Hillsborough Resources Limited
TSX : HLB

Hillsborough Resources Limited

May 28, 2009 12:05 ET

Hillsborough Resources' Quinsam Mine Receives B.C. Mine Safety Award for 10th Consecutive Year

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 28, 2009) - Hillsborough Resources Limited (TSX:HLB) ("Corporation") is pleased to announce that the Corporation's Quinsam mine at Campbell River, B.C. has received the 2008 Mine Safety Award for Small Underground Mines. This is the 10th consecutive year that Quinsam has received the award, which is presented by the Government of British Columbia's Ministry of Energy, Mines and Petroleum Resources.

"This is a very prestigious award and is a testament to the uncompromised commitment to safety by the management and personnel of the Quinsam mine and the Board and management of Hillsborough Resources," stated David Slater, President and CEO of Hillsborough Resources. "I want to congratulate Quinsam for achieving this award for an unprecedented 10 years in a row. Quinsam has a long and stellar record in mine safety, which could only have been achieved with the full commitment of every employee at the mine."

The Mine Safety Awards have a long history, with 2008 being the 47th anniversary. Established in 1961 by the B.C. Minister of Mines and Petroleum Resources, the Small Underground Mine Award is awarded to the small underground mine with the lowest lost-time accident frequency.

Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information as to estimates, forecasts, future financial or operating performance of the Corporation, future production, costs of production, capital requirements, operating expenditures, reserve potential, exploration drilling, exploitation activities and activities and events or developments that we expect to occur. Often, but not always, forward-looking statements and information can be identified by the use of words such as "may", "will", "should", "plans", "expects", "intends", "anticipates", "believes", "budget", "forecasted" and "scheduled" or the negative thereof or variations thereon or similar terminology.

With respect to forward-looking statements and information contained herein, we have made numerous assumptions including among other things, assumptions about prices, anticipated costs and our ability to achieve our goals. In particular, our statements regarding future production expectation is based on current existing current resource/reserve estimates, production contracts in place, historical costs and mining conditions.

Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered by management to be reasonable and to be based on reasonable assumptions, are inherently subject to significant business, economic and competitive uncertainties and contingencies and involve known and unknown risks. Readers are cautioned that any such forward-looking statements and information are not guarantees and there can be no assurance that such statements and information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation's expectations include adverse exploration or development results; interruptions in the ability of the Corporation to produce coal from any of its mines; inability to meet production volumes required; adverse due diligence findings; re-assessments of corporate or development objectives and requirements; additional technical developments and considerations; unexpected increases in the costs of producing coal; changes in international coal or transportation markets; a rapid change in the value of the Canadian dollar particularly with respect to the US dollar; a fundamental slow down in the North American, Asian or worldwide economies; and other factors. See our recent annual information form and quarterly and annual management's discussion and analysis filed on SEDAR for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information.

Although we have identified factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements or information, there may be other factors that cause actual results, performance, achievements or events not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on the forward-looking statements or information. We expressly disclaim any intention or obligation to update or revise any forward-looking statements and information whether as a result of new information, future events or otherwise, except as required by law. All written and oral forward-looking statements and information attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements.

Contact Information

  • Hillsborough Resources Limited
    David Slater
    President & C.E.O.
    (604) 684-9288
    or
    Hillsborough Resources Limited
    Ian Kirk, C.A.
    C.F.O.
    (604) 684-9288
    (604) 684-3178 (FAX)
    www.hillsboroughresources.com