Pinestar Gold Inc. Clarifies Technical Disclosure

Pinestar Gold Inc. (TSX VENTURE:PNS) ("Pinestar" or the "Company") reports that
as a result of a review by the British Columbia Securities Commission, it is
issuing this news release to clarify and retract certain technical disclosure
published on the Company's website and to clarify that it does not endorse
certain statements made about the Company in a business journal. 


Company Website

Until recently, the Company's website, located at www.pinestargoldinc.com ,
contained out-of-date information regarding such matters as the Company's share
capital structure and the current members of the board of directors. The Company
has taken its website temporarily offline as it is in the process of updating
the outdated information. The Company anticipates that its website will be made
publicly available again shortly. 


2011 Investor Presentation

The Company published on its website an investor presentation dated June 2011
(the "2011 Presentation"), relating to the Company's Becker property (the
"Becker Property") located in Chile. The 2011 Presentation included disclosure
about the Company's plans to complete further reconnaissance drilling in the
third quarter of 2011. The Company did not proceed with further reconnaissance
drilling, and retracts all statements contained in the 2011 Presentation
regarding its future exploration plans on the Becker property. The 2011
Presentation also included a slide setting out the hypothetical cash flow of
potential mineral production at the Becker Property (the "Hypothetical Cash Flow
Projection"). The Company wishes to clarify that Hypothetical Cash Flow
Projection was not based upon any mineral resource or reserve estimates or
mining studies in respect of the Becker Property, and should not be relied upon.
The Company retracts the Hypothetical Cash Flow Projection in its entirety, and
retracts any other disclosure contained in the 2011 Presentation or disclosed
elsewhere which suggests that there have been any NI 43-101 compliant mineral
resource or reserve estimates or mining studies prepared in respect of the
Becker Property. The Company clarifies that the Becker Property is an
early-stage exploration property, and insufficient exploration work has been
completed on the Becker Property at this stage to prepare an NI 43-101 compliant
mineral resource or reserve estimate or a mining study. 


The Company has removed the 2011 Presentation from its website. 

CBJ Article

On March 1, 2012, the Company issued a press release announcing the execution of
a letter agreement with Zimtu Capital Corp. ("Zimtu"), pursuant to which the
Company acquired an option (the "Option") to acquire a package of 11
exploration-stage graphite properties located in Australia (the "Graphite
Properties"). On May 11, 2012, the Company issued a news release announcing that
following its due diligence review of the Graphite Properties, it had elected
not to proceed with the exercise of the Option. 


On April 5, 2012, the Canadian Business Journal published an article regarding
the Company and the Graphite Properties which was based on information provided
by the Company and Zimtu (the "CBJ Article"). The Graphite Acquisition Article
contained overly promotional statements regarding the Graphite Properties and
the Company, including a statement that a portion of the Graphite Properties
were likely to be Western Australia's first commercial grade graphite mine, and
a statement that the Company was "poised strategically as a major producer of
graphite". 


The Company wishes to clarify that the Company in no way endorses the CBJ
Article or the statements contained therein. The Company wishes to re-confirm
that the Company has terminated the Option, and holds no interest in the
Graphite Properties, or any other graphite-bearing properties. As a result of
the out-of-date information and overly promotional statements regarding the
Company contained in the CBJ Article, the Company has requested that the
Canadian Business Journal remove the CBJ Article from its website. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Pinestar Gold Inc.
Jeremy Ford
President, Chief Executive Officer, and director
(604) 647-4487
pinestargold@gmail.com
www.pinestargoldinc.com
(TSXV:PNS)
過去株価チャート
から 5 2024 まで 6 2024