DOT Resources Ltd.
TSX VENTURE : DOT

DOT Resources Ltd.

December 30, 2010 08:00 ET

DOT Resources Announces Updated NI 43-101 Technical Resource Report Filed For DOT

CALGARY, ALBERTA--(Marketwire - Dec. 30, 2010) - DOT Resources Ltd. (TSX VENTURE:DOT) ("DOT" or the "Corporation") announces that an updated independent National Instrument ("NI") 43-101 compliant mineral resource estimation ("Mineral Resource Estimate") has been filed on the System for Electronic Document Analysis and Retrieval ("SEDAR") in respect of DOT's 100% owned copper porphyry property (the "Property") located 17 kilometres south of the Highland Valley copper porphyry district in Central British Columbia, Canada.

The report entitled, "Technical Report On A Diamond Drill Program And Mineral Resource Estimate For DOT Resources Ltd's Dot Property" (the "Aurora Report"), dated November 30, 2010, was prepared by Aurora Geosciences Limited ("Aurora") and complies with NI 43-101 and the Canadian Institute of Mining ("CIM") standards for reporting mineral resources (see DOT News Release dated December 1, 2010). A full copy of the Aurora Report can be obtained directly from DOT, or the Corporation's website at www.dotresourcesltd.com, or the Corporation's profile on SEDAR at www.sedar.com.

Following are a number of highlights of the Aurora Report:

  • at a 0.20% copper cut-off, the estimated indicated resource was 5.33 million tonnes grading 0.45% copper, 3.28 g/t silver, 0.05 g/t gold and 0.006% molybdenum representing a 19% increase relative to the previous NI 43-101 Mineral Resource dated June 22, 2009), and
  • at a 0.20% copper cut-off, the estimated inferred resource was 4.28 million tonnes grading 0.46% copper, 1.99 g/t silver, 0.02 g/t gold and 0.004% molybdenum representing a 79% increase relative to the previous NI 43-101 Mineral Resource dated June 22, 2009), and
  • the five zones of mineralization included in the resource estimate are open along strike and down dip.

The Aurora Report makes various recommendations for further exploration of the Property, including trenching, metallurgical testing on the sulphide mineralization, geophysical surveying by Induced Polarization ("IP") of a large portion of the property and further diamond drilling to better understand the IP anomalies and to determine the extent of mineralized zones located to date.

These recommendations are currently being reviewed with the objective of incorporating them into a 2011 exploration program. That program will be announced once finalized.

John J. Komarnicki, Chairman and CEO of DOT stated, "Management is very encouraged with the exploration potential revealed in the Dot Property to date. The significant increase in resources was achieved with a limited amount of diamond drilling indicating the substantial potential of the property. Our 2011 exploration program will focus on expanding the resource base through further geophysical exploration and diamond drilling. We look forward to proceeding with the next phase of exploration activities by the third quarter of 2011".

CAUTIONARY NOTE CONCERNING RESERVE AND RESOURCE ESTIMATES

This news release and other information released by DOT uses the terms "resources", "indicated resources" and "inferred resources". United States investors are advised that, while such terms are recognized and required by Canadian securities laws, the United States Securities and Exchange Commission (the "SEC") does not recognize them. Under United States standards, mineralization may not be classified as a "reserve" unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time a reserve determination is made. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

United States investors are cautioned not to assume that all or any part of Indicated resources will ever be converted into reserves. Inferred resources are in addition to Indicated resources. Inferred resources have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically. It cannot be assumed that all or any part of an inferred resource will ever be upgraded to a higher category. United States investors are cautioned not to assume that all or any part of an inferred resource exist, or that it can be mined economically.

NI 43-101 is a national instrument developed by the Canadian Securities Administrators, which established standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Unless otherwise indicated, all resource estimates contained in this press release or released by DOT in the future, have been or will be prepared in accordance with NI 43-101 and the CIM and Petroleum Classification System. The requirements of NI 43-101 are not the same as those of the SEC.

ABOUT DOT

DOT is a Canadian corporation focused on the exploration and development of its copper porphyry property in central British Columbia. DOT is planning to assess additional copper and copper-gold properties for exploration and development opportunities throughout North and South America.

DOT owns a 4,800 acre, 100% controlled porphyry copper +/- molybdenum-gold-silver property located 17 kilometres south of the Highland Valley Mining District, in central British Columbia

The Corporation's common shares trade on the TSX Venture Exchange under the symbol DOT. DOT's website can be accessed at www.dotresourcesltd.com

Elmer B. Stewart, MSc., P. Geol., DOT's Qualified Person as defined by NI 43-101 has reviewed and verified the technical information contained in this news release.

Forward-Looking Statements

Certain statements contained in this news release constitute "forward-looking statements" as such term is used in applicable Canadian and United States laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. In particular, any statements concerning the timing, content and success of future exploration or geophysical survey or the ability to obtain funding to complete same and other factors and events described in this news release should be viewed as forward-looking statements to the extent that they involve estimates thereof. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as "forward-looking statements". Such forward-looking statements, including but not limited to, the amount of estimated resources, future exploration programs, the Corporation's liquidity and financial capacity, the Corporation's funding sources to meet various obligations and other factors and events described in this document, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, exploration results, the timing of future diamond drilling, geophysical survey results, the availability of capital to fund exploration activities and the resulting dilution caused by the raising of capital through the sale of shares, the effects of a recessionary economy and such other business risks as discussed herein and other publicly filed disclosure documents. Although the Corporation 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 is no certainty that additional exploration will locate additional resources and that there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release.

Forward-looking statements are made based on management's beliefs, assumptions, estimates and opinions on the date the statements are made and the Corporation undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.

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

Contact Information

  • DOT Resources Ltd.
    Ihor P. Wasylkiw
    Chief Information Officer
    +1 (403) 264-2647
    or
    DOT Resources Ltd.
    Don D. McKechnie
    Chief Financial Officer
    +1 (403) 264-2647
    www.dotresourcesltd.com