Boss Power Corp.
TSX VENTURE : BPU

Boss Power Corp.

November 29, 2010 11:27 ET

Boss Power Provides Update on Progress of Company's Lawsuit Against Province of B.C.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 29, 2010) - Boss Power Corp. (TSX VENTURE:BPU) is pleased to provide an update on the progress of the Company's lawsuit in the Supreme Court of British Columbia against the Province of British Columbia with regard to the Blizzard Uranium Property.

On October 16th, 2008, the Company filed a statement of claim in the Supreme Court of British Columbia alleging that the Province had, by imposing a Uranium and Thorium Reserve under the Mineral Tenure Act, prevented the company from exploring for or producing uranium or thorium from the Blizzard Uranium Property and that the Province had expropriated the Company's interest in the Property. The Statement of Claim sought damages and compensation for the expropriated property.

As a result of ongoing pre-trial investigations legal counsel acting on behalf of the Company applied to amend the Statement of Claim to add an additional claim against the Province for Misfeasance of Public Office. This new claim was premised, in part, on the fact that the Province refused to process the Company's Notice of Work applications in a timely fashion and thereby prevented the Company from completing exploration work that may have then warranted application being made to the Federal Government for the development of a mine on the Blizzard site. The damage from this refusal to process the Company's permits was reinforced by an Order in Council issued by the Province on March 12th, 2009 which prohibited the Chief Inspector of Mines from issuing work permits in respect of uranium and thorium.

The Province opposed the application to amend the original action in the Supreme Court of British Columbia. A hearing was held and the Court approved the amendment adding the claim of Misfeasance in Public Office. The amended civil action was filed in early September 2010.

In a subsequent court proceeding on October 28th and 29th, 2010 the Province brought an application in British Columbia Supreme Court attempting to have the Boss Power claim and action against the Province dismissed on a summary application. In a written judgment dated November 23rd, 2010, the Court dismissed the Province's application. In addition to dismissing the Province's application, the court ordered the Province to pay Boss Power's legal costs for responding to the application.

Boss Power Corp.'s President and CEO Randy Rogers noted: "We continue to seek compensation for the damages suffered by the Company from both the expropriation of the Blizzard Uranium Property in 2008 and the conduct of certain officials in failing to deal with our exploration permits. The trial will proceed in this matter in early 2011."

On Behalf of the Board of Directors

BOSS POWER CORP.

Randy Rogers, M.Sc., P.Geol., President & CEO

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Boss Power Corp.
    Randy Rogers, M.Sc., P.Geol.
    President & CEO
    250-558-8952
    r.rogers@bosspower.ca
    or
    Boss Power Corp.
    Tony Perri
    Investor Relations, Manager
    604-688-8115
    www.bosspower.ca