Archon Responds to Dominion Diamond Corporation’s New Release
Archon Minerals Limited
#2801 – 323 Jervis Street
Vancouver, BC, V6C 3P8
Tel: 604-682-3303
Archon Responds to Dominion Diamond Corporation’s New Release
February 1, 2017 – Vancouver, British Columbia TSX.V: ACS
Archon Minerals Limited (“Archon” or the “Company”) is responding to the news release
disseminated today by its joint venture partner Dominion Diamond Ekati Corporation (“Dominion”) with
respect to purported changes in Archon’s ownership interest in the Buffer Zone at the Ekati diamond mine.
Dominion’s news release states that Archon’s participating interest has dropped due to the
Company’s non-funding of the fiscal 2017 capital program. Archon disagrees with Dominion’s position
with respect to the change in ownership interest, as well as the characterization that the Company has
made a final decision not to participate in the capital program. Archon has spent the past year evaluating
the economics of projects in the Buffer Zone and has raised various concerns with Dominion regarding
the same. Both joint venture partners have been in discussions to attempt to resolve these concerns. Until
these discussions have concluded, Archon does not consider it appropriate to make a decision with respect
to the funding of any capital program.
Archon will continue to work in good faith with Dominion to reach a resolution, and the Company’s
board of directors will convene to formulate a response to the situation.
ARCHON MINERALS LIMITED
“Stewart Blusson”
Stewart Blusson, President and Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain “forward -looking statements”, which are statements about the future based on current
expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward -looking state ments.
Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements
will prove to be accurate or true. Investors should not place undue reliance on forward -looking statements. The Company do es
not undertake any obligation to update forward-looking statements except as required by law.