Sino Vanadium Inc. Announces Revision to Release Regarding Daquan Vanadium Project Preliminary Economic Assessment
23 Dezember 2009 - 4:46PM
Marketwired Canada
NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Sino Vanadium Inc. (the "Corporation") (TSX VENTURE:SVX) further to the press
release of the Corporation dated December 21, 2009 announcing the results of the
Preliminary Economic Assessment (the "Study") on its 100% owned Daquan vanadium
property the Corporation wishes to provide the following clarification of that
press release.
As described in the previous release the Study proposes two mining options: an
open pit mining option ("Option 1"); and an open pit mining plus underground
mining option ("Option 2") and the Annual Metal Production In Concentrate
section in the previous release only provided information with regard to the
open pit portion of the combined open pit and underground production set out in
Option 2. Below is a revised section showing the estimated annual metal
production in concentrate for both Option 1 and Option 2.
Annual Metal Production in Concentrate
A V2O5 recovery of 75% was used to calculate the estimated annual metal
production detailed below:
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Year Option 1 Option 2
Pounds of V2O5 Pounds of V2O5
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1 34,854,726 38,545,226
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2 34,854,726 38,545,226
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3 34,854,726 34,330,460
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4 34,854,726 34,330,460
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5 34,854,726 34,330,460
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6 34,854,726 34,330,460
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7 34,854,726 34,330,460
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8 34,854,726 34,330,460
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9 34,854,726 34,330,460
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10 7,531,039 34,077,632
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11 21,335,867
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12 16,034,996
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13 16,034,996
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14 16,034,996
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15 16,034,996
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16 16,034,996
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17 16,034,996
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18 16,034,996
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19 16,034,996
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20 5,740,107
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Total 321,223,572 506,837,264
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Forward-Looking Statements
This document may contain "forward-looking statements" within the meaning of
Canadian securities legislation and the United States Private Securities
Litigation Reform Act of 1995. These forward-looking statements are made as of
the date of this document and the Corporation does not intend, and does not
assume any obligation, to update these forward-looking statements.
Forward-looking statements relate to future events or future performance and
reflect management of the Corporation's expectations or beliefs regarding future
events and include, but are not limited to, statements with respect to the
estimation of mineral resources, the realization of estimates, the timing and
amount of estimated future production, costs of production, capital
expenditures, success of mining operations, environmental risks, unanticipated
reclamation expenses, title disputes or claims and limitations on insurance
coverage. In certain cases, forward-looking statements can be identified by the
use of words such as "plans", "expects" or "does not expect", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words and phrases or
statements that certain actions, events or results "may", "could", "would",
"might" or "will be taken", "occur" or "be achieved" or the negative of these
terms or comparable terminology. By their very nature forward-looking statements
involve known and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of the Corporation to be
materially different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Such factors include,
among others, risks related to actual results of current exploration activities;
changes in project parameters as plans continue to be refined; future prices of
resources; possible variations in resources, grade or recovery rates; accidents,
labour disputes and other risks of the mining and exploration industry; delays
in obtaining governmental approvals or financing or in the completion of
development or construction activities; as well as those factors detailed from
time to time in the Corporation's interim and annual financial statements and
management's discussion and analysis of those statements, all of which are filed
and available for review on SEDAR at www.sedar.com. Although the Corporation has
attempted to identify important factors that could cause actual actions, events
or results to differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events or results not
to be as anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward looking statements.
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