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Tiomin Resources And Cadiscor Resources Will Not Proceed With
Proposed Business Combination
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TORONTO - February 19, 2009: Tiomin Resources Inc. (TSX: TIO)
('Tiomin' or the 'Company') and Cadiscor Resources Inc. (CAO, TSX-V)
('Cadiscor') announced today that they will not proceed with the
business combination as announced on February 10, 2009.
As a result of the recent announcement by Jaguar Financial Corp,
Cadiscor and Tiomin mutually agreed to terminate the arrangements
reached on February 09, 2009.
As part of the proposed transaction, Tiomin completed a thorough
Technical Due Diligence review on Cadiscor and on its main asset, the
Sleeping Giant Mine, including the engagement of Scott Wilson Roscoe
Postle Associates Inc., an Independent Firm of geological and mining
consultants, which reviewed and confirmed the development plan of the
Sleeping Giant Mine, as well as the financial soundness of the
development and production plan for the continuing company.
To find out more about Tiomin Resources Inc., please visit the company
website at www.tiomin.com.
For further information on Tiomin please contact:
Jim O'Neill, VP Corporate Controller and Investor Relations
E-Mail: joneill@tiomin.com
Phone: 416-350-3779, ext. 231
Certain of the information contained in this news release constitutes
'forward-looking statements' within the meaning of securities laws.
Such forward-looking statements, including but not limited to those
with respect to the prices of metals and minerals, estimated future
production and estimated costs of future production involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements to be materially different
from any forecast results, performance or achievements expressed or
implied by such forward-looking statements. Such factors include,
among others, the actual prices of copper and gold, the actual results
of current exploration, development and mining activities, changes in
project parameters as plans continue to be evaluated, as well as those
factors disclosed in the documents of the Company filed from time to
time with the Ontario Securities Commission.
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Copyright (c) 2009 TIOMIN RESOURCES INC. (TIO) All rights reserved.
For more information visit our website at http://www.tiomin.com/ or
send mailto:news@tiomin.com
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Vaaldiam Mining Inc.
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PRODUCER |
CODE : VAA.TO |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Vaaldiam Mining is a copper development stage company based in Canada. Vaaldiam Mining produces copper, diamonds in Brazil, and holds various exploration projects in Brazil, in Canada, in Central African Republic, in Peru and in South Africa. Its main asset in production is DUAS BARRAS in Brazil and its main exploration properties are KILIFI and MAMBRUI in Kenya, HILLTOP PROPERTY in Canada, PUKAQAQA in Peru, ZUURVERDIEND and BOSSIESLAAGTE in South Africa and KIMBERLITE in Central African Republic. Vaaldiam Mining is listed in Canada. Its market capitalisation is CA$ 140.6 millions as of today (US$ 143.1 millions, € 103.6 millions). Its stock quote reached its highest recent level on December 29, 2006 at CA$ 1.70, and its lowest recent point on December 24, 2008 at CA$ 0.01. Vaaldiam Mining has 502 264 000 shares outstanding. |