13236 Cliffstone Court
CANADA
13236 Cliffstone Court
Lake Country BC V4V 2R1
Tel: 250-766-1517
Fax: 250-766-1839
www.sierrairon.com
NEWS RELEASE
July 31, 2017 Symbol:-TSX-V: CLM
CRYSTAL LAKE MINING
Vancouver, BC – Crystal Lake Mining Corporation (the “Company”)
In a settlement agreement (the “Agreement”) with the British Columbia Securities Commission (BCSC),
Mr. Wally Boguski admitted responsibility for certain deficient disclosures of resource-based information
on behalf of two junior mineral exploration companies.
Mr. Boguski was a B.C. resident during the relevant period and the president, CEO, and a director of both
Victory Resources Corporation (“Victory”) and Sierra Iron Ore Corporation (“Sierra”) (now known as
Crystal Lake Mining Corporation (“Crystal Lake”)). Mr. Boguski is the President, CEO, and a director of
Crystal Lake.
The Agreement states that between 2011 and 2013, Mr. Boguski allowed both Victory and Sierra to issue
disclosure that contained deficiencies and errors, in contravention of various provisi ons of National
Instrument 43- 101 Standards of Disclosure for Mineral Projects (NI 43 -101). NI 43 -101 provides a
structured framework for presenting mining resource estimates, capital and operating costs and economic
analysis. As the senior director and officer of Victory and Sierra at the relevant time, Boguski was
responsible for ensuring compliance with NI 43-101.
The agreement acknowledges that Boguski cooperated with BCSC staff throughout the disclosure reviews
and made efforts to comply with staff directions.
Boguski has undertaken to pay $20,000 in respect of settlement of this matter. He is also banned from acting
as a director or officer of any issuer ( other than Crystal Lake) until July 20, 2018, or the successful
completion of a course on the requirements of NI 43-101, whichever is later.
Crystal Lake has arranged for the addition of two respected senior executives to its Board and expects to
make announcements shortly.
About the Company
Crystal Lake Mining Corporation is a mineral exploration company focused on creating value through the
exploration and development of its British Columbia and Ontario mineral properties.
CANADA
13236 Cliffstone Court
Lake Country BC V4V 2R1
Tel: 250-766-1517
Fax: 250-766-1839
www.sierrairon.com
On behalf of The Board of Directors of Crystal Lake Mining Corporation.
Robert Michor, Director
This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under
the control of Crystal Lake Mining Corporation which may cause actual results, performance or achievements of Crystal Lake Mining
Corporation on to be materially different from the results, performance or expectation implied by these forward looking statements.
Neither 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 press release, which has been prepared by management..