Callinex Issues Year-End Letter to Shareholders
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Callinex Issues Year-End Letter to Shareholders
Vancouver, British Columbia – January 11, 201 6 – Callinex Mines Inc. (the “Company” or
“Callinex”) (TSX -V: CNX; OTCQX: C LLXF) is pleased to pro vide its year -end letter to
shareholders from President and CEO, Max Porterfield:
Dear Shareholders,
I would like to thank you for your continued support of Callinex and our management team. The
past year has been a transformative period as the Company has executed on its exploration and
acquisition goals to better position itself within the base and precious metals markets.
During 2016 we completed several successful exploration programs throughout our project
portfolio and acquired a large resource base o f zinc rich assets in Canada. The Company’s
portfolio now consists of four highly prospective projects: Pine Bay, Nash Creek, Superjack and
Point Leamington. These projects have the potential to discover and /or develop economic
polymetallic volcanogenic massive sulphide deposits within established mining jurisdictions.
The majority of exploration over the past year focused on the Pine B ay Project where we
completed approximately 12,000m of drilling that led to two new discoveries. These exploration
campaigns enhanced the prospects for a significant economic discovery along two productive
horizons. Our immediate focus is to follow -up on the intersection from drill hole 284 -3-93-DPN
which intersected 10.3m of 13.1% Zn Eq. at the edge of one of the largest alte ration zones within
the Flin Flon Greenstone Belt (See News Release dated November 1, 2016) . The strength of
mineralization and precious metal grades were new developments for the project and indicate the
system is more robust than previously known. We are eager to follow-up on this intersection while
also systematically testing the newly identified and un derexplored potential of the Pine Bay
Project.
Additionally, we completed initial work programs at our Nash Creek, Superjac k and Point
Leamington projects to further de -risk these assets and prioritize future exploration work . At the
Nash Creek Project we published an updated resource estimate that increased the tonnage and
grade of the indicated mineral resource (See News Release dated November 9, 2016) . Given
current zinc prices, the Company will ev aluate options for completing a Preliminary Economic
Assessment on the project during 2017. Work completed at the nearby Superjack Project
included two borehole surveys that suggest the high -grade mineralization extends at depth. We
believe these projects are attractive given their location and exploration potential within an
increasingly favorable lo ng-term outlook for base metals. In particular, z inc was one of the top
performing metals in 2016 and it is expected that the supply-demand deficit will widen further this
year.
Heading into the New Year, Callinex remains a leading mineral exploration company as a result
of its quality project portfolio located within established mining jurisdictions, world -renowned
technical team, supportive shareholder base and strong treasury. The Company is well positioned
to achieve its goals in 2017 and we appreciate and encourage your ongoing support.
Sincerely,
“Max Porterfield”
President & CEO
About Callinex Mines Inc.
Callinex Mines Inc. is focused on discovering and developing zinc and copper rich mines within
prolific Canadian VMS mining jurisdictions. The Company is actively exploring its Pine Bay
Project, located in the Flin Flon mining district of Manitoba, which hosts s ignificant historic VMS
deposits that are within close proximity to a processing facility. The larger project portfolio hosts
three significant zinc rich mineral resources including the Point Leamington, Nash Creek and
Superjack Projects located in Eastern Canada.
For additional information, please contact:
Callinex Mines Inc.
Max Porterfield, President and Chief Executive Officer
Phone: (604) 605-0885
E-mail: [email protected]
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.
Some statements in this news release contain forward -looking information. These statements include, but
are not limited to, statements with respect to future expenditures. These statements address future events
and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements to be mater ially different from any future results,
performance or achievements expressed or implied by the statements. Such factors include, among others,
the ability to complete the proposed drill program and the timing and amount of expenditures. Except as
required under applicable securities laws, Callinex does not assume the obligation to update any forward -
looking statement.