Vancouver, BC / ACCESSWIRE / January 23, 2015 / Newlox Gold Ventures Corp. ("Newlox" or "the Company") (CSE: LUX, XETRA(R): NGO) announces that, as a result of a review by the British Columbia Securities Commission, it is issuing the following news release to clarify its previous disclosures.
The company clarifies that it does not have a Mineral Resource or Reserve as defined by National Instrument 43-101 and retracts any statements which imply a Resource or Reserve and cautions readers that a Qualified Person has not done sufficient work to classify any material under the Company's control as current Mineral Resources or Reserves. Newlox Gold Ventures Corp. is not treating any material under its control as Resources or Reserves. In addition, the Company does not hold any mineral exploration or exploitation properties and therefore makes no claims in regard to current or historical Mineral Resources or Reserves. As such, the Company retracts the disclosure as well as the documents which contain these disclosures and asks investors to disregard statements made therein pertaining to tonnages and grades. The Company advises readers not to rely on such statements as they may continue to be found in the public domain.
The Company had posted documents to its website and made filings which are non-compliant with National Instrument 43-101 in that they were not reviewed by a Qualified Person and are non compliant. The Company is taking this opportunity to correct any non compliant information that had been disseminated in the past and makes a commitment to avoid any such events in the future.
In particular, the Company would like to address a Fact Sheet dated August 2014 in which a grade and tonnage estimate was quoted for the Company's "First Reclamation Target". The Company would like to clarify that the grades and tonnages quoted in the document are not Resources or Reserves as defined by National Instrument 43-101 and are therefore non compliant. The reclamation target consists of waste dumps from artisanal mining that have not been verified by a Qualified Person. The Company retracts this document and any other versions which contain the disclosure of these figures of grade and tonnage.
Statements in this news release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the company can fulfill such forward-looking statements and the company undertakes no obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the company, some of which are beyond the company's control. The Company is not a mining or mineral exploration company and therefore holds no Resources or Reserves as defined by NI 43-101 or any mineral exploration or exploitation properties. The Company is a technology and trading company developing processes for economically viable waste remediation and therefore makes no claims in regard to tonnage or grade of feed material.
The Company also draws attention to additional non compliant materials; the Corporate Presentation dated October 2014 and its September 30, 2014 Management Discussion & Analysis (the MD&A) where the Company referred to grades and tonnages deemed to be a disclosure of mineral resources that are contrary to s. 2.2 and 3.4 of National Instrument 43-101 compliance standards. The Company retracts these documents and any other versions which contain statements regarding tonnage and grades. The Company asks investors to disregard statements made therein pertaining to tonnages and grades.
A revised version of the MD&A for the period ending September 30, 2014 has been filed on SEDAR.
The Company pledges to ensure that future material published by the Company will comply with appropriate rules and regulations. The Company has on its board a Qualified Person who will review any future dissemination of technical information.
Additionally management wishes to clarify that Newlox Gold Ventures Corp. is not a mining company and does not intend to conduct mineral exploration, orebody definition, or mining. Newlox is a precious metals trading and environmental reclamation technology company. Management plans to continue the development and growth of this business model.
About Newlox Gold Ventures Corp.
Newlox Gold Ventures Corp. is a reclamation and trading company pursuing business opportunities in Latin America. The company has secured access to multiple stockpiles of historical tailings waste dumps for reclamation.
The Company's initial reclamation facility is operational and in the final stages of an expansion program designed to increase throughput to 80 tonnes per day.
The longer term objective of Newlox Gold Ventures Corp. is to establish a dividend paying enterprise which will allow its shareholders to participate in equity value growth, share in profits, and contribute to environmental clean-up while setting a high standard of social responsibility.
Website: www.newloxgold.com Phone: 1-604-617-7221
On Behalf of the Board, Newlox Gold Ventures Corp. Email: [email protected]
Statements in this news release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the company can fulfill such forward-looking statements and the company undertakes no obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the company, some of which are beyond the company's control. The Company is not a mining or mineral exploration company and therefore holds no Resources or Reserves as defined by NI 43-101 or any mineral exploration or exploitation properties. The Company is a technology and trading company developing processes for economically viable waste remediation and therefore makes no claims in regard to tonnage or grade of feed material.
SOURCE: Newlox Gold Ventures Corp.