Crowflight Acquires Additional Ground Near Historical Producer in Thompson Nickel Belt, Manitobaadmin
July 19, 2007 Filed Under: Mining Services, Nickel Mining
CROWFLIGHT MINERALS INC. is pleased to announce that it has acquired additional property adjacent to the former producing Manibridge Nickel Mine in the central portion of the Thompson Nickel Belt, approximately 15 kilometres south of its Bucko Lake Nickel project, currently under development.
Crowflight has added approximately 83 square kilometres (32 square miles) to its 100% owned property position near Clarke Lake through the staking of 38 claims peripheral to its existing claim blocks and through the acquisition of a property adjacent to the Manibridge Deposit referred to as the Owl Claim.
The Owl claim will be purchased from W.S. Ferriera Ltd. in exchange for $10,000 in cash, 25,000 Crowflight common shares and the grant of a 2% NSR on the claim. The issue of the shares to W.S. Ferreira Ltd. is subject to approval from the TSX Venture Exchange.
Greg Collins, Crowflight’s Vice President of Exploration commented on the acquisition of additional ground, stating: “This acquisition further secures our strategic position in the central portion of the Thompson Nickel Belt. The property hosts several known occurrences of nickel in close proximity to past production as well as exploration targets exhibiting similar geophysical characteristics to those associated with recent discoveries near Wabowden. The property will enable Crowflight to continue to develop and pursue high caliber exploration opportunities in close proximity to mining/milling infrastructure at Bucko Lake.”
Crowflight is the second largest landholder in the prolific Thompson Nickel Belt with an interest in approximately 700 square kilometres (270 square miles). With production from the Bucko Lake Deposit expected to commence during the second quarter of 2008, Crowflight is well positioned to further develop additional nickel exploration opportunities going forward. The Company’s exploration team intends to further enhance targeting in recently acquired areas by covering portions of the property with a high resolution airborne geophysical survey (VTEM), planned for completion later this summer.
Qualified Person/Quality Control Procedures
This press release has been prepared and revised by Mr. Greg Collins, P.Geo (APGO/APEGM) a Qualified Person under the NI 43-101 guidelines.
Crowflight Minerals – Canada’s Next Nickel Producer
Crowflight Minerals Inc. is a Canadian junior mining exploration and development company listed on the TSX Venture Exchange. The company is focused on nickel, copper and Platinum Group Mineral (“PGM”) projects in the Thompson Nickel Belt (“TNB”) and Sudbury Basin. The company currently owns and/or has under option approximately 800 square kilometres of exploration and development properties in Manitoba and Ontario.
In Manitoba, these properties include: (1) the Bucko Nickel Deposit; (2) an option to earn a 100% interest from Xstrata Nickel on its 500 square kilometre properties near Wabowden and Thompson Manitoba (formerly part of the TNB North and TNB South Project option agreement areas); and (3) a 100% interest in 200 square kilometres near Clarke Lake.
In the Sudbury Basin, these properties include: (1) the 100% owned AER Kidd Project adjacent to Inco’s Totten Deposit (10.1 million tonnes grading 1.5% nickel, 2.0% copper and 4.8 g/t PGM’s); (2) the 100% owned Peter’s Roost Property, the subject of a recent joint venture agreement with Wallbridge Mining Co. Ltd.; and (3) the Airport Property (a 50/50 joint venture with Millstream Mines Ltd.) located 4 kilometres south, and on-strike, with Falconbridge’s Nickel Rim South Deposit (13.2 million tonnes grading 1.7% nickel, 3.5% copper and 4.1 g/t PGM’s).
Further information is available on the Company’s web site at www.crowflight.com.
Statements in this release that are not historical facts are “forward-looking statements” within the meaning of applicable securities laws. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these “forward-looking statements. The Company cautions investors that the projections for increases to the Indicated Resources are based on Inferred Resources. There is no certainty that these projections will be added to the Indicated Resources or that they will be economically viable.
Total Shares Outstanding: 245.2MM
Fully Diluted: 277.7MM
52-Week Trading Range: C$0.25-$1.35
Click on the following link to view the CROWFLIGHT MINERALS INC. Thompson Nickel Belt – New Staking – Summer, 2007 Map:
Contacts: Crowflight Minerals Thomas Atkins President and CEO
Crowflight Minerals Heather Colpitts Manager Investor and Public Relations (416) 861-5803
Ascenta Capital Rory Quinn Investor Relations
(604) 684-4743 Ext. 226
Source: Crowflight Minerals Inc.