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. | |