Nitinat Minerals Corporation
TSX VENTURE : NZZ

Nitinat Minerals Corporation

April 14, 2014 15:51 ET

Nitinat Clarifies Ownership of Techniton LLC

TORONTO, ONTARIO--(Marketwired - April 14, 2014) - Nitinat Minerals Corporation (TSX VENTURE:NZZ) ("Nitinat" or the "Corporation") would like to clarify its share ownership of Techniton LLC through its wholly owned subsidiary Taman Petroleum Corporation ("Taman").

Contrary to the assertions made by Galahad Metals Inc. in its press release dated April 9, 2014 whereby Galahad announced its agreement to purchase 60% of Arax Energy Inc. ("Arax"), the Corporation has not pledged its securities in Techniton to Arax and is not aware of any such arrangement. In 2013, the Corporation advanced $300,00 to Techniton for the payment of certain expenses. The Corporation is entitled to vote its securities of Techniton and to receive any and all dividends as and when declared by Techniton.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

This press release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporation's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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