Canadian International Minerals Inc. Highlights Niobium Potential of Wicheeda Alkaline-Carbonatite Complex, British Columbia
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January 26, 2017 For Immediate
Release
News Release TSX-V:
CIN
Canadian International Minerals Inc. Highlights Niobium Potential of
Wicheeda Alkaline-Carbonatite Complex, British Columbia
January 26, 2017 – Vancouver, British Columbia – Canadian International Minerals
Inc. (the “Company”) (TSX-V: CIN; FRANKFURT: 25C1) is pleased to provide an
update on the Company’s 100% owned Wicheeda Alkalin e-Carbonatite project (the
“Project”), located approximately 80 kilometers nor theast of Prince George, B.C., in the
heart of the Rocky Mountain Rare Metal Belt.
In 2011, the Company completed an 11 hole helicopte r-supported diamond drill
program on the Project. This program was designed t o follow up on the 2010 drill
program, which intercepted significant rare earth m ineralization in all 9 holes, the most
notable intercept being 37.3 meters of 1.43% TREO ( Total Rare Earth Oxides)
encountered in hole CA-10-006.
While the 2010 drill program was focused on the nor thwest portion of the claim block, in
the vicinity of the Wicheeda Rare Earth deposit own ed by Spectrum Mining Corp. (a
private company), the 2011 drill program targeted a number of geophysical and
geochemical targets approximately 1.8 km to 4.3 km to the southeast of the 2010
drilling.
The 2011 drilling campaign encountered rare earth m ineralization in the majority of
holes with most falling in the range of 0.2% - 0.5% TREO. The drill program confirmed
that the alkaline intrusive body is mineralized in rare earths and rare metals over a 4.7
km strike length.
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A preliminary reevaluation has affirmed that the pr oject has significant Niobium potential
which was not considered material at the time. The Company wishes to report the
following Niobium assays from the 2011 drill program:
2011 Wicheeda Drilling
Hole From (m) To (m) Interval (m) Nb 2O5 (%)
CA-11-010
Including
And
171.80
171.80
171.80
187.86
178.53
172.78
16.06
6.73
0.98
0.188
0.270
0.731
CA-11-010 182.93 187.86 4.93 0.214
CA-11-011 133.75 136.85 3.1 0.179
CA-11-011
Including
184.80
188.89
190.5
190.5
5.70
1.61
0.215
0.507
CA-11-013 57.31 61.33 4.02 0.143
CA-11-013 175 183 8 0.134
CA-11-013 314.85 315.66 0.81 0.616
CA-11-013 354.17 357.55 3.38 0.199
CA-11-014
Including
And
173.23
173.23
173.23
197.66
182.80
177.13
24.43
9.57
3.90
0.156
0.217
0.337
CA-11-014
Including
And
And**
232.98
241.65
251.44
256.57
270.58
259.92
259.92
258.77
37.6
18.27
8.48
2.2
0.226
0.297
0.321
0.632
** Intercept also returned 2.2 meters of 158 ppm Ta2O5
The Company continues to reevaluate the exploration targets for the Wicheeda Project
and will be investigating a number of partnership avenues in the coming weeks.
About the Rocky Mountain Rare Metal Belt
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The Rocky Mountain Rare Metal Belt is a 2,500 kilom eter trend with geological
conditions suitable for the emplacement of both rar e earth elements and rare metals.
The Belt is host to 3 main rare earth/metal deposits:
● Blue River/Upper Fir Tatalum-Niobium Deposit
Commerce Resource Corp. (TSX-V: CCE)
Approximately 330km southeast of Wicheeda
Indicated Resource: 48.41 mt of 0.161% Nb 2O5, and 197 g/t Ta 2O5
● Aley Carbonatite Niobium Deposit
Taseko Mines Ltd. (TSX: TKO)
Approximately 240km northwest of Wicheeda
Proven & Probable Resource: 83.8 mt of 0.5% Nb 2O5
● Wicheeda Rare Earth Elements Deposit
Spectrum Mining Corp. (private company)
Directly adjacent to Wicheeda to the northwest
Inferred Resource: 11.3 mt of 2.5% TREO (total rare earth element oxides)
About Niobium
Niobium is used in super-alloys, in particular the aerospace industry. Its primary
production and pricing is dominated by private prod ucers who operate in an opaque
market environment. These primary producers are dom inated by CBMM, privately
owned by the Salles family in Brazil. It produces a pproximately 85% of the world’s
niobium. Other Brazilian producers include China Molybdenum.
In April 2016, Anglo American plc. announced it had reached an agreement with China
Molybdenum Company Ltd. to sell its Niobium and Pho sphate businesses for a total
cash consideration of $1.5 billion. The Niobium bus iness comprises one mine and three
processing facilities, two non-operating mines, two further mineral deposits, and sales
and marketing operations in the United Kingdom and Singapore. Together, the
businesses generated EBITDA of $146 million in the year ended 31 December 2015.
Niobec is another primary niobium producer, located in Quebec and formerly owned by
Iamgold Corp.
Former Barrick Gold’s chief executive Aaron Regent, through his private equity-backed
Magris Resources Inc., bought the Niobec mine for US$530 million in 2015.
Qualified Person
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The technical data in this news release has been re viewed by Thomas Hasek, P. Eng.,
a Qualified Person under the terms of N.I. 43-101.
For further information, please contact:
Canadian International Minerals Inc.
Michael E. Schuss
President and CEO
Phone: 604-241-2254
Website: www.cin-v.com
Forward-looking Information
This news release contains projections and forward- looking information that involve
various risks and uncertainties regarding future ev ents. Such forward-looking
information can include without limitation statemen ts based on current expectations
involving a number of risks and uncertainties and a re not guarantees of future
performance of the Company. The following are impo rtant factors that could cause the
Company’s actual results to differ materially from those expressed or implied by such
forward looking statements; the uncertainty of futu re profitability; and the uncertainty of
access to additional capital. These risks and unce rtainties could cause actual results
and the Company's plans and objectives to differ ma terially from those expressed in the
forward-looking information. Actual results and future events could differ materially from
anticipated in such information. These and all sub sequent written and oral forward-
looking information are based on estimates and opin ions of management on the dates
they are made and expressed qualified in their enti rety by this notice. The Company
assumes no obligation to update forward-looking inf ormation should circumstances or
management's estimates or opinions change.
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adequacy or accuracy of this release.