as an underground mine with a small footprint located on private land. The project continues to benefit from broad local community support.
About Tintina
Tintina Resources Inc. is a growth company focused on the exploration and development of base and precious metal properties around the world. The Company's experienced Board of Directors and Management Team are focused on advancing the Sheep Creek Cu-Co-Ag property in Montana towards a production decision. The Company is also exploring an impressive portfolio of gold and base metal projects in Alaska, including the Colorado Creek gold project located in southwest Alaska in the same region as the 40 million ounce Donlin Creek project. Tintina Resources currently has 142 million shares outstanding and 30 CAD million in cash on hand.
Website: www.tintinaresources.com
ON BEHALF OF THE BOARD OF DIRECTORS
Louis A. Lepry, Jr., President & CEO
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release, including statements regarding the Company's plans for and intentions with respect to exploration of the Company's Sheep Creek property, constitutes '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 Company is able to obtain any government or other regulatory approvals and any financing required to complete the Company's planned exploration activities, that the Company is able to procure equipment and supplies in sufficient quantities and on a timely basis, that the Company's exploration activities on the Sheep Creek property will not be affected by actions of environmental activists or other special interest groups, and that actual results of exploration activities are consistent with management's expectations. However, the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors relating to Tintina Resource's operation as a mineral exploration company and the Sheep Creek property 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, actual results of the Company's exploration activities being different than those expected by management, uncertainties involved in the interpretation of drilling results and geological tests, delays in obtaining or inability to obtain required government or other regulatory approvals or financing, interference with Tintina Resource's exploration activities by environmental activists or other special interest groups, inability to procure equipment and supplies in sufficient quantities and on a timely basis, equipment breakdowns and bad weather. 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 Resources 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.
Philippe Van Nieuwenhuyse
Investor Relations
604-628-1162 ext. 236
604-628-1163 (FAX)
philvann@tintinaresources.com
www.tintinaresources.com