Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Sept. 28, 2012) – Crazy Horse Resources Inc. (TSX VENTURE:CZH) (the “Company”) announces it has received TSX Venture Exchange approval to the issuance of 250,000 bonus shares (the “Shares”), at a deemed price of $0.18 per Share, to Underhill Associates Ltd. (“Underhill”). The Shares are issued pursuant to a consulting agreement dated January 24, 2011 between the Company and Underhill (the “Consulting Agreement”). All terms and conditions of the Consulting Agreement have been successfully completed and a pre-feasibility study report with respect to the Company’s Taysan Copper-Gold Project (“Project”) located on Luzon Island, Philippines has been SEDAR filed. A summary of the pre-feasibility study report was also included in the Company’s news release dated April 30, 2012. The Company does not intend to proceed to full feasibility on the Project. The Shares are subject to a four month hold period expiring January 29, 2013.
ON BEHALF OF THE BOARD
MITCH ALLAND, President and C.E.O.
This press release includes “forward-looking statements” including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. There are risks and uncertainties regarding mining in general including global supply and demand for base and precious metals; political and economic risk in the Philippines, metallurgical uncertainties; environmental laws, regulations and permits relating to mine reclamation and restoration, climate change, emissions to the air and water and human exposure to hazardous substances used, released or disposed of by the Company; and uncertainties associated with unanticipated geological conditions related to mining. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. The Company does not assume the obligation to update any forward-looking statement, except as required by applicable law.
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.
