News ReleasesNorthcliff Announces Loan FinancingAugust 30, 2021 Vancouver, BC - Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF) announces that it has entered into an agreement with Todd Sisson (NZ) Limited ("Todd"), a subsidiary of the Todd Corporation, the Company's largest shareholder for a loan facility up to $1,000,000 that can be drawn down in two tranches of $500,000 ("Loan"). The Loan is secured, will bear interest at a rate of 10% per annum and has a term of 12 months with the interest payable at maturity. The loan and accrued interest is repayable at any time by the Company without penalty, or can be settled at maturity, either through issuances of shares in the Company ("Share Settlement") or transfer of part of the Company's interest in the Sisson Project Limited Partnership and its general partner, Sisson Mines Ltd. ("Partnership Settlement"), at the election of Todd. The conversion price ("Conversion Price") used for the Share Settlement or Partnership Settlement will be the higher of the 5-day or 30-day volume weighted average share price of the Company on the Toronto Stock Exchange ("TSX") at the maturity date. For the Share Settlement, the maximum discount (currently 25%) allowed under the TSX rules will be applied to the Conversion Price. Northcliff will be required to obtain disinterested shareholder approval to issue any shares in excess of 19,113,182 shares (10% of currently issued and outstanding common shares). Alternatively, the general and limited partnership interest to be transferred under the Partnership Settlement will be determined as the percentage that the Loan plus accrued interest represents of the implied value of the Sisson Partnership based on the Conversion Price. In the event the loan is settled through shares of the Company, any remaining balance after issuance of 19,113,182 shares may be settled through transfer of a general and limited partnership interest. The Loan terms and closing are subject to TSX acceptance, and the funds will be used for working capital purposes. About Northcliff Resources Ltd. Northcliff is a mineral resource company focused on advancing the Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. The results of the Feasibility Study completed in January 2013 confirm that the Sisson Project is technically and economically feasible and can move on to the next stage of development. Additional information on Northcliff is available on the website at www.northcliffresources.com. Investor services can be reached at (604) 684-6365 or within North America at 1-800-667-2114. On behalf of the Board of Directors Andrew Ing Interim CEO This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address the in-progress financing, or other events that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com. | ||||||
News ReleasesNorthcliff Announces Loan FinancingMarch 2, 2021 Vancouver, BC - Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF) announces that it has entered into an agreement with Todd Sisson (NZ) Limited ("Todd"), a subsidiary of the Todd Corporation, the Company's largest shareholder for a $400,000 loan ("Loan"). The Loan is secured, will bear interest at a rate of 10% per annum and has a term of 12 months with the interest payable at maturity. The loan and accrued interest is repayable at any time by the Company without penalty, or can be settled at maturity, either through issuances of shares in the Company ("Share Settlement") or transfer of part of the Company's interest in the Sisson Project Limited Partnership and its general partner, Sisson Mines Ltd. ("Partnership Settlement"), at the election of Todd. The conversion price ("Conversion Price") used for the Share Settlement or Partnership Settlement will be the higher of the 5-day or 30-day volume weighted average share price of the Company on the Toronto Stock Exchange ("TSX") at the maturity date.� For the Share Settlement, the maximum discount (currently 25%) allowed under the TSX rules will be applied to the Conversion Price. Northcliff will be required to obtain disinterested shareholder approval to issue any shares in excess of 19,113,182 shares (10% of currently issued and outstanding common shares).� Alternatively, the general and limited partnership interest to be transferred under the Partnership Settlement will be determined as the percentage that the Loan plus accrued interest represents of the implied value of the Sisson Partnership based on the Conversion Price.� In the event the loan is settled through shares of the Company, any remaining balance after issuance of 19,113,182 shares may be settled through transfer of a general and limited partnership interest.� The Loan terms and closing are subject to TSX acceptance, and the funds will be used for working capital purposes. About Northcliff Resources Ltd. Northcliff is a mineral resource company focused on advancing the Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. The results of the Feasibility Study completed in January 2013 confirm that the Sisson Project is technically and economically feasible and can move on to the next stage of development. Additional information on Northcliff is available on the website at www.northcliffresources.com. Investor services can be reached at (604) 684-6365 or within North America at 1-800-667-2114. On behalf of the Board of Directors This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address the in-progress financing, or other events that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com. | ||||||
News ReleasesNorthcliff Announces Two-year Extension Granted For New Brunswick Environmental Impact Assessment DeadlineDecember 3, 2020 Fredericton, New Brunswick - Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF), on behalf of Sisson Mines Ltd., is pleased to announce that the Minister of the Department of Environment and Climate Change ("DECC") has approved a two-year extension of the construction commencement timeline for the Sisson Mine Project to December 3, 2022. "On behalf of Northcliff, we wish to thank the DECC for their co-operative approach towards the development of the Sisson Tungsten-Molybdenum Mine Project ("Sisson Mine") during these unprecedented and challenging times due to the COVID-19 pandemic" said Andrew Ing, Northcliff Interim CEO. �"The proposed Sisson Mine is a significant asset for the critical mineral1 tungsten -- an essential ingredient to modern economies and emerging technologies that has few substitutes and could face high supply risks." Earlier this fall, the review of Sisson Fisheries Act Authorization application and Off-setting/Fish Habitat Compensation Plan was completed and approved. Pursuant to paragraph 35(2)(b) of the Fisheries Act the Minister of Fisheries and Oceans Canada has authorized the proposed work that will result in impacts to fish and fish habitat arising from the construction and operation of an open pit and tailing storage facility that will result in impacts to fish and fish habitat. The Sisson Mine Project received Environmental Impact Assessment ("EIA") approvals from the provincial and federal governments in 2015 and 2017, respectively, and successfully completed the Metal and Diamond Mining Effluent Regulation Schedule 2 amendment ("MDMER") authorization process in July 2019. A Cooperation Agreement between Woodstock First Nation and Sisson Partnership is in place and the Province of New Brunswick has signed an Accommodation Agreement with the six Maliseet First Nations of the province. About Northcliff Resources Ltd. Northcliff is a mineral resource company focused on advancing the Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. The results of the Feasibility Study completed in January 2013 confirm that the Sisson Project is technically and economically feasible and can move on to the next stage of development. Additional information on Northcliff is available on the website at www.northcliffresources.com. Investor services can be reached at (604) 684-6365 or within North America at 1-800-667-2114. On behalf of the Board of Directors New Brunswick Contact: This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address the in-progress financing, permitting, exploration drilling, exploitation activities and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Assumptions used by the Company to develop forward-looking statements include the following: the Sisson Project will obtain all required environmental and other permits for construction of the mine, the Sisson Project will achieve targeted production levels; the Company's study and development of the Sisson Project will continue to be positive; contracted parties provide goods and/or services on the agreed timeframes; equipment necessary for construction and development is available and does not incur unforeseen breakdowns; no material labour slowdowns or strikes are incurred; plant and equipment functions as specified; geological or financial parameters do not necessitate future mine plan changes; and no geological or technical problems occur. Factors that could cause actual results to differ materially from those in forward-looking statements include uncertainty of shareholder support, the need for judicial and regulatory approvals, fluctuations in market prices, exploitation and exploration successes, continuity of mineralization, potential environmental issues and liabilities associated with exploration, development and mining activities, uncertainties related to the ability to obtain necessary environmental, land use and other permits, approvals, licenses and title on a timely basis and delays due to third party opposition, and development of properties located within First Nations treaty and asserted territories may affect or be perceived to affect treaty and asserted aboriginal rights and title, which may cause permitting delays or opposition by First Nations communities, changes in government policies regarding mining and natural resource exploration and exploitation, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com. 1 Source: Critical Minerals in Canada https://www.nrcan.gc.ca/sites/www.nrcan.gc.ca/files/Critical%20Minerals_EN_2020_accessible.pdf | ||||||
News ReleasesNorthcliff Announces Loan FinancingOctober 14, 2020 Vancouver, BC - Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF) announces that it has entered into a $400,000 Loan Agreement (the "Loan") with Todd Sisson (NZ) Limited ("Todd"), a subsidiary of the Todd Corporation, the Company's largest shareholder. The Loan is secured, will bear interest at a rate of 10% per annum and has a term of 12 months. Interest will be payable at maturity. The loan and accrued interest is repayable at any time by the Company without penalty, or can be settled at maturity, either through issuances of shares in the Company ("Share Settlement") or transfer of part of the Company's interest in the Sisson Project Limited Partnership and its general partner, Sisson Mines Ltd. ("Partnership Settlement"), at the election of Todd. The conversion price ("Conversion Price") used for the Share Settlement or Partnership Settlement will be the higher of the 5-day or 30-day volume weighted average share price of the Company on the Toronto Stock Exchange ("TSX") at the maturity date. For the Share Settlement, the maximum discount (currently 25%) allowed under the TSX rules will be applied to the Conversion Price. Northcliff will be required to obtain disinterested shareholder approval to issue any shares in excess of 19,113,182 shares (10% of currently issued and outstanding common shares). Alternatively, the general and limited partnership interest to be transferred under the Partnership Settlement will be determined as the percentage that the Loan plus accrued interest represents of the implied value of the Sisson Partnership based on the Conversion Price. In the event the loan is settled through shares of the Company, any remaining balance after issuance of 19,113,182 shares may be settled through transfer of a general and limited partnership interest. The Loan terms have been conditionally accepted by TSX and the funds will be used for working capital purposes. About Northcliff Resources Ltd. Northcliff is a mineral resource company focused on advancing the Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. The results of the Feasibility Study completed in January 2013 confirm that the Sisson Project is technically and economically feasible and can move on to the next stage of development. Additional information on Northcliff is available on the website at www.northcliffresources.com. Investor services can be reached at (604) 684-6365 or within North America at 1-800-667-2114. On behalf of the Board of Directors This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address the in-progress financing, or other events that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com. | ||||||
News ReleasesNorthcliff Announces Management ChangeJune 19, 2020 Vancouver, BC - Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF) announces that Chris Zahovskis has tendered his resignation as President and CEO of the Company to be effective June 19, 2020. Northcliff plans to seek a new President and CEO, and pending this appointment, Andrew Ing, the current CFO of the Company, will act as Interim CEO and Mr. Luqman Khan will be appointed interim CFO.� Mr. Khan is a Chartered Professional Accountant (CPA CGA), with more than 25 years of professional experience in accountancy and business management and is currently the CFO of RE Royalties Ltd., listed on the TSXV.� For the past decade, he has served in various controllership and CFO positions with publicly traded companies. Northcliff Chairman Marchand Snyman said, "On behalf of the Board of Directors of Northcliff, I would like to thank Chris for his contributions to the Company over the past decade. A long-time professional in the mining industry, Chris led our team through the final stages of resource definition and preparation of a positive feasibility study for our Sisson Project in News Brunswick in 2013 as well as through to the successful conclusion of the environmental assessment process in 2017 and into the mine design and permitting phase.� We wish him well in all of his future endeavours." About Northcliff Resources Ltd. Northcliff is a mineral resource company focused on advancing the Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production.� The results of the Feasibility Study completed in January 2013 confirm that the Sisson Project is technically and economically feasible and can move on to the next stage of development. Additional information on Northcliff is available on the website at www.northcliffresources.com.� Investor services can be reached at (604) 684-6365 or within North America at 1-800-667-2114. Marchand Snyman This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address the in-progress Follow-on Financing, or other events that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com. | ||||||
News ReleasesNorthcliff Announces Completion Of $870,000 Private Placement FinancingJanuary 30, 2020 Vancouver, BC - Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF) is pleased to announce that it has completed a private placement of 17,375,600 Common Shares at a price of $0.05 per Common Share with the Todd Corporation ("Todd") for gross proceeds to the Company of $870,000. Todd currently owns a total of 61,828,998 Common Shares in the capital of Northcliff, and after its participation in the private placement financing will hold 79,204,598 Common Shares or a 41% interest in the Company. The Common Shares issued are subject to applicable resale restrictions, including a four month hold period under Canadian securities rules. The private placement is subject to execution of definitive agreements with investors and customary closing conditions including final Toronto Stock Exchange approval. Proceeds of the financing will be used to fund the Company's share of expenditures related to the Sisson Project and for working capital and general corporate purposes. About Northcliff Resources Ltd. Northcliff, associated with Hunter Dickinson Inc. (HDI), is a mineral resource company focused on advancing the Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. The results of the Feasibility Study completed in January 2013 confirm that the Sisson Project is technically and economically feasible and can move on to the next stage of development. Additional information on Northcliff is available on the website at www.northcliffresources.com. Investor services can be reached at (604) 684-6365 or within North America at 1-800-667-2114. Trevor Thomas Secretary This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address the in-progress Follow-on Financing, or other events that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com. | ||||||
News ReleasesNorthcliff Achieves Major Permitting Milestone for the Sisson ProjectJuly 10, 2019 Vancouver, BC - Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF), on behalf of Sisson Mines Ltd., the general partner of the Sisson Project Limited Partnership (the "Sisson Partnership") is pleased to announce that the Sisson Tungsten-Molybdenum Project (the "Sisson Project") has received a final key federal authorization for the project. Following extensive consultation with First Nations and the public, led by federal agencies Environment Canada and Climate Change and Department of Fisheries and Oceans, the Metal and Diamond Effluent Regulation Schedule 2 amendment ("MDMER") authorization process is now successfully completed. Through this process, project designs regarding the placement of the tailings facility, the tailings technology to be used and the fish habitat compensation plan for the Sisson Project were thoroughly reviewed and the result has been published in the Canada Gazette, Part II: Metal and Diamond Mining Effluent Regulations --- Regulations Amending Fisheries Act SOR/2019-245 25/06/19 "Completion of the MDMER amendment represents an important milestone toward project development," said Northcliff President & CEO Chris Zahovskis. Prior to the MDMER, the Sisson Project received Environmental Impact Assessment ("EIA") approvals from the provincial and federal governments in 2015 and 2017 respectively. A Cooperation Agreement between Woodstock First Nation and Sisson Partnership is in place and the Province of New Brunswick has signed an Accommodation Agreement with the six Maliseet First Nations of the province. The Company has also been engaged on optimizing engineering designs and soliciting offtake interest for the mine products as well as working through the provincial EIA conditions, some of which are required to be complied with prior to the start of construction and others in the operation phase. In addition, discussions to secure project financing are progressing. The outlook for tungsten remains robust for the mid to long term and new, western-based tungsten projects are needed to meet forecast demand growth. As a projected long-life, low cost producer in an excellent geographical location with ready access to markets in North America, Europe and Asia through existing infrastructure, the Sisson Project is a strategic asset for the region. About Northcliff Resources Ltd. Additional information on Northcliff is available on the website at www.northcliffresources.com.� Investor services can be reached at (604) 684-6365 or within North America at 1-800-667-2114. Christopher Zahovskis This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address the in-progress financing, permitting, exploration drilling, exploitation activities and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements.� Assumptions used by the Company to develop forward-looking statements include the following: the Sisson Project will obtain all required environmental and other permits for construction of the mine, the Sisson Project will achieve targeted production levels; the Company's study and development of the Sisson Project will continue to be positive; contracted parties provide goods and/or services on the agreed timeframes; equipment necessary for construction and development is available and does not incur unforeseen breakdowns; no material labour slowdowns or strikes are incurred; plant and equipment functions as specified; geological or financial parameters do not necessitate future mine plan changes; and no geological or technical problems occur.� Factors that could cause actual results to differ materially from those in forward-looking statements include uncertainty of shareholder support, the need for judicial and regulatory approvals, fluctuations in market prices, exploitation and exploration successes, continuity of mineralization, potential environmental issues and liabilities associated with exploration, development and mining activities, uncertainties related to the ability to obtain necessary environmental, land use and other permits, approvals, licenses and title on a timely basis and delays due to third party opposition, and development of properties located within First Nations treaty and asserted territories may affect or be perceived to affect treaty and asserted aboriginal rights and title, which may cause permitting delays or opposition by First Nations communities, changes in government policies regarding mining and natural resource exploration and exploitation, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com. | ||||||
News ReleasesNorthcliff Announces New CFOApril 5, 2019, Vancouver, BC - Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF) is pleased to announce that Andrew Ing has joined the Company as Chief Financial Officer ("CFO"), replacing Mark Peters who has resigned from his role with the Company to pursue other opportunities. Mr. Ing has more than 10 years of experience in the natural resources sector, focusing on corporate development activities with an emphasis on capital finance, business agreement negotiations and risk management. He previously held positions with professional services firms PricewaterhouseCoopers and Deloitte Touch� Tohmatsu, providing advisory services to mining companies in Asia, Europe and the Americas. Mr. Ing holds Chartered Professional Accountant and Corporate Finance designations, as well as specialized designations in corporate governance, internal audit and the strategic management of information technology. About Northcliff Chris Zahovskis This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address permitting, exploration drilling, exploitation activities and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Assumptions used by the Company to develop forward-looking statements include the following: the Sisson Project will obtain all required environmental and other permits for construction of the mine, the Sisson Project will achieve targeted production levels; the Company's study and development of the Sisson Project will continue to be positive; contracted parties provide goods and/or services on the agreed timeframes; equipment necessary for construction and development is available and does not incur unforeseen breakdowns; no material labour slowdowns or strikes are incurred; plant and equipment functions as specified; geological or financial parameters do not necessitate future mine plan changes; and no geological or technical problems occur. Factors that could cause actual results to differ materially from those in forward-looking statements include uncertainty of shareholder support, the need for judicial and regulatory approvals, fluctuations in market prices, exploitation and exploration successes, continuity of mineralization, potential environmental issues and liabilities associated with exploration, development and mining activities, uncertainties related to the ability to obtain necessary environmental, land use and other permits, approvals, licenses and title on a timely basis and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com. | ||||||
News ReleasesTodd Minerals Nominates New Director to Northcliff BoardFebruary 22, 2019 - Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF) is pleased to announce that Mr. Michael Wolley has been nominated by Todd Minerals Limited ("Todd") as its representative on Northcliff's board of directors, replacing Mr. Jacob Roorda, Todd's previous board representative. Mr. Michael Wolley will also continue to serve as Todd's board representative for Sisson Mines Ltd., the general partner of the Sisson Project Limited Partnership. Mr. Wolley is replacing Mr. Jacob Roorda who has served as the Todd nominee on the Board. "We thank Jake for his service and contribution to the Company and welcome Michael as a director," said Marchand Snyman, Chairman. Mr. Wolley holds a first class honours degree in Chemical and Materials Engineering from the University of Auckland and a Masters of Management from the Macquarie Graduate School of Management. He spent 15 years with Mobil Oil Australia in a range of roles including engineering, operations, strategic planning and business development in Australia and New Zealand. In 1995, he left Mobil to pursue opportunities in Asia Pacific and worked in a number of senior executive roles in the manufacturing and industrial sectors including a period as President of BlueScope Steel China. In 2007, Mr. Wolley returned to the resources sector as Chief Operating Officer of Lynas Corporation, an ASX 100 business, and subsequently into the gold sector where he is a Director of Red Mountain Mining, an ASX listed gold development business. Mr. Wolley was appointed Vice President Corporate Development of the Todd Corporation in 2011. In February 2013, he was appointed to the role of Vice President Minerals, based in Sydney. Mr. Wolley is a Director of ASX listed Flinders Mines. He is a member of the Australian Institute of Chartered Directors and the Institute of Directors in New Zealand. About Northcliff Northcliff is a mineral resource company focused on advancing the Sisson Tungsten-Molybdenum Project, located in New Brunswick, Canada, to production. The results of the Feasibility Study, completed in January 2013, confirm that the Sisson Project is technically and economically feasible and can move on to the next stage of development. For further details on Northcliff and the Sisson Tungsten-Molybdenum Project please contact visit Northcliff's website: www.northcliffresources.com. Investor services can be reached at (604) 684-6365 or within North America at 1-800-667-2114. Chris Zahovskis President & CEO This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address permitting, exploration drilling, exploitation activities and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Assumptions used by the Company to develop forward-looking statements include the following: the Sisson Project will obtain all required environmental and other permits for construction of the mine, the Sisson Project will achieve targeted production levels; the Company's study and development of the Sisson Project will continue to be positive; contracted parties provide goods and/or services on the agreed timeframes; equipment necessary for construction and development is available and does not incur unforeseen breakdowns; no material labour slowdowns or strikes are incurred; plant and equipment functions as specified; geological or financial parameters do not necessitate future mine plan changes; and no geological or technical problems occur. Factors that could cause actual results to differ materially from those in forward-looking statements include uncertainty of shareholder support, the need for judicial and regulatory approvals, fluctuations in market prices, exploitation and exploration successes, continuity of mineralization, potential environmental issues and liabilities associated with exploration, development and mining activities, uncertainties related to the ability to obtain necessary environmental, land use and other permits, approvals, licenses and title on a timely basis and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com. | ||||||
News ReleasesNorthcliff Provides Project Update on the Sisson ProjectApril 17, 2018 Vancouver, BC - Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF), on behalf of Sisson Mines Ltd., the general partner of the Sisson Project Limited Partnership (the "Partnership") is pleased to provide a project update on the Company's Sisson Tungsten-Molybdenum Project (the "Sisson Project"). Since the positive federal environmental assessment ("EIA") decision in mid-2017 (see Northcliff news release dated June 23, 2017), the Partnership has been engaged in advancing various key permits needed for the next stage of development. The Company reports that the MMER Schedule 2 amendment process is proceeding with the required consultation, led by Environment Canada and Climate Change (ECCC), and looks forward to a timely conclusion. In parallel, the Partnership is working with the province and advancing its applications for the Crownland and Mining Leases needed for construction and operation of a mine. Ongoing engineering studies are also underway to further optimize the project; this work is focused primarily on reducing capital and operating costs. The Partnership is also now well advanced in its multi- year metallurgical optimization program conducted under the planning and supervision of Bomenco Minerals Engineering & Consulting Inc. ("Bomenco") at the Lakefield, Ontario facility of SGS Mineral Services Canada. Bomenco has long-term involvement with the Sisson Project, beginning in 2008 and continuing since Northcliff earned in its interest in 2010, including the 2013 Sisson Project feasibility study. The objective of this metallurgical program is to assess the potential to improve the grade of the tungsten concentrate produced by the proposed concentrator for the Sisson Project, while maintaining metallurgically optimal tungsten recoveries. The commodity prices for Sisson's products have recovered from their lows in 2015; Ammonium Paratungstate (APT) prices have recently traded at $330/mtu (London Metals Bulletin) with molybdenum prices reaching $12.50/lb (Platts Metals Daily). Mid to longer term fundamentals for tungsten and molybdenum remain robust, including price forecasts. Discussions with potential offtake groups continue in parallel with project financing efforts. In the meantime, the Partnership's work with local New Brunswick groups on various initiatives are ongoing; these initiatives include education, training and environmental monitoring some of which are included in the provincial EIA conditions. As well, the Partnership is working with Woodstock First Nation in accordance with the Cooperation Agreement (see Northcliff news release March 2, 2017). The Company looks forward to completing the key permit requirements in a timely manner and in the meantime, it will remain focused on the other activities required to move the project towards construction. About Northcliff Resources Ltd. Northcliff, associated with Hunter Dickinson Inc. (HDI), is a mineral resource company focused on advancing the Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. The results of the Feasibility Study completed in January 2013 confirm that the Sisson Project is technically and economically feasible and can move on to the next stage of development. Additional information on Northcliff is available on the website at www.northcliffresources.com. Investor services can be reached at (604) 684-6365 or within North America at 1-800-667-2114. Christopher Zahovskis This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address the in-progress financing, permitting, exploration drilling, exploitation activities and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Assumptions used by the Company to develop forward-looking statements include the following: the Sisson Project will obtain all required environmental and other permits for construction of the mine, the Sisson Project will achieve targeted production levels; the Company's study and development of the Sisson Project will continue to be positive; contracted parties provide goods and/or services on the agreed timeframes; equipment necessary for construction and development is available and does not incur unforeseen breakdowns; no material labour slowdowns or strikes are incurred; plant and equipment functions as specified; geological or financial parameters do not necessitate future mine plan changes; and no geological or technical problems occur. Factors that could cause actual results to differ materially from those in forward-looking statements include uncertainty of shareholder support, the need for judicial and regulatory approvals, fluctuations in market prices, exploitation and exploration successes, continuity of mineralization, potential environmental issues and liabilities associated with exploration, development and mining activities, uncertainties related to the ability to obtain necessary environmental, land use and other permits, approvals, licenses and title on a timely basis and delays due to third party opposition, and development of properties located within First Nations treaty and asserted territories may affect or be perceived to affect treaty and asserted aboriginal rights and title, which may cause permitting delays or opposition by First Nations communities, changes in government policies regarding mining and natural resource exploration and exploitation, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com. | ||||||
News ReleasesPositive Federal Environmental Assessment Decision - Sisson Mine ProjectJune 23, 2017 Fredericton, New Brunswick - Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF), on behalf of Sisson Mines Ltd., is pleased to announce that the Federal Cabinet has approved the Sisson Tungsten and Molybdenum Mine Project, after a rigorous federal environmental assessment under the Canadian Environmental Assessment Act ("CEAA"). The Minister of Fisheries, Oceans and the Canadian Coast Guard, the Honourable Dominic LeBlanc, who recommended approval of the project was quoted in a news release by the New Brunswick government: "The Sisson project will bring about significant new economic opportunities to the people of New Brunswick," said federal Fisheries, Oceans and Canadian Coast Guard Minister Dominic LeBlanc. "During construction and operations, it will create jobs and generate business opportunities, for Indigenous peoples and nearby communities. This project will also help rejuvenate New Brunswick's mining industry and add a source of tungsten to Canada's mineral production."Northcliff President & CEO Chris Zahovskis said, "Successful completion of the environmental assessment process is an important milestone in the development of the Sisson Mine. The decision reinforces the thoroughness of the environmental assessment submitted by the Sisson Partnership, reflecting our commitment to create a project that will bring economic benefits to New Brunswick while protecting the environment. Our focus now will be on securing offtake and financing to advance the project." Documentation related to CEAA review process for the Sisson Mine Project, including the Decision Statement and the Environmental Assessment Report, can be accessed from the Canadian Environmental Assessment Registry website http://ceaa-acee.gc.ca/050/details-eng.cfm?evaluation=63169 About Northcliff Northcliff, associated with Hunter Dickinson Inc. (HDI), is a mineral resource company focused on advancing the Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. The results of a 2013 Feasibility Study confirm that the Sisson Project is technically and economically feasible and can now move on to the next stage of development. For further details on Northcliff, visit the Company's website at www.northcliffresources.com or call Investor Relations at 1-800-667-2114. About the Sisson Partnership The Sisson Partnership, owned by Northcliff and Todd Minerals Ltd., a subsidiary of the family owned Todd Corporation, is responsible for the development of the Sisson Project. Sisson Mines Ltd. Is the operating entity of the Sisson Partnership. For details on the Sisson Partnership, visit the Sisson Project website: www.sissonpartnership.com. Chris Zahovskis President & CEO For more information: Greg Davidson, Community Relations Manager 506-455-0530 GregDavidson@northcliffresources.com This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address permitting, exploration drilling, exploitation activities and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Assumptions used by the Company to develop forward-looking statements include the following: the Sisson Project will obtain all required environmental and other permits for construction of the mine, the Sisson Project will achieve targeted production levels; the Company's study and development of the Sisson Project will continue to be positive; contracted parties provide goods and/or services on the agreed timeframes; equipment necessary for construction and development is available and does not incur unforeseen breakdowns; no material labour slowdowns or strikes are incurred; plant and equipment functions as specified; geological or financial parameters do not necessitate future mine plan changes; and no geological or technical problems occur. Factors that could cause actual results to differ materially from those in forward-looking statements include uncertainty of shareholder support, the need for judicial and regulatory approvals, fluctuations in market prices, exploitation and exploration successes, continuity of mineralization, potential environmental issues and liabilities associated with exploration, development and mining activities, uncertainties related to the ability to obtain necessary environmental, land use and other permits, approvals, licenses and title on a timely basis and delays due to third party opposition, exploration and development of properties located within First Nations treaty and asserted territories may affect or be perceived to affect treaty and asserted aboriginal rights and title, which may cause permitting delays or opposition by First Nation communities, changes in government policies regarding mining and natural resource exploration and exploitation, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com. View Media Release in PDF Format | ||||||
News ReleasesNew Brunswick Accepts Sisson Project Final Environmental Impact Assessment ReportMarch 2, 2015 Fredericton, New Brunswick - Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF), on behalf of Sisson Mines Ltd., is pleased to announce that a review of the Sisson Project Draft Environmental Impact Assessment Report ("EIA Report") has now been completed by the New Brunswick Department of Environment and Local Government ("NBDELG"). The updated Final EIA Report has been deemed acceptable by NBDELG for public consultation. The details of the public consultation process and duration will be announced by NBDELG within the next month. Northcliff President & CEO Chris Zahovskis said, "The acceptance of the Sisson Project Final EIA Report represents a critical milestone for Northcliff and advances our goal of creating a significant new North American tungsten producer. We look forward to the public consultation period as it marks one of the final steps in the provincial EIA process. It will give the public an opportunity to review our comprehensive plans to build and operate an environmentally sound and socially responsible project that will provide significant benefits in the Province of New Brunswick." About Northcliff Northcliff, associated with Hunter Dickinson Inc. (HDI), is a mineral resource company focused on advancing the Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. The results of a 2013 Feasibility Study confirm that the Sisson Project is technically and economically feasible and can now move on to the next stage of development. For further details on Northcliff, visit the Company's website at www.northcliffresources.com and on the Sisson Project, visit the project website at www.sissonpartnership.com. Chris Zahovskis, President & CEO For more information: Greg Davidson Community Relations Manager 506-455-0530 Investor Services 1-800-667-2114 This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address permitting, exploration drilling, exploitation activities and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Assumptions used by the Company to develop forward-looking statements include the following: the Sisson Project will obtain all required environmental and other permits for construction of the mine, the Sisson Project will achieve targeted production levels; the Company's study and development of the Sisson Project will continue to be positive; contracted parties provide goods and/or services on the agreed timeframes; equipment necessary for construction and development is available and does not incur unforeseen breakdowns; no material labour slowdowns or strikes are incurred; plant and equipment functions as specified; geological or financial parameters do not necessitate future mine plan changes; and no geological or technical problems occur. Factors that could cause actual results to differ materially from those in forward-looking statements include uncertainty of shareholder support, the need for judicial and regulatory approvals, fluctuations in market prices, exploitation and exploration successes, continuity of mineralization, potential environmental issues and liabilities associated with exploration, development and mining activities, uncertainties related to the ability to obtain necessary environmental, land use and other permits, approvals, licenses and title on a timely basis and delays due to third party opposition, exploration and development of properties located within First Nations treaty and asserted territories may affect or be perceived to affect treaty and asserted aboriginal rights and title, which may cause permitting delays or opposition by First Nation communities, changes in government policies regarding mining and natural resource exploration and exploitation, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com. | ||||||
News ReleasesNorthcliff Resources Achieves Second Milestone for Additional Funding from ToddOctober 16, 2014 Fredericton, New Brunswick - Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF) is pleased to announce that Todd Minerals Ltd. ("Todd") has advanced the third and final tranche of $4 million in funding as part of the consideration for its initial 11.5% interest in the advanced-stage Sisson Tungsten-Molybdenum Project ("Sisson Project"), located in New Brunswick, Canada. Todd and Northcliff entered into a limited partnership agreement on October 16, 2013 to advance and operate the Sisson Project under the name of the Sisson Project Limited Partnership (the "Limited Partnership"). Todd acquired the right to an initial 11.5% interest in the Limited Partnership by investing $14 million on a staged basis. Todd's investment is now complete and the 11.5% interest has fully vested. Todd also holds an option to acquire an additional 10% interest in the Limited Partnership (for a total potential interest of 21.5% in the Limited Partnership) by investing $20 million in the Limited Partnership upon a final investment decision to commence construction. In addition to its interest in the Limited Partnership, Todd completed a $5 million private placement for 15% of Northcliff on October 16, 2013 and is currently Northcliff's largest shareholder. Todd retains the right to participate pro rata in any future common share offering of Northcliff. Todd has agreed that it will not, subject to certain exceptions, sell its shares in Northcliff for a 24 month period. Northcliff President & CEO Chris Zahovskis said, "We are pleased that Todd's interest in the project has now vested as Todd is a strategic long term partner in the Sisson Project. The Limited Partnership is focused on advancing the EIA process with both the provincial and federal governments, a decision on which is expected in the near term, as well as offtake marketing, project design and project financing." Todd Group CEO, Jon Young said, "Todd Minerals remains committed to the Sisson Project as it advances through this next stage of development and progresses towards a final investment decision. Tungsten fundamentals remain sound and the Sisson Project is a key project to bring reliable supply to the tungsten industry." About Northcliff Northcliff, associated with Hunter Dickinson Inc. (HDI), is a mineral resource company focused on advancing the Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. The results of the Feasibility Study, completed in January 2013, confirm that the Sisson Project is technically and economically feasible and can now move on to the next stage of development. For further details on Northcliff visit Northcliff's website: www.northcliffresources.com and on the Sisson Project visit the project website at www.sissonproject.com. About Todd Minerals Ltd. and Todd Corporation Todd is the subsidiary of Todd Corporation charged with the development of Todd Corporation's mineral and coal investments. Todd Corporation is family owned and is one of New Zealand's largest and most successful companies. The company has interests in oil and gas exploration and production, electricity generation, energy retailing, property development, healthcare, telecommunications and wine. Todd Minerals Ltd. is headquartered at The Todd Building, 95 Customhouse Quay, PO Box 3141, Wellington, New Zealand.
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News ReleasesNorthcliff Announces Launch of New Sisson Project Website and Branding - "The Sisson Partnership"July 31, 2014 Fredericton, New Brunswick - Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF) is pleased to announce it has launched a new project website and branding for the Sisson Project. The Sisson Partnership, owned by Northcliff and Todd Minerals Ltd. ("Todd Minerals") is responsible for all aspects of the proposed Sisson Tungsten-Molybdenum Project in central New Brunswick. Northcliff holds a controlling interest in and is the operator of the Sisson Partnership. The updated branding reflects both the partnership and the advancing nature of the Sisson Project, and positions the project for the next stage of development. Northcliff CEO Christopher Zahovskis said, "We are proud to introduce a new brand and logo that represents the evolving nature of the Sisson Project. This new website and branding allows us to focus on providing up-to-date project related news and information about the Sisson Project. Our new branding and logo represent the partnership we have with Todd Minerals, and also the partnership we are developing with the people of New Brunswick. The Sisson Project is still being advanced by the same group of dedicated professionals and we remain committed to the responsible development of a strategic asset that will deliver significant benefits to New Brunswick." Please visit our new project website at: www.sissonpartnership.com. Information on Northcliff can be found at: www.northcliffresources.com. About The Sisson Partnership Northcliff and Todd Minerals entered into a limited partnership agreement under the name of the Sisson Project Limited Partnership (the "Limited Partnership") in which Todd Minerals acquired an initial 11.5% interest for an initial contribution of $14 million in the Sisson Project on a staged basis, of which $10 million has been invested so far. Todd Minerals also made an investment into Northcliff, and currently owns approximately 15% of the Company. In addition, Todd Minerals has the option to acquire an additional 10% interest in the Limited Partnership by investing $20 million upon a final investment decision to commence construction. About Northcliff Resources Ltd. Northcliff, associated with Hunter Dickinson Inc. (HDI), is a mineral resource company focused on advancing the Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. The results of the Feasibility Study, completed in January 2013, confirm that the Sisson Project is technically and economically feasible and can now move on to the next stage of development. Christopher Zahovskis President & CEO For more information: Greg Davidson, Community Relations Manager 506-455-0530 | Dan Gibbons, Investor Relations 778-373-6908 | ||||||
News ReleasesNorthcliff Announces: Sisson Project Engineering Contract Awarded to JacobsJune 4, 2014 Fredericton, New Brunswick - Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF) is pleased to announce that Sisson Mines Ltd., as general partner of the Sisson Project Limited Partnership (the "Limited Partnership") has awarded Jacobs Minerals Canada Inc. ("Jacobs") the Value and Basic Engineering contract for the Sisson Tungsten-Molybdenum Project located in central New Brunswick, Canada. Under the terms of the contract, Jacobs will further define the engineering plans for the Sisson Project plant site and associated infrastructure in order to refine capital expenditure and operating costs of the proposed mine. Christopher Zahovskis, Director of Sisson Mines said, "Jacobs is one of the world's largest and most diverse full service engineering companies. They have significant experience transitioning mining projects from feasibility phase through to construction. In addition, they have a large presence in New Brunswick with more than 600 employees engaged in a number of contracts. This award of the Value and Basic Engineering contract marks an important milestone and moves the Sisson Project closer to a final construction decision." The Value and Basic Engineering contract with Jacobs includes requesting bids for long lead time mineral processing equipment. In addition, Jacobs will solicit indicative pricing from New Brunswick vendors, suppliers and contractors for certain services and equipment that are locally available. To support this work, Jacobs and Northcliff expect to hold a Contractor Information Session in Fredericton before the end of 2014. Sisson Mines Ltd. expects to move from value and basic engineering into detailed engineering toward the end of the year. In the meantime, the provincial and federal Environmental Impact Assessment review process continues and the Company is simultaneously progressing with offtake and project finance discussions. About Northcliff Northcliff, associated with Hunter Dickinson Inc. (HDI), is a mineral resource company focused on advancing the Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. The results of the Feasibility Study, completed in January 2013, confirm that the Sisson Project is technically and economically feasible and can now move on to the next stage of development. The Sisson Project is being advanced through a Limited Partnership between Northcliff and Todd Minerals Ltd. For further details on Northcliff and the Sisson Tungsten-Molybdenum Project please visit Northcliff's website: www.northcliffresources.com. Christopher Zahovskis President & CEO For more information: Greg Davidson, Community Relations Manager 506-455-0530 | Dan Gibbons, Investor Relations 778-373-6908 | ||||||
News ReleasesNorthcliff Resources achieves First Milestone for additional Funding from ToddApril 15, 2014 Fredericton, New Brunswick - Northcliff Resources Ltd. ("Northcliff") (TSX: NCF) is pleased to announce that Todd Minerals Ltd. ("Todd") has advanced the second tranche of $5 million in funding as part of the consideration for its initial 11.5% project interest. Todd and Northcliff entered into a limited partnership agreement on October 16, 2013 under the name of the Sisson Project Limited Partnership (the "Limited Partnership") to advance and operate the Sisson Project. Todd acquired the right to an initial 11.5% interest in the Limited Partnership by investing $14 million on a staged basis. The initial investment by Todd into the project was agreed to be made in three tranches with the first tranche of $5 million paid on the execution date. This second tranche of $5 million in funding has been paid on achievement of agreed project milestones, including the formal solicitation of tungsten and molybdenum offtake interest in Sisson's product from potential offtake groups and the appointment of Societe Generale as the Project's financial advisor. The final tranche of $4 million will be made by Todd upon completion of additional agreed project milestones, which is targeted to occur later this year. Northcliff President & CEO Chris Zahovskis said, "Todd is a strategic partner in the Sisson Project and an important investor into New Brunswick's mining potential. With Todd's financial support, we have been able to further advance the Sisson Project on the Environmental Impact Assessment process, initiate key permit applications and begin basic engineering in critical project areas. Most notably, this has included hiring key executives to our team as well as engaging third party consultants during the last 6 months. We are currently preparing to hire an engineering firm to undertake the overall basic engineering of the Project while we work to secure offtake interest in Sisson's products and arrange the remaining financing for development." Todd Group CEO, Jon Young said, "Todd, through its partnership with Northcliff, is pleased with the progress Northcliff management has made to date on Sisson. Todd is very committed to safety, sustainability and developing resource projects responsibly. Last month, the Todd Board had an orientation at the project site, coupled with a visit to Fredericton, which included introductions to various stakeholder groups and government representatives. We are looking forward to further supporting the Sisson project and making continued investment into the Province of New Brunswick in a mining project that can have lasting benefits for decades to come." In addition to its interest in the Limited Partnership, Todd also completed a $5 million private placement on October 16, 2013 for 15% of Northcliff common shares. Todd retains the right to participate pro rata in any future common share offering of Northcliff. Todd has agreed that it will not, subject to certain exceptions, sell its shares in Northcliff for a 24-month period. Todd also holds an option to acquire an additional 10% interest in the Limited Partnership (for a total potential interest of 21.5% in the Limited Partnership) by investing $20 million in the Limited Partnership upon a final investment decision to commence construction. About Northcliff Northcliff, associated with Hunter Dickinson Inc. (HDI), is a mineral resource company focused on advancing the Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. The results of the Feasibility Study, completed in January 2013, confirm that the Sisson Project is technically and economically feasible and can now move on to the next stage of development. For further details on Northcliff and the Sisson Tungsten-Molybdenum Project please visit Northcliff's website: www.northcliffresources.com. About Todd Minerals Ltd. and Todd Corporation Todd is the subsidiary of Todd Corporation charged with the development of Todd Corporation's mineral and coal investments. Todd Corporation is family owned and is one of New Zealand's largest and most successful companies. The company has interests in oil and gas exploration and production, electricity generation, energy retailing, property development, healthcare, telecommunications and wine. Todd Minerals Ltd. is headquartered at The Todd Building, 95 Customhouse Quay, PO Box 3141, Wellington, New Zealand. Todd has agreed to purchase the Northcliff common shares for investment purposes and may or may not purchase or sell Northcliff securities in the future on the open market or in private transactions, depending on market conditions and other factors. The Northcliff securities were acquired pursuant to the minimum amount investment exemption under applicable securities laws.
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News ReleasesTodd Minerals Nominates New Director to Northcliff BoardMarch 28, 2014 Fredericton, New Brunswick - Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF) is pleased to announce that Mr. Jacob Roorda, P.Eng, MBA has been nominated by Todd Minerals Limited ("Todd") as its representative on Northcliff's board of directors, replacing Mr. Michael Wolley, Todd's previous board representative. Mr. Michael Wolley will continue to serve as Todd's board representative for Sisson Mines Ltd., the general partner of the Sisson Project Limited Partnership. Mr. Roorda has over 30 years of experience in the oil and gas industry and is currently a Director for Petroshale Inc. and the Managing Director of Windward Capital Ltd., a private consulting practice focused on providing advisory services on oil and natural gas merger and acquisition, operations strategy and financial services. He was the former Vice Chairman for Canoe Financial Corp., the President and VP Corporate for Harvest Energy Trust, VP Corporate and Director for PrimeWest Energy, Inc., and a Managing Director of Research Capital Corporation. About Northcliff Northcliff, associated with Hunter Dickinson Inc. (HDI), is a mineral resource company focused on advancing the Sisson Tungsten-Molybdenum Project, located in New Brunswick, Canada, to production. The results of the Feasibility Study, completed in January 2013, confirm that the Sisson Project is technically and economically feasible and can now move on to the next stage of development. For further details on Northcliff and the Sisson Tungsten-Molybdenum Project please visit Northcliff's website: www.northcliffresources.com. Chris Zahovskis President & CEO For more information: Dan Gibbons, Investor Relations Northcliff Resources Ltd. 778-373-6908 | ||||||
News ReleasesSociete Generale appointed as Financial Advisor for the Sisson ProjectMarch 18, 2014 Fredericton, New Brunswick - Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF) is pleased to announce that Sisson Mines Ltd., as general partner of the Sisson Project Limited Partnership (the "Limited Partnership"), has appointed Societe Generale Corporate & Investment Banking ("Societe Generale") as its financial advisor to assist with the development and execution of the overall financing structure of the Sisson Tungsten-Molybdenum Project (the "Sisson Project") located in central New Brunswick, Canada. Mr. Bryce Hamming, Director of Sisson Mines, states "We are pleased to be appointing Societe Generale, a leading international investment bank with highly regarded expertise in the mining sector, to assist the Limited Partnership in its financing of the Sisson Project." About Northcliff Northcliff, associated with Hunter Dickinson Inc. (HDI), is a mineral resource company focused on advancing the Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. The results of the Feasibility Study, completed in January 2013, confirm that the Sisson Project is technically and economically feasible and can now move on to the next stage of development. For further details on Northcliff and the Sisson Tungsten-Molybdenum Project please visit Northcliff's website: www.northcliffresources.com. About Societe Generale Societe Generale is a leading financial services provider with global reach in the mining sector, providing financing, risk management and advisory services within its natural resources and energy financing group. Chris Zahovskis, President & CEO Northcliff Resources Ltd. For more information: Dan Gibbons, Investor Relations Northcliff Resources Ltd. 778-373-6908 | ||||||
News ReleasesNorthcliff Strengthens Sisson Project Team with Key New Brunswick AdditionMarch 4, 2014 Fredericton, New Brunswick - Northcliff Resources Ltd. ("Northcliff" or the "Company")(TSX: NCF), on behalf of the Sisson Partnership, is pleased to announce that Louise Steward has joined the Company as Vice President, Regulatory & Government Affairs. Northcliff President & CEO Chris Zahovskis said, "We are extremely pleased to welcome Louise to the Sisson Project team. Louise has experience permitting large projects in New Brunswick and she will oversee all matters dealing with regulatory affairs, stakeholder and First Nations engagement for the Sisson Project. The addition of Louise to the project team represents another key step in the development of this project as we move through permitting towards construction." Louise will oversee all matters dealing with regulatory affairs and guide the development of the Sisson Project through permitting. Louise brings 25 years of experience in New Brunswick working in regulatory affairs, environmental impact assessment and public and aboriginal consultation. In her role as a Project Manager with the provincial government, Louise's responsibilities and achievements included the review of various capital projects. In the private sector, she has provided project management, developed work plans and environmental permitting strategies for major projects pursuant to the federal and provincial environmental impact assessment legislation. In her roles, she has also been responsible for public and aboriginal consultation, which required building positive and respectful relationships with community leaders, ENGOs and Aboriginal communities as well as various government agencies at the federal, provincial and municipal levels. Louise has a degree in engineering from the University of New Brunswick. She will work out of our Fredericton office. About Northcliff Resources Ltd. Northcliff, associated with Hunter Dickinson Inc. (HDI), is a mineral resource company focused on advancing the Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. The results of the Feasibility Study, completed in January 2013, confirm that the Sisson Project is technically and economically feasible. The Sisson Project is now in Environmental Impact Assessment review process. For further details on Northcliff and the Sisson Tungsten-Molybdenum Project please visit Northcliff's website: www.northcliffresources.com. Chris Zahovskis, President & CEO Northcliff Resources Ltd. For more information:
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News ReleasesNorthcliff Strengthens Sisson Project Team: Adds Vice President, EngineeringNovember 14, 2013 - Vancouver, British Columbia - Northcliff Resources Ltd. ("Northcliff" or the "Company") is pleased to announce that Kelly Boychuk, P.Eng., MBA, has joined the Company as Vice President of Engineering. As part of the Northcliff management team and reporting to the CEO, Mr. Boychuk will focus on the integration of project engineering into the environmental assessment process and development of the engineering strategy for the Sisson Project. Kelly Boychuk is a Qualified Professional Engineer (geotechnical) and MBA (finance specialization) with over 20 years of experience in mining and hydroelectric projects in North and South America. His experience spans exploration, development, permitting, engineering, construction and operation phases of precious and base metal projects. With experience in Mexico, Chile, Argentina, Bolivia, Guyana, USA (Nevada) and Canada, he has a diverse knowledge base as an engineer, contractor and project developer. He spent a decade as a design and field engineer with Knight Piésold on multiple mining construction projects throughout the Americas, and another decade as a contractor with Ledcor Mining & Power divisions providing project development expertise, construction estimate management and field supervision for both mining and hydroelectric projects in British Columbia. Recently, with Silver Standard Resources, he was involved with both project development of a greenfield mine in Mexico and on-going operations for an expanded tailings storage facility in Argentina. In project development, Mr. Boychuk has been a key part of project teams that have successfully completed the federal Canadian Environmental Assessment (CEA) process and First Nations impact-benefits agreements. Northcliff President & CEO Chris Zahovskis said, "We are extremely pleased to have Kelly on the team. He has the experience and expertise to lead the Sisson Project engineering as Northcliff moves through permitting, construction and into operation." About Northcliff Resources Ltd. Northcliff, associated with Hunter Dickinson Inc. (HDI), is a mineral resource company focused on advancing the Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. The results of the Feasibility Study, completed in January 2013, confirm that the Sisson Project is technically and economically feasible and can now move on to the next stage of development. For further details on Northcliff and the Sisson Tungsten-Molybdenum Project please visit the Company's website: www.northcliffresources.com. Chris Zahovskis President & CEO For more information: Dan Gibbons, Investor Relations 778-373-6908 | ||||||
News ReleasesNorthcliff Closes Todd Corporation Financing for Sisson Tungsten-Molybdenum Project and Appoints new Director to the BoardOctober 16, 2013 Fredericton, New Brunswick - Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF) is pleased to announce it has closed its financing with Todd Minerals Ltd. ("Todd") for the Sisson Tungsten-Molybdenum Project (the "Sisson Project") located in central New Brunswick, Canada. Todd is a subsidiary of the family owned Todd Corporation, one of New Zealand's most successful companies and which has a growing portfolio of mineral investments. As previously announced (see Northcliff news release dated October 3, 2013), Todd completed a private placement of $5 million and acquired ownership and control of 13,888,889 common shares of Northcliff, becoming the largest shareholder of the Company with an approximate 15% interest in Northcliff. In addition, Todd and Northcliff entered into a limited partnership agreement under the name of the Sisson Project Limited Partnership (the "Limited Partnership") in which Todd acquired an initial 11.5% interest for an initial contribution of $14 million in the Sisson Project on a staged basis, with an initial payment of $5 million made on the closing date. In addition, Todd has the option to acquire an additional 10% interest in the Limited Partnership by investing $20 million in the Limited Partnership upon a final investment decision to commence construction. As part of its investment, Todd was entitled to nominate a director to the board of Northcliff and Mr. Michael Wolley, Vice President Minerals and Coal for the Todd Corporation was nominated and approved on closing. Mr. Wolley holds a first class honors degree in Chemical and Materials Engineering (University of Auckland) and a Masters of Management (Macquarie Graduate School of Management). Mr. Wolley had a 15 year career with Mobil Oil Australia in a range of roles including engineering, operations, strategic planning and business development in Australia and New Zealand. In 1995, he left Mobil to pursue opportunities in Asia Pacific and worked in a number of senior executive roles in the manufacturing and industrial sectors including a period as President BlueScope Steel China. In 2007, Mr. Wolley returned to the resources sector as Chief Operating Officer for Lynas Corporation, and subsequently into the gold sector where he is a Director of Red Mountain Mining, an ASX-listed gold development business. Mr. Wolley is a director of Wolf Minerals Ltd, an ASX-listed company, advancing the Hemerdon tungsten-tin project in the United Kingdom. He is also a director of Montero Mining, a TSX-listed resources business, Rutila Resources, an ASX-listed resources business and also sits on the Board of Strattera, the New Zealand minerals industry body, and is a member of the AICD and the NZICD1. About Northcliff Resources Ltd. Northcliff, associated with Hunter Dickinson Inc. (HDI), is a mineral resource company focused on advancing the Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. The results of the Feasibility Study, completed in January 2013, confirm that the Sisson Project is technically and economically feasible and can now move on to the next stage of development. For further details on Northcliff and the Sisson Tungsten-Molybdenum Project please visit Northcliff's website: www.northcliffresources.com. Chris Zahovskis, President & CEO Northcliff Resources Ltd. For more information: Dan Gibbons, Investor Relations Northcliff Resources Ltd. 778-373-6908 1 Australian Institute of Company Directors and the New Zealand Institute of Company Directors
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News ReleasesNorthcliff Secures Todd Corporation as Financing Partner for Sisson Tungsten-Molybdenum ProjectOctober 3, 2013 Fredericton, New Brunswick - Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF) and Todd Minerals Ltd. ("Todd") are pleased to announce that they have entered into agreements for Todd to provide up to $39 million in funding for the Sisson Tungsten-Molybdenum Project (the "Sisson Project") located in central New Brunswick, Canada, in exchange for a direct interest in the Sisson Project and shares in Northcliff. Todd is a subsidiary of the family owned Todd Corporation, one of New Zealand's most successful companies and which has a growing portfolio of mineral investments. Details of the investment by Todd are: Investment in Northcliff
Sisson Project Interest
Northcliff President & CEO Chris Zahovskis said, "We are extremely pleased to have Todd join us at this important stage of the Sisson Project's advancement. Tungsten market fundamentals remain strong with robust prices and continued supply restrictions out of China. These factors underpin the investment case for advanced tungsten deposits in low risk jurisdictions. Todd is an important strategic investor in the Sisson Project as Northcliff sets out to permit, build and operate the Sisson mine in New Brunswick." Todd Group CEO, Jon Young said, "Todd is pleased to be associated with the Sisson Project which, once developed, will be a significant new tungsten producer. The investment is consistent with Todd's strategy of partnering with proven operators to develop long-term projects." Zahovskis also noted "The initial funding from Todd totaling up to $19 million is earmarked for ongoing environmental work to support the harmonized Environmental Impact Assessment process currently being undertaken by the federal and provincial governments, as well as furthering design and engineering studies to advance planning from the feasibility study completed earlier this year, sourcing project financing and off-take arrangements." The positive feasibility study on the Sisson Project (see Northcliff news release dated January 29, 2013) confirmed the technical and economic robustness of the long-life open pit development and its potential to be a strategic near-term tungsten development in a stable jurisdiction. The study, prepared by Samuel Engineering, Inc. estimated annual average production of 557,000 mtu WO3 contained in APT and 4.1 million pounds Mo contained in concentrates over 27 years of operation based on a 30,000 tonne per day mill throughput . The Sisson Project is expected to employ at least 300 people in New Brunswick with up to 500 during the construction phase. Northcliff Chairman Marchand Snyman said "The investment by Todd, which has an excellent track record of managing and investing in diverse fields for more than a century is a testament to the work done on the Sisson Project by the Northcliff team. We welcome Todd's participation in the Sisson Project as a long term partner." The transaction is subject to regulatory approvals and is scheduled to close in early October. About Northcliff Resources Ltd. Northcliff, associated with Hunter Dickinson Inc. (HDI), is a mineral resource company focused on advancing the Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. The results of the Feasibility Study, completed in January 2013, confirm that the Sisson Project is technically and economically feasible and can now move on to the next stage of development. For further details on Northcliff and the Sisson Tungsten-Molybdenum Project please visit Northcliff's website: www.northcliffresources.com. About Todd Minerals Ltd. and Todd Corporation Todd is the subsidiary of Todd Corporation charged with the development of Todd Corporation's mineral and coal investments. Todd Corporation is family owned and is one of New Zealand's largest and most successful companies. The company has interests in oil and gas exploration and production, electricity generation, energy retailing, property development, healthcare, telecommunications and wine. Todd Minerals Ltd. is headquartered at The Todd Building, 95 Customhouse Quay, PO Box 3141, Wellington, New Zealand. Todd has agreed to purchase the Northcliff common shares for investment purposes and may or may not purchase or sell Northcliff securities in the future on the open market or in private transactions, depending on market conditions and other factors. The Northcliff securities were acquired pursuant to the minimum amount investment exemption under applicable securities laws. A copy of the early warning report to be filed by Todd in connection with the investment will be available on Northcliff's profile on SEDAR at www.sedar.com or contact Mike Munro at +64 4 917 8852.
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News ReleasesNorthcliff Submits Environmental Impact Assessment for Sisson Tungsten-Molybdenum ProjectAugust 1, 2013 Fredericton, New Brunswick - Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF) is pleased to announce it has completed the Environmental Impact Assessment Report ("EIA Report") for the Sisson Tungsten-Molybdenum Project (the "Project") located in central New Brunswick. The EIA Report, submitted to the federal Canadian Environmental Assessment Agency and the New Brunswick Department of Environment and Local Government on July 31, 2013, describes the Project and its potential environmental effects, as well as measures to avoid or minimize environmental effects throughout project construction, operation and closure phases. Northcliff President & CEO Chris Zahovskis said, "Submission of the Sisson Project EIA Report marks a critical milestone for Northcliff and advances our goal of creating a significant new North American tungsten producer. Northcliff is committed to developing a project that respects the importance New Brunswick residents place on their land, water and other natural resources. This comprehensive EIA Report, prepared by Stantec with input from leading industry engineering consultants, represents the culmination of two years of field work, baseline studies and engineering. The EIA Report demonstrates the prominence Northcliff places on designing, constructing, operating and closing this project in a responsible manner." The public will have its first opportunity to review and comment on the EIA Report when the document is posted on the Canadian Environmental Assessment Agency website. Information on public comment periods and meetings will be provided by the Canadian Environmental Assessment Agency and the New Brunswick Department of Environment and Local Government. The EIA review, which is a harmonized process involving both the Province of New Brunswick and the federal government, is expected to take approximately one year to complete. Northcliff has a community and First Nations outreach program that will continue through all stages of development and closure. About Northcliff Resources Ltd. Northcliff, associated with Hunter Dickinson Inc. (HDI), is a mineral resource company focused on advancing the Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. The results of the Feasibility Study, completed in January 2013, confirm that the Sisson Project is technically and economically feasible and can now move on to the next stage of development. For more information on Northcliff and the Sisson Tungsten-Molybdenum Project please visit Northcliff's website: www.northcliffresources.com. Chris Zahovskis, President & CEO Northcliff Resources Ltd. For more information: Greg Davidson, Community Relations Manager Northcliff Resources Ltd. 506-455-0530 GregDavidson@northcliffresources.com | ||||||
News ReleasesNorthcliff Signs Process Agreement with Woodstock First NationJune 27, 2013 Fredericton, New Brunswick - Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF) is pleased to announce it has signed a Process Agreement (the "Agreement") with the Woodstock First Nation for the Sisson Tungsten-Molybdenum Project located in central New Brunswick. The Agreement provides a framework for Northcliff and the Woodstock First Nation to negotiate a Cooperation Agreement and to work together on community consultation efforts. Woodstock First Nation Chief Len Tomah, Jr. said, "This is a first and important step for the Woodstock First Nation to take with the Company in assessing whether the proposed Sisson Project can provide sustainable opportunities for our community. There is a great deal that our membership needs to learn about with respect to both the potential impacts and benefits of this Project, and through this Process Agreement, we hope to become better informed about the Sisson Project." Northcliff President & CEO Chris Zahovskis said, "I would like to thank the Woodstock First Nation for their willingness to explore opportunities with us related to the development of the Sisson Project. We believe the proposed project has the potential to create long term benefits for New Brunswick First Nations and this agreement is a step in that direction. We have agreed to implement a community consultation process that is based on open dialogue and good faith. We have also agreed to implement a process to negotiate a long term Cooperation Agreement with the Woodstock First Nation. Northcliff is committed to meaningful consultation with First Nations and we look forward to establishing a long term partnership with the Woodstock First Nation." The Process Agreement consists of the following key areas: Cooperation Agreement Negotiations The Process Agreement outlines the approach for the establishment of a Cooperation Agreement that would record the formal relationship and associated benefits negotiated between the two parties. A Cooperation Agreement, commonly referred to as an Impact and Benefits Agreement, is a long term agreement between a company and a First Nation setting out the obligations, responsibilities and benefits of the various parties. Northcliff and the Woodstock First Nation have agreed to negotiate in good faith and in a spirit of cooperation and mutual respect. A Cooperation Agreement could contain commitments related to environmental protection, education and employment of Woodstock First Nations members, social and cultural protection and enhancements, and economic benefits. Community Consultation Process A key aspect of the consultation process is engaging First Nations community members to discuss potential impacts of the project on First Nations' interests. As part of the Process Agreement, the Woodstock First Nation will implement a community consultation process that will inform the community about the status of the potential development and learn what the community thinks about the Sisson Project. About The Woodstock First Nation The Woodstock First Nation is a Maliseet First Nation located in the Province of New Brunswick on the shore of the Saint John River. The Sisson Project is located within Maliseet traditional territory and approximately 50 kilometers from the Woodstock First Nation's reserve. About Northcliff Resources Ltd. Northcliff, associated with Hunter Dickinson Inc. (HDI), is a mineral resource company focused on advancing the feasibility-stage Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. The results of the Feasibility Study, completed in January 2013, confirm that the Sisson Project is technically and economically feasible and can now move on to the next stage of development. For more information on Northcliff and the Sisson Tungsten-Molybdenum Project, please visit our website: www.northcliffresources.com.
Chris Zahovskis, President & CEO
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News ReleasesNorthcliff Signs Environmental Assessment Review & Capacity Funding Agreement with New Brunswick First NationsJune 20, 2013 Fredericton, New Brunswick - Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF) is pleased to announce it has signed an Environmental Assessment Review and Capacity Funding Agreement (the "Agreement") with the St. Mary's First Nation, Woodstock First Nation and the Assembly of First Nations Chiefs in New Brunswick for the Sisson Tungsten-Molybdenum Project located in central New Brunswick. The Agreement provides a framework for Northcliff to provide funding and in-kind support to all New Brunswick First Nations to assist in their participation in and facilitate their technical review of the Sisson Project during the Environmental Assessment Process. The funding is intended to assist First Nations where they feel they need additional resources to review technical materials and assist community members in understanding technical aspects of the project. In addition to Northcliff's capacity support, First Nations of New Brunswick have also received Participation Funding under the Canadian Environmental Assessment Agency's Participant Funding Program. Chief Lenny Tomah Jr. of Woodstock First Nation said, "Woodstock First Nation has taken a proactive approach with respect to the Sisson Tungsten-Molybdenum Project, as well all natural resource development which may impact First Nation culture. Our First Nation is committed to the protection, and exercise, of our constitutionally protected Aboriginal and treaty rights. We have worked diligently to foster and promote a robust consultation process within the Province of New Brunswick. Creating an environment with the capacity to meaningfully participate in consultation is an important step and the funding provided by Northcliff is a step towards achieving this." New Brunswick Energy and Mines Minister Craig Leonard said he is pleased that the capacity funding agreement has been reached. "We have demonstrated on a number of projects the importance of participation and partnership with First Nations and this is an excellent accomplishment as Northcliff Resources continues its due diligence on a project that could have tremendous benefits for New Brunswick," Leonard said. Northcliff President & CEO Chris Zahovskis said, "Northcliff is committed to meaningful consultation with First Nations and this Agreement is a demonstration of our continued interest in supporting First Nations' active engagement in the Sisson Project and the Environmental Impact Assessment. We are delighted that St. Mary's, Woodstock and the Assembly of First Nations Chiefs in New Brunswick, collectively representing all First Nations in New Brunswick, have agreed to work together by jointly retaining technical experts to assist them in reviewing, understanding and commenting on any documents, reports or information related to the Sisson Project as part of the EA Process. We look forward to continuing an open dialogue with First Nations during the environmental review process." About Assembly of First Nations Chiefs in New Brunswick Established in 2010, the Assembly of First Nations Chiefs in New Brunswick represents 13 of New Brunswick's 15 First Nations communities, of which nine are Mi'kmaq and six are Maliseet. About Woodstock First Nation Woodstock First Nation is a Maliseet First Nation located in the province of New Brunswick on the shore of the Saint John River. The Sisson Project is located within Maliseet traditional territory and approximately 50 kilometres from the Woodstock First Nation's reserve. About St. Mary's First Nation St. Mary's First Nation is the largest of Maliseet Nations along the St. John River & plays a vital economic role in New Brunswick's Capital City of Fredericton. About Northcliff Resources Ltd. Northcliff, associated with Hunter Dickinson Inc. (HDI), is a mineral resource company focused on advancing the feasibility-stage Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. The results of the Feasibility Study, completed in January 2013, confirm that the Sisson Project is technically and economically feasible and can now move on to the next stage of development. For more information on Northcliff and the Sisson Tungsten-Molybdenum Project please visit our website: www.northcliffresources.com.
Chris Zahovskis, President & CEO
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News ReleasesNorthcliff Files NI 43-101 Technical Report for Sisson Tungsten-Molybdenum Project Feasibility StudyMarch 13, Vancouver, British Columbia - Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF) announced today that it has filed a National Instrument 43-101 Technical Report (the "Technical Report") for the Feasibility Study of the Company's 100%-owned Sisson Tungsten-Molybdenum Project in central New Brunswick. The positive results as described in the Company's January 29, 2013 news release and further documented in the Technical Report confirm the technical and economic viability of the Sisson Project, which is advancing to the next stage of planning for the CAD $579 million development. The Technical Report will be available under the Company's profile on SEDAR at www.sedar.com and also accessible through a link to SEDAR on the Company's website at www.northcliffresources.com. About Northcliff Northcliff is a mineral resource company associated with Hunter Dickinson Inc. (HDI), and focused on progressing its Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada to production. For further details on Northcliff and the Sisson Project, please visit www.northcliffresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114. Christopher Zahovskis President and CEO | ||||||
News ReleasesNorthcliff Announces New Directors And ChairmanFebruary 1, 2013 Vancouver, BC - Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF) announces the appointment of Marchand Snyman and David J. Copeland to the Company's Board of Directors, effective January 31, 2013. Mr. Snyman has also been nominated as Chairman of the Board of Directors, replacing Robert A. Dickinson who is stepping down but remains on the Board as a Director. Marchand Snyman is a dual Australian and South African Chartered Accountant and mining executive who has more than 17 years of experience in corporate finance, with 14 years in the mining industry. His extensive industry experience includes having worked for Anglo Platinum Limited as General Manager of Corporate Finance and Development where he was responsible for managing joint venture negotiations, corporate tax structures and offshore corporate operations. From 2003 to 2006, Mr. Snyman was a director of Muratie Investments Pty Limited, an Australian mining consultant providing advisory services to businesses in Australia, China, South Africa and North America. In 2008, he became Chief Operating Officer of Hunter Dickinson Inc. (HDI). David J. Copeland is a Professional Engineer with over 30 years of experience in a variety of capacities in mine exploration, discovery and development throughout the South Pacific, Africa, South America and North America and a particular focus on the engineering and permitting stages. He has been a key contributor to projects, providing expertise and leadership on the Mt. Milligan Copper-Gold Project in British Columbia (BC), the South Kemess mine in central BC, the Hollister development project in Nevada, USA, the Burnstone mine in South Africa and the Xietongmen project in Tibet, China. Mr. Copeland is also Director of Project Development at HDI. Mr. Dickinson said "I would like to welcome the new directors to the Board and, in particular, Marchand Snyman who will be taking over from me as Chairman to facilitate Sisson's advancement through a strategic partnering process, project financing and permitting. With the recent announcement of a very strong feasibility study for the Sisson Project, I look forward to taking an active and ongoing role as a director of the Company." "I am very pleased with the appointment of Dave Copeland and Marchand Snyman to Northcliff's Board of Directors, with Marchand assuming the role of Chairman. Their track record of success in mine development and financing speaks to the high level of experience and knowledge that they will bring to the Board and to the next stage of advancement of the Sisson Project," states Christopher Zahovskis, President & CEO. "On behalf of the Board of Directors, I would like to express our gratitude to Bob Dickinson for his many contributions and leadership during his time as Chairman." About Northcliff Northcliff is a mineral resource company associated with Hunter Dickinson Inc. (HDI), and focused on progressing the feasibility-stage Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. For further details on Northcliff and the Sisson Project, please visit www.northcliffresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114. Christopher Zahovskis President & CEO No regulatory authority accepts responsibility for the adequacy or accuracy of this release. CAUTION REGARDING FORWARD-LOOKING INFORMATION This document contains "forward-looking statements" that are based on Northcliff's expectations, estimates and projections as of the dates as of which those statements were made. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "outlook", "anticipate", "project", "target", "believe", "estimate", "expect", "intend", "should" and similar expressions. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These include but are not limited to:
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News Releases$579 Million Sisson Project Has Potential to Generate More Than 300 Jobs for New BrunswickJanuary 29, 2013 -- Fredericton, New Brunswick -- Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF) is pleased to announce it has completed a Feasibility Study for the Sisson Tungsten-Molybdenum Project, located in central New Brunswick. The results of the independent study confirm that the Sisson Project is technically and economically feasible and can now move on to the next stage of the CAD $579 million development. Northcliff Resources CEO Chris Zahovskis said, "The results of the Feasibility Study have confirmed the economic and technical viability of the Sisson Project. This is an exciting and important resource development project for New Brunswick and we believe it has the potential to become a catalyst for growth in the provincial economy. The Sisson Project will benefit New Brunswick citizens and communities by maximizing local opportunities at every stage of project development. Residents and businesses of communities in the project area and the province of New Brunswick are given priority consideration for employment and contracting. The project will also generate significant tax revenues which could help fund improvements to roads, health care and schools in New Brunswick." The responsible development of the Sisson Project will require a total capital investment of some $579 million and generate 300 direct operations jobs during the 27 year life of the project and up to 500 jobs during the project's two year construction phase. The Feasibility Study also illustrates the significant annual tax revenues that the Sisson Project will generate. At base level assumptions, the Sisson Project will generate more than $525 million in direct provincial tax revenues in 2013 dollars over its 27-year operating life, more than half of which will be collected under the current Metallic Minerals Act mining tax regime. On average, the Sisson Project will generate $19.5 million annually provincial tax revenues. The project will further generate more than $367 million in direct federal taxes, an average of $13.6 million per year. Average annual operating expenditures of approximately $146 million include more than $20 million in payroll to employees. The Feasibility Study outlines several key aspects of the Sisson Project:
Northcliff expects to submit an Environmental Impact Assessment ("EIA") report early in 2013. Project stakeholders in New Brunswick will have multiple opportunities to participate in the Environmental Impact Assessment and project review process through working groups, a government sponsored public meeting and during public comment periods associated with the EIA process when the EIA Report is released by the regulators. Environmental studies conducted to date have informed the Sisson Project design and the EIA will assess Northcliff's plans for constructing, operating and eventually closing the Sisson Project in an environmentally responsible manner. Northcliff Resources Ltd. applies the principles of responsible mineral development, which involves early, ongoing and open engagement with First Nations and communities in the areas surrounding the Sisson Project. For full details of the Feasibility Study results, please visit our website at www.northcliffresources.com. For more information: Greg Davidson Community Relations Manager Northcliff Resources Ltd. 506-455-0530 GregDavidson@hdimining.com | ||||||
News ReleasesNorthcliff Provides Update on Sisson Project Feasibility Study and Environmental AssessmentOctober 11, 2012 Vancouver, BC -- Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX: NCF) announces an update on current studies underway on its 100% owned Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada. Feasibility Study The Sisson Project Feasibility Study, which is being prepared by Samuel Engineering, Inc. of Denver, Colorado, is nearing completion. The Company plans to announce the results by mid-November 2012, following which the Company will have 45 days to file the corresponding NI 43-101 technical report on SEDAR (www.sedar.com). Environmental Assessment and Permitting The Environmental Impact Assessment (EIA) report, which is being prepared by Stantec Inc., of Fredericton, New Brunswick, remains on track for completion in November 2012 and subsequent submission to both Federal and Provincial governments. Concurrent with the review of the EIA, the Company plans to begin preparing for permit and mining license applications. Financing Over the past several months, Northcliff has begun the process of engaging with potential strategic partners to assess their interest in participating in the Sisson Project. The Company expects that this process will continue through the end of 2012 and into 2013. Northcliff President and CEO Christopher Zahovskis said, "I am pleased with the progress that has been made since Northcliff started work on the Sisson Project just two years ago. We set out an ambitious schedule at that time with an overall objective of completing the feasibility study by the fall of this year. With the upswing in the tungsten market over the same period, we have remained focused on advancing Sisson into the feasibility stage as quickly as possible to provide tremendous potential value to our shareholders." About Northcliff Northcliff is a mineral resource company associated with Hunter Dickinson Inc. (HDI), and focused on progressing the feasibility-stage Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. For further details on Northcliff and the Sisson Project, please visit www.northcliffresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114. Christopher Zahovskis President & CEO | ||||||
News ReleasesVideo - "Tungsten: The Next Growth Metal" | ||||||
News ReleasesGeodex Shareholders Receive Northcliff SharesJuly 5, 2012 Vancouver, BC -- Northcliff Resources Ltd. ("Northcliff") (TSX: NCF) announces that on July 4, 2012, the shareholders of Geodex Minerals Ltd. ("Geodex") (TSX.V: GXM) received their proportionate Northcliff shares by virtue of a distribution of the 16,003,700 Northcliff shares by Geodex. The Northcliff shares received by Geodex shareholders are subject to a four month hold period, as per Canadian securities regulations, which will expire on October 22, 2012. As announced on April 18, 2012, Geodex agreed to sell its 30% interest in the Sisson Project in New Brunswick in consideration for 16,003,700 common shares of Northcliff, $1 million in cash and the return to Geodex for cancellation of 3,333,333 Geodex common shares that Northcliff purchased in 2010. The transaction completed on June 21, 2012. "We are very pleased with the conclusion of this consolidation transaction and the ability of Geodex shareholders to continue to realize value in the Sisson Project through their Northcliff shares," said Christopher Zahovskis, President and CEO of Northcliff. About Northcliff Northcliff is a mineral resource company associated with Hunter Dickinson Inc. (HDI), and focused on progressing the feasibility-stage Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. For further details on Northcliff and the Sisson Project, please visit www.northcliffresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114 Christopher Zahovskis President & CEO | ||||||
News ReleasesInvitation to Career Information SessionsNorthcliff Resources is currently completing a feasibility study and comprehensive environmental assessment to develop the Sisson Project -- a proposed tungsten/molybdenum mine located approximately 100 kilometers northwest of Fredericton. Northcliff Resources, in cooperation with the Department of Post-Secondary Education, Training and Labour and the New Brunswick Community College network will host sessions that spot light Careers in Mining in the following communities: Millville June 20 4pm-8pm Millville Village OfficeThe sessions will provide information about the types of careers typical at a modern open-pit mining operation and the availability of applicable education and training programs offered locally. Information will also be available on education and skills upgrading programs and trade training and certification offered by the Government of New Brunswick, Post Secondary Education, Training and Labour staff. We hope you can join us. | ||||||
News ReleasesGeodex Shareholders Approve Acquisition by Northcliff of Sisson Project InterestJune 19, 2012 Vancouver, BC - Northcliff Resources Ltd. ("Northcliff") (TSX: NCF) announces that the shareholders of Geodex Minerals Ltd. ("Geodex") (TSX.V: GXM) have approved by special resolution the acquisition of the remaining 30% interest in the Sisson Project by Northcliff. As announced on April 18, 2012, Geodex agreed to sell its 30% interest in the Sisson Project in New Brunswick in consideration for 16,003,700 common shares of Northcliff, $1 million in cash and the return to Geodex for cancellation of 3,333,333 Geodex common shares that Northcliff purchased in 2010. "We are very pleased with the approval of this consolidation transaction by Geodex shareholders who can continue to realize value in the Sisson Project through their Northcliff shares once they are distributed by Geodex in early July," said Christopher Zahovskis, President and CEO of Northcliff. June 28, 2012 and July 4, 2012 have been established by Geodex as the record and distribution dates, respectively, for the distribution of the 16,003,700 common shares of Northcliff to Geodex common shareholders. The acquisition remains subject to final TSX and TSX Venture Exchange approval. About Northcliff Northcliff is a mineral resource company associated with Hunter Dickinson Inc. (HDI), and focused on progressing the feasibility-stage Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. For further details on Northcliff and the Sisson Project, please visit www.northcliffresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114. Christopher Zahovskis President & CEO No regulatory authority accepts responsibility for the adequacy or accuracy of this release. This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address completion of the Acquisition, permitting, exploration drilling, exploitation activities and events or developments that the company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include uncertainty of shareholder support, the need for judicial and regulatory approvals, market prices, exploitation and exploration successes, continuity of mineralization, potential environmental issues and liabilities associated with exploration, development and mining activities, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com. | ||||||
News ReleasesNorthcliff Completes Earn-In Obligations For Its 70% Interest In The Sisson ProjectJune 15, 2012 Vancouver, BC -- Northcliff Resources Ltd. ("Northcliff") (TSX: NCF) announces that it has fulfilled its earn-in obligations for a 70% interest in the Sisson tungsten-molybdenum project ("Sisson Project") under the Sisson Development Joint Venture Agreement ("JVA") with joint venture partner, Geodex Minerals Ltd. ("Geodex") (TSX.V: GXM). Under the terms of the JVA, Northcliff was required to fund the lesser of (i) $17,000,000 in Sisson JV expenditures (less $580,000 in minority interest acquisition costs and $1 million in common shares subscribed for in Geodex), or (ii) the actual amount of expenditures incurred to produce a feasibility study report and to commence mine construction on the basis contemplated in the feasibility study report. Northcliff has now completed the requirement and secured the 70% interest. "This is yet another major milestone for Northcliff in advancing the Sisson Project in New Brunswick and achieving our goal to be the next major tungsten producer in Canada," said Christopher Zahovskis, President and CEO of Northcliff. "In just over 19 months, Northcliff has spent $15.4 million on the Sisson Project in direct project development costs. This investment by Northcliff accounts for roughly 55% of the total $28.1 million spent on the Sisson Project since Geodex first acquired the property in 2004. "Importantly, a significant portion of our expenditures have been incurred within the Province of New Brunswick, and this will continue." Zahovskis added, "Our engineering teams are progressing with the feasibility program and we look forward to announcing the study results for a bulk tonnage, open pit mine by the end of Q3 of this year. With a measured and indicated resource of 383 million tonnes (see Northcliff's announcement on May 17, 2012), the Sisson Project has the potential to be a long life mining operation spanning over 30 years and producing significant amounts of tungsten and molybdenum." "We are very pleased with Sisson's potential to contribute significantly to non-Chinese sourced tungsten supply in the near term," stated Robert Dickinson, Chairman of Northcliff, "particularly during this period of resilient tungsten prices and demand growth." The Company also finalized the Terms of Reference for the Environmental Impact Assessment (EIA) with federal and provincial government agencies in April. The EIA Report drafting is underway and remains targeted for submission by the end of Q3 2012. The federal project approval process is harmonized with the Province of New Brunswick process. In the meantime, Northcliff will begin preparing permit applications in the upcoming months. On May 10, 2012, Northcliff announced that it signed a definitive purchase agreement with Geodex to acquire the remaining 30% interest in the Sisson project. The acquisition remains subject to approval by special resolution of Geodex shareholders at Geodex's special shareholders' meeting scheduled for June 18, 2012, and final TSX and TSX Venture Exchange approval. About Northcliff Northcliff is a mineral resource company associated with Hunter Dickinson Inc. (HDI), and focused on progressing the feasibility-stage Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. For further details on Northcliff and the Sisson Project, please visit www.northcliffresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114. Christopher Zahovskis President & CEO (i) Grading 0.067% WO3 and 0.021% Mo at a $9 Net Smelter Return/tonne cutoff. | ||||||
News ReleasesNorthcliff Shareholders Unanimously Approve Acquisition of Geodex Interest in the Sisson ProjectJune 4, 2012 Vancouver, BC - Northcliff Resources Ltd. ("Northcliff") (TSX: NCF) announces that its shareholders have unanimously approved its acquisition ("Acquisition") of the remaining 30% interest in the Sisson tungsten-molybdenum project ("Sisson Project") from its joint venture partner, Geodex Minerals Ltd. ("Geodex") (TSX.V: GXM) at its Annual General Meeting held at the Company's offices on May 30, 2012. A copy of the voting results has been filed at www.sedar.com. As reported in the Company's news release issued on April 18, 2012, Geodex agreed to sell its 30% interest in the Sisson Project in New Brunswick in consideration for 16,003,700 common shares of Northcliff, $1 million in cash and the return to Geodex for cancellation of 3,333,333 Geodex common shares that Northcliff purchased in 2010. Geodex has recently announced that June 28, 2012 and July 4, 2012 have been established as the record and distribution dates, respectively, for the distribution of the 16,003,700 common shares of Northcliff to Geodex common shareholders. The Acquisition remains subject to approval by special resolution of Geodex shareholders at Geodex's special shareholders' meeting scheduled for June 18, 2012. The Acquisition is also subject to final TSX and TSX Venture Exchange approval. The incumbent Board of Directors of Northcliff was also re-elected. In addition, Scott Cousens, Director of Capital Markets at Hunter Dickinson Inc., has been elected to the Board. About Northcliff Northcliff is a mineral resource company associated with Hunter Dickinson Inc. (HDI), and focused on progressing the feasibility-stage Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. For further details on Northcliff and the Sisson Project, please visit www.northcliffresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114 Christopher Zahovskis President & CEO This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts that address completion of the Acquisition, permitting, exploration drilling, exploitation activities and events or developments that the company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include uncertainty of shareholder support, the need for judicial and regulatory approvals, market prices, exploitation and exploration successes, continuity of mineralization, potential environmental issues and liabilities associated with exploration, development and mining activities, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com. | ||||||
News ReleasesNorthcliff Resources Signs Letter Agreement With Geodex Minerals To Consolidate Ownership Of The Sisson ProjectApril 18, 2012 Vancouver, BC -- Northcliff Resources Ltd. ("Northcliff") (TSX: NCF) announces that it has signed a letter agreement with Geodex Minerals Ltd. ("Geodex") (TSX.V: GXM) to acquire Geodex's 30% interest in the Sisson Tungsten-Molybdenum Project in New Brunswick in consideration for cash, a return of Geodex shares Northcliff owns for cancellation and the issuance of common shares of Northcliff (the "Acquisition"). In October 2010, Northcliff acquired a 70% interest in the Sisson Project from Geodex, subject to investing up to $17 million in exploration, feasibility and project costs. Northcliff expects to complete its $17 million investment in early May 2012. Northcliff will issue 16,003,700 common shares to Geodex and pay $1 million in cash to acquire Geodex's 30% interest in the Sisson Project. As part of the Acquisition, Northcliff will also return to Geodex for cancellation the 3,333,333 common shares of Geodex that Northcliff purchased for $0.30 per share. The Acquisition is expected to be completed by Geodex using a plan of arrangement which will include the authorization for the Geodex Board to establish the terms of any future distribution of the Northcliff common shares to Geodex shareholders. If Northcliff shares are retained by Geodex, they will be escrowed with a mutually agreed third party until the commencement of mine construction but in any event, no longer than three years from the closing date. "We believe that consolidating ownership under Northcliff will be a positive development for the efficient advancement of the Sisson Project in a manner that benefits both sets of shareholders and we believe that this transaction will provide Geodex investors, along with Northcliff investors, with the opportunity to participate in the development of the Sisson Project," said Northcliff President & CEO Chris Zahovskis. "With an estimated working capital of $14 million after completion of the Acquisition, Northcliff maintains a strong financial position to meet the ongoing project development needs in the near term. Northcliff's corporate and project teams remain wholly focused on advancing the Sisson Project toward the completion of a Feasibility Study and initiating permitting later this year, including obtaining the project financing necessary to complete detailed engineering and pending permit approval, to initiate the construction phase in 2013." Geodex President & CEO Mark Fields stated that "Geodex spent considerable time considering the alternatives to maximize the benefit to Geodex shareholders of its 30% Sisson interest. The Acquisition was unanimously approved by Geodex's Board of Directors as it will provide several advantages to Geodex shareholders. A key one was the continued participation in the future growth of the Sisson Project through the Northcliff share ownership while maintaining their current Geodex share position. The Acquisition also eliminates the dilution and financing risk if Geodex were to meet its ongoing 30% Sisson financial commitment under the existing joint venture. In addition, the immediate cash injection will allow Geodex to focus on its New Brunswick exploration assets and particularly the Dungarvon tungsten-molybdenum-tin project which provides promising discovery potential through a drill program this summer." The Acquisition is subject to customary terms and conditions including approvals of the shareholders of Geodex and Northcliff, the TSX, the TSX Venture Exchange and the Supreme Court of British Columbia. Completion of the Acquisition is targeted for the end of the second quarter of 2012. Fields concluded by noting "We have been very pleased with the work Northcliff has performed to date, as manager under the joint venture, and their proven ability to advance the Sisson Project. This will be crucial to the continued success and value addition we expect to occur." About Northcliff Northcliff is a mineral resource company associated with Hunter Dickinson Inc. (HDI), and focused on progressing the feasibility-stage Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. About Geodex Geodex is a mineral resource company focused on New Brunswick, Canada with its primary asset being its 30% Sisson ownership interest. Geodex is also actively developing its exploration portfolio focused on the discovery of critical metals in New Brunswick. For further details on Northcliff and the Sisson Project, please visit www.northcliffresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114. For further details on Geodex, please visit www.geodexminerals.com or contact Investor Relations at (604) 689-7771 or within North America at 1-888-999-3500.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address completion of the Acquisition, permitting, exploration drilling, exploitation activities and events or developments that the company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performanc33%"e and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include uncertainty of shareholder support, the need for judicial and regulatory approvals, market prices, exploitation and exploration successes, continuity of mineralization, potential environmental issues and liabilities associated with exploration, development and mining activities, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com. | ||||||
News ReleasesFeasibility Study for Sisson Tungsten-Molybdenum Project on track for completion in Q3 2012March 5, 2012 Vancouver, B.C. -- Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX:NCF) announces an update on its 2012 work program at the Sisson Tungsten-Molybdenum Project in New Brunswick, Canada, as well as a report on the progress of the Feasibility Study for proposed open-pit, high-volume tungsten and molybdenum production. "Following a productive field season in 2011 and a robust start to the 2012 year for the Company and the tungsten market, I'm pleased to confirm that the Sisson Project Feasibility Study is advancing on schedule, with an anticipated completion date in Q3 2012," said Northcliff President & CEO Chris Zahovskis. "Our engineering teams are making excellent progress on feasibility-level designs for the project, while parallel environmental studies are moving forward equally well. Our intent is to submit an Environmental Impact Assessment (EIA) report for the Sisson Project in Q3 2012 and begin project permitting also around the same time". Northcliff recently facilitated public review of the draft Terms of Reference (TOR) for its EIA report through open houses in local communities, and anticipates receiving final TOR in March. The Sisson Project EIA report will be submitted to both federal and provincial government agencies to enable an efficient and harmonized federal/provincial environmental assessment and project approval process. In addition to its engineering, environmental and technical study programs, Northcliff is advancing consultation and engagement activities with project stakeholders and New Brunswick First Nations. "As a company, we recognize the importance of local involvement in our projects, and are investing significant time and effort to ensure that we develop positive, respectful and mutually beneficial relationships with local communities, stakeholder groups, First Nations communities and organizations," Zahovskis said. "We're pleased with the relationships and dialogues established to date, and are optimistic that we can advance the Sisson Project in a manner that optimizes benefits for nearby communities and all the people of New Brunswick, while respecting local interests and concerns." Beginning in Q2 of this year, Northcliff management, on behalf of the Sisson Project joint venture, will commence discussions with potential financing partners -- including international banking institutions, smelter groups and others -- to outline and advance a project financing strategy. "We're encouraged by recent announcements of project finance agreements and strategic partnerships on preferable terms for comparable tungsten mineral projects at the feasibility stage of development," said Northcliff Chief Financial Officer Bryce Hamming. "We expect the market appetite for larger capital investments in North American and European tungsten properties to continue, given the strong price outlook for tungsten and ongoing tungsten export restrictions from China, the world's largest producer. Given its advanced stage of development, its anticipated globally significant output of 6-8% of current world tungsten demand, and its potential for a long mine life, we are confident that Sisson will emerge as a high quality tungsten asset that captures the interest of the international investment community." Infrastructure availability is an important competitive advantage for the Sisson Project. The deposit is readily accessed by road and railway from all parts of New Brunswick, including deep sea ports to the north (Belledune) and south (Saint John). The New Brunswick Power Transmission Corporation recently completed a review of potential power sources for the proposed mine, and concluded that power could be supplied via a 42 km high voltage transmission line built by New Brunswick Power. Discussions concerning development of power infrastructure are progressing well, and the development is expected to match Northcliff's timeline for the Sisson Project with construction anticipated to begin in the latter part of 2013. "We've always maintained that the Canadian province of New Brunswick represents a preferred jurisdiction for modern mine development," Zahovskis said. "It possesses a rich mining history and culture that includes the Bathurst mining camp to the north and the Sussex potash mine to the south, as well as a skilled and available workforce, unparalleled infrastructure availability and a mature and stable regulatory environment." Zahovskis noted a recent report published by the Fraser Institute that identifies New Brunswick as the most attractive jurisdiction in the world for mineral exploration and development. About Northcliff Northcliff is a mineral resource company associated with Hunter Dickinson Inc. (HDI), a diversified, global mining group with a 25 year history of mineral development success. Northcliff is focused on advancing the feasibility stage Sisson Tungsten-Molybdenum Project, located in New Brunswick, Canada, to production. Northcliff has acquired a 70% interest in the Sisson Project from Geodex Minerals Ltd., subject to investing up to $17 million in exploration, feasibility and project costs. The advanced stage Sisson Project has excellent potential for near-term production of tungsten and molybdenum. Its location near roads, rail and tidewater on the eastern seaboard of North America provides Sisson with key logistical advantages over its peer group. New Brunswick is a stable jurisdiction with a long tradition of mineral and resource development, and a well-established regulatory system. By advancing Sisson, Northcliff will become one of North America's first major tungsten producers, greatly increasing supply to the large North American and European markets where demand far outstrips supply. For further details on Northcliff and the Sisson Project, please visit www.northcliffresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114. Christopher Zahovskis President & CEO | ||||||
News ReleasesNorthcliff Begins Trading On The Toronto Stock Exchange And Appoints New Independent DirectorFebruary 1, 2012 Vancouver, B.C. -- Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSXV:NCF) announces that it will begin trading on the Toronto Stock Exchange ("TSX") on Thursday, February 2, 2012 under the symbol NCF. President & CEO Chris Zahovskis said: "Northcliff has reached a number of key project milestones over the past year. The Company went public in June 2011 and concurrently completed a significant financing of close to $28 million to ensure that the Sisson Project in New Brunswick can be advanced to a construction decision without necessitating additional development financing. With the achievement of a TSX listing, we believe that the Company's international profile will be raised with strategic and institutional investors as we begin to prepare for permitting and project financing." "We've also been very pleased with the progress of our technical programs at the Sisson Project. We have established experienced project and engineering teams, and are well launched on our program to deliver a Feasibility Study and submit the Environmental Impact Assessment by Q3 2012. Additionally, project permitting will be initiated in the latter part of 2012. The tungsten market also remains strong: tungsten prices have appreciated nearly 400% since 2005, outperforming even precious metals such as gold and silver over the same period," Zahovskis said. "We believe the Sisson Project will become a significant new producer of tungsten for the North American and European markets with the potential to provide between 5 to 8% of the global tungsten supply." Robert A. Dickinson, Chairman of the Board, is also pleased to announce the appointment of Darcy Rezac as an Independent Director of Northcliff. Mr. Dickinson said "Darcy Rezac brings a great deal of leadership in economic and corporate development and has played key roles in the areas of community leadership, public policy and business-government and international trade relations. We welcome him to the Board." Darcy Rezac is the Managing Director of Ana Pacific Consulting and has served on numerous boards including the Vancouver International Airport (YVR), BC Bearing Engineers Ltd., Vancouver Board of Trade, and BC Trade Development Corporation. Mr. Rezac has served on a number of board committees, including nominating and executive, HR, strategic planning, investment and audit. Mr. Rezac also served as Director of Corporate Services for Alcan Canada between 1980 and 1984. About Northcliff Northcliff is a mineral resource company associated with Hunter Dickinson Inc. (HDI), a diversified, global mining group with a 25-year history of mineral development success. Northcliff is focused on advancing the feasibility-stage Sisson Tungsten-Molybdenum Project, located in New Brunswick, Canada, to production. Northcliff has acquired a 70% interest in the Sisson Project from Geodex Minerals Ltd., subject to investing up to $17 million in exploration, feasibility and project costs. The advanced stage Sisson Project has excellent potential for near-term production of tungsten and molybdenum. Its location near roads, rail and tidewater on the eastern seaboard of North America provides Sisson with key logistical advantages over its peer group. New Brunswick is a stable jurisdiction with a long tradition of mineral and resource development, and a well-established regulatory system. By advancing Sisson, Northcliff will become one of North America's first major tungsten producers, greatly increasing supply to the large North American and European markets where demand far outstrips supply. For further details on Northcliff and the Sisson Project, please visit www.northcliffresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114. Christopher Zahovskis President & CEO | ||||||
News ReleasesNorthcliff Advances Work Program To Achieve Sisson Project Feasibility Study In Q3 2012July 5, 2011 Vancouver, BC -- Northcliff Resources Ltd. ("Northcliff" or the "Company") (TSX-V: NCF) is pleased to provide an update on the status and activities at the feasibility-stage Sisson Tungsten-Molybdenum Project, located in west-central New Brunswick. The Sisson property hosts an important scale, near-surface tungsten-molybdenum deposit with mineral resources potentially amenable to open pit mining. Northcliff is advancing feasibility-level engineering and environmental studies, along with associated fieldwork and comprehensive stakeholder engagement programs, toward the completion of a Feasibility Study and Environmental Impact Assessment (EIA) for the Sisson Project in Q3 2012. "The Sisson Project is well-advanced from a geological, technical and environmental perspective, such that we expect to move efficiently over the coming 15 months to complete a Feasibility Study and initiate federal and provincial permitting," confirmed Northcliff President and CEO Chris Zahovskis. "At the same time, we are very cognizant of our obligation to work with local communities, First Nations, governments and other land and resource users to ensure the Sisson Project is both environmentally sound and respects the priorities and concerns of local people. That important work has begun, and we are pleased with the progress made to date." Northcliff recently initiated a 9,000-metre drill program at the Sisson property to collect representative core samples for feasibility-level metallurgical testing, to complete open pit geotechnical investigations and to provide further resource definition. Two of three drills have been mobilized to the project site since drilling began on June 15. In April 2011, a 'Project Description' for the Sisson Project submitted to the Canadian Environmental Assessment Office was formally accepted to initiate a project review under the Canadian Environmental Assessment Act. Environmental Impact Assessment (EIA) guidelines for the project had previously been issued by the Province of New Brunswick in March 2009. Terms of Reference (ToR) for an EIA to meet both federal and provincial permitting requirements are currently being developed through a joint federal-provincial Technical Review Committee. Public, stakeholder and First Nations consultation on the draft ToR are planned for in August/September 2011, prior to final approval by the two levels of government. Additionally, comprehensive environmental baseline studies are currently underway at the Sisson property to guide project design and support development of an EIA for public and regulatory review. Northcliff's joint venture partner Geodex Minerals Ltd. ("Geodex") initiated studies including climate, surface water hydrology and water quality monitoring programs in 2008 and these are continuing in 2011. Additional environmental studies initiated this year include air quality, water resources, environmental geochemistry, terrestrial and aquatic habitats, fish and wildlife, wetlands, land and resource uses, heritage resources, socioeconomics, and land and resource uses for traditional purposes by Aboriginal communities. Finally, Northcliff has initiated a broad-based and ongoing program of engagement and consultation with local communities, First Nations, governments and other land and resource interests. The program's objective is to engage community and First Nations' interests in the process by which the Sisson Project is being designed and reviewed, to address local priorities and concerns through project design, and to maximize project benefits for local people. Northcliff recently completed a $28 million equity financing and a public listing on the TSX Venture Exchange (symbol TSX-V: NCF). The Company's Board of Directors has approved a budget for completion of the Feasibility Study for the Sisson Project, and confirmed that Northcliff is well funded through a construction decision and into early site preparation work. Under the current work program, the Company expects to invest $17 million in the project by the first quarter of 2012, and thereby satisfy its earn-in obligations to secure its 70% interest in the Sisson Project. Geodex will retain the 30% ownership balance. "The medium and long-term outlook for the global tungsten market is very robust and presents a tremendous opportunity for an advanced stage project like Sisson," Zahovskis confirmed. "We intend to advance this project methodically and efficiently by completing a Feasibility Study and a thorough assessment of environment and socioeconomic effects over the next 15 months. Our goal is to define a technically and financially robust project that meets the rigorous environmental standards of New Brunswick and Canada, while addressing both the priorities and concerns of local people. We are confident that we will achieve a positive outcome in all of these areas, establishing a project that provides substantive benefits to the region and the province." The Sisson Project is an advanced stage mineral development project with excellent potential for near term production of tungsten and molybdenum. Its location near roads, rail and tidewater on the eastern seaboard of North America provides Sisson with key logistical advantages over its peer group. New Brunswick is a stable jurisdiction with a long tradition of mineral and resource development, and a well-established regulatory system. By advancing Sisson, Northcliff and Geodex will become one of North America's first major tungsten producers, greatly increasing supply to North American and European markets in which demand far outstrips supply. About Northcliff Northcliff is a mineral resource company, associated with Hunter Dickinson Inc. (HDI), and is focused on progressing the feasibility-stage Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production. Northcliff has acquired a 70% interest in the Sisson Project from Geodex, subject to investing up to $17 million in exploration, feasibility and project costs. About HDI HDI is a diversified, global mine development company with a 25-year history of mineral development success HDI's track record includes successful advancement of large-scale, high-volume open pit mines in Canada. For further details on Northcliff and the Sisson Project, please visit www.northcliffresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114. Christopher Zahovskis President & CEO | ||||||