|June 22, 2011|
Crowflight Announces Name Changed and Provides Business Updates
|Vancouver, British Columbia - June 22, 2011 - CROWFLIGHT MINERALS INC. ("Crowflight" or the "Company") (TSX: CML) announces that the Company has completed all necessary application processes and obtained regulatory approval to change its name to "CaNickel Mining Limited" from "Crowflight Minerals Inc." and the continuance to the Province of British Columbia from the Province of Ontario. The Company's shares will commence trading on the Toronto Stock Exchange under the new name on Thursday, June 23, 2011. The trading symbol of the Company will remain as "CML". |
As to the Company's share consolidation proposal ("Consolidation"), the Consolidation has been approved by the shareholders of the Company at the annual general and special meeting in May 2011, and the Directors of the Company are hereby authorized and empowered, without further approval or authorization of the shareholders of the Company, to determine the timing and ratio of the Consolidation or to revoke the Consolidation at its sole discretion at any time to their being acted upon. The Directors of the Company has been reviewing the Consolidation proposal, but no decision has been made as of today.
The Company is also pleased to announce that after the restart of mining operation at the Company's Bucko Lake Nickel Mine in Wabowden, Manitoba in April 2011, its first shipment, consisted of approximately 85 tonnes of nickel concentrate, was transported today to Xstrata's smelter in Sudbury, Ontario. The mill is currently processing approximately 600 tonnes of ore per day, and will start to process 1,000 tonnes of ores per day once the mining operation ramping up. The Company expects to produce five million pounds of nickel in 2011, no change to the production guidance previously provided.
About Crowflight Minerals Inc.
Crowflight Minerals Inc. (TSX: CML) is a Canadian junior mining company that owns and operates 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.
Further information is available on the Company's website at www.crowflight.com or contact:
CFO and Corporate Secretary
Crowflight Minerals Inc.
P.O. Box 35 1655-999 West Hastings Street
Vancouver, British Columbia Canada V6C 2W2
Tel: 778-372-1806 Fax: 604-254-8863
Cautionary Note on Forward-Looking Information
This press release contains forward-looking statements under Canadian securities legislation. 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.
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