Quality Control and Data Verification
Information of a scientific or technical nature relating to the PEA Study has been prepared by and under the supervision of Sylvie Poirier, P. Eng. of InnovExplo.
The data disclosed, including sampling, analytical and test data, as well as the current mineral resource estimate, were completed by Carl Pelletier, BSc, P.Geo and Kenneth Williamson, MSc, P.Geo of InnovExplo, independent qualified persons under NI 43-101 guidelines, using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on Mineral Resources and Reserves Definition and Guidelines.
Additional technical information and details regarding verification of data, including sampling, analytical and test data underlying the information herein, is contained in the "Technical Report" - Technical report and mineral resource estimate for the Duparquet Project and Beattie mine tailings (according to Regulation 43-101 and Form 43-101F1) prepared by InnovExplo and published on July 5, 2012, with effective date May 22, 2012, which can be found under Clifton Star's profile on www.sedar.com and on the company web-site.
The PEA Study was prepared by leading independent industry engineering firms and consultants, all Qualified Persons under National Instruments 43-101, with the collaboration of the Clifton Star Resources Technical Group.
InnovExplo Inc.: Resources estimation: Carl Pelletier, BSc, P.Geo Kenneth Williamson, MSc, P.Geo Pit design, mine planning, financial analysis, mining operating and capital and operating costs: Sylvie Poirier, P.Eng. Laurent Roy, P.Eng.P.J. Lafleur Geo-Conseil Pit design and mine planning: Pierre-Jean Lafleur, P.EngDreisinger Consulting and Bateman (Tenova Mining and Minerals) Metallurgical Process and Flowsheet David Dreisinger, B.A.Sc., Ph.D., P.Eng.Stavibel Environment, mine closure (Operating and Capital Cost Estimates) Marc Arpin, M. Sc., M.Env., P.Geo.
The content of this news release has been reviewed and approved by Sylvie Poirier, P. Eng. and Carl Pelletier, BSc, P.Geo, Qualified Persons as defined by National Instrument 43-101.
The PEA report will be posted on Clifton Star's website at www.cfo-star.com and on SEDAR at www.sedar.com, within a 45 day period following this news release.
All other information previously released on Duparquet is also available on Clifton Star's website at www.cfo-star.com
Cautionary Statement on Forward Looking Information
Certain information included in this press release, including any information as to our future exploration, financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. The words 'expect', 'believe', 'will', 'intend', 'estimate' and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies, including the possibility that drill programs will not yield the expected results. The Company cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of Clifton Star Resources to be materially different from the Company's estimated future results, performance or achievements expressed or implied by those forward-looking statements and that the forward-looking statements are not guarantees of future performance. These statements are also based on certain factors and assumptions. For more details on these estimates, risks, assumptions and factors, see the Company's most recent Form 20-F/Annual Information Form on file with the U.S. Securities and Exchange Commission and Canadian provincial securities regulatory authorities. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except as expressly required by law. Readers are cautioned not to put undue reliance on these forward-looking statements.
Neither the TSX Venture Exchange nor its Regulations Services Provider (as the term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Michel F. Bouchard - President and CEO
Clifton Star Resources Inc.