|June 10, 2009|
Crowflight Declares Commerical Production at Bucko Mine
CROWFLIGHT MINERALS INC. (the "Company") (TSX: CML) today announced that, as of June 1, 2009, it has achieved commercial production at its wholly-owned Bucko Lake Nickel Mine (Bucko) located in the Thompson Nickel Belt near Wabowden, Manitoba (commercial production being defined as throughput greater than 60% of mill nameplate capacity).
Initial production at Bucko commenced during December 2008 and the first shipment of nickel concentrate to Xstrata's integrated processing facility in Sudbury, Ontario was achieved by February, 2009. Crowflight has continued making regular shipments of concentrate to the Xstrata facility since that time.
Bucko Production Key Performance Indicators (KPI) for the month of May are as follows:
Repairs to the cone crusher, modifications to the reagent distribution system and shaft conveyance maintenance resulted in eight lost days of processing during the month. Discounting these lost days, the mill throughput averaged 811 TPD and nine days saw processing rates average 969 TPD. Both the mill and mine performance KPI's continue to steadily improve as the operation ramps up to full production of 1,000 TPD, which is expected by mid-summer.
Underground mining activities continue to accelerate with two stopes producing from the 1,000 to 900 foot levels and the first stope between the 500 to 450 levels is scheduled for production during July.
In conjunction with the declaration of commercial production, Crowflight will make a royalty payment to Xstrata of CAD $500,000 as per the terms of the Earn-In Agreement.
Crowflight Minerals -- Canada's Newest Nickel Producer
Crowflight Minerals Inc. (TSX: CML) is a debt-free Canadian junior mining company that is producing nickel at the Bucko Lake Nickel Mine near Wabowden, Manitoba. Crowflight achieved full commercial production at Bucko in the second quarter of 2009. The Company is also focused on nickel, copper and Platinum Group Mineral (PGM) projects in the Thompson Nickel Belt and Sudbury Basin.
Cautionary Note on Forward-Looking Information
This press release contains forward-looking statements under Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the Bucko's production and development potential and timetable; the future price of nickel; the timing and amount of estimated future exploration and production; costs of future activities; success of exploration and production activities; government regulation of mining operations; and environmental risks. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Estimates regarding mineral resources and mineral reserves are based on extensive analysis regarding exploration information obtained for diverse sources, including drill results; such analysis being conducted by company geologists and verified by third party consultants. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Crowflight to be materially different from those expressed or implied by such forward-looking statements. Although management of Crowflight has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
Further information is available on the Company's website at www.crowflight.com or contact:
President and CEO
Tel: (416) 861-2266
Manager, Investor and Public Relations
Tel: (416) 861-5803
You can view the Next News Release item: Tue Jul 7, 2009, Crowflight Announces Private Placement Financing and Provides Bucko Update
You can view the Previous News Release item: Mon Jun 1, 2009, Crowflight Reports Results From Underground Drilling At The Bucko Mine
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