New Nadina Explorations Limited
Box 130, 1215 Greenwood Street
Greenwood BC V0H 1J0
Phone (250) 445 2260
Fax (250) 445 2259
June 28, 2019: GREENWOOD, BRITISH COLUMBIA – New Nadina Explorations Limited (the “Company”, TSX VENTURE: NNA) announces that Anthony Jewitt and William Meyer have resigned from the Board of Directors in order to pursue their individual endeavours. The Company thanks them for their past services and wishes them well for the future.
ON BEHALF OF THE BOARD
New Nadina Explorations Limited
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
May 2, 2019: GREENWOOD, BRITISH COLUMBIA – New Nadina Explorations Limited (the "Company", TSX VENTURE: NNA) wishes to announce that the Company has strengthened its management to better serve its shareholders and to facilitate an expanded exploration plan for the Silver Queen Project in Central British Columbia, and to assist in the management of our Monument Diamond Project in Lac de Gras, NWT.
• Change in Chief Financial Officer and Corporate Secretary
The Company is pleased to announce the appointment of Mr. Killian Ruby, CPA, CA, as Chief Financial Officer and Corporate Secretary of the Company. Mr. Ruby is the President & CEO of Malaspina Consultants Inc. in Vancouver and focuses on clients in the resource and junior public sector. Mr. Ruby advises clients on matters related to financial management and public company reporting and is particularly adept at handling complex issues and multiple stakeholders with a collaborative, team-based approach.
Prior to joining Malaspina, Mr. Ruby was an Assurance Partner at Wolrige Mahon LLP (now Baker Tilly Canada) working predominantly with resource and other junior public companies, and formerly was a Senior Manager with KPMG LLP working on a range of public companies and reporting issuers. He holds a BSc. (Accounting) from University College Cork, Ireland, a Post-Graduate Diploma in Corporate Treasury from Dublin City University, Ireland, and received his Chartered Accountant designations from Canada and Ireland in 2010 and 2002, respectively.
• Anthony Jewitt, B.A.Sc., will continue as a Director
Mr. Jewitt has more than 30 years’ of experience in engineering management within the information technology industry. As Vice President of big data solutions for Avalon, he leads a team of data scientists and data engineers who develop analytic applications for clients in many industries including natural resources, utilities, manufacturing and defense. Tony Jewitt holds a Bachelor of Science in Electrical and Computer Engineering from the University of Texas in Austin.
• John Jewitt, B.A.Sc., will continue as a Director, Chief Executive Officer (CEO) and President. He has over 50 years’ experience in the mining industry. He served as President of the Granby Mining Company Limited (NYSE) with copper mines in British Columbia and Vice President of Mines for Zapata Corporation (NYSE) with coal mines in West Virginia and Pennsylvania. He served successively as President of Chevron Exploration in Australia and Ireland, and as Manager of Chevron’s Collohausi Copper JV in Chile. He then served as Manager of International Project Development for Pegasus Gold, followed by VP Engineering for EuroZinc Mining on its Aljustrel copper and zinc projects in Portugal.
•William Meyer, P. Eng., will continue as a Director and serves on the Audit Committee. He has over 50 years’ experience in managing exploration projects and was previously VP Exploration for Teck Resource Corporation prior to opening a consulting practice.
• Courtney Shearer, B. Sc. (Eng.), MBA, CPA, CMA: will continue as a Director: He is currently a Partner in Larkspur Group, with extensive experience in the formation of start-up companies in Canada and financing projects through to successful production. He is Chairman of the Audit Committee.
• Peter Cooper, will continue as a Director: He has over 40 years’ experience in the mineral exploration and mining business, working primarily for major producers in Canada and the USA; including Noranda (Hemlo and Holloway Mines in Ontario) and Echo Bay-Kinross in Washington. He serves on the Audit Committee.
The accounting and financial planning for the Company will be performed by Malaspina Consultants, Inc. of Vancouver, B.C.
Davidson and Company will continue as Auditors for the Company.
Fang and Associates will continue to provide Legal Counsel.
ON BEHALF OF THE BOARD.
John W. Jewitt, CEO & President
“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION
This news release contains certain "forward-looking information" within the meaning of Canadian securities laws. Actual results may differ materially from those indicated by such forward-looking information. All information included herein, other than statements of historical fact, including, without limitation, information regarding future production, is considered forward-looking information and involves various risks and uncertainties. There can be no assurance that the forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
March 26, 2019 --- Subsequent to our Management Changes of December 20, 2018, we are happy to announce the following persons are assisting us as Corporate Advisor (Sveinson), and as QP for our Silver Queen Property (Hutter) and as QPs for our Monument Diamond Property (Kivi and Rocco).
Frederick James Sveinson, B.A., B.Sc., P. Eng. - Mr. Sveinson is a professional mining engineer with more
than 45 years' experience in Canada and internationally in the exploration, development, construction, operation and financing of mineral projects. His experience includes the development and operation of underground mines from l0Otpd to 2000tpd in Zambia, USA, Venezuela and Canada including the Arctic. He has been involved in projects with major logistics challenges including construction and operation in remote areas requiring fly-in, fly-out camps with access via long winter roads and by air. Mr. Sveinson has been involved with negotiating Impacts and Benefits agreements with First Nations and training of aboriginals. He has held senior positions with major consulting firms and contractors such as SNC Lavalin Inc. and Dynatec Corp. Fred has been an entrepreneur and founder of several junior companies which have re-started Brownfield's sites or developed new mining operations. Mr. Sveinson is currently working as a Senior Mining Advisor/ Consultant via his wholly owned company, International Mine Builders Inc. where he is currently leading the resurrection of the historic Bralorne underground gold mine owned by Avino Silver & Gold Mines Ltd. in British Columbia. He is also a Founder and Director of First Vanadium Corp. which is developing a major Vanadium project in Nevada. He
also is a Director and Advisor to European Electric Metals which recently acquired the Skroska Brownfields
underground Nickel-Cobalt mine in Albania which the company aims to return to production. Mr. Sveinson is a
graduate of the University of Saskatchewan in 1970 with a Bachelor of Science in Mining Engineering. He is
also a graduate of the University of Waterloo with a Bachelor of Arts in General Economics in 1985.
James Hutter, P. Geo., and independent Qualified Person re Silver Queen Project in British Columbia, has
a wide range of experience in the mineral exploration industry as a geologist, exploration contractor and
consultant for over forty years. He has specialized in the geology and mineral deposits of Northern BC,
including porphyry copper-moly-gold, porphyry molybdenum, and both precious and base metal vein
deposits, from grass roots exploration to pre-production programs. Mr. Hutter is focused on producing
reliable and accurate results to advance projects through the use of modern technology.
Kevin Kivi, P. Geo., and Independent Qualified Person ("IQP") has 35 years of mineral exploration
experience in search of diamonds, base and precious metals in Canada and other countries. He was a
member of Rio Tinto's Canadian diamond team at Lac de Gras from 1993 through discovery of the Diavik
Diamond Mine, and also built and managed the company's diamond laboratory in Thunder Bay. Kevin
became a consultant in 2004 and now explores for diamonds, gold and base metals with junior and private
companies. He is currently active exploring for gold in Finland and Ontario, exploring for Placer Gold in
the Klondike, Yukon, and exploring for diamonds in Ontario and Nunavut, and base metals in Ontario. Mr.
Kivi consults via KIVI Geoscience Inc. and conducts other business via Orebot Inc.
Justin Rocco, P .Eng. B.A.Sc. in Geological Engineering. - Mr. Rocco graduated from the University of
Toronto in 2003 and for the past 16 years has been in search for diamonds, base and precious metals
mainly in Canada. He was involved in the early stages and grassroots exploration of the Lac de Gras
region in the Northwest Territories with SouthernEra Resources. He also explored for diamonds
throughout northern Ontario on properties near the Victor Mine with SouthernEra. He built and
managed the company's diamond sampling laboratory in Toronto. Justin became a consultant in 2013
for diamonds, base and precious metals in Canada for various companies. Mr. Rocco consults under
Rocc Exploration & Contracting Ltd.
News Release – March 20, 2019
Monument Project Valuation
As previously announced, New Nadina Explorations Limited is seeking a Partner, either to advance the Monument project going forward or to acquire New Nadina’s interest therein, so that NNA can focus on its wholly-owned Silver Queen polymetallic project in Central British Columbia.
Bruce McKnight, P. Eng., has completed a Fair Market Valuation of the Monument on behalf of the Joint Venture partners: New Nadina Explorations (57.49%); Christopher and Jeanne Jennings (22.11%); and Archon Minerals Limited (20.40%). The purpose of the valuation is to establish a basis for the terms of participation, or sale.
The Monument property has twelve known kimberlites. Drill sampling of the RIP kimberlite in 2007 extracted larger samples where 2,201.7 kg of kimberlite produced 955 diamonds including the largest diamond found to date on the Monument property weighing 0.445 carats. On the DD17 kimberlite, 2,137.6 kg of kimberlite produced 964 diamonds.
Approximately $7 million has been expended on the property by the Monument Joint Venture Partners between 2003 and 2018. A comprehensive review and history of the Monument Project may be viewed at http://www.nadina.com/properties/monument
As stated in the McKnight Report, Fair Market Value means “The highest price available in an open and unrestricted market between informed and prudent parties, acting at arm’s length and under no compulsion to act, expressed in terms of cash”. An alternative definition of Fair Market Value is “the highest price an asset might reasonably be expected to bring if sold by the owner in the normal method applicable to the asset in question in the ordinary course of business in a market not exposed to any undue stress, and composed of willing buyers and sellers dealing at arm’s length and under no compulsion to buy or sell.”
McKnight undertook a three-fold approach for the valuation: Comparable Values ($/hectare); Comparable Values (Attributed share of Market Cap); and Adjusted Appraised Value.
The dollars per hectares approach was based upon selected properties that McKnight thought were comparable to Monument. “The utilization of prior expenditures that have added value to the Property (the Appraised Value method) has been considered by several mineral property valuators to be an acceptable approach to valuing mineral exploration properties. It is also endorsed by the TSX. However, only expenditures that relate to significant and relevant exploration should be included, and the quality of past work itself must be evaluated. “
“Based on the foregoing, it is the opinion of McKnight that the value of the Monument Property of New Nadina was approximately $2,200,000, as at the date hereof, with a relatively wide range of values of between about $2,000,000 and $2,400,000. Such a wide range is not unusual for mineral exploration properties at the stage of development of the Property. New Nadina’s interest would be valued at 60% (rather than 57.49% of the Property value because of its position as operator of the Monument Joint Venture), or about $1,320,000, with a range of about $1,200,000 to $1,440,000
This Opinion of Value may be relied upon by New Nadina and its advisors in their negotiations with potential purchasers, but may not be used or relied upon by any other person without express prior written consent of McKnight, which may not be unreasonably withheld.”
In consultation with its JV Partners, New Nadina has retained Kevin Kivi, P. Eng., and Justin Rocco, P. Geo, to develop an exploration plan going forward that will be included in an application for a new 5-year Land Use Permit. The current LUP expires on September 30, 2019.
New Nadina is focused on developing a new 5-year plan for exploration and development of its wholly-owned Silver Queen Property, located on the Morice River Forest Service road at Owen Lake, between Houston B.C. and the Huckleberry Mine operated by Imperial Metals Inc. As recently announced in a letter to shareholders, Nadina plans an aggressive surface drilling program in 2019, in conjunction with a Mineral Resource Estimate and Preliminary Economic Assessment of the No.3 Vein deposit. The Letter to Shareholder may also be viewed at www.nadina.com/news.
Certain statements in this news release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements reflect management’s current assumptions and expectations regarding future work programs (such as those planned for the Silver Queen Project), results, performance or events as of the date hereof and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results and the estimation of mineral resources and reserves; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, permitting and licensing risks; and general market and mining exploration risks Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.