CaNickel announces current state of the business activity
09.07.2012/100/16 Vancouver, British Columbia - CaNickel Mining Ltd. ("CaNickel" or the "Company"), announces that the interruption of work at the Bucko Lake nickel mine, which is wholly owned by the Company (see our press release dated May 2012, 11) has been lifted. However, due to the unfavorable nickel price, the company has decided to temporarily shut down the Bucko Lake nickel mine and instead carry out maintenance work. During the maintenance work, the company will continue to optimize mining planning to ensure the sustainable and profitable operation of the Bucko Lake Mine. The Company will also work hard to advance the feasibility study for the MXNUMXA Project and other exploration programs on the Thompson Nickel Belt concessions.
The Company has also announced that Mr. Michael Hibbitts has resigned from the Board of Directors. The company wishes to thank Mr. Hibbitts for his dedication and service to CaNickel. Mr. Raymond Lai has been newly appointed to the Board of Directors.
Mr. Raymond Lai graduated from the University of Calgary with a Bachelor of Commerce degree from 1975 and is a member of the Certified Management Accountants of Alberta Professional Association. Mr. Lai has successfully served as a senior executive for listed companies in the mining, manufacturing and packaging industries for more than ten years and is currently Chairman, Chief Executive Officer and President of Maple Leaf Reforestation Inc., a company whose shares are held in the Toronto Stock Venture Exchange traded. Mr. Lai will be instrumental in helping CaNickel with more than 30's years of experience in corporate and financial management.
The company has announced that Dr. Dianmin Chen via 17. July 2012 will retire for personal reasons as Chief Executive Officer and Member of the Board of Directors. Mr. Wenfeng Liu, Chairman of the Board of Directors, will be appointed to Dr. Ing. Chen's resignation and take over the function as interim executive officer until the new Chief Executive Officer takes office. To strengthen operations, Mr. Brian Miller is appointed General Mine Manager of the Bucko Lake Mine. Brian will be responsible for carrying out the scheduled on-site maintenance.
Mr. Miller will assist CaNickel as a third-generation mining engineer and with more than forty years of mining experience in many areas. Mr. Miller's career spanned mine planning, project management, and Chief of Engineering Services, and was also promoted from Mine Superintendent to Mine Manager and finally General Mine Manager. Mr. Miller has worked with numerous companies including Kinross Gold, Westmin Resources, Noranda Inc., and recognized contractors in British Columbia, Quebec, and the United States. Prior to joining CaNickel, Mr. Miller was General Mine Manager at Roca Mines.
ABOUT CANICKEL
CaNickel Mining Limited is a junior Canadian mining company and owner / operator of the Bucko Lake nickel mine near Wabowden, Manitoba. The Company also owns nickel, copper and platinum group metal (PGM) projects in the Thompson nickel belt and the Sudbury Basin.
For more information, visit the company's website at www.canickel.com or:
Derek Liu
CFO and Corporate Secretary
E-mail: [email protected]
CaNickel Mining Limited
(formerly Crowflight Minerals Inc.)
Mailbox 35 1655-999 West Hastings Street
Vancouver, British Columbia Canada V6C 2W2
Tel: 778-372-1806 Fax: 604-254-8863
Precautionary Note Regarding Forward-Looking Information
This press release contains forward-looking statements under Canadian securities laws. Forward-looking statements also include, but are not limited to, statements regarding optimized mining planning to ensure the sustainable and profitable operation of the Bucko Lake Mine and statements regarding the intensive efforts to complete the feasibility study for the M11A Project and other exploration programs in the Develop properties in the Thompson Nickel Belt. In general, future-oriented statements can be recognized by the use of future-oriented terms, such as "plans", "expected", "does not expect", "is expected", "budgeted", "estimates", "forecast", " intends ”,“ does not intend ”,“ believes ”or variations of such terms and phrases or statements according to which certain actions, events or results“ may ”,“ could ”,“ would ”or“ will ”occur. Forward-looking statements are based on the opinions and estimates of management at the time these statements are made. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results, level of activity, performance, or achievements of the company to differ materially from those expressed or implied in the forward-looking statements. These include, but are not limited to, those risks described in the annual reports published in the company profile on SEDAR at www.sedar.com. The company's management has endeavored to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements. However, other factors could also mean that results will not be as expected, estimated or intended. However, it cannot be guaranteed that such statements will turn out to be truthful. Actual results and future events could differ materially from such statements. Readers are cautioned that forward-looking statements cannot be relied upon. The company does not intend to update any forward-looking statements unless required by applicable securities laws.
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