ZUG, Switzerland, Aug. 16, 2017 /CNW/ - Katanga Mining
Limited (TSX: KAT) ("Katanga" or the "Company") today announced that its previously disclosed
application for a management cease trade order ("MCTO") under National Policy 12-203 ("NP 12-203") has been
approved by the Ontario Securities Commission ("OSC"). The MCTO prohibits the directors and executive officers of
the Company from trading in or acquiring securities of the Company until two full business days after the Company's 2017 second
quarter filings and previously disclosed restated financial statements and related management's discussion and analysis
("MD&A") are filed. The MCTO does not affect the ability of other persons to trade in the common shares of the
Company.
As previously disclosed, the Company intends to satisfy the provisions of the "alternative information guidelines" as set out
in NP 12-203, including the requirement to file bi-weekly status reports in the form of news releases containing prescribed
updating information, until the Company's 2017 second quarter filings and restated financial statements and MD&A are
filed.
About Katanga Mining Limited
Katanga Mining Limited operates a major mine complex in the Democratic Republic of
Congo producing refined copper and cobalt. The Company has the potential to become Africa's largest copper producer and the world's largest cobalt producer. Katanga is listed on the Toronto
Stock Exchange under the symbol KAT.
Forward Looking Statements
This press release may contain forward-looking statements. Often, but not always, forward-looking statements can be
identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or describes a "goal", or variation
of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken,
occur or be achieved.
All forward-looking statements reflect the Company's beliefs and assumptions based on information available at the time the
statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the
Company's forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking
statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this
list is not exhaustive of factors that may affect any of the forward-looking statements. The key assumptions that have been made
in connection with the forward-looking statements include the following: the length of the delay in filing the 2017 second
quarter filings, the expected timing of completion of the restatement of the Company's historical financial statements, the
maintenance by the OSC of an MCTO rather than a full cease trade order or any other action to be taken by securities regulatory
authorities in light of the review of the Company's historical accounting, the operations of the Company during the production
suspension and timeline for the recommencement of operations remaining consistent with management's expectations, there being no
significant disruptions affecting the operations of the Company whether due to labour disruptions, supply disruptions, power
disruptions, rollout of new equipment, damage to equipment or otherwise; permitting, development, operations, expansion and
acquisitions at the Project being consistent with the Company's current expectations; continued recognition of the Company's
mining concessions and other assets, rights, titles and interests in the DRC; political and legal developments in the DRC being
consistent with its current expectations; the continued provision or procurement of additional funding from Glencore for
operations, the completion of the T17 Underground Mine, the WOL Project and the Power Project (as defined in the Company's Annual
Information Form for the year ended December 31, 2016 dated March 31,
2017); new equipment performs to expectations; the exchange rate between the US dollar, South African rand, British
pounds, Canadian dollar, Swiss franc, Congolese franc and Euro being approximately consistent with current levels; certain price
assumptions for copper and cobalt; prices for diesel, natural gas, fuel oil, electricity and other key supplies being
approximately consistent with current levels; production, operating expenses and cost of sales forecasts for the Company meeting
expectations; the accuracy of the current ore reserve and mineral resource estimates of the Company (including but not limited to
ore tonnage and ore grade estimates); and labour and material costs increasing on a basis consistent with the Company's current
expectations.
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors
which may cause the actual results, performance or achievements to be materially different from any future results, prediction,
projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include,
among others, unfavourable conclusions of the Independent Directors' review, unforeseen action taken by the OSC or
other securities regulatory authorities, the unforeseen delays or changes to the WOL Project; actual results of current
exploration activities; actual results and interpretation of current reclamation activities; conclusions of economic evaluations;
changes in project parameters as plans continue to be refined; future prices of copper and cobalt; possible variations in ore
grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and
other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration,
development or construction activities, delays due to strikes or other work stoppage, both internal and external to the Company
as well as those factors disclosed in the Company's current annual information form and other publicly filed documents. Although
Katanga has attempted to identify important factors that could cause actual actions, events or results to differ materially from
those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking statements.
The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of
new information, future events, or otherwise, except in accordance with applicable securities laws.
SOURCE Katanga Mining Limited
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