VANCOUVER, July 4, 2019 /CNW/ - KORE Mining Ltd. ("KORE" or the "Company") wishes to make the following clarifying statements.
The Company refers to a news release issued on February 27, 2018 by previous management announcing the reverse take over bid transaction between the Company (then named "Eureka Resources Inc.") and the private company formerly named KORE Mining Ltd. (the "RTO Transaction"), and the news release issued on November 2, 2018 announcing the completion of the RTO Transaction.
These news releases referred to economic analyses regarding the Imperial Project and the Long Valley Project derived from "historical estimates" of mineral resources, as such term is defined in National Instrument 43-101 of the Canadian Securities Administrators ("NI 43-101"). Such economic analyses are not supported by a current technical report, contrary to NI 43-101, and must not be relied upon until such time as they have been verified and supported by a current technical report.
In response to a technical disclosure review initiated and undertaken by the British Columbia Securities Commission, the Company has requested Mine Development Associates to make certain amendments and revisions to its previously published technical report entitled "Technical Report and Resource Estimate for the Long Valley Project, Mono County, California" dated April 25, 2018 along with certain ancillary consents.
KORE Mining is a development stage company that offers exposure to precious metals exploration and development in North America, with a corporate strategy focused on advancing its California development and British Columbia advanced exploration stage projects.
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.
Cautionary Statement Regarding Adjacent Properties and Forward-Looking Information
This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of the Company are forward-looking statements that involve risks and uncertainties. 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. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labor relations matters. This list is not exhaustive of the factors that may affect the Company's forward-looking information. Important factors that could cause actual results to differ materially from the Company's expectations also include risks detailed from time to time in the filings made by the Company with securities regulations.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.