Dalradian Resources Inc.

Dalradian Resources Inc.

December 03, 2014 03:00 ET

Dalradian Commences Trading on the AIM market of the London Stock Exchange

TORONTO, ONTARIO--(Marketwired - Dec. 3, 2014) - Dalradian Resources Inc. (TSX:DNA)(AIM:DALR) ("Dalradian" or the "Company") is pleased to announce the Company's common shares have been admitted to trading on the AIM market of the London Stock Exchange (LSE) and that dealings commenced at 8.00am (UK time) today, under the ticker code DALR.

The admission to AIM is in addition to the Company's existing listing on the Toronto Stock Exchange and is part of a strategy to grow the business and make it more accessible to investors in the UK, Ireland and Europe. Dalradian's operations are in Northern Ireland where the Company is advancing a pre-feasibility study and other pre-productions studies at its high-grade gold deposit, Curraghinalt.

Patrick F.N. Anderson, Dalradian's CEO, commented:

"Dalradian's listing on the AIM market of the London Stock Exchange is the next and proper step in the evolution of the company. This listing provides easier access for local investors who want to join us in developing a modern and responsible gold mining industry in Northern Ireland."

In 2014, Dalradian raised £22 million through fundraising on the Toronto Stock Exchange to carry out an underground exploration programme, a pre-feasibility study and an environmental impact assessment at the Curraghinalt gold deposit. Since commencing work on the project in 2010, Dalradian has raised more than £60 million; has completed 50,000 metres of drilling, three resource updates, two scoping studies; and has grown the size of the deposit six-fold.

As a result of this work, in 2012, Curraghinalt was ranked 7th highest by grade of more than 500 undeveloped deposits globally. The deposit remains open and can grow in size, as the vein system continues beyond the scope of completed drilling.

The most recent Curraghinalt scoping study (or Preliminary Economic Assessment), completed in October 2014 by the independent mining engineering firm Micon International Limited of Toronto, shows an Internal Rate of Return on the proposed mine, after tax and royalties, of 36.2% based on a gold price of US$1,200 per ounce and an average mined grade of 9.3 g/t gold. In this study, Curraghinalt will produce an average of 194,000 ounces of gold per year for the first five years of operations and an average of 162,000 ounces of gold per year over the 18 year mine life. Mineral resources which are not mineral reserves do not have demonstrated economic viability. Dalradian's NI 43-101 report is dated October 30, 2014, entitled "An Updated Preliminary Economic Assessment of the Curraghinalt Gold Deposit, Tyrone Project, Northern Ireland", was prepared by Messrs. Jacobs, Gowans, Villeneuve and Foo of Micon International Ltd. and Mr. Maunula of T. Maunula & Associates Consulting Inc., and is available on SEDAR at www.sedar.com.

Canaccord Genuity is acting as Nominated Adviser and Broker to the Company.

About Dalradian

Dalradian Resources Inc. is a Canadian incorporated gold exploration and development company that is focused on advancing its Curraghinalt Gold Project located in Northern Ireland, United Kingdom. The Company has commenced a work program with a fully-funded budget of approximately C$30 million and the goal of completing a pre-feasibility study in support of a planning application for construction of an operating mine at Curraghinalt. Components of the program include underground exploration, which incorporates approximately 1,200 metres of development and 20,000 metres of underground drilling, a pre-feasibility study and an environmental impact assessment.


This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, test work and confirming results from work performed to date, estimation of mineral resources and the realization of the expected economics 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, such as continued political stability in Northern Ireland, that permits required for the Company's operations will be obtained in a timely basis in order to permit the Company to proceed on schedule with its planned development and exploration programs, that skilled personnel and contractors will be available as the Company's operations continue to grow, that the price of gold will be at levels that render the Company's mineral project economic, that the Company will be able to continue raising the necessary capital to finance its operations and realize on mineral resource estimates, and that the assumptions contained in the PEA are accurate and complete.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; actual results of reclamation activities; conclusions of economic evaluations; meeting various expected cost estimates; changes in project parameters as plans continue to be refined; future prices of metals; possible variations of mineral grade or recovery rates; 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.

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 news 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.

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