DNI issues clarification of its September 12, 2012, announcement of an inferred resource from cover rocks above the Buckton zon

    




    

 TORONTO, Sept. 13, 2012 /CNW/ - DNI Metals Inc.  has been requested by IIROC to clarify certain statements contained in  its September 12, 2012, announcement (the "Release") relating to  delineation of a 2.7 billion short ton inferred resource from cover  rocks above the Buckton zone on its Alberta polymetallic black shale  projects. 

 Whereas the Release ascribes a per ton (or tonne) recoverable value to  the Buckton Labiche resource announced, as summarized from the  technical report, IIROC notes that the values announced are "gross"  values and that their disclosure does not comply with Section 2.3(1)(c)  of National Instrument 43-101. DNI, accordingly, retracts the per ton  (or tonne) values ascribed to the Labiche resource which were announced  in the Release, but instead notes that the per ton (or tonne) of  recoverable gross value represented by the Labiche resource is  sufficiently higher than the US$7.5 per tonne cut-off used by the  resource study, and higher than the related iteration of the resource  model at the higher US$10 per tonne cut-off, to reasonably conclude  that the Buckton Labiche inferred mineral resource is mineralization  which has a reasonable prospect for extraction in the future,  especially in conjunction with extraction of the underlying higher  grading Second White Speckled Shale Formation. DNI notes that, as  previously announced, it is shortly proceeding toward a Preliminary  Economic Analysis Study (Scoping Study) for the Buckton Zone to prepare  the necessary estimates of values which might be ascribed to the  mineral resource at the Zone. 

 In addition, DNI also issues the following clarification regarding  recoverable grades disclosed in the Release: namely, that metals  recoveries disclosed in the Release have been summarized from a series  of bench scale laboratory tests completed by DNI during the past three  years, that DNI has not yet completed bulk sampling/testing nor a pilot  plant test on recovery of metals from its black shales, and that the  foregoing recoverable metal grades do not imply that economic viability  of the recoveries has been determined and may not reflect actual  recoveries which might be achieved in an ultimate mineral production  operation. As previously announced, the necessary testwork addressing  the foregoing is in progress in collaboration with CANMET Mining and  Minerals Science Laboratories, Ottawa, toward the commercialization of  a heap leaching process for DNI's polymetallic black shales. 

 The Qualified Person in connection with this press release and in  respect of the Alberta polymetallic black shale projects is S.F.Sabag  PGeo, President and CEO of DNI, who is responsible for verification and  quality assurance of the exploration information disclosed in  connection with the projects and this release. 

 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. 

 DNI - TSX Venture DG7 - Frankfurt Issued: 69,546,689 

 We seek Safe Harbour. This announcement includes forward looking  statements. While these statements represent DNI's best current  judgment, they are subject to risks and uncertainties that could cause  actual results to vary, including risk factors listed in DNI's Annual  Information Form and its MD&As, all of which are available from SEDAR  and on its website. 



DNI Metals Inc.


CONTACT:  DNI Metals Inc. - Shahe Sabag, President & CEO or Denis Clement,Chairman - 416-595-1195email [e-mail]. Also visit www.dnimetals.com 


    

Copyright