|May 11, 2007|
Crowflight Announces Early Expiry of October 2006 Warrants
|CROWFLIGHT MINERALS INC. (Crowflight, the Company) (TSX Venture Exchange: CML) is pleased to announce that it is exercising its right to have the share purchase warrants ("Warrants") of the Company that were issued in October 2006 expire early. |
The majority of the common shares of the Company traded on the TSX Venture Exchange have traded at prices above $0.75 during the 15 consecutive trading days ended May 8, 2007. In connection with the increased share price, the Company has provided Warrantholders with notice that it is accelerating the expiry time of the Warrants, in accordance with the terms of the Warrants. Unless duly exercised, the Warrants will expire at 4:00 p.m. (Toronto time) on June 26, 2007.
Crowflight - The Base Metal Builder
Crowflight Minerals Inc. is a Canadian junior mining exploration and development company listed on the TSX Venture Exchange. The company is focused on nickel, copper and Platinum Group Mineral ("PGM") projects in the Thompson Nickel Belt ("TNB") and Sudbury Basin. The company currently owns and/or has under option approximately 600 square kilometres of exploration and development properties in Manitoba and Ontario.
In Manitoba, these properties include: (1) the Bucko Lake Nickel Deposit; (2) an earn-in option with Xstrata Nickel on five highly prospective properties (Bucko/Bowden, Resting Lake, Rock Island Lake, Halfway Lake and Gonlin Lake) on the TNB South Project located within 30 kilometres of the Bucko Deposit; and (3) six additional properties (Burntwood River, Birchtree South, Birchtree North, Airport, Moak Lake and Strong Lake) located 100 kilometres to the north on the TNB North Project.
In the Sudbury Basin, these properties include: (1) the 100% owned AER Kidd Project adjacent to Inco's Totten Deposit (10.1 million tonnes grading 1.5% nickel, 2.0% copper and 4.8 g/t PGM's); (2) the 100% owned Peter's Roost Property, being explored under a joint venture agreement with Wallbridge Mining Co. Ltd.; and (3) the Airport Property (a 50/50 joint venture with Millstream Mines Ltd.) located 4 kilometres south, and on-strike, with Falconbridge's Nickel Rim South Deposit (13.2 million tonnes grading 1.7% nickel, 3.5% copper and 4.1 g/t PGM's).
Further information regarding Crowflight, including details of its properties, and where relevant its earn-in interests in properties, is available on the Company's web site at www.crowflight.com.
Statements in this release that are not historical facts are "forward-looking statements" within the meaning of applicable securities law. Forward-looking statements include, but are not limited to, statements regarding the future drilling and development of Crowflight's properties, the outcome of any development activities, and estimates regarding mineral reserves and mineral resources. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward-looking statements. The Company cautions investors that the projections for increases to the Indicated Resources are based on Inferred Resources. There is no certainty that these projections will be added to the Indicated Resources or that they will be economically viable.
For further information please contact:
President and CEO
Tel: (416) 861 - 5900
Fax: (416) 861 - 8165
Ascenta Capital Partners Inc.
Tel: (604) 684 - 4743 ext 226
You can view the Next News Release item: Tue May 15, 2007, Crowflight Drilling Confirms Additional Near Surface Mineralization At Bucko Lake Nickel Deposit
You can view the Previous News Release item: Tue May 8, 2007, Preliminary Results from Crowflight's Winter Drill Program Outline New Nickel Mineralization Near Bucko Deposit
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