|January 10, 2011|
Crowflight Sued by Creditor
|Vancouver, British Columbia - January 10, 2011 - CROWFLIGHT MINERALS INC. ("Crowflight" or the "Company") (TSX: CML) today announced that Dumas Contracting Ltd. ("Dumas"), the former mining contractor of the Company, has filed a statement of claim for the amount of $7,128,383.01 against Crowflight. Dumas has also placed a lien on the Company's Bucko mine. The Company will defend the claim because significant amounts of the claim are in dispute. While pending a judicial resolution or settlement of the matter, all of the amounts claimed have been or will be accrued and disclosed on the Company's financial statements. Crowflight is currently seeking additional financing in order to bring all valid payables current. The outcome of the lawsuit is not currently determinable.|
About Crowflight Minerals
Crowflight Minerals Inc. (TSX: CML) is a Canadian junior mining company that owns the Bucko Lake Nickel Mine near Wabowden, Manitoba. 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 terms of the financing and the proposed board changes; the Company's development potential and timetable of the Company's properties, including the Bucko Lake Project; the timing and amount of estimated future production; and planned capital expenditures. 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. 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 those risks of the Company described in its annual information form that is available under its profile on SEDAR at www.sedar.com. 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
Chief Financial Officer and Corporate Secretary
Crowflight Minerals Inc.
P.O. Box 35 1655-999 West Hastings Street
Vancouver, British Columbia Canada V6C 2W2
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