Northcliff Provides Project Update ON the Sisson Project
NORTHCLIFF PROVIDES PROJECT UPDATE ON THE SISSON PROJECT
April 17, 2018 Vancouver, BC - Northcliff Resources Ltd. (“Northcliff” or the “Company”) (TSX: NCF),
on behalf of Sisson Mines Ltd., the general partner of the Sisson Project Limited Partnership (the
“Partnership”) is pleased to provide a project update on the Company’s Sisson Tungsten -Molybdenum
Project (the “Sisson Project”).
Since the positive federal environmental assessment (“EIA”) decision in mid-2017 (see Northcliff news
release dated June 23, 2017), the Partnership has been engaged in advancing various key permits
needed for the next stage of development. The Company reports that the MMER Schedule 2 amendment
process is proceeding with the required consultation, led by Environment Canada and Climate Change
(ECCC), and looks forward to a timely conclusion. In parallel, the Partnership is working with the province
and advanc ing its applications for the Crownland and Mining Leases needed for construction and
operation of a mine.
Ongoing engineering studies are also underway to further optimize the project; this work is focused
primarily on reducing capital and operating costs. The Partnership is also now well advanced in its multi-
year metallurgical optimization program conducted under the planning and supervision of Bomenco
Minerals Engineering & Consulting Inc. (“Bomenco”) at the Lakefield, Ontario facility of SGS Mineral
Services Canada. Bomenco has long-term involvement with the Sisson Project, beginning in 2008 and
continuing since Northcliff earned in its interest in 2010, including the 2013 Sisson Project feasibility
study. The objective of this metallurgical program is to assess the potential to improve the grade of t he
tungsten concentrate produced by the proposed concentrator for the Sisson Project, while maintaining
metallurgically optimal tungsten recoveries.
The commodity prices for Sisson’s products have recovered from their lows in 2015; Ammonium
Paratungstate (APT) prices have recently traded at $330/mtu (London Metals Bulletin) with molybdenum
prices reaching $12.50/lb (Platts Metals Daily ). Mid to long er term fundamentals for tungsten and
molybdenum remain robust, including price forecasts.
Discussions with potential offtake groups continue in parallel with project financing efforts.
In the meantime, the Partnership’s work with local N ew Brunswick groups on various initiatives are
ongoing; these initiatives include education, training and environmental monitoring some of which are
included in the provincial EIA conditions. As well, the Partnership is working with Woodstock First Nation
in accordance with the Cooperation Agreement (see Northcliff news release March 2, 2017) . The
Company looks forward to c ompleting the key permit requirements in a timely manner and in the
meantime, it will remain focused on the other activities required to move the project towards construction.
About Northcliff Resources Ltd.
Northcliff, associated with Hunter Dickinson In c. (HDI), is a mineral resource company focused on
advancing the Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to production.
The r esults of the Feasibility Study completed in January 2013 confirm that the Sisson Project is
technically and economically feasible and can move on to the next stage of development.
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Additional information on Northcliff is available on the website at www.northcliffresources.com. Investor
services can be reached at (604) 684-6365 or within North America at 1-800-667-2114.
Christopher Zahovskis
President & CEO
This release includes certain statements that may be deemed "forward -looking statements". All statements in this release, other than
statements of historical facts, that address the in -progress financing, permitting, exploration drilling, exploitation acti vities and events or
developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in
such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and
actual results or developments may differ materially from those in the forward-looking statements. Assumptions used by the Company to
develop forward-looking statements include the following: the Sisson Project will obtain all re quired environmental and other permits for
construction of the mine, the Sisson Project will achieve targeted production levels; the Company's study and development of the Sisson
Project will continue to be positive; contracted parties provide goods and/or services on the agreed timeframes; equipment necessary for
construction and development is available and does not incur unforeseen breakdowns; no material labour slowdowns or strikes a re
incurred; plant and equipment functions as specified; geological or financial parameters do not necessitate future mine plan changes; and
no geological or technical problems occur. Factors that could cause actual results to differ materially from those in forwar d-looking
statements include uncertainty of shareholder suppo rt, the need for judicial and regulatory approvals, fluctuations in market prices,
exploitation and exploration successes, continuity of mineralization, potential environmental issues and liabilities associat ed with
exploration, development and mining activities, uncertainties related to the ability to obtain necessary environmental, land use and other
permits, approvals, licenses and title on a timely basis and delays due to third party opposition, and development of propert ies located
within First Nations treaty and asserted territories may affect or be perceived to affect treaty and asserted aboriginal rights and title, which
may cause permitting delays or opposition by First Nations communities, changes in government policies regarding mining and natural
resource exploration and exploitation, continued availability of capital and financing, and general economic, market or business conditions.
Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ
materially from those projected in the forward -looking statements. For more information on the Company, investors should review the
Company's continuous disclosure filings that are available at www.sedar.com.