MONTREAL, QUEBEC--(Marketwire - Aug. 29, 2011) -Critical Elements Corporation(TSX VENTURE:CRE)(OTCQX:CRECF)(FRANKFURT:F12) ("Critical Elements") andBlue Note Mining Inc. (TSX VENTURE:BNT) ("Blue Note") report that BlueNote has resumed a 3,000 meter diamond drill program at the Croinor GoldProject located near Val-d'Or, Quebec.
Blue Note is also in the process of updating the MineralResources and Mineral Reserves for Croinor that were previouslyestimated in 2009 to include the results from the 2010 and 2011 drillingcampaigns. The 2009 Mineral Resource estimate totalled 814,228 tonnes(measured and indicated) grading 9.11 g/t gold with a cut-off grade of5.0 g/t. Based on a positive prefeasibility study completed in 2010,Mineral Reserves were reported at 689,829 tonnes (proven and probable)grading 8.35 g/t gold for a total of 185,260 ounces of mineable gold(see NI43-101 compliant technical reports prepared September 2009,August 2010 and revised on June 2011 available at www.sedar.ca).
In 2010 and 2011, there have been 12,744 meters of additionaldrilling completed in 49 exploration diamond drill holes at Croinor.The recent exploration drill programs have focused both on extendingmineralized lenses in the immediate area of the current Mineral Reservesas well as testing along strike to the east and west of the deposit andat depth, with positive results obtained in all areas of the programs(see press releases dated September 8, 2010, October 18, 2010, November11, 2010, April 26, 2011, May 18, 2011 and August 25, 2011).
A wireframe model of the mineralized lenses is now beingconstructed which will lead to a computer generated block model and anew Mineral Resource estimate. Upon completion, the prefeasibility studywill be updated which will include an updated Mineral Reserve.
InnovExplo, a Val-d'Or based consulting firm, is preparingthe geological model of the Croinor deposit and will be preparing theupdated Mineral Resources and Mineral Reserves estimate andprefeasibility study. The current diamond drilling is being carried outby Forages La Virole and supervised by InnovExplo personnel under CarlPelletier P.Geo., a qualified and independent person as defined under NI43-101 guidelines.
Stephane Dubois, P.Eng., Vice President, Operations for BlueNote Mining Inc. is a Qualified Person as defined under NI 43-101guidelines and has reviewed the technical information contained in thisrelease.
About Critical Elements Corporation
Critical Elements is actively developing its 100%-owned Roselithium-tantalum flagship project located in Quebec. The project hosts acurrent new NI 43-101 compliant Indicated resource of26.5 million tonnes of 1.30% Li2O Eq. or 0.98% Li2O and 163 ppm Ta2O5and Inferred resource of 10.7 million tonnes of 1.14% Li2O Eq. or 0.86% Li2O and 145 ppm Ta2O5.
Critical Elements has commissioned a prefeasibility study forthe project from Genivar, one of the largest independent engineeringfirms in Canada. Genivar is also doing an environmental study, and AcmeMetallurgical Ltd. of Vancouver is carrying out project metallurgy.
Critical Elements' portfolio also includes rare-earth andtantalum-niobium projects in the Rocky Mountains of British Columbia andin Quebec, as well as a 50% interest in the Croinor project, which islocated in Quebec and hosts a current NI 43-101 compliant measured andindicated resource of 814,228 tonnes at 9.11 g/t Au, for 238,414 ouncesof gold at a 5 g/t cut-off.
About Blue Note Mining
Blue Note Mining is a mineral exploration and mining companyheadquartered in Montreal with properties located in known gold regionsof Canada, including the prolific Val-d'Or region of Quebec and northernNew Brunswick.
Forward-Looking Statements
This news release contains discussion of items that mayconstitute forward-looking statements within the meaning of securitieslaws that involve risks and uncertainties. Although the Company believesthe expectations reflected in such forward-looking statements are basedon reasonable assumptions, it can give no assurances that itsexpectations will be achieved. Factors that could cause actual resultsto differ materially from expectations include the effects of generaleconomic conditions, actions by government authorities, uncertaintiesassociated with contract negotiations, additional financingrequirements, market acceptance of the Company's products andcompetitive pressures. These factors and others are more fully discussedin Company filings with Canadian securities regulatory authorities.
Neither the TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policies ofthe TSX Venture Exchange) accepts responsibility for the adequacy oraccuracy of this release.