VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 12, 2014) - Green Standard Vanadium Resources Corp.("Green Standard" or the "Company") (CSE:GVM) announces that as a result of a recent review by the British Columbia Securities Commission ("BCSC"), the Company is issuing the following news release to clarify its scientific and technical disclosures.
NI 43-101 Technical Report
The technical report on the Kongshan Vanadium Property dated February 12, 2013 in support of the disclosure of mineral resources on the Kongshan Property is not compliant with National Instrument 43-101 ("NI 43-101"). Therefore, the disclosed mineral resources stated in the technical report dated February 12, 2013, and also in the Company's MD&A dated April 30, 2014, are not considered compliant and should not be relied upon. The Company has filed an amended NI 43-101 technical report, dated February 12, 2013 and amended July 14, 2014, with the BCSC and on SEDAR that addresses these deficiencies.
Additional Technical Disclosure
The Company wishes to clarify disclosure in its February 11, 2014 news release. Planned mining and expanded processing activities with respect to the Kongshan Property as disclosed in the February 11, 2014 news release are proceeding without Preliminary Feasibility Studies or Feasibility Studies as those terms are defined by NI 43-101. The Company wishes to clarify there are no current reserves as defined by NI 43-101 on the Kongshan Property. Therefore investors are cautioned that the economic and technical viability of the project are more uncertain and there is more risk associated with these activities than would otherwise be expected.
The scientific and technical information in this news release has been reviewed and approved by Peter G. Folk, P. Eng., an Independent Qualified Person as defined in NI 43-101.
About Green Standard Vanadium Resources Corp.
Green Standard, through its wholly-owned holding companies Seymour Metal Holding Inc. and Vanadium Resources Limited, holds a controlling 90% equity interest in Xichuan Vanadium Resources Co., Ltd., ("Xichuan Vanadium"), located in Henan Province, China. Xichuan Vanadium is in the business of acquiring, exploring, developing and mining of mineral properties with a focus on vanadium properties, as well as processing of vanadium products at its processing plant. Xichuan Vanadium holds a mining license to the Kongshan vanadium property. Green Standard's common shares are traded on the CSE under the symbol "GVM".
Certain information regarding Green Standard contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. The Company cautions that actual performance will be affected by a number of factors, many of which are beyond the Company's control, and that future events and results may vary substantially from what the Company currently foresees. The Company assumes no obligation to update such forward-looking statements, except as required by applicable securities laws or exchange regulations. The Company's forward-looking statements are expressly qualified in their entirety by this cautionary statement. The Company seeks safe harbour.
Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of CSE) accepts responsibility for the adequacy or accuracy of this release.