Continuing Resource Expansion
The Lac 50 Trend is a three kilometre wide by 15 kilometre long southeast striking structural trend within Archean volcanic rocks adjacent to an unconformity with Proterozoic sediments of the Angikuni sub-basin.
The Lac 50 Trend hosts five deposits which comprise the current NI 43-101 Inferred Resource Estimate, two of which were discovered, drilled and converted into resources in 2012. The Lac 50 Trend is also host to six additional uranium occurrences discovered by Kivalliq since 2010 and numerous high priority targets not yet tested.
On September 24, 2012, Kivalliq announced the completion of its aggressive 2012 exploration program including 38,856 metres of core and reverse circulation ("RC") drilling, which focused on adding inferred resources and testing new targets within the Lac 50 Trend. Kivalliq has demonstrated expansion potential within the Lac 50 Trend by increasing the contained U3O8 in the maiden inferred resource by more than 300% in the past two years. In addition, Kivalliq's exploration programs have consistently identified new mineralized zones, validating the "District Scale" potential of the Angilak Property.
The information in this release related to the mineral resource estimate has been approved by Robert Sim, P.Geo of SIM Geological Inc., who is an independent Qualified Person as defined under National Instrument 43-101. Jeff Ward, P.Geo, President of Kivalliq and a Qualified Person, has reviewed and approved the scientific and technical information contained in this release.
About Kivalliq Energy
Kivalliq Energy Corporation (TSX VENTURE: KIV) is a Vancouver-based uranium exploration company holding Canada's highest grade uranium deposit outside of Saskatchewan's Athabasca Basin. Its flagship project, the 340,268 acre Angilak Property in Nunavut Territory, hosts the Lac 50 Trend with a NI 43-101 Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8, totaling 43.3 million pounds U3O8. Kivalliq's comprehensive exploration programs continue to advance the Lac 50 Trend and demonstrate the "District Scale" potential of the Angilak Property.
Kivalliq's team of northern exploration specialists have forged strong relationships with sophisticated resource sector investors and project partner Nunavut Tunngavik Inc. ("NTI") in order to advance the Angilak Property. Kivalliq was the first company to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory, Canada and is committed to building shareholder value while adhering to high levels of environmental and safety standards and proactive local community engagement.
On behalf of the Board of Directors
James R. Paterson, CEO
Kivalliq Energy Corporation
Kivalliq Energy Corporation is a member of the Aurora Mineral Resource Group of companies. For further information about Kivalliq Energy Corporation or this news release, please visit our websites at www.kivalliqenergy.com and www.auroraresource.com.
Certain disclosures in this release, including the growth and value of the Angilak Property, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kivalliq's operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to market price of Kivalliq's securities and the market for securities of resource exploration companies in general; commodity prices and, in particular, the price of uranium and the completion of Kivalliq's plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Other than as required by applicable securities legislation, Kivalliq expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.
Cautionary Note concerning estimates of Inferred Resources:
This news release uses the term "inferred resources". Inferred resources have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Kivalliq advises U.S. investors that while this term is recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize it. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.
Kivalliq Energy Corporation
604.646.4527 or Toll Free: 1.888.331.2269
www.kivalliqenergy.com and www.auroraresource.com
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