Vancouver, British Columbia / TheNewswire / January 22, 2016 - Canadian International Minerals Inc. (the "Company") (TSX-V: CIN) is pleased to announce it has entered into an agreement to acquire an extensive proprietary database from Kaminak Gold Corp. ("Kaminak") (TSX-V: KAM), pertaining to the Company's recently acquired Lac Manitou Ni-Cu-PGM property in Quebec, for which Kaminak is the previous operator.
The database includes raw airborne magnetic and EM data, as well as an interpretive report by Grant Lockhart of Petra Geophysical Consulting Inc. The Company believes the targets detailed in this report, which have never been drilled, represent excellent quality targets for Ni-Cu-PGM mineralization.
Transaction Terms
Under the terms of the agreement, the Company will issue 3,500,000 units to Kaminak, each unit consisting of one common share and one share purchase warrant, each warrant exercisable into one additional common share at a price of $0.10 per share for a period of 3 years.
In addition, the Company has granted Kaminak a 1% NSR on the Lac Manitou property, which includes an area of interest corresponding to the spatial extents of the database.
The transaction is subject to approval of the TSX Venture Exchange.
Qualified Person
The technical data in this news release has been reviewed by Thomas Hasek, P. Eng., a Qualified Person under the terms of N.I. 43-101.
For further information, please contact:
Canadian International Minerals Inc.
Michael E. Schuss
President and CEO
Phone: 604-241-2254
Website: www.cin-v.com
Forward-looking Information
This news release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. 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. Actual results and future events could differ materially from anticipated in such information. 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 expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
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.
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