Alaska Governor signs bill for Aidea financing of Heatherdale's Niblack Project
Published : June 18, 2014
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Alaska Governor signs bill for Aidea financing of Heatherdale's Niblack Project

VANCOUVER, June 18, 2014 /CNW/ - Heatherdale Resources Ltd. ("Heatherdale" or the "Company") (TSXV:HTR) advises that Senate Bill 99 ("SB99"), authorizing the Alaska Industrial Development and Export Authority ("AIDEA") to issue bonds to finance up to $125 million in infrastructure that would support development of Heatherdale's Niblack Copper-Gold-Zinc-Silver Project, was signed into law by Alaska State Governor Sean Parnell on June 16, 2014.

"This legislation will go a long way toward creating new opportunities for Alaskans and growing Southeast Alaska's economy as a whole," Governor Parnell said. "By authorizing AIDEA to issue bonds for the Bokan and Niblack mines, as well as the Blue Lake Expansion Project, we are moving these critical projects, and the many jobs they will create, one step closer to reality. I want to especially commend Senator Lesil McGuire for her work on this crucial legislation."

SB99, introduced by Senator Lesil McGuire, R-Anchorage and amended by Senator Bert Stedman, R-Sitka, was unanimously passed during the recent session of the Alaska State Legislature.  The bill provides AIDEA with the ability to provide financing for the Niblack and Bokan mining projects in Southeast Alaska as well as a loan to the Blue Lake Hydroelectric Project near Sitka, Alaska.

Senator McGuire emphasized the important role that natural resources play in regional development in Alaska.  "This bill isn't just about mining or electricity - it's about giving a big boost to the economy of Southeast Alaska," said Senator McGuire.

In the case of Niblack, the bill allows AIDEA to issue bonds to finance up to $125 million of the cost for constructing key infrastructure, including a mineral processing mill, and associated dock, loading and related infrastructure facilities at the Gravina Island Industrial Complex, and other facilities at the Niblack Project site on Prince of Wales Island.  AIDEA must still go through its conventional project evaluation and due diligence process prior to authorizing the infrastructure financing for the Niblack Project.

The bill was signed during a luncheon hosted by the Greater Ketchikan Chamber of Commerce at the Cape Fox Lodge in KetchikanHeatherdale President and CEO Patrick Smith attended the luncheon.

"I am very pleased that the bill has now been signed into law and with the strong support that the Niblack Project has received through the legislative process," said Smith.  "We appreciate the efforts of Governor Parnell and the Alaska legislators as well as the local officials, businesses and individual citizens who supported the legislation. A project like Niblack would create a significant number of new jobs for the region and the state. We look forward to securing a strategic partner, and moving into permitting, construction and operations at Niblack in the months and years ahead."     

About Niblack

The Niblack Project is located on tidewater near Ketchikan on Prince of Wales Island in Southeast Alaska, an area with a skilled workforce, excellent power and transportation infrastructure as well as a long history of public and official support for responsible mineral resource development and mining.

Since 2009, Heatherdale has invested some $37 million and drilled more than 200,000 feet of core to define 5.6 million tonnes of Indicated and 3.4 million tonnes of Inferred mineral resources1 at Niblack. While possessing significant potential for expansion, the known mineral resources at Niblack provide a solid basis for the initiation of engineering, environmental baseline and other technical studies necessary for project planning and permitting.

About Heatherdale

Heatherdale Resources Ltd. is a Vancouver-based exploration and development company focused on advancing its high-grade mine development opportunity at the Niblack Project. The Company is associated with the Hunter Dickinson group, which has a track record of successful mineral exploration and development projects around the world.

On behalf of the Board of Directors
Patrick Smith
President and CEO

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.

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Assumptions used by the Company to develop forward-looking statements include the following: the Niblack project will obtain all required environmental and other permits and all land use and other licenses, studies and exploration of the Niblack project will continue to be positive, and no geological or technical problems will occur.  Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, potential environmental issues or liabilities associated with exploration, development and mining activities, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.


1 Indicated grades 0.95% copper, 1.75 g/t gold, 1.73% zinc, 29.52 g/t silver and inferred grades 0.81% copper, 1.32 g/t gold, 1.29% zinc, 20.10 g/t silver at a US$50 NSR cut-off. For further details see the Heatherdale November 29, 2011 news release.



 

SOURCE Heatherdale Resources Ltd.

For further information:

on Heatherdale, visit the Company's website at www.heatherdaleresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.

Heatherdale Resources Ltd.

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CODE : HTR.V
ISIN : CA42245Q1090
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Heatherdale is a zinc and lead exploration company based in Canada.

Heatherdale develops zinc, lead, copper, gold and silver in USA.

Its main asset in development is NIBLACK COPPER CO. in USA and its main exploration property is DELTA in USA.

Heatherdale is listed in Canada. Its market capitalisation is CA$ 175.2 millions as of today (US$ 140.2 millions, € 116.4 millions).

Its stock quote reached its highest recent level on March 12, 2010 at CA$ 1.94, and its lowest recent point on February 05, 2016 at CA$ 0.01.

Heatherdale has 180 600 000 shares outstanding.

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Financings of Heatherdale Resources Ltd.
3/24/2014Alaska State Senate Committee approves provision related to ...
5/16/2011(TSX-V: HTR) Arranges Up To $25 Million Non-Brokered Financi...
11/16/2010Arranges $6 Million Non-Brokered Financing
Option Grants of Heatherdale Resources Ltd.
7/18/2011 Grants 120,000 options to a director of the company
Nominations of Heatherdale Resources Ltd.
5/10/2011(TSXV: HTR) AGM Results: Two New Members Join the Board, Oth...
Project news of Heatherdale Resources Ltd.
3/27/2014Senate passes bill authorizing mine financing
5/2/2013(Delta)(TSX-V: HTR) Returns Delta Project
5/2/2013(Delta)Returns Delta Project
10/1/2012SIGNS MEMORANDUM OF UNDERSTANDING ON PREFFERED INFRASTRUCTUR...
7/16/2012INITIATES 2012 DRILL PROGRAM & PROVIDES UPDATE ON ALASKA’S N...
12/1/2011EXPLORES NIBLACK PROJECT PARTNERSHIP OPPORTUNITIES IN SOUTHE...
11/29/2011ANNOUNCES 31% INCREASE TO TOTAL MINERAL RESOURCE TONNAGE AT ...
10/5/2011(TSX-V: HTR): Heatherdale and Niblack Agree to Terms for Fr...
8/31/2011Completes Requirements To Secure 60% Interest In Niblack Pro...
8/18/2011(Delta)(TSX-V: HTR) Initiates Drilling at Delta VMS Project, Alaska
3/16/2011(TSXV: HTR): “Larger Niblack mine estimates released” audio ...
3/14/2011(Niblack Copper Co.)announces 54% increase to mineral resources at Niblack
2/22/2011(Delta)AS NIBLACK ADVANCES, HEATHERDALE ADDS ANOTHER
1/25/2011(Niblack Copper Co.)' Drilling Intersects High Grade While Expanding Lookout Zon...
Corporate news of Heatherdale Resources Ltd.
6/10/2016Heatherdale Corporate Update
4/19/2016Heatherdale Announces Loan
4/1/2016Heatherdale Announces Resignation of President & CEO
12/18/2015Heatherdale Corporate Update
8/28/2015Heatherdale Corporate Update
8/15/2015Heatherdale announces loans
2/13/2015Heatherdale announces share issuances related to convertible...
1/16/2015Heatherdale Files 2014 Year End Materials
12/24/2014Heatherdale and Sino Canada amend convertible debenture
6/19/2014(TSX-V: HTR): Alaska Governor Signs Bill for AIDEA Financing...
6/18/2014Alaska Governor signs bill for Aidea financing of Heatherdal...
5/6/2014Alaska State Legislature unanimously supports mineral develo...
4/23/2014closes $1.1 million non-brokered financing
4/23/2014Heatherdale closes $1.1 million non-brokered financing
4/7/2014announces $1 million non-brokered financing
4/7/2014Heatherdale announces $1 million non-brokered financing
3/24/2014Alaska State Senate Committee approves provision related to ...
10/10/2013/R E P E A T -- Heatherdale Signs MOU with Alaska Industrial...
10/1/2012signs Memorandum of Understanding on preffered infrastructur...
9/14/2012Announces Increase in Exercise Price of Options
1/17/2012(TSX-V: HTR): Heatherdale-Niblack Plan Of Arrangement Appro...
10/26/2011(TSX-V: HTR) and Niblack Enter Into Definitive Arrangement A...
8/22/2011receives priority permitting approval from US Forest Service
7/28/2011(TSX-V: HTR) Drilling Continues to Intersect & Expand Minera...
6/15/2011CLOSES $9.3 MILLION FINANCING
5/9/2011COMPLETES ACQUISITION OF HUNTER DICKINSON ACQUISITIONS INC.
3/30/2011ANNOUNCES GRANT OF OPTIONS
12/1/2010CLOSES $7.9 MILLION FINANCING
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