TORONTO, ONTARIO--(Marketwire - Nov. 20, 2008) - CROWFLIGHT MINERALS INC. (Crowflight, the Company) (TSX VENTURE:CML) today provided an update on the progress being made at the Bucko Lake Nickel Mine located near Wabowden, Manitoba.
Commissioning activities continue at the Bucko Lake Nickel Mine. Expectations are to ramp up production during the remainder of 2008 to declare full commercial production during the first quarter of 2009. The commissioning status is as follows:
- Mill commissioning has been underway since early September.
- Ore is currently being mined and stockpiled in preparation for mill start-up. Ore from the first production stopes has been developed and production mining should begin shortly.
- The main ventilation raise broke through to surface in late October.
- The commissioning of the crushing and grinding areas is essentially complete with minor modifications on-going.
- The flotation circuit is close to being fully commissioned and a low grade flotation concentrate was produced on November 18th. Work in the next week will involve further commissioning of the flotation circuit to produce a marketable nickel concentrate.
- The concentrate filtration area is mechanically and electrically complete and will now undergo final commissioning.
- Completion of the mill automation is expected to be finalized by early December.
- The interim tailings storage facility is complete and water is being stockpiled for reclamation in the storage facility.
- The assay lab will be complete next week.
- Final commissioning of the mill is expected to be complete in the next few weeks and ramp up to full production will continue through 2008 and early 2009.
- Conducted mill training and hired 10 local residents for mill operations.
Commented Paul Keller, Crowflight's Vice President Operations and COO, "The mill commissioning has progressed reasonably well to date with the equipment functioning as designed. We have been making modifications as we go and to date, we have not encountered any issues that will prevent us from ramping up to full production. We have taken efforts to maximize the number of people we hire from the local area and we are pleased with the quality and attitude of our new employees. We are looking forward to reaching full production and producing positive cash flow."
Crowflight Minerals - Canada's Next Nickel Producer
Crowflight Minerals Inc. (TSX VENTURE:CML) is a Canadian junior mining company that is bringing the Bucko Lake Nickel Mine near Wabowden, Manitoba into production. Full commercial production is expected to be achieved at Bucko in early 2009. The Company is also focused on nickel, copper and Platinum Group Mineral (PGM) projects in the Thompson Nickel Belt and Sudbury Basin.
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding estimated capital and operating costs, expected production timeline, benefits of updated development plans, foreign exchange assumptions and regulatory approvals. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Further information is available on the Company's website at www.crowflight.com.
Total Shares Outstanding: 269.7MM
Fully Diluted: 307.9MM
52-Week Trading Range: C$0.09 - $0.80
FOR FURTHER INFORMATION PLEASE CONTACT:
Crowflight Minerals Inc.
President and CEO
Crowflight Minerals Inc.
Manager, Investor and Public Relations