TORONTO, June 9, 2011 /CNW/ - Cline Mining Corporation ("Cline Mining" or the "Company") (TSX: CMK) wishes to announce that it has filed on SEDAR an updated National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") report titled "NI 43-101 Technical Report, New Elk Mine Project, Los Animas County Colorado, USA Prepared for New Elk Coal Company LLC, subsidiary of Cline Mining Corporation" dated May 27, 2011 (the "2011 Technical Report") prepared by Leo Gilbride, P.E. and Timothy A. Ross, P.E., of Agapito Associates Inc., qualified persons (the "Qualified Persons"), reporting 191.2 million tons measured and 197.3 million tons of indicated in-place coal.
This 2011 Technical Report supersedes all earlier technical reports in respect of the New Elk Coal Mine including the technical report dated May 20, 2011 prepared by the Qualified Persons. The 2011 Technical Report provides additional data and information concerning the New Elk Mine and does not contain any substantive changes or materially adverse differences from the discussion in the technical report dated May 20, 2011. The additional descriptive elements clarify certain information in response to comments made by the Ontario Securities Commission in relation to the Company's short form prospectus offering which closed on June 7, 2011.
Copies of the technical report dated May 20, 2011 and the 2011 Technical Report can be obtained under the Company's profile on SEDAR at www.sedar.com. The Company's business and results of operations are tied to general economic and industry conditions and the Company does not have any adverse corporate developments to report that could explain recent share price fluctuations.
About Cline: Cline has significant metallurgical coal property interests in British Columbia, Canada and in Colorado, U.S.A. with NI 43-101 compliant independent Technical Reports. Cline Mining Corporation is a mine development company focused on the exploration and development of metallurgical steel making coals in Canada and the U.S., iron ore in Madagascar and the Cline Lake Gold Mine Property in northern Ontario, Canada.
CLINE MINING CORPORATION
Ken Bates, President and Chief Executive Officer
Forward-Looking Information
This news release may contain forward-looking statements (including "forward-looking information" within the meaning of applicable Canadian securities laws), including without limitation, the magnitude or quality of mineral deposits, the economic assessment and estimates regarding the mine life of the New Elk coal mine, and the timing and completion of financings. The timing of drilling and work recommended by the 2011 Technical Report is based on current internal expectations, which may prove to be incorrect. Other risk factors are discussed under "Risk Factors" in Cline's Annual Information Form for its 2010 financial year end, and include management's ability to anticipate and manage risk factors. Such forward-looking statements necessarily involve known and unknown risks and uncertainties that are common to junior mineral exploration companies. These risks and uncertainties include, among other things, the Company's need for additional funding to continue its exploration efforts, changes in general economic, market and business conditions, and competition for, among other things, capital and skilled personnel. These statements are not a guarantee of future performance and undue reliance should not be placed on them. The Company undertakes no obligation to update or revise any forward-looking statements except as required by applicable laws. Copies of the Company's public filings under applicable Canadian securities laws are available at www.sedar.com. The Company further cautions that information contained on, or accessible through, this website is current only as of the date of filing such information and may be superseded by subsequent events or filings.
