IDM Mining Files NI 43-101 Feasibility Study Technical Report for the Red Mountain Gold Project
August 10, 2017, Vancouver, BC – IDM Mining Ltd. (TSX-V:IDM) (OTCQB:IDMMF) today announced the completion and filing of the NI43-101 Feasibility Study Technical Report for the Company’s Red Mountain Gold Project, BC, Canada.
The Independent Technical Report was prepared by JDS Energy & Mining Inc., ARSENEAU Consulting Services Ltd, Knight Piesold Ltd. and SRK Consulting (Canada) Inc., following the guidelines of the Canadian Securities Administrators National Instrument 43-101 and Form 43-101F1.
The report titled “NI43-101 Feasibility Study Technical Report for the Red Mountain Project, British Columbia, Canada” is filed on SEDAR and can be viewed on the SEDAR website, www.sedar.com, and IDM’s website www.idmmining.com.
The information in this release related to the Independent Technical Report has been approved by Gord Doerksen, P. Eng, Michael Makarenko, P. Eng, Gilles Arseneau, P. Geo, Andrew Hamilton, P. Geo, Kelly McLeod, P. Eng, Ken Embree, P. Eng, Kelly Sexsmith, P. Geo and Bruce Murphy, P. Eng, who are independent Qualified Persons as defined under National Instrument 43-101.
ABOUT IDM MINING LTD.
IDM Mining Ltd. Is a mineral exploration and development company based in Vancouver, BC, Canada. The Company’s current exploration activities are focused on precious metals in British Columbia, with a primary focus on the high grade Red Mountain gold project which has entered the BC and Canadian environmental assessment process. Further information can be found on the Company’s website at www.IDMmining.com.
ON BEHALF OF THE BOARD
of IDM Mining Ltd.
President, CEO and Director
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“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
Forward-Looking Statements: Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others. statements with respect to the results of the feasibility study, including but not limited to, gold and silver price assumptions, exchange rate assumptions, cash flow forecasts, projected capital and operating costs, refining cots, royalties, credits, sustaining and closure costs, processing rates, metal or mineral recoveries, recovery methods, mine life and annual operating periods, construction and commissioning period and other anticipated timelines, closure and reclamation plans, production rates, estimated net present values, internal rates of return and payback periods; the Company’s potential plans and operating performance; the estimation of the tonnage, grades and content of deposits and the extent of the resource and reserve estimates; potential production and viability of the Red Mountain Project; environmental approval plans and anticipated timing of receipt of required environmental approvals; opportunities to enhance the value of the Red Mountain Project, capital cost reduction opportunities and other plans and objectives of IDM. 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 materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others and in addition to those described elsewhere in this release, delays in obtaining or inability to obtain required government or other regulatory approvals, permits or financing, the risk of unexpected variations in mineral resources or reserves, grade or recovery rates, of failure of plant, equipment, processes or infrastructure to operate as anticipated, of accidents, labor disputes, and unanticipated delays in completing other development activities, the risk that estimated costs will be higher than anticipated and the risk that the proposed mine plan and recoveries will not be achieved, equipment breakdowns and bad weather, the timing and success of future exploration and development activities, exploration and development risks, mineral resources and reserves are not as estimated, title matters, third party consents, operating hazards, metal prices, political and economic factors, actions by governmental or regulatory authorities including changes in tax laws or incentive programs, competitive factors and general economic conditions. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that: required approvals, permits and financing will be obtained on a timely basis; the proposed exploration and development will proceed as planned; with respect to mineral resource and reserve estimates, the key assumptions and parameters on which such estimates are based are accurate; that the proposed mine plan and recoveries will be achieved; that capital costs, sustaining costs, other costs referred to herein, royalties and taxes will be as estimated; and that no unforeseen accident, fire, ground instability, flooding, labor disruption, equipment failure, metallurgical, environmental or other events that could delay or increase the cost of development will occur, and market fundamentals will result in sustained metals and minerals prices. The forward-looking statements herein are made at the date of this release and the Company 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 except as otherwise required by applicable securities legislation.