Huldra Silver Announces Filing of Updated Technical Report
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/12/12 -- Huldra Silver Inc. (TSX VENTURE: HDA) (the "Company" or "Huldra") today announces that, as a result of a review by the British Columbia Securities Commission, it has filed an updated National Instrument 43-101 ("NI 43-101") compliant technical report with respect to its Treasure Mountain Property (the "Property"), entitled "Technical Report, Project Update, Treasure Mountain Property, Tulameen River Area, B.C., Canada", having an effective date of June 7, 2012 (the "Report"). The Report was authored by Erik A. Ostensoe, P.Geo., Gary H. Giroux, MASc., P.Eng., Jim Cuttle, P.Geo., and Jasman Yee, P.Eng., all of whom are "Qualified Persons" as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). The Report will be available on SEDAR under the Company's profile at www.sedar.com.
The Report presents current information about the Property in compliance with NI 43-101 and more fully describes drilling programs and exploration work, including permitting, that the Company has undertaken on the Property since 2011, as have been previously disclosed by the Company in prior press releases. There have been no material changes with respect to the Property or its resource estimates that have not been previously disclosed. In connection with the filing of the Report, the Company has also filed an amended Annual Information Form ("AIF") for the year ended December 31, 2011, which incorporates the Report by reference.
The Company also wishes to clarify certain other technical disclosure with respect to the Property. With respect to references to "ore" in certain public disclosure of the Company, including in the Company's MD&A for the year ended December 31, 2011, the Company advises that the term "ore" was incorrectly used, given that the Company does not have any mineral reserves, and that the term "mill feed" should have been used in its place. Further, the Company wishes to retract the disclosure contained in the report by Pope & Company that was previously located on the Company's website, and specifically retracts any prior inferences regarding economic viability of the Property. The Company specifically retracts non-compliant resource estimates, estimates of additional non-compliant exploration targets and inferences regarding economic viability of the Property contained in such report. The Company also wishes to confirm that it has not undertaken any preliminary feasibility study or preliminary economic assessment with respect to the Property and does not intend to undertake such a study or assessment prior to making a production decision. The Company cautions readers that such production may not be economically feasible and that there are significant risks associated with making a production decision without a valid, current, economic analysis.
Technical information in this news release has been reviewed and approved by Jim Cuttle, a Qualified Person as defined in NI 43-101.
On behalf of the Board of Directors
Ryan Sharp, MBA, President, CEO & Director
Disclaimer for Forward-Looking Information
This press release contains projections and forward-looking information that involves various risks and uncertainties regarding future events related to the Company's proposed exploration plans and its plans to put the Treasure Mountain Property into production. Such forward-looking information can include statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company, such as the Company's ability to finance its planned exploration; the Company's ability to source the necessary infrastructure to effect its exploration plans; current economic conditions, the Company's ability to extract minerals from the Property economically and the state of mineral exploration and mineral prices in general. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. The Company can offer no assurance that its exploration and development plans will be completed in the time expected or at all. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
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Contacts:
Huldra Silver Inc.
Ryan Sharp
604-647-0142
604-647-0143
ryan@huldrasilver.com or IR@huldrasilver.com
www.huldrasilver.com