Crowflight Minerals Inc.
TSX : CML

Crowflight Minerals Inc.

August 05, 2009 11:30 ET

Crowflight Provides Bucko Mine Update

TORONTO, ONTARIO--(Marketwire - Aug. 5, 2009) - CROWFLIGHT MINERALS INC. ("Crowflight" or the "Company") (TSX:CML) today provided an operational update for the Bucko Lake Nickel Mine (Bucko) located near Wabowden, Manitoba.

During the month of July, a new water treatment facility was installed and commissioned at the Bucko Mine due to water issues that were encountered at the end of June. The new state-of-the-art water treatment plant utilizes microfiltration and reverse osmosis purification units. This installation is expected to allow Crowflight to maintain its water balance while complying with all environmental requirements.

Mill operations were halted during July due to a lack of available ore from the main production stope. Poor ground conditions in the stope entrance required the development of a new stope access drift so that mining operations could resume safely. The new access was successfully completed by the end of the month.

The mill resumed operation on August 4th, 2009 at a rate of 1,000 tonnes per day (tpd). A second stope is scheduled to begin production during the latter half of August, providing additional production flexibility. Commissioning of the new backfill system is scheduled for mid August. This system will be used to fill the mined out stopes and will enhance the continuity of mine production.

Pala Investment Holdings Limited's (Pala) recent strategic investment provides Crowflight with a strong financial partner going forward. Both Crowflight and Pala are committed to maximizing the potential of the Bucko Mine.

Crowflight Minerals - Canada's Newest Nickel Producer

Crowflight Minerals Inc. (TSX:CML) is a Canadian junior mining company that is producing nickel at the Bucko Lake Nickel Mine near Wabowden, Manitoba. Crowflight began full commercial production at Bucko in the second quarter of 2009. The Company is also focused on nickel, copper and Platinum Group Mineral (PGM) projects in the Thompson Nickel Belt and Sudbury Basin.

Cautionary Note on Forward-Looking Information

This press release contains forward-looking statements under Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the Company's development potential and timetable of the Company's properties, including the Bucko Lake Project; the future price of nickel and other minerals; the timing and amount of estimated future production; capital expenditures; mining or processing issues; and environmental risks. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements 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. Estimates regarding the anticipated timing, amount and cost of mining at the Bucko Lake Project are based on assumptions underlying mineral reserve and mineral resource estimates and the probability of realizing such estimates that are set out herein. Production estimates are based on mine plans and production schedules, which have been developed by the Company's personnel and independent consultants. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to risks related to: unexpected events and delays during production;; timing and availability of external financing on acceptable terms; changes in project parameters as plans continue to be refined; future prices of minerals, particularly nickel; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such 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 does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.

Further information is available on the Company's website at www.crowflight.com.

Total Shares Outstanding: 429.1MM

Fully Diluted: 542.3MM

52-Week Trading Range: C$0.09 - $0.39

Contact Information

  • Crowflight Minerals
    Mike Kelly
    President & CEO
    (416) 861-2266
    or
    Crowflight Minerals
    Heather Colpitts
    Manager, Investor and Public Relations
    (416) 861-5803
    info@crowflight.com