News Release

 April 01, 2010
Crowflight Announces Fourth Quarter and Year End 2009 Financial Results

 
CROWFLIGHT MINERALS INC. ("Crowflight" or the "Company") (TSX: CML) today announces its financial results for the fourth quarter and year end of 2009.

Complete audited annual financial statements and related Management's Discussion and Analysis will be filed under the Company's profile on www.sedar.com. All amounts are in Canadian dollars unless otherwise indicated.

2009 IN REVIEW - HIGHLIGHTS FOR THE YEAR

  • The Bucko Lake Nickel Mine ("Bucko") located in the Thompson Nickel Belt near Wabowden, Manitoba shipped its first nickel concentrate in February 2009. The commencement of nickel concentrate shipments marked a major milestone for the Company as it transitioned from an exploration and development company to a nickel producer.

  • In February 2009, the Company was able to monetize all remaining nickel forward sales and foreign exchange contracts for net proceeds of $10.1 million. Of this, $7.6 million was used to pay off the outstanding balance of the $55 debt facility used to build the Bucko Mine. As a result of this transaction, Crowflight was free of any long-term debt used to build the mine.

  • An updated National Instrument (NI) 43-101 compliant Minerals Reserve and Resource estimate in March 2009 increased Proven & Probable reserves at Bucko by 22% from the 2007 Bankable Feasibility Study.

  • The Company raised a total of $47.8 million through private placements throughout the year. This included two strategic investments in Crowflight made by Pala Investments Holdings Limited ("Pala") and Kingplace Enterprises Limited. These strategic investments provided Crowflight with strong financial partners committed to maximizing the potential of the Bucko Mine.

  • In June 2009, commercial production was declared at the Bucko Lake Nickel Mine (commercial production being defined as throughput greater than 60% of mill nameplate capacity).

  • In November 2009, Crowflight temporarily suspended all production mining and milling operations at the Bucko Mine for three months in order to complete ramp development, review the mining method (subsequently redesigned the mine method, please see press release dated February 1st, 2010), accelerate mine development, continue with diamond drilling underground and upgrade the backfill plant. The Bucko Mine subsequently resumed milling operations and shipments of nickel concentrate in March 2010.

  • For the year 2009, the Company produced approximately 1,382,000 pounds of nickel and sold 1,152,000 pounds of payable nickel.
HIGHLIGHTS FOR THE FOURTH QUARTER OF 2009

  • For the quarter ended December 31, 2009, 183,000 pounds of nickel were produced, and 287,000 pounds of commercial production nickel sold as compared to nil in the fourth quarter of 2008 as the mine was not yet in production.

  • Total metal revenue for the quarter ended December 31, 2009 was $2.4 million compared to nil for the fourth quarter last year.

  • Operating cash flow for the quarter ended December 31, 2009 was negative $4.2 million compared to operating cash flow of $61.8 million in the fourth quarter last year (due to a gain on derivative instruments in 2008).

  • Loss for the quarter ended December 31, 2009 was $22.3 million or ($0.04) per share compared to income of $28.9 million or $0.11 per share in the fourth quarter last year (due to a gain on derivative instruments in 2008.) The loss for Q4-2009 included a $33.7 million write down to property, plant and equipment and certain exploration assets which generated a tax benefit of $15 million, giving an after tax write down of $18.7 million.

  • Commercial nickel sales settled during the quarter ended December 31, 2009 were realized at an average price of US$7.35 per pound.

  • Net working capital (non-GAAP measure, see "Non-GAAP Measures" section) as at December 31, 2009 was $3.2 million (including cash and cash equivalents of $10.0 million) compared to $7.7 million as at December 31, 2008.

  • On October 14, 2009, Crowflight closed the second tranche of its private placement financing with Kingplace Enterprises Limited for gross proceeds of approximately $8.8 million. Pursuant to the second tranche, Crowflight issued 35,266,779 common shares of the Company at a price of $0.25 per share. The primary intended use for the proceeds from the financing was the continued development of the Bucko Lake Project and the balance for general corporate purposes. The first tranche of the financing for $11.2 million closed during the third quarter of 2009.

  • In addition to the temporary three-month suspension of all production mining and milling operations at the Bucko Mine mentioned above in the "2009 in Review -- Highlights for the Year" section, the Company also announced on November 16, 2009 that Paul Keller stepped down as Crowflight's Vice President Operations and Chief Operating Officer, effective November 16, 2009.

  • Crowflight completed an exploration drill program around its M11A deposit located 5 kilometres from the Bucko mine site during the fourth quarter of 2009. The work was designed to infill and explore for extensions to mineralization identified at the M11A North deposit while meeting the Company's ongoing commitment to fund exploration under its option agreement with Xstrata. Expenditures made during this program will allow Crowflight to vest its initial 35% interest in the combined land package in the Thompson Nickel Belt held under option from Xstrata.


2009 Quarterly Bucko Mine Operations Production and Financial Data
  Q1-2009 Q2-2009 Q3-2009 Q4-2009 Total-2009
  Pre-production Pre-production Production Production Production  
Operating Statistics:            
Tonnes ore mined 31,091 42,224 18,377 27,634 16,605 135,931
Average Nickel head grade (%Ni) 0.95% 1.25% 0.93% 1.05% 0.69% 1.00%
Tonnes ore milled 29,303 35,490 18,390 23,493 18,294 124,970
Average Recovery 31.97% 61.40% 62.62% 69.70% 64.88% 55.52%
Nickel pounds:      
Produced 138,956 441,200 234,920 384,327 183,203 1,382,606
Payable sold1 65,498 268,636 254,139 276,918 287,506 1,152,697
       
Pre-production Metal Sales Revenue:      
Average Ni price (US$/lb) $ 4.46 $ 5.73     
CAD/US exchange rate 1.26 1.15     
Nickel revenue1 $ 368,318 $ 1,939,400     
Other metals revenue 2 $ 5,935 86,700     
Total metal revenue $ 374,253 $ 2,026,100     
       
Commercial Production Metal Sales Revenue:      
Average Ni price (US$/lb)    $ 6.79 $ 7.41 $ 7.35 7.19
CAD/US exchange rate   1.16 1.09 1.07 1.10
Nickel revenue   2,007,450 2,231,683 2,254,773 6,493,906
Pricing adjustments3   - 52,810 184,171 236,981
Total metal revenue   2,007,450 2,284,493 2,438,944 6,730,887
Cost of sales   2,445,213 2,546,116 4,391,982 9,383,311
Accretion   - - - -
Temporary shutdown costs   - 2,381,083 2,561,917 4,943,000
Depreciation, depletion, and amortization   336,093 605,141 357,940 1,299,174
Gross profit    (773,856) (3,247,847) (4,872,895) (8,894,598)
Net earnings (loss) before tax5   (3,193,607) (5,214,837) (40,832,756) (47,984,016)
Basic and diluted earnings (loss per share)   $ (0.01) $ (0.01) $ (0.04) $ (0.07)
Cash flow from operating activities6   1,509,159 389,211 (4,180,453) 6,209,391
USD Cash Cost of sales per pound sold1,4   $ 8.28 $ 8.45 $ 14.31 $ 10.38
1. Includes settlement of prior quarter sales
2. Other metal revenue is recorded as an offset to cost of sales in the Company's financial statements
3. Pricing adjustments reflect final pricing/volume adjustments on lots sold in prior quarters
4. Non-GAAP Measure - see "Non-GAAP Measures" section
5. Total net earnings (loss) before tax total for 2009 includes pre-production net earings (loss)
6. Cash flow from operating activities total for 2009 includes pre-production cash flow

Outlook

As announced February 24, 2010, Crowflight's production targets for 2010 from Bucko are approximately 8.6 million pounds of payable nickel based on projections of 342,000 tonnes at a 1.63% nickel grade and assuming a 78% recovery. The average operating cash costs (non-GAAP measure, see "Non-GAAP Measures" section) for the entire year are projected to be between US$5.70 - $5.90 per pound of payable nickel (using a USD: CAD exchange rate of 0.94) as a result of lower tonnages in the first half of 2010 as the mine resumes production. The average operating cash cost projected for the second half of the year is expected to average US$5.15 - $5.35 per pound of payable nickel when the mine is expected to be in full production.

Crowflight currently estimates capital requirements for 2010 to be approximately CAD$14 million for continued mine development, upgrading of the backfill plant and increasing the tailings pond capacity.

Further to the Bucko operational updates that Crowflight provided in the press releases dated February 1 and 24, 2010, the ramp connecting surface to the 1,000' Level has been completed. The ramp connection has been designed to develop access to new areas for mining and allow for the use of large 40-tonne class trucks to haul ore directly from the stoping levels to surface. The trucking via ramp is important to allow for efficient mining cycle time as well as the continuous transport of ore to surface from a number of operating mining levels.

Production mining, milling and nickel concentrate shipments resumed at Bucko in March, 2010 and the mine is ramping up to achieve the second quarter target of 1,000 tonnes per day (tpd) of ore which is planned to increase to 1,200 tpd in the second half of 2010.

Greg Radke has replaced Jan Castro as a member of the Board of Directors. Mr. Radke has been appointed by Pala. The Company would like to thank Mr. Castro for his contribution to, and continuing support of, the Company.

Non-GAAP Measures

This press release refers to net working capital and cash cost per pound which are not recognized measures under Canadian GAAP. These non-GAAP performance measures do not have any standardized meaning prescribed by Canadian GAAP and are therefore unlikely to be comparable to a similar measures presented by other issuers. Management uses these measures internally. The use of these measures enables management to better assess performance trends. Management understands that a number of investors and others who follow the Company's performance assess performance in this way. This data is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with Canadian GAAP.

Qualified Person/Quality Control Procedures

This press release has been prepared and reviewed by Mr. Greg Collins, P.Geo. (APGO/APEGM) VP Exploration of Crowflight and Steve Davies, P.Eng, and Chief Operating Officer of Crowflight, both of whom are Qualified Persons under the National Instrument 43-101 guidelines.

About Crowflight Minerals

Crowflight Minerals Inc. (TSX: CML) is a Canadian junior mining company that owns the Bucko Lake Nickel Mine near Wabowden, Manitoba that recently resumed production. The Company also holds 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 Company's development potential and timetable of the Company's properties, including the Bucko Lake Project; the future price of nickel and other minerals; foreign exchange rates; the estimation of mineral reserves and mineral resources; conclusions of economic evaluations; the realization of mineral reserve estimates; the timing and amount of estimated future production; costs of production; capital expenditures; success of exploration activities; mining or processing issues; currency exchange rates; 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 the anticipated timing, amount and cost of mining at the Bucko Lake Project are based on assumptions underlying mineral reserve and mineral resource estimates and the probability of realizing such estimates that are set out herein. Capital and operating cost estimates are based on extensive research of the Company, purchase orders placed by the Company to date, recent estimates of construction and mining costs and other factors that are set out herein. Production estimates are based on mine plans and production schedules, which have been developed by the Company's personnel and independent 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 the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to risks related to: unexpected events and delays during construction, expansion and start-up; variations in mineral grade and recovery rates; receipt and revocation of government approvals; timing and availability of external financing on acceptable terms; actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of minerals, particularly nickel; failure of plant, equipment or processes to operate as anticipated; reliance on joint venture partners; accidents, labour disputes and other risks of the mining industry. Although management of the Company 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:

Anna M. Ladd
VP Finance and CFO
Crowflight Minerals
Tel: (416) 861-5891

Heather Colpitts
Manager, Investor and Public Relations
Crowflight Minerals
Tel: (416) 861-5803
info@crowflight.com

CONSOLIDATED BALANCE SHEETS
As at December 31,
----------------------------------------------------------------------------
                                            December 31,       December 31,
                                                    2009               2008
ASSETS
Current
 Cash and cash equivalents              $     10,040,475   $     10,607,543
 Restricted cash                                       -          2,999,998
 Amounts receivable                            1,291,687            607,125
 Inventory                                     1,031,734            268,285
 Prepaid expenses and deposits                   135,290            138,463
 Derivative asset                                      -          8,668,392
----------------------------------------------------------------------------
                                              12,499,186         23,289,806
Deposits and advances                            534,709            536,709
Property, plant and equipment                138,568,967            109,241
Exploration and development property and
 deferred expenditures                        14,704,437        153,939,715
----------------------------------------------------------------------------
                                        $    166,307,299   $    177,875,471
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LIABILITIES
Current
 Accounts payable and accrued
  liabilities                           $      9,282,060   $     14,950,385
 Equipment leases                                 45,371             48,129
 Derivative liability                                  -            624,223
----------------------------------------------------------------------------
                                               9,327,431         15,622,737
Equipment leases                                  61,281            107,286
Long term debt                                         -          7,600,000
Asset retirement obligations                     918,387            359,000
Future income tax liability                    6,000,200         24,139,000
----------------------------------------------------------------------------
                                              16,307,299         47,828,023
----------------------------------------------------------------------------
SHAREHOLDERS' EQUITY
Common shares                                138,758,903         99,289,864
Warrants                                      10,195,919          4,944,374
Contributed surplus                           15,698,606         13,485,751
Retained Earnings                           (14,653,428)         12,327,459
----------------------------------------------------------------------------
                                             150,000,000        130,047,448
----------------------------------------------------------------------------
                                        $    166,307,299   $    177,875,471
----------------------------------------------------------------------------
----------------------------------------------------------------------------

These financials should be read in conjunction with the Notes and Management's Discussion and Analysis available online at www.sedar.com and on the Company's website at www.crowflight.com.
Consolidated Statements of Shareholders' Equity
                                       Common Shares               Warrants
                                          No.              $              $
                               ---------------------------------------------
Balance, December 31, 2007        249,978,487     86,671,512      2,025,712
                                                                          -
 Private placement                 39,680,000     15,251,000              -
 Value of warrants granted
  related to debt facility                  -              -      3,719,479
 Value of warrants to be
  granted                                   -              -        849,709
 Exercise of warrants and
  broker warrants                   1,115,836        446,334              -
 Valuation allocation on
  exercise of warrants                      -        118,742       (118,742)
 Exercise of stock options          2,530,000        569,531              -
 Valuation allocation on
  exercise of stock options                 -        979,566              -
 Stock based compensation                   -              -              -
 Flow through share tax effect              -     (3,563,000)             -
 Value of broker warrants                   -       (375,186)       375,186
 Valuation allocation on expiry
  of warrants and
  broker warrants                           -              -     (1,906,970)
 Share issue costs                          -     (1,198,635)             -
 Tax effect of cost of issue                -        390,000              -
 Income for the period                      -              -              -
----------------------------------------------------------------------------
Balance, December 31, 2008        293,304,323     99,289,864      4,944,374
 Private placement                215,411,765     47,820,000              -
 Value of warrants granted                  -     (4,842,336)     4,842,336
 Value of warrants granted
  related to debt facility                  -              -        107,597
 Exercise of stock options            245,000         49,000              -
 Valuation allocation on
  exercise of stock options                 -         18,586              -
 Stock based compensation -
  shares                              562,464        113,130              -
 Stock based compensation -
  options                                   -              -              -
 Flow through share tax effect              -     (2,982,000)             -
 Value of broker warrants                   -       (301,612)       301,612
 Share issue costs                          -       (523,400)
 Tax effect of cost of issue                -        117,671              -
 Loss for the period                        -              -              -
----------------------------------------------------------------------------
Balance, December 31, 2009        509,523,552    138,758,903     10,195,919
Consolidated Statements of
Shareholders' Equity
                                  Contributed    Accumulated  Shareholders'
                                      Surplus        Deficit         Equity
                                            $              $              $
                               ---------------------------------------------
Balance, December 31, 2007         10,193,512    (22,151,940)    76,738,796
 Private placement                          -              -     15,251,000
 Value of warrants granted
  related to debt facility                  -              -      3,719,479
 Value of warrants to be
  granted                                   -              -        849,709
 Exercise of warrants and
  broker warrants                           -              -        446,334
 Valuation allocation on
  exercise of warrants                      -              -              -
 Exercise of stock options                  -              -        569,531
 Valuation allocation on
  exercise of stock options          (979,566)             -              -
 Stock based compensation           2,364,835              -      2,364,835
 Flow through share tax effect              -              -     (3,563,000)
 Value of broker warrants                   -              -              -
 Valuation allocation on expiry
  of warrants and
  broker warrants                   1,906,970              -              -
 Share issue costs                          -              -     (1,198,635)
 Tax effect of cost of issue                -              -        390,000
 Income for the period                      -     34,479,399     34,479,399
----------------------------------------------------------------------------
Balance, December 31, 2008         13,485,751     12,327,459    130,047,448
 Private placement                          -              -     47,820,000
 Value of warrants granted                  -              -              -
 Value of warrants granted
  related to debt facility                  -              -        107,597
 Exercise of stock options                  -              -         49,000
 Valuation allocation on
  exercise of stock options           (18,586)             -              -
 Stock based compensation -
  shares                                    -              -        113,130
 Stock based compensation -
  options                           2,231,441              -      2,231,441
 Flow through share tax effect              -                    (2,982,000)
 Value of broker warrants                   -              -              -
 Share issue costs                                                 (523,400)
 Tax effect of cost of issue                -              -        117,671
 Loss for the period                        -    (26,980,887)   (26,980,887)
----------------------------------------------------------------------------
Balance, December 31, 2009         15,698,606    (14,653,428)   150,000,000

These financials should be read in conjunction with the Notes and Management's Discussion and Analysis available online at www.sedar.com and on the Company's website at www.crowflight.com.
CONSOLIDATED STATEMENTS OF OPERATIONS AND DEFICIT
For the years ended December 31,
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                    2009               2008
----------------------------------------------------------------------------
Revenue
Nickel sales                              $    6,493,906   $              -
Pricing adjustments                              236,981   $              -
----------------------------------------------------------------------------
Revenue - after pricing adjustments            6,730,887   $              -
Cost of sales (excludes accretion,
 depreciation, depletion and                   9,383,311                  -
 amortization)
Depreciation, depletion and amortization       1,299,174                  -
----------------------------------------------------------------------------
Gross margin - mining operations              (3,951,598)                 -
Temporary shutdown costs                       4,943,000                  -
----------------------------------------------------------------------------
Loss from mine operations                     (8,894,598)                 -
Other expenses
Professional, consulting and management
 fees                                          4,439,524          3,194,231
General and office                             1,359,469            410,509
Shareholder communications and investor
 relations                                       375,500            439,525
Travel                                           202,637            169,088
Interest expenses and bank charges               140,930             11,495
Amortization                                       1,557              6,816
----------------------------------------------------------------------------
                                               6,519,617          4,231,664
----------------------------------------------------------------------------
(Loss) before the undernoted                 (15,414,215)        (4,231,664)
Interest income                                   45,581            253,448
Interest on long term debt                       (48,673)        (2,317,355)
General exploration                              (50,000)          (106,921)
Debt facility transaction costs                 (383,464)        (5,993,883)
Write down of property, plant and
 equipment                                   (30,601,829)                 -
Write down of exploration property and
 deferred expenditures                        (3,185,941)        (5,244,395)
Accretion                                         57,416            (28,000)
Recovery of expenditures                          66,958                  -
Net gain on derivative instruments             1,530,151         70,624,169
----------------------------------------------------------------------------
Income/(loss) before income taxes            (47,984,016)        52,955,399
Future income taxes                           21,003,129        (18,476,000)
----------------------------------------------------------------------------
Income/(loss) for the year                   (26,980,887)        34,479,399
RETAINED EARNINGS/(DEFICIT), beginning
 of year                                      12,327,459        (22,151,940)
                                        ------------------------------------
RETAINED EARNINGS/(DEFICIT), end of year  $  (14,653,428)    $   12,327,459
                                        ------------------------------------
                                        ------------------------------------
Income (loss) per share - basic &
 diluted                                  $        (0.07)    $         0.13
Weighted average number of shares -
 basic                                       390,323,874        264,303,511
Weighted average number of shares -
 diluted                                     390,323,874        267,145,855

These financials should be read in conjunction with the Notes and Management's Discussion and Analysis available online at www.sedar.com and on the Company's website at www.crowflight.com.
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the years ended December 31,
----------------------------------------------------------------------------
                                                    2009               2008
----------------------------------------------------------------------------
OPERATING ACTIVITIES:
Net income/(loss) for the period        $    (26,980,887)  $     34,479,399
Charges not affecting cash:
 Depreciation, depletion and
  amortization                                 1,300,731              6,816
 Stock-based compensation expense              2,330,321          2,364,835
 Warrants issued on In-process working
  capital facility                               107,597                  -
 Accretion                                       (57,416)            28,000
 Debt facility transaction costs                       -          7,175,683
 Capitalized interest                                  -                  -
 Change in value of derivative
  instruments                                  8,044,169         (8,044,169)
 Write down of property, plant and
  equipment                                   30,601,829                  -
 Write down of exploration property and
  deferred expenditures                        3,135,941          5,244,395
 Future income tax (recovery)/expense        (21,003,129)        18,476,000
Net change in non-cash working capital         8,730,235           (498,933)
----------------------------------------------------------------------------
                                               6,209,391         59,232,026
----------------------------------------------------------------------------
FINANCING ACTIVITIES:
Debt facility, net of transaction costs                -         47,612,059
Retirement of debt facility                   (7,600,000)       (42,400,000)
Private placements                            37,242,661         14,052,365
Shares issued from exercise of warrants
 and options                                      49,000          1,015,865
Payments on equipment leases                     (48,763)           (74,444)
----------------------------------------------------------------------------
                                              29,642,898         20,205,845
----------------------------------------------------------------------------
INVESTING ACTIVITIES:
Exploration and development property,
 plant and equipment, and deferred
 expenditures                                (33,631,896)       (82,559,511)
(Increase) decrease in deposits and
 prepaid exploration expenditure                       -            318,554
(Decrease)/Increase in accounts payable
 attributable to property development
 and exploration                              (5,787,459)         7,405,839
Change in restricted cash                      2,999,998         (2,999,998)
----------------------------------------------------------------------------
                                             (36,419,357)       (77,835,116)
----------------------------------------------------------------------------
CHANGE IN CASH AND CASH EQUIVALENTS             (567,068)         1,602,755
CASH AND CASH EQUIVALENTS, beginning of
 year                                         10,607,543          9,004,788
----------------------------------------------------------------------------
CASH AND CASH EQUIVALENTS, end of year  $     10,040,475   $     10,607,543
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Cash and cash equivalents consist of:
 Cash                                          2,259,673            559,438
 Cash equivalents                              7,780,802         10,048,105
----------------------------------------------------------------------------
                                        $     10,040,475   $     10,607,543
----------------------------------------------------------------------------
----------------------------------------------------------------------------
SUPPLEMENTAL INFORMATION:
Warrants granted related to debt
 facility                                        107,597          4,569,188
Warrants granted as cost of issue                301,612            375,186
Stock based compensation charged to
 exploration properties                           14,250                  -
Amortization of assets deferred to
 exploration properties                           10,041             28,242
Equipment acquired by capital lease                    -             41,003
Repayment of bridge facility with final
 tranche                                               -         15,000,000
Interest received                                 34,363            257,347
Interest paid                                     83,807          1,135,555
Income taxes paid                                      -                  -
Common shares issued for settlement of
 accounts payable                             10,053,939                  -

These financials should be read in conjunction with the Notes and Management's Discussion and Analysis available online at www.sedar.com and on the Company's website at www.crowflight.com.
 
 

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CANICKEL MINING LIMITED. P.O. Box 35 1655-999 West Hastings Street, Vancouver, British Columbia, Canada V6C 2W2 P: 778-372-1806 F: 604-254-8863 E: