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May 6, 2010
Niblack Mineral
Development Inc. Amends Warrant Terms
Niblack
Mineral Development Inc. (NIB:TSXV) (�Niblack�) is pleased to announce
that the TSX Venture Exchange (the �Exchange�) has consented to a reduction
of the exercise price of certain of Niblack�s outstanding share purchase
warrants (�Warrants�) issued as part of the private placement which closed on
December 11, 2009. Warrants to acquire an aggregate of 3,933,700 common
shares of Niblack (�Common Shares�) currently exercisable at a price of $0.65
per Common Share, will be re-priced such that they are exercisable at $0.45
per Common Share.
In connection
with the re-pricing, the Exchange has required that the forced exercise
provision of the Warrants also be amended. The Warrants will now expire on
December 11, 2014, unless the closing price of the Common Shares on the
Exchange is greater than $0.5625 for a period of 10 consecutive trading days
(the �Premium Trading Days�), whereupon the Warrants will expire if not
exercised within 30 days following 7 calendar day after the 10th Premium
Trading Day. No notice by Niblack is required to trigger the forced exercise.
An aggregate
of 179,140 Warrants held by Insiders of Niblack will not be repriced and will
not be subject to the amended forced exercise provision.
About
Niblack Mineral Developments Inc.
Niblack
Mineral Development Inc. (NIB: TSX-V) is an exploration and development
company whose principal asset is the Niblack advanced stage
copper-gold-zinc-silver project in southeast Alaska. This project is held by
Niblack Mineral Development Inc. (formerly CBR Gold Corp) and joint venture
partner Heatherdale Resources Limited, a Hunter Dickinson company with the
right to earn a 70% interest in the project. The property comprises a NI
43-101 compliant resource and contiguous land package comprising 3,300 acres
with excellent potential to expand the current resource base.
Niblack
Mineral Developments Inc. is a member of the Discovery Group of companies,
for more information on the group visit www.discoveryexp.com.
On behalf of
the Board Niblack Mineral Developments Inc. /s/�John Williamson� President,
CEO & Director
EDMONTON
CORPORATE OFFICE:
SUITE 220-9797
45TH AVENUE | EDMONTON | AB | T6E 5V8
PHONE: 780-437-6624 | FAX: 780-439-7308
VANCOUVER
OFFICE:
SUITE 1440-625
HOWE STREET | VANCOUVER | BC | V6C 2T6
PHONE: 604-646-4524 | FAX: 604-646-4526
WWW.NIBLACK.COM
For further
information about Niblack Mineral Developments Inc. or this news release,
please contact:
Brian Budd
Director of Corp. Development
Email: @niblack.
Tel. 604-646-4525 or toll-free 1-888-331-2269
Website: .niblack.
"Neither
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. Factors that could cause actual results to differ materially from
those in forward-looking statements include market prices, 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.
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