July 12, 2016 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) is pleased to report management changes to strengthen its diamond focus, and receipt of permits supportive of exploration work through 2017 – 2018.
The Company announces the appointment of Ms. Claudia Tornquist and Mr. Chad Ulansky to the Company’s Board of Directors, and the movement of Mr. Patrick McAndless and Dr. Gilles Arseneau to the Company’s Technical Advisory Board.
Ms. Tornquist has been a Technical Advisor to Dunnedin since 2015, and was formerly a General Manager at Rio Tinto working extensively with Rio Tinto’s diamond mines and development projects in Canada and Australia. She also worked as Executive VP Business Development for the royalty company Sandstorm Gold Ltd., financing junior mining companies with stream finance, equity and debt, and is currently also on the Board of Kennady Diamonds Inc. Ms. Tornquist holds Masters degrees in Engineering and Business Administration.
Mr. Chad Ulansky, a professional geologist, is currently President and CEO of Metalex Ventures Ltd. and Cantex Mine Development Corp., as well as serving as director of several public and private mineral exploration companies. Mr. Ulansky holds a Bachelor of Science degree in Geology from the University of Cape Town and has diamond exploration experience that includes the original Ekati diamond discovery and has since spanned fifteen countries on four continents. Mr. Ulansky, together with Dunnedin’s advisor Dr. Charles Fipke, guided Dunnedin’s till sampling program in 2015, results of which are expected in the near future.
The Company also reports it has received a positive vote from the Chesterfield Inlet Community Lands and Resource Committee (CLARC) for its multi-year diamond exploration program. The positive endorsement of Dunnedin’s exploration plan is contingent upon 1) Dunnedin integrating community knowledge into its work in order to minimize impacts upon wildlife, and 2) Dunnedin providing assistance to the Kivalliq Inuit Association (the “KIA”) with cleanup of the abandoned Shear Minerals exploration camp at Josephine Lake. While not on the Kahuna project claims, the camp is a concern for many local residents and Dunnedin has formally offered assistance with the KIA’s upcoming cleanup efforts. Such assistance is expected to take the form of transportation of people and equipment to and from the camp while the KIA remediates the site, during Dunnedin’s upcoming field program.
Following the CLARC endorsement, Dunnedin received a staking and prospecting permit from the KIA that is valid through 2018. This allows the Company to undertake mapping, sampling and bulk sampling on Inuit controlled lands similar to that which it completed at the Kahuna project in 2015. The Company also holds a permit from Indigenous and Northern Affairs Canada allowing such work on federally controlled lands that is valid until 2017.
In meetings held in Chesterfield Inlet last week, Hamlet Mayor and head of the Hunters and Trapper’s Association Barney Aggark was pleased to hear that Dunnedin had come into the community and cleared up confusion about the location of proposed exploration activities, and had made commitments to support the KIA’s clean-up of the Shear Minerals camp and engage wildlife monitors from the community during upcoming field work. The Company would like to thank community members at large and community leaders in Chesterfield Inlet and Rankin Inlet for their time, advice and offers to guide personnel during upcoming field work.
Dunnedin is currently finalizing its Wildlife and Environment Monitoring and Mitigation Plan with input from community members and will soon submit its amended application for multi-year bulk sampling and drilling beyond 2017- 2018 to the Nunavut Impact Review Board.
Mr. R. Bob Singh, P.Geo., Exploration Manager, is the qualified person responsible for the technical content of this news release.
For further information please contact Mr. Chris Taylor, M.Sc., P.Geo, CEO at 604 681 0084.
On behalf of the Board of Directors
Dunnedin Ventures Inc.
Chief Executive Officer
About the Kahuna Project
Kahuna is an advanced stage high grade diamond project located near Rankin Inlet, Nunavut. Dunnedin is now recovering diamonds and indicator minerals from a series of kimberlite and till samples collected in summer 2015. An Inferred Resource released by Dunnedin showed over 4 million carats of macrodiamonds (+0.85 mm) at a grade of 1.01 carats per tonne had been defined along the partial strike length of the Kahuna and Notch kimberlite dikes through shallow drilling. The largest diamond recovered was a 5.43 carat stone from the Kahuna dike that had been broken during the sample preparation process and was reconstructed as having an original size of 13.42 carats. Recent results include a 0.82 tonne sample of the PST kimberlite dike which returned 96 macrodiamonds totalling 5.34 carats (+0.85 mm).
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.