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Canadian International Minerals Inc. Announces Manitou Cobalt Project Transaction with Clean Commodities Corp.

22.02.2017  |  The Newswire
Vancouver, February 22, 2017 - Canadian International Minerals Inc. (TSX-V: CIN) ("Canadian International" or the "Corporation") is pleased to announced that it has entered into an agreement with Clean Commodities Corp. ("Clean Commodities") in which Clean Commodities will acquire a 50% interest in the drill-ready Manitou Cobalt Project.

Highlights:

  • -Project was previously held by Kaminak Gold Corp. ("Kaminak") (since acquired by Goldcorp).

    -Historic cobalt sample of 0.46% Co.

    -AeroTEM II survey by Kaminak identified numerous conductors believed to be caused by magmatic sulphides.

    -Additional high-grade historic samples of up to 3.19% Cu, 1.06% Ni, and 4 g/t Pt-Pd-Au.

    -Inaugural field sampling/mapping work program planned for late-Q2/early-Q3 2017, funded by Clean Commodities.

    -An objective of the upcoming field program will be to confirm drill site locations previously identified by Kaminak for a potential drill campaign in Q3 2017, funded under a JV structure.

"The Manitou Cobalt-Nickel-PGE project is an advanced exploration project which has attracted considerable technical interest within our industry. We are pleased to be working with Canadian International to move this high-impact nickel-cobalt exploration project forward during 2017," commented Ryan Kalt, Chief Executive Officer of Clean Commodities Corp.

About the Manitou Cobalt-Nickel-PGE Project:

The Manitou Cobalt-Nickel-PGE Project is located in Quebec, Canada and consists of two sub-project areas, Manitou and Return Lake. The Manitou project area encompasses one claim block totaling 2,174 ha and the Return Lake project area encompasses four claim blocks totaling 1,577 ha (see Figure 1).

At Manitou, initial priority will be assigned to four target areas identified by way of past work by Kaminak, referenced as the NE1, NE2, NE3 and NE7 targets, including enhancement of our confidence in the proposed drill targets and collar locations.

At Return Lake, initial interest is the examination of a large-scale EM anomaly defined by Kaminak and referenced as the C1 target (see Figure 2). The target coincides with an olivine-showing cross-referenced to government data in the central portion of the anomaly which may correlate to a mafic/ultramafic intrusion.

Additional project information can be found through the following Canadian International presentation:

http://ow.ly/RfrG309dYIA

Transaction Terms:

Under the agreement, Clean Commodities will finance an inaugural sampling/mapping exploration program at the project of no less than $50,000, as well as pay for certain claim renewal fees. Subsequent to the initial exploration program, Clean Commodities and Canadian International shall jointly conduct exploration at the project under a 50/50 joint-venture arrangement, subject to customary conditions and with Clean Commodities as the initial Operator.

Qualified Person

Thomas Hasek, P.Eng., a Technical Advisor of Canadian International and a Qualified Person (Q.P.) under National Instrument 43-101, has reviewed and approved the technical information provided in this news release.

About Canadian International Minerals Inc.

Canadian International Minerals Inc. (TSX-V: CIN) is a junior mining exploration company focused on early-stage exploration projects. For more information, please visit www.cin-v.com

Signed,

Michael E. Schuss, Chief Executive Officer

Forward-Looking Statements


This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently expected or forecast in such statements.


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.


Contact Info:

Michael E. Schuss

President & Chief Executive Officers

604-241-2254

info@cin-v.com
www.cleancommodities.com

Copyright (c) 2017 TheNewswire - All rights reserved.

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