No Change to Report Conclusions or Economics
Northisle Copper and Gold Inc. (TSX-V: NCX) (“Northisle” or the “Company”) announces that it has filed an amended technical report dated June 8, 2022 titled “North Island Copper and Gold Project – Form 43-101F1 Technical Report – Preliminary Economic Assessment” (the “Amended Technical Report”) and an amended annual information form for the year ended December 31, 2021 (“Amended AIF”) following a voluntary disclosure review completed by the British Columbia Securities Commission (the “BCSC”) at the request of the Company.
The Amended Technical Report and Amended AIF do not contain any changes to the disclosed mineral resource estimates or the conclusions of the economic analysis for the North Island Project. Changes were focused on, among other things, clarifying certain details and supporting information, as well as reorganizing existing content to better align with the requirements of NI43-101.
Technical Report and Qualified Persons
An amended National Instrument 43-101 (NI 43-101) technical report entitled “North Island Project PEA” prepared by the following Qualified Persons has been filed by the Company on www.sedar.com:
- Laurie Tahija, MMSA – M3 Engineering – Recovery Methods and Process Operating Costs
- Daniel Roth, P.Eng. – M3 Engineering – Project Plant and Infrastructure Costs, Economic Analysis
- Brian Game, P. Geo. – Principal of GeoMinEx Consultants – Geology, Data Verification, Exploration and Environmental
- Phil Burt, P. Geo. – CEO of Burt Consulting Services – Mineral Resource Estimates, Data Verification
- John Nilsson, P. Eng. – Mining Methods
- Ben Wickland, P.Eng. of Golder Associates Ltd. – Mine Waste Facility
The Qualified Persons have reviewed and approved the scientific, technical, and economic information contained in this news release.
About Northisle
Northisle Copper and Gold Inc. is a Vancouver-based company whose mission is to become a leading and sustainable mineral resource company for the future. Northisle owns the North Island Project, which is one of the most promising copper and gold porphyry deposits in Canada. The North Island Project is located near Port Hardy, British Columbia on a 33,149-hectare block of mineral titles 100% owned by Northisle stretching 50 kilometres northwest from the now closed Island Copper Mine operated by BHP Billiton. Northisle recently completed an updated preliminary economic assessment for the North Island Project and is now focused on advancement of the project through a prefeasibility study while continuing exploration within this highly prospective land package.
For more information on Northisle please visit the Company’s website at www.northisle.ca.
On behalf of Northisle Copper and Gold Inc.
Nicholas Van Dyk, CFA
Chief Financial Officer
Tel: (778) 655-9582
Email: info@northisle.ca
www.northisle.ca
Cautionary Statements regarding Forward-Looking Information
Certain information in this news release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “intend” and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements relating to the 2021 PEA results, as amended, the Company’s plans for advancement of the North Island Project, and the Company’s anticipated exploration activities. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, Northisle’s ability to implement its business strategies; risks associated with mineral exploration and production; risks associated with general economic conditions; adverse industry events; stakeholder engagement; marketing and transportation costs; loss of markets; volatility of commodity prices; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; industry and government regulation; changes in legislation, income tax and regulatory matters; competition; currency and interest rate fluctuations; and other risks. The preliminary economic assessment is preliminary in nature in that it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized. Readers are cautioned that the foregoing list is not exhaustive.
Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this news release represent the expectations of management of Northisle as of the date of this news release, and, accordingly, are subject to change after such date. Northisle does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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