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Niblack Mineral Development Inc.

Publié le 05 novembre 2007

2007 President'sLetter and Corporate Update

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Committee Bay Resources Ltd News Release

November 5, 2007

Committee Bay 2007 President's Letter and Corporate Update

Key Point Summary

  • Completed largest equity financing in Company’s history of CAD$15.1 million
     
  • Major advancements made toward commencing gold production in Australia
     
  • Drilling expanded the known Three Bluffs resource area
     

Corporate Highlights

This year has represented a period of intense exploration and development activity. In February, Committee Bay completed a CAD$15.1 million equity financing, the largest capital raising in the Company’s history. This capital underpins the major growth in the 2007 and 2008 exploration and development programs.

In the first 10 months of 2007, significant advancements have positioned the Company to commence gold production in Australia by early 2008. In addition, significant progress has been made on the flagship Committee Bay Project in Nunavut, Canada.

REDEMPTION JOINT VENTURE PROJECT (“RJV”), COOLGARDIE, AUSTRALIA

In April Committee Bay completed its 50% earn-in for the RJV project 18 months ahead of schedule by expending AUD$8 million.

Subsequent to the earn-in, the Joint Venture budgeted an additional AUD$8 million for exploration and development, demonstrating a strong commitment to advancing the project.   

Ongoing exploration utilizing modern integrated geological and geophysical techniques have led to new discoveries to underpin a longer term operation.

Resources have been upgraded at several key deposits, increasing the overall resources by nearly 20%, and additional drilling is ongoing to expand them further. At present, 37% of the gold resources are in the Indicated Category or greater, representing a higher confidence level for the defined resources. 

Three key RJV personnel, including General Manager, Exploration Manager, and Underground Manager were added in a highly competitive job environment, which speaks to the quality and progression of the project.

The new project management team selected Barminco Ltd. as the underground mining contractor to oversee the development of the underground decline, which was completed ahead of schedule and under budget.

In order to maintain flexibility and support near term production, ore treatment can be processed through the proximal Greenfields Mill while work is ongoing to refurbish the RJV’s Three Mile Hill Mill for long term production.

A Bankable Feasibility Study and a mine design utilizing a combination of cut and fill with long-hole stope mining for the Tindals Mining Centre is in progress and scheduled for completion by the end of November 2007. 

The RJV Project is on schedule to commence mining by March 2008.   

COMMITTEE BAY PROJECT, NUNVAT, CANADA

Committee Bay completed a successful CAD$6 million exploration program on its 100% owned Committee Bay Project.

Drilling at the Inuk high grade gold prospect intersected 11.18 g/t Au over 11 metres, confirming the continuity of wide lower grade portions.

Three Bluffs drilling confirmed continuity of the wide high-grade hinge zone and identified additional high grade in the fold limbs.

A Three Bluffs Resource estimate has been initiated and is expected to be completed in Q1 of 2008. An overall upgrade to the Indicated Category and the addition of new Inferred gold ounces is anticipated.    

Regional exploration significantly upgraded the Anuri- Muskox- Maro target areas.

A major exploration program expansion is warranted for 2008.

2008 Global initiatives

Committee Bay Resources Ltd. is continuously evaluating new worldwide gold projects and will continue advancing each asset in Canada, Australia and Argentina.  

On behalf of the Board
Committee Bay Resources Ltd.
/s/”John Williamson”
John Williamson, P.Geol.
President, CEO & Director


For further information, please contact Investor Relations:
Derek Iwanaka or John Pickersgill
Dial 604-646-4527 or toll-free 1-888-331-2269
**  WEBSITE:  http://www.committeebay.com/  **

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release

Certain disclosures in this release, including management's assessment of Committee Bay’s plans and projects, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Committee Bay's operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Committee Bay 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.

 

Niblack Mineral Development Inc.

PRODUCTEUR
CODE : NIB.V
ISIN : CA65365X1096
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Niblack Mineral est une société de production minière de zinc et d'or basée au Canada.

Niblack Mineral détient divers projets d'exploration au Canada et en Australie.

Ses principaux projets en production sont 3 BLUFFS au Canada et JAURDI HILLS en Australie et ses principaux projets en exploration sont BORDEN et NIBLACK au Canada et JAURDI HILLS (BLACK CAT) en Australie.

Niblack Mineral est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 15,5 millions CA$ (15,5 millions US$, 11,6 millions €).

La valeur de son action a atteint son plus haut niveau récent le 23 janvier 2004 à 9,95 CA$, et son plus bas niveau récent le 23 décembre 2011 à 0,16 CA$.

Niblack Mineral possède 35 977 000 actions en circulation.

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2008 Annual Report
Financements de Niblack Mineral Development Inc.
04/01/2012Announces Private Placement
Projets de Niblack Mineral Development Inc.
12/01/2012Announces Security holder Approval for Arrangement with Heat...
01/12/2011(Niblack)Supports As Heatherdale Explores Niblack Project Partnership...
31/08/2011(Niblack)Joint Venture Partner Completes Requirments To Secure 60% In...
22/08/2011Joint Venture Receives Priority Permitting Approval From US ...
16/03/2011(Niblack)Larger Niblack Mine Estimates Released
13/07/2010(Niblack)Expands Precious Metals-Enriched VMS Deposit
06/05/2008(Commitee Bay)Exploration Program Set for 2008 Committee Bay Greenstone Be...
30/04/2008(Coolgardie)Concludes Sale of Coolgardie Gold Project for Total Consider...
15/04/2008(Coolgardie)Focus Minerals Shareholders Approve Acquisition of Committee...
13/03/2008(Commitee Bay)Significant Resource Upgrade for Three Bluffs Deposit Commit...
19/02/2008(Coolgardie)Further Resource Upgrade For High-Grade Perseverance Gold De...
30/01/2008(Redemption)Enters Exclusivity Agreement Redemption Joint Venture Proje...
20/12/2007(Redemption)Perseverance Feasibility Study Yields Positive Result Base C...
12/12/2007Further High Grade Drill Results from Perseverance Deposit
31/10/2007(Commitee Bay)Final 2007 Three Bluffs Drilling Results: 9.29 g/t Au over 8...
09/10/2007Upgraded Resource Within the "Tindals Gold Mining Centre"
13/09/2007(3 Bluffs)Three Bluffs Drilling Continues to Expand Resource Potential
05/09/2007New High Grade Intersections Increase Size Potential of Inuk...
Communiqués de Presse de Niblack Mineral Development Inc.
19/01/2012Announces Acquisition by Heatherdale Resources Ltd.
16/12/2011Mails Information Circular
29/11/2011(Niblack)Joint Venture Announces 31% Increase To Total Mineral Resour...
26/10/2011(Niblack)Definitive Agreement Reached between Niblack and Heatherdale
28/07/2011(Niblack)Drilling Continues To Intersect & Expand Mineralization At N...
07/03/2011Announces 54% Increase to Mineral Resources
06/05/2010Amends Warrant Terms
30/07/2008Acquire Key Areas on Borden Project Airborne Magnetics Surve...
20/06/20082008 Committee Bay Exploration Program Initiated
06/02/2008 Will Be Exhibiting at the 2008 Phoenix Resource Investment ...
06/11/2007 Present at the 2007 Money Talks Conference
05/11/20072007 President'sLetter and Corporate Update
18/10/2007 to present at Toronto and New Orleans Investment Conference...
14/09/2007Drill Program Extended at Three Bluffs Deposit
06/09/2007Three Bluffs Drilling Delivers Outstanding Intercepts 19.44 ...
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