Vancouver, Canada - The British Columbia Securities Commission has advised the Company that, following a review of the Company's technical disclosure in respect of its 217 Project in Inner Mongolia, China, the Company has been placed on the Commission's defaulting issuers list because certain disclosure based on a technical report dated February 18 2004 does not, in the Commission's view, comply with National Instrument 43-101. The Commission has requested clarification of, and justification for, certain assumptions made in the February 18 2004 technical report that formed the basis for a resource estimate in respect of the 217 Project.
The assumptions in the February 18 2004 technical report for which the Commission is seeking clarification and justification include the basis for the mineral resource categories, using a 0.5 g/t cut-off grade and a 2:1 stripping ratio. The Commission also noted the degree of variability in geology, mineralization and grade between sections and between adjacent drill holes.
The Company believes, and plans to retain an independent qualified person to confirm, that the assumptions upon which the resource estimate was based are reasonable and can be justified. The independent qualified person will be asked to review the assumptions made in the February 18 2004 technical report that formed the basis for a resource estimate, with a particular focus on the issues identified by the Commission. Following this review, the Company plans to amend or supplement the February 18 2004 technical report to the extent necessary to disclose the clarifications and justifications sought by the Commission. Pending this further disclosure, investors are cautioned that they should not make investment decisions based on the resource estimate in the February 18 2004 technical report.
Jinshan Gold Mines is a Canadian company focused on the exploration and development of precious and base metals (gold, copper and platinum group metals) in the People's Republic of China.
Jinshan shares are listed on the TSX Venture Exchange under the symbol JIN.
Investors: Marlene Mathison/Bill Trenaman
Media: Bob Williamson: +1.604.688.5755
Email: [email protected]
Website: www.jinshanmines.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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"We will continue to put more efforts on production and operation, focus on resource exploration and environmental protection and fully promote the sustainable development of the company".Junhu Tong-Chairman of the Board, Chief Executive Officer and Executive Director
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