TORONTO, Sept. 04, 2018 (GLOBE NEWSWIRE) -- Dalradian Resources Inc. (TSX: DNA/AIM: DALR) (“Dalradian” or the
“Company”) is pleased to announce that it has received a final order from the Ontario Superior Court of Justice (Commercial List)
approving the previously announced plan of arrangement (the “Transaction”) with certain affiliates of Orion Mine Finance (“Orion”).
The Transaction provides for the acquisition by an affiliate of Orion of the issued and outstanding common
shares of the Company (“Dalradian Shares”) by way of a statutory plan of arrangement under the Business Corporations Act
(Ontario), other than Dalradian Shares owned by Orion or its affiliates, and by Sean Roosen, Osisko Gold Royalties Ltd and certain
members of Dalradian’s senior management team (collectively, the “Remaining Shareholders”). Each Dalradian shareholder (other than
the Remaining Shareholders) will receive cash consideration of C$1.47 for each Dalradian Share held.
Subject to obtaining all required approvals and satisfying all required conditions, the Transaction is expected
to close on or about September 7, 2018. Following closing of the Transaction, Dalradian Shares will be de-listed from the Toronto
Stock Exchange and the admission of the Dalradian Shares to trading on AIM will be cancelled. If the Transaction closes on
September 7, 2018, it is expected that the last day of dealings on AIM in Dalradian Shares will be September 7, 2018 and the
Dalradian Shares will be cancelled from admission to trading on AIM by 8:00 a.m. (UK time) on September 10, 2018, being the date
that is the trading day after the closing date.
About Dalradian Resources Inc.
Dalradian Resources Inc. is a mineral exploration and development company that is focused on advancing its
high-grade Curraghinalt Gold Project located in Northern Ireland, United Kingdom. The Curraghinalt Project is in permitting, with
various technical studies ongoing to build on the positive feasibility study released in January 2017.
For more information:
Marla Gale
Vice President Communications
+1 416 583 5600
investor@dalradian.com
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett / Richard Tonthat / Harrison Clark
+44 (0)20 7383 5100
Numis Securities Limited (Broker)
John Prior / James Black / Paul Gillam
+44 (0)20 7260 1000
FORWARD LOOKING STATEMENTS
This press release contains “forward-looking information” which may include, but is not limited to, statements
with respect to anticipated timing for completion of the Transaction and delisting from both the TSX and AIM, the delivery of an
updated feasibility study and an updated technical report, future financial or operating performance of the Company and its
subsidiaries and its mineral project, the future price of metals, test work and confirming results from work performed to date, the
estimation of mineral resources and mineral reserves, the realization of mineral resource and mineral reserve estimates, the timing
and amount of estimated future production, costs of production, capital, operating and exploration expenditures, costs and timing
of the development of new deposits, costs and timing of future exploration, requirements for additional capital, government
regulation of mining operations, environmental risks, reclamation expenses, title disputes or claims, limitations of insurance
coverage, the timing and possible outcome of pending regulatory matters and the realization of the expected production, economics
and mine life of the Curraghinalt gold deposit.
Often, but not always, forward-looking statements can be identified by the use of words and phrases such as
“plans,” “expects,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates,” or “believes” or
variations (including negative variations) 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.
Forward-looking statements are based on the opinions and estimates of management as of the date such statements
are made and are based on various assumptions that management believes are reasonable, such as the receipt of all shareholder and
regulatory approvals, no undue delays with respect to the Transaction, effects of general economic conditions, changing foreign
exchange rates and actions by government authorities, continued political stability in Northern Ireland, that permits required for
Dalradian’s operations will be obtained in a timely basis in order to permit Dalradian to proceed on schedule with its planned
exploration and mine development, construction and production programs, that a permitting application for mine construction will be
approved, that skilled personnel and contractors will be available as Dalradian’s operations commence and continue to grow towards
production and mining operations, that the price of gold will be at levels that render the Dalradian’s mineral project economic,
and that the necessary capital will be available to finance Dalradian’s operations and realize on mineral resource and mineral
reserve estimates and current mine plans.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of Dalradian to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements. Such factors include, among others, the risk that the required
Dalradian shareholder approval or necessary court approvals may not be obtained in connection with the Transaction, uncertainties
associated with negotiations, misjudgments in the course of preparing forward-looking information, the Transaction may not close
when planned or at all or on the terms and conditions set forth in the Arrangement Agreement, the benefits expected from the
Transaction not being realized, risks related to the integration of acquisitions, general business, economic, competitive,
political and social uncertainties; legal challenges to permits or permitting applications; the actual results of current and
future exploration activities; the actual results of reclamation activities; conclusions of economic evaluations; meeting various
expected cost estimates; changes in project parameters and/or economic assessments as plans continue to be refined; future prices
of metals; possible variations of mineral grade or recovery rates; the risk that actual costs may exceed estimated costs; failure
of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry;
political instability; delays in obtaining governmental approvals or financing or in the completion of development or construction
activities, as well as those factors discussed in the section entitled “Risk Factors” in the Company’s Annual Information Form for
the year ended December 31, 2017 dated March 15, 2018.
Although the Company 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 to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as
of the date of this press release and the Company disclaims any obligation to update any forward-looking statements, whether as a
result of new information, future events or results, except as may be required by applicable securities laws. 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.
