Clifton Star Resources Inc.

Clifton Star Resources Inc.

December 09, 2014 08:30 ET

Clifton Star Receives $2.76 million in Quebec Tax Credits

QUEBEC CITY, QUEBEC--(Marketwired - Dec. 9, 2014) - Clifton Star Resources Inc. ("Clifton Star" or the "Corporation") (TSX VENTURE:CFO)(FRANKFURT:C3T) is pleased to announce that it has received the 2014 Quebec exploration tax credit in the amount of $318,443 it had claimed in the course of its normal 2014 tax reporting obligations, and it also received $2,445,115 for the Quebec exploration tax credit for 2009.

A thorough Tax review identified valid tax credits for 2009. An amended Quebec income tax report was filed. Discussions over the last year and a meeting with the tax authorities resulted in the issue of a credit of $2,445,115, including interest.

Clifton Star has cash on hand of $3.5 million at this time.

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All other information previously released on Duparquet is also available on Clifton Star's website at

Neither the TSX Venture Exchange nor its Regulations Services Provider (as the term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement on Forward Looking Information

Certain information included in this press release, including any information as to our future exploration, financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. The words 'expect', 'believe', 'will', 'intend', 'estimate' and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies, including the possibility that drill programs will not yield the expected results. The Company cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of Clifton Star Resources to be materially different from the Company's estimated future results, performance or achievements expressed or implied by those forward-looking statements and that the forward-looking statements are not guarantees of future performance. These statements are also based on certain factors and assumptions. For more details on these estimates, risks, assumptions and factors, see the Company's most recent Form 20-F/Annual Information Form on file with the U.S. Securities and Exchange Commission and Canadian provincial securities regulatory authorities. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except as expressly required by law. Readers are cautioned not to put undue reliance on these forward-looking statements.

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