29 Dec 2017

Shareholders Approve Plan of Arrangement to Spin Out Gold Assets at Kahuna Project

December 29, 2017 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today announced results of an Annual General and Special Meeting (the “Meeting”) of shareholders (the “Shareholders”) held on December 22, 2017.

At the Meeting, Shareholders approved a plan of arrangement (the “POA”), involving the Company and its wholly-owned subsidiary Solstice Gold Corp. (“Solstice”), pursuant to which the Company will spin out Solstice as a separately listed company (see press releases dated November 29, 2017; November 27, 2017; May 11, 2017; May 1, 2017 and November 23, 2016).  Under the terms of the POA, shareholders of record of Dunnedin on July 17, 2017 will be entitled to receive one share of Solstice for every three shares of Dunnedin held.

Following the Meeting, the Company was granted a final order from the Supreme Court of British Columbia, approving the POA.  Completion of the POA remains subject to the satisfaction of certain closing conditions, and the Company will issue a further news release once the effective date for completion of the POA has been confirmed.

Solstice holds Dunnedin’s gold mineralization rights covering the Kahuna Project (“Kahuna”), including registered ownership of 66 full claims, 50% of 12 additional claims as well as certain other mineral rights.  Solstice will be operated by an experienced management team comprised of Executive Chairman David Adamson Ph.D., President Marty Tunney P.Eng., Vice President Exploration Bob Singh P.Geo, and Chief Financial Officer Tony Ricci CPA, CA.

Investors are cautioned that, except as disclosed in the management information circular prepared in connection with the POA, any information released or received with respect to the POA may not be accurate or complete and should not be relied upon.  The TSX Venture Exchange has in no way passed upon the merits of the proposed POA and has neither approved nor disapproved the contents of this news release.

For further information please contact Mr. Knox Henderson, Investor Relations, at 604-551-2360.

On behalf of the Board of Directors,

 

Dunnedin Ventures Inc.

Chris Taylor

Chief Executive Officer

 

About the Kahuna Project

Dunnedin’s primary asset is the Kahuna project, where it is completing final steps to earn a 100 percent interest.  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 from three seasons of field work.  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, and remains open to extension.  The largest diamond recovered was a 5.43 carat stone from the Kahuna dike which was a piece of a larger diamond 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 2.03 tonne sample of the PST kimberlite dike which returned 223 macrodiamonds totalling 8.17 carats (+0.85 mm) and a 2.36 tonne sample of the Notch kimberlite which returned 89 macrodiamonds totalling 2.38 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.

Share this
29 Nov 2017

Dunnedin Provides Update on Spin-Out and Meeting of Shareholders

November 29, 2017 – Vancouver, BC, Canada – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today announced that it has mailed its meeting materials for an Annual General and Special Meeting (the “Meeting”) of shareholders to be held on December 22, 2017 at the offices of Cassels Brock & Blackwell LLP, Suite 2200, 885 West Georgia Street, Vancouver, British Columbia, V6C 3E8 at 10:00 a.m. (PST) to shareholders of record on October 27, 2017 (the record date for the purposes of determining the shareholders entitled to vote at the Meeting).

At the Meeting, in addition to regular business, shareholders will be asked to consider and vote upon a proposed plan of arrangement (the “POA”), involving the Company and its wholly-owned subsidiary, Solstice Gold Corp. (“Solstice”).  Pursuant to the POA, the Company proposes to spin out Solstice as a separate reporting issuer.  Under the terms of the POA, shareholders of record on July 17, 2017 (the record date for the purposes of determining the shareholders entitled to receive common shares of Solstice), will receive one common share of Solstice for every three common shares of Dunnedin held by them.  In addition, option and warrant holders of Dunnedin will receive options or warrants to acquire common shares of Solstice, exercisable in similar terms and taking into account the above distribution ratio.

Prior to completion of the POA, Dunnedin will transfer certain mineral claims and rights to all minerals, excluding diamonds, gemstones and all minerals found within kimberlitic rocks on the Kahuna property and $1,000,000 in cash to Solstice in return for shares of Solstice which will then be distributed to Dunnedin shareholders.  Based on the total outstanding common shares of Dunnedin as at July 17, 2017, the total number of shares of Solstice to be distributed will be approximately 34,418,922.

In addition, as disclosed in the Meeting materials, the Company is pleased to announce that an experienced and proven management team has been engaged to operate Solstice, comprised of Executive Chairman David Adamson Ph.D., President Marty Tunney P.Eng., Vice President Exploration Bob Singh P.Geo, and Chief Financial Officer Tony Ricci CPA, CA.

Completion of the POA remains subject to the satisfaction of certain closing conditions, including, among other things, approval of shareholders at the Meeting, and receipt of a final order of the Supreme Court of British Columbia.  For further information concerning the POA, readers are encouraged to review the notice of meeting and management information circular describing the terms of the POA, all of which are available under the Company’s profile on SEDAR (www.sedar.com).

The Board of Directors of the Company has unanimously approved the POA and recommends that shareholders vote in favour of the POA.

 

Mr. Jeff Ward, P.Geo, is the qualified person responsible for the technical content of this news release.

For further information please contact Mr. Knox Henderson, Investor Relations, at 604-551-2360.

 

On behalf of the Board of Directors

Dunnedin Ventures Inc.

 

Chris Taylor

Chief Executive Officer

 

About the Kahuna Project

Dunnedin’s primary asset is the Kahuna project, where it is completing final steps to earn a 100 percent interest.  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 from three seasons of field work.  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, and remains open to extension.  The largest diamond recovered was a 5.43 carat stone from the Kahuna dike which was a piece of a larger diamond 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 2.03 tonne sample of the PST kimberlite dike which returned 223 macrodiamonds totalling 8.17 carats (+0.85 mm) and a 2.36 tonne sample of the Notch kimberlite which returned 89 macrodiamonds totalling 2.38 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.

Share this
27 Nov 2017

Dunnedin Ventures Announces Management Team for Spinout – Solstice Gold – and Provides Gold Results from the Kahuna Property

Vancouver, British Columbia–(Marketwired – Nov. 27, 2017) – Dunnedin Ventures Inc. (“Dunnedin”) (TSX Venture:DVI) is pleased to announce details of the gold vehicle spinout originally announced on July 20, 2017. The spinout will take place via Plan of Arrangement (“POA”) in British Columbia, the details of which will be provided in a separate news release in the near future. The new gold vehicle is named Solstice Gold Corporation (“Solstice”, “SGC” or the “Company”) and is currently a wholly owned subsidiary of Dunnedin. Following a positive Dunnedin shareholder vote approving the spinout, the Company anticipates it will be listed and begin trading on the TSX Venture Exchange as soon as practicable following the POA. The Date of Record for the spinout was July 17, 2017 after which shares of Dunnedin have been trading ex-dividend.

Solstice is a new gold-focussed exploration company created through the spinout by Dunnedin Ventures Inc. of 66 full claims, 50% of 12 additional claims and certain other rights1 covering the district scale Kahuna Project (“Kahuna” or the “Project”), all with no underlying option or earn in payments. Kahuna is located in Nunavut, Canada only 26 km from Rankin Inlet and approximately 7 km from the Meliadine gold deposits owned by Agnico-Eagle Mines Ltd. (TSX: AEM; “Agnico”).

Highlights of 2017 exploration include up to 34.9 g/t Au in boulders, up to 8.8 g/t Au in bedrock and seven elevated gold in till target areas.

An experienced and proven management team has been engaged to operate Solstice, comprised of Executive Chairman David Adamson Ph.D., President Marty Tunney P.Eng., Vice President Exploration Bob Singh P.Geo, Chief Financial Officer Tony Ricci CPA, CA and Strategic Advisor Chris Taylor, M.Sc. P.Geo. The Board of Directors is made up of David Adamson – Chairman, Chris Taylor, Chad Ulansky and Michael Leskovec. All of the details from this news release along with graphics and images can be found in the Company’s investor presentation available at www.solsticegold.com/presentation.pdf.

Management and Board
David Adamson M.Sc., Ph.D., Executive Chairman. Mr. Adamson has over 25 years of experience in the mineral deposit industry. David has a proven record of creating shareholder value by identifying opportunities, making discoveries and advancing them through the exploration stage to development. In 2010 he received the AME BC Colin Spence award for Excellence in Global Mineral Exploration. He has played a key role in five mineral deposits one of which is currently advancing a four million ounce M&I gold deposit. David is well experienced in the capital markets and has raised well over $500 million to date. He has been a member of senior management and board member of several publicly traded companies. Mr. Adamson holds both an M.Sc. and Ph.D. in economic geology.

Martin Tunney, P. Eng., President. Mr. Tunney began his 14 years of experience in the mineral industry as a mining engineer working for Inco and then Newmont Mining Corp. (NYSE: NEM). His capital markets experience includes working for two Investment Banks where he worked on transactions of all sizes including some of the largest gold and base metals transactions of the last decade. He is experienced in all aspects of M&A, financing, streaming and royalties. Most recently he spent 4 years at NewCastle Gold Ltd. (TSX: NCA) where he served as Vice President of Technical Service and subsequently Vice President of Corporate Development. He has a B.A. from Bishop’s University and a Bachelor of Applied Science from the University of Toronto.

Tony Ricci, CPA, CA, Chief Financial Officer. Mr. Ricci is a CPA, CA with over 25 years of practice experience, mainly with public companies listed on Canadian and U.S. stock exchanges. Mr. Ricci was formerly a director and CFO of Keegan Resources Inc., a director and CFO of Norsemont Mining Inc., and CFO of both Petaquilla Minerals Ltd. and Petaquilla Copper Ltd., companies with a combined market capitalization approaching $2 billion. He is also a director and officer of various other listed companies including in the technology and industrial sectors, and was formerly with KPMG and AMEC Engineering Inc.

R. Bob Singh P.Geo, Vice President Exploration. Mr. Singh is an Exploration Geologist with over 24 years of experience across a wide range of early to advanced stage exploration projects throughout North America. He is an experienced project manager, bringing a high level of computer science to mineral exploration. Bob was part of the team at Dunnedin that identified the significant gold potential at Kahuna.

Christopher Taylor, M.Sc., P.Geo, Strategic Advisor & Director. Mr. Taylor is a structural geologist and explorationist with over 15 years of industry experience with both mid-tier producer and junior exploration companies. He is also a director of a number of Exchange listed resource companies. Chris was part of the team at Dunnedin that identified the significant gold potential at Kahuna, and is CEO of Dunnedin.

Chad Ulansky, P. Geo, Director. Mr. Ulansky is a professional geologist, and is currently President and CEO of Metalex Ventures Ltd. (TSX-V: MTX) and Cantex Mine Development Corp. (TSX-V: CD), as well as serving as director of several public and private mineral exploration companies. Mr. Ulansky has exploration experience that includes the original Ekati diamond discovery and has since spanned fifteen countries on four continents.

Michael G. Leskovec, CPA, CA, Director. Mr. Leskovec is a Chartered Professional Accountant with over 15 years of financial experience with publicly listed companies and capital markets. He currently serves as the Chief Financial Officer of Nighthawk Gold Corp. (TSX: NHK) and as a Vice-President of Northfield Capital Corporation (TSX-V: NFD.A). Until its sale in 2008 for $1.5 billion to Goldcorp Inc. (TSX:G), Mr. Leskovec served as an Officer of Gold Eagle Mines Ltd. Prior to this, he served as an Audit and Assurance Manager at Smith Nixon LLP, where he managed audit engagements of publicly listed corporations traded on the TSX.

Kahuna Highlights

  • Solstice’s Kahuna comprises a district scale land package of 806 km2 adjacent to claims controlled by Agnico Eagle Mines which host the world class Meliadine Deposits (6.7 M Oz gold M&I[R&R Incl.] and 3.6 M Oz Inferred)(Figure 1). Solstice has exclusive secondary rights on an additional 858 km2.
  • In late 2016, Dunnedin acquired a proprietary property-wide geophysical and geochemical dataset and, in conjunction with its own data, prepared a new, property wide compilation. It is estimated that this gold-focused database and landholding would cost over $7 million (in 2017 dollars) and several years to replace.
  • High definition magnetics outline numerous extensive regional magnetic trends which indicate the potential for geological and structural hosts similar to those at Meliadine (Figure 1).
  • Selected till samples, collected in 2016 on 500 m centres, were subsequently analyzed for gold in 2017. In the “Westeros” area, which lies adjacent to the Agnico claims (see page 15 of the investor presentation), Solstice has identified numerous, continuous gold-in-till (>80th percentile) target areas in gold concentrates. A small percentage of these have been examined to date for gold grains and have yielded pristine gold grains interpreted to be locally derived from within the Kahuna property.
  • New geological mapping and sampling on wide spaced traverse lines (0.5 – 1.5 km spacing) by Dunnedin in 2017 has now confirmed the existence of over 10 extensive linear and intensely folded iron formation units, and over 200 km of gold belts interpreted to occur in a similar geological and structural setting to Meliadine.
  • Rock sampling on 500 m spaced traverse lines, focussed in the Westeros area, which represents a 40 km long target (unfolded) has identified extensive anomalous gold in bedrock of up to 8.8 g/t Au and angular float up to 34.9 g/t Au. Gold occurs in altered iron formation, quartz vein and metasedimentary hosts (See page 18 of the investor presentation). It is noteworthy that approximately 50% of the priority Westeros area remains to be covered by mapping and sampling. Anomalous gold has also been returned from several other areas of the property which have been only sparsely sampled to date.
  • Seven regional target areas have been identified which will be aggressively followed up in 2018. In one such target area (the “Far North”), an extensive and locally folded area of quartz veining 3-5 m thick and extending for over 3 km was discovered late in 2017. Limited sampling over this 13 km-long target area (dollars) and several years to replace.
  • The 2017 field program was highly successful in advancing the project and was pivotal in the identification of seven priority exploration target areas in the Westeros area along with other regional priority target areas. Our objective will be to identify drill targets at Westeros and to advance other priority areas during 2018.

Figure 1: Property Map

Source: Agnico-Eagle Website and Presentations

“In looking for new gold opportunities, my criteria are to look for district scale belts which have unrecognized major gold deposit potential in safe political jurisdictions,” said Solstice Executive Chair David Adamson. “Such projects are exceedingly rare but, in reviewing the high-quality work done to date at Kahuna, I believe this is one such opportunity. Agnico Eagle and predecessors at Meliadine have blazed trail in the area. Data from these deposits provide invaluable tools to aid us in advancing the adjacent Kahuna project. In my view, the region is similar to many of the major producing gold districts in the Canadian Shield but, significantly, is only at the beginning of its exploration, development and mining cycle. With an experienced and technically savvy core management team, we are excited about the opportunity and the challenge.”

“We know there are major gold deposits in the region,” added Marty Tunney, President. “We have a district scale land position in similar rocks showing positive signs from work to date. We believe that the region has more gold deposits yet to be found and we control a major portion of that potential.”

Notes:
1. Primary Rights include all mineral rights for non-diamond and gemstones excluding any minerals found in kimberlite. Dunnedin Ventures holds Secondary Rights on this ground. Secondary Rights give the holder the right to propose exploration programs on the property related to their mineral rights. Such programs are granted at the discretion of the Primary Rights holder. The agreement allows exclusive right for the parties to exchange rights on their respective claims.
R. (Bob) Singh, P.Geo, is the Qualified Person as defined by NI 43-101 standards responsible for reviewing the technical content of this news release.

About Solstice

Solstice gold is to be created from the spinout by way of a POA of claims and certain gold rights of the Kahuna Project located in Nunavut Canada, plus $1 million from Dunnedin Ventures. It is expected that Solstice, initially spun out as a reporting issuer, will become listed on the TSX-V, subject to regulatory approvals.

At Solstice we believe operational best practice evolves and develops through embracing the communities in which we operate, considering cultural values and lifestyles with ongoing efforts to foster relationships of respect. We look to conduct our business in a transparent manner, seeking input through continuous consultation in an effort to work towards common goals.

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.

On behalf of the Board of Directors

Dunnedin Ventures Inc.
Chris Taylor
Chief Executive Officer

Solstice Gold Corporation
David Adamson
Executive Chairman

Forward Looking Statements

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. FLS in this presentation include comparison with certain geological features at an adjacent development property. There can be no guarantee that continued exploration at Kahuna, which is at an early stage of exploration, will lead to the discovery of an economic gold deposit. 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.

Contact Information

For further information please contact:
Mr. Knox Henderson
Investor Relations
+1-604-551-2360

Share this
20 Nov 2017

Dunnedin Appoints Tornquist as President, Adds to Operations Team in Advance of Drilling

November 20, 2017 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) is pleased to announce the appointment of Ms. Claudia Tornquist, M.Eng, MBA as the company’s new President.  Ms. Tornquist, a senior-level executive, initially joined Dunnedin as an advisor in 2015 and was appointed to the board of directors in 2016. The Company also announces the appointment of Mr. Jeff Ward, P.Geo, as Vice President, Exploration, Mr. Andrew Berry as Vice President, Operations and Ms. Emily McNie as Project Geologist. Mr. Ward, Mr. Berry and Ms. McNie have over 30 years of collective experience in Nunavut, and a successful track record of diamond exploration and discovery.

Chris Taylor, Dunnedin’s CEO said, “We are anticipating a very active 2018 as we drill a number of newly identified kimberlite pipe targets, and also drill to expand our existing diamond resource at our 100% owned Kahuna project in Nunavut. Ms. Tornquist’s experience with Rio Tinto’s Diamonds Group will add breadth and depth of advanced-stage diamond industry experience to a strong exploration team that is currently advised by Dr. Charles Fipke and Mr. John Robins. With extensive experience in Nunavut and a background in diamond exploration and processing, Mr. Ward and Mr. Berry provide operational experience to Dunnedin that will allow the Company to grow through the advanced-stage exploration work anticipated in the new year.”

Claudia Tornquist, Dunnedin’s President said, “I am very excited about the tremendous opportunity Dunnedin has at the Kahuna project in Nunavut and the world-class team Mr. Taylor has assembled. The Kahuna project stands out as an advanced project with proven diamond potential and an existing 4 million carat resource with a clear path to expansion at low cost. In addition, Dunnedin’s large land package provides tremendous exploration upside and numerous kimberlite pipe targets have been identified with the potential for a transformative discovery.  2018 will be an important year to bring the Kahuna project to the next level.”

The new Dunnedin Ventures appointments are as follows:

Claudia Tornquist, M.Eng, MBA, President and Director
Ms. Tornquist’s prior experience includes her role as Executive Vice President of Business Development at Sandstorm Gold, a streaming and royalties company where she financed junior mining companies in the precious metals, base metals and diamond sectors.  Prior to that she worked for nine years at Rio Tinto as general manager in strategy, business evaluation and business development roles.  In the diamonds sector Ms. Tornquist led the development of a growth strategy for Rio Tinto’s Diamonds Group and she also evaluated and advised Rio Tinto’s Investment Committee on major expansions of the Argyle and Diavik diamond mines.

Jeff Ward, P.Geo, VP Exploration
Mr. Ward has over 30 years of exploration experience across Canada’s north, most recently as President of Kivalliq Energy Corp. (TSX-V: KIV), and will assist Dunnedin will all aspects or program planning and implementation. As Regional Project Manager for Ashton Mining of Canada Inc. he directed diamond exploration in the Northwest Territories, Nunavut and Alberta.  As General Manager-Laboratory Services for Ashton and Stornoway Diamond Corp (TSX: SWY), he supervised operations at a 50-person North Vancouver head office and laboratory facility specializing in diamond evaluation.  Mr. Ward also ran several on-site DMS plants processing for surface and underground bulk samples at the Renard Project in Quebec, Canada’s newest diamond mine.

Andrew Berry, VP Operations
Mr. Berry has been COO of Kivalliq Energy Corp. since 2010 and will co-manage exploration activities for Dunnedin. He has both surface and underground experience with precious metal, base metal and diamond deposits in South America, Africa and Canada, including mine development with Flanagan McAdam Ltd. and the Muscocho Group in Ontario. As Project Manager with Ashton Mining of Canada Inc. and Stornoway Diamond Corp., Mr. Berry specialized in operational logistics while exploring for diamonds in Canadian arctic environments for over 15 years.

Emily McNie B.Sc, Project Geologist
Ms. McNie has been working in the vicinity of Dunnedin’s Kahuna project as Project Geologist with Kivalliq Energy Corp. since 2011.  She will assist with program implementation and will supervise field operations.  Ms. McNie’s background includes technical and regulatory reporting and administration of environmental compliance and permitting in Nunavut with a focus on the Kivalliq district.

Update on Plan of Arrangement

In addition to published diamond resources in two kimberlite bodies, and identification of new potentially diamond-hosting kimberlite pipe targets that will be drill tested in early 2018, Dunnedin also announced the discovery of widespread gold in tills across the Kahuna property in 2016, and its intention to spin out gold rights to the project. The project is contiguous with the Meliadine property of Agnico Eagle Mines Ltd. and overlies similar banded iron formation units that also host gold at Meliadine.

The Company notifies shareholders of record on July 17, 2017 that materials related to the proposed Plan of Arrangement (“POA”) to spin out the gold mineralization rights at Kahuna will be mailed out by the close of November, and a special meeting to approve the POA is expected to take place in mid-to-late December, 2017. Details of the POA will be included in the mail out material and will also be announced by the Company at the time of mailing.

Figure 1: Expanded boundaries of the Kahuna project, September 2017. Agnico Eagle’s (TSX: AEM) Meliadine project is contiguous with the Kahuna project and is shown in yellow.

Mr. Jeff Ward, P.Geo, is the qualified person responsible for the technical content of this news release.
For further information please contact Mr. Knox Henderson, Investor Relations, at 604-551-2360.

On behalf of the Board of Directors

Dunnedin Ventures Inc.

Chris Taylor
Chief Executive Officer

About the Kahuna Project

Dunnedin’s primary asset is the Kahuna project, where it is completing final steps to earn a 100 percent interest. 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 from three seasons of field work. 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, and remains open to extension. The largest diamond recovered was a 5.43 carat stone from the Kahuna dike which was a piece of a larger diamond 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 2.03 tonne sample of the PST kimberlite dike which returned 223 macrodiamonds totalling 8.17 carats (+0.85 mm) and a 2.36 tonne sample of the Notch kimberlite which returned 89 macrodiamonds totalling 2.38 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.

Share this
20 Nov 2017

Dunnedin Appoints Tornquist as President, Adds to Operations Team in Advance of Drilling

November 20, 2017Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) is pleased to announce the appointment of Ms. Claudia Tornquist, M.Eng, MBA as the company’s new President.  Ms. Tornquist, a senior-level executive, initially joined Dunnedin as an advisor in 2015 and was appointed to the board of directors in 2016.  The Company also announces the appointment of Mr. Jeff Ward, P.Geo, as Vice President, Exploration, Mr. Andrew Berry as Vice President, Operations and Ms. Emily McNie as Project Geologist.  Mr. Ward, Mr. Berry and Ms. McNie have over 30 years of collective experience in Nunavut, and a successful track record of diamond exploration and discovery.

Chris Taylor, Dunnedin’s CEO said, “We are anticipating a very active 2018 as we drill a number of newly identified kimberlite pipe targets, and also drill to expand our existing diamond resource at our 100% owned Kahuna project in Nunavut.  Ms. Tornquist’s experience with Rio Tinto’s Diamonds Group will add breadth and depth of advanced-stage diamond industry experience to a strong exploration team that is currently advised by Dr. Charles Fipke and Mr. John Robins.  With extensive experience in Nunavut and a background in diamond exploration and processing, Mr. Ward and Mr. Berry provide operational experience to Dunnedin that will allow the Company to grow through the advanced-stage exploration work anticipated in the new year.”

Claudia Tornquist, Dunnedin’s President said, “I am very excited about the tremendous opportunity Dunnedin has at the Kahuna project in Nunavut and the world-class team Mr. Taylor has assembled. The Kahuna project stands out as an advanced project with proven diamond potential and an existing 4 million carat resource with a clear path to expansion at low cost. In addition, Dunnedin’s large land package provides tremendous exploration upside and numerous kimberlite pipe targets have been identified with the potential for a transformative discovery.  2018 will be an important year to bring the Kahuna project to the next level.”

The new Dunnedin Ventures appointments are as follows:

Claudia Tornquist, M.Eng, MBA, President and Director

Ms. Tornquist’s prior experience includes her role as Executive Vice President of Business Development at Sandstorm Gold, a streaming and royalties company where she financed junior mining companies in the precious metals, base metals and diamond sectors.  Prior to that she worked for nine years at Rio Tinto as general manager in strategy, business evaluation and business development roles.  In the diamonds sector Ms. Tornquist led the development of a growth strategy for Rio Tinto’s Diamonds Group and she also evaluated and advised Rio Tinto’s Investment Committee on major expansions of the Argyle and Diavik diamond mines.

Jeff Ward, P.Geo, VP Exploration

Mr. Ward has over 30 years of exploration experience across Canada’s north, most recently as President of Kivalliq Energy Corp. (TSX-V: KIV), and will assist Dunnedin will all aspects or program planning and implementation.  As Regional Project Manager for Ashton Mining of Canada Inc. he directed diamond exploration in the Northwest Territories, Nunavut and Alberta.  As General Manager-Laboratory Services for Ashton and Stornoway Diamond Corp (TSX: SWY), he supervised operations at a 50-person North Vancouver head office and laboratory facility specializing in diamond evaluation.  Mr. Ward also ran several on-site DMS plants processing for surface and underground bulk samples at the Renard Project in Quebec, Canada’s newest diamond mine.

Andrew Berry, VP Operations

Mr. Berry has been COO of Kivalliq Energy Corp. since 2010 and will co-manage exploration activities for Dunnedin.  He has both surface and underground experience with precious metal, base metal and diamond deposits in South America, Africa and Canada, including mine development with Flanagan McAdam Ltd. and the Muscocho Group in Ontario. As Project Manager with Ashton Mining of Canada Inc. and Stornoway Diamond Corp., Mr. Berry specialized in operational logistics while exploring for diamonds in Canadian arctic environments for over 15 years.

Emily McNie B.Sc, Project Geologist

Ms. McNie has been working in the vicinity of Dunnedin’s Kahuna project as Project Geologist with Kivalliq Energy Corp. since 2011.  She will assist with program implementation and will supervise field operations.  Ms. McNie’s background includes technical and regulatory reporting and administration of environmental compliance and permitting in Nunavut with a focus on the Kivalliq district.

Update on Plan of Arrangement

In addition to published diamond resources in two kimberlite bodies, and identification of new potentially diamond-hosting kimberlite pipe targets that will be drill tested in early 2018, Dunnedin also announced the discovery of widespread gold in tills across the Kahuna property in 2016, and its intention to spin out gold rights to the project.  The project is contiguous with the Meliadine property of Agnico Eagle Mines Ltd. and overlies similar banded iron formation units that also host gold at Meliadine.

The Company notifies shareholders of record on July 17, 2017 that materials related to the proposed Plan of Arrangement (“POA”) to spin out the gold mineralization rights at Kahuna will be mailed out by the close of November, and a special meeting to approve the POA is expected to take place in mid-to-late December, 2017.  Details of the POA will be included in the mail out material and will also be announced by the Company at the time of mailing.

Figure 1: Expanded boundaries of the Kahuna project, September 2017.  Agnico Eagle’s (TSX: AEM) Meliadine project is contiguous with the Kahuna project and is shown in yellow.

Mr. Jeff Ward, P.Geo, is the qualified person responsible for the technical content of this news release.

For further information please contact Mr. Knox Henderson, Investor Relations, at 604-551-2360.

On behalf of the Board of Directors

 

Dunnedin Ventures Inc.

Chris Taylor

Chief Executive Officer

 

About the Kahuna Project

Dunnedin’s primary asset is the Kahuna project, where it is completing final steps to earn a 100 percent interest.  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 from three seasons of field work.  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, and remains open to extension.  The largest diamond recovered was a 5.43 carat stone from the Kahuna dike which was a piece of a larger diamond 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 2.03 tonne sample of the PST kimberlite dike which returned 223 macrodiamonds totalling 8.17 carats (+0.85 mm) and a 2.36 tonne sample of the Notch kimberlite which returned 89 macrodiamonds totalling 2.38 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.

Share this
14 Sep 2017

Dunnedin Expands Kahuna Project To 166,402 Hectares

September 14, 2017 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today announced that it has expanded the Kahuna project through staking of an additional 36 claims totaling 42,128 Ha.  The total area of the Kahuna project is now 166,402 Ha, or 1,664 square kilometres.  The new claims are prospective for both gold and diamonds.

 

The summer field program has been extended to survey the newly staked ground and geological mapping, bedrock and till sampling are underway.  The new claims cover extensions to greenstone belts containing banded iron formations that have been mapped by field crews, and are known from historical work to contain gold mineralization.  Some of the new claims also cover probable up-ice sources of recently disclosed diamond indicator minerals found in tills, and geophysical targets consistent with kimberlite pipes.  The new boundaries of the Kahuna project are shown below in Figure 1.

Figure 1: Expanded boundaries of the Kahuna project, September 2017.

The Company further reports that is has begun mobilizing fuel and other materials for its planned winter drill program and is currently seeking drill bids.  Furthermore, all outstanding diamond-focused till results from its 2016 sampling program have now been received, and results will be released as soon as analysis is completed.

 

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. Knox Henderson, Investor Relations, at 604-551-2360.

On behalf of the Board of Directors

 

Dunnedin Ventures Inc.

 

Chris Taylor

Chief Executive Officer

 

About the Kahuna Project

 

Dunnedin’s primary asset is the Kahuna project, where it is completing final steps to earn a 100 percent interest.  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 from two seasons of field work.  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, and remains open to extension.  The largest diamond recovered was a 5.43 carat stone from the Kahuna dike which was a piece of a larger diamond 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 2.03 tonne sample of the PST kimberlite dike which returned 223 macrodiamonds totalling 8.17 carats (+0.85 mm) and a 2.36 tonne sample of the Notch kimberlite which returned 89 macrodiamonds totalling 2.38 carats (+0.85 mm).

 

The Kahuna project is located adjacent to the development-stage Meliadine gold project of Agnico Eagle Mines Ltd. and has generated gold results in tills, bedrock and drill core across a wide area.  Gold is associated with several metasediment belts that cross the project.  The adjacent Meliadine project is also hosted by metasediments and has approximately 14.5 million tonnes of Proven and Probable Reserves grading 7.32 g/t gold, containing 3.4 million ounces of gold as of December 31, 2015.   There is an additional Indicated Resource of 20.7 million tonnes grading 4.95 g/t gold containing 3.3 million ounces of gold, and an additional Inferred Resource of 14.7 million tonnes grading 7.51 g/t gold containing 3.5 million ounces of gold (source: www.agnicoeagle.com).

 

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.

Share this
24 Aug 2017

Dunnedin Provides Update, Reports New Pipe Targets To Be Drilled At Kahuna

August 24, 2017 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today provided an update on diamond exploration and permitting progress.

The Company has focused on a priority region of high quality Diamond Indicator Minerals (“DIMs”) correlated to a number of geophysical targets consistent with kimberlite pipes, as shown on Figure 1.  Three of these targets have been “boxed” by till sampling and are drill-ready, as DIM concentrations have been found down-ice from the targets, but not up-ice with respect to glacial transport.  Elsewhere on the project, field crews have also identified a pipe or “dyke-blow” target along strike of a proven diamond-bearing kimberlite dyke.  Drilling of these targets is planned for winter 2017-2018.

 

Dunnedin further reports that all required land use, water use and access permits have now been received from local, territorial and federal governments to allow a winter drill program.  The Company is sufficiently funded to execute the planned drilling.

 

New Cluster of Kimberlite Pipe Targets

 

A priority area of interest is located east of the Kahuna kimberlite dyke and is notable for having:

  • 3 drill-ready kimberlite pipe targets that have sourced high quality DIMs in tills, including clinopyroxenes with chemical signatures associated with large diamonds recovered from diamond-producing mines
  • 19 additional high priority DIM occurrences observed by Dunnedin to-date that are currently being assessed by field crews,
  • More than 30 geophysically suggested kimberlite pipe targets within a 5 kilometre radius, and
  • 10 historically drill-confirmed kimberlite pipes

While the area was also historically explored, none of the new targets specifically defined by Dunnedin have been drilled.  Dunnedin’s exploration methods differ from historical techniques by employing proprietary DIM classification filters developed by the Company’s advisor Dr. Charles Fipke, and used during the original Canadian diamond discovery at Ekati.  These filters highlight diamond-bearing kimberlites as priority targets, and allow the Company to avoid kimberlites with low diamond potential.

The Company has also engaged in3D Geoscience Inc. to model the three-dimensional shape of the kimberlite targets using the Company’s extensive geophysical database, and will use results to assist with planning of individual drill holes.

 

Figure 1: DIM results and kimberlite pipe targets east of the Kahuna dyke. Higher DIM rankings on this image are provided by a combination of higher DIM counts per till sample, quality of DIM chemistry, and assessed distance to potential bedrock source.  The area contains both drill-ready targets and additional targets now being assessed by field crews.

 

Exploration Update and Additional Targets

 

Field crews have been actively exploring the project since June of 2017.  Results to-date include mapping of the surface expressions of possible kimberlite pipes in areas that have sourced diamonds and/or DIMs.  An example of a new pipe-type target is provided in Figure 2.  The “Jigsaw” kimberlite dyke was bulk sampled in 2006 and returned 2.53 carats of commercial-sized diamonds (+0.85mm) from a 5.15 tonne bulk sample, for a sample grade of 0.49 carats per tonne.  Field crews have identified a prominent circular topographic depression adjacent to the area of historical sampling that will also be drill tested this winter.

 

Processing is also now over 90% complete on a series of 1,111 till samples collected in summer 2016 that are being analyzed at C.F. Mineral Research Ltd. of Kelowna, B.C.  Results will continue to be released as received and analyzed.

 

Figure 2: Potential kimberlite pipe target identified for follow-up drilling.  Circular topographic depression measures approximately 100m across, and may be a “dyke-blow”.


Based on the strength of results to-date, Dunnedin has expanded the scope of its ongoing till sampling program and is collecting approximately 3,500 till samples from across a 1,000 square kilometre area, in order to test a number of new targets and new areas of the project that were staked in late 2016.

 

Details of the upcoming drill program and any further drill targets will be provided when final till sampling results from the 2016 program are received, which are expected in September.

 

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. Knox Henderson, Investor Relations, at 604-551-2360.

On behalf of the Board of Directors

 

Dunnedin Ventures Inc.

 

Chris Taylor

Chief Executive Officer

 

About the Kahuna Project

 

Dunnedin’s primary asset is the Kahuna project, where it is completing final steps to earn a 100 percent interest.  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 from two seasons of field work.  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, and remains open to extension.  The largest diamond recovered was a 5.43 carat stone from the Kahuna dike which was a piece of a larger diamond 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 2.03 tonne sample of the PST kimberlite dike which returned 223 macrodiamonds totalling 8.17 carats (+0.85 mm) and a 2.36 tonne sample of the Notch kimberlite which returned 89 macrodiamonds totalling 2.38 carats (+0.85 mm).

 

The Kahuna project is located adjacent to the development-stage Meliadine gold project of Agnico Eagle Mines Ltd. and has generated gold results in tills, bedrock and drill core across a wide area.  Gold is associated with several metasediment belts that cross the project.  The adjacent Meliadine project is also hosted by metasediments and has approximately 14.5 million tonnes of Proven and Probable Reserves grading 7.32 g/t gold, containing 3.4 million ounces of gold as of December 31, 2015.   There is an additional Indicated Resource of 20.7 million tonnes grading 4.95 g/t gold containing 3.3 million ounces of gold, and an additional Inferred Resource of 14.7 million tonnes grading 7.51 g/t gold containing 3.5 million ounces of gold (source: www.agnicoeagle.com).

 

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.

Share this
25 Jul 2017

Total Of 8.17 Carats of Commercial-Sized Diamonds Recovered From PST Kimberlite

July 25, 2017 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today reported final diamond recovery results from the PST kimberlite.  A total of 8.17 carats of commercial-sized diamonds (+0.85 mm) were recovered from 2.03 tonnes of PST, for a final aggregate sample grade of 4.02 carats per tonne.  Results are provided in the table below.

 

Diamond Recoveries from PST Kimberlite

Table 1: Diamonds recovered from the PST kimberlite by Dunnedin

Sample Weight in Dry Tonnes Total

Number of Diamonds Recovered (+0.425 mm)

Total Carat

Weight (+0.85 mm)

Endecott Sieve Size (mm)
0.425 0.60 0.85 1.18 1.70 2.36 3.35 4.75 Sample Grade

(cpt)

Largest Diam-onds

(carats)

PST

1

0.82 526 5.34 305 125 58 23 12 1 1 1 6.50 2.22, 0.77, 0.17
PST

2

1.21 733 2.83 388 218 80 39 6 2 0 0 2.35 0.26, 0.18, 0.15
PST TOTAL 2.03 1,259 8.17 693 343 138 62 18 3 1 1 4.02

 

Chris Taylor, Dunnedin’s CEO said, “PST represents a high grade target with obvious capacity to host large and attractive diamonds.  It is a clear target for further exploration and bulk sampling, and is one of several drill confirmed diamond-bearing kimberlites within a 2 kilometre radius.  Once again, Dunnedin’s samples have returned higher than historic commercial-sized diamond grades.  At PST our final aggregate sample grade is 84% higher than what was historically reported.”

Historical bulk sample results from PST are presented in Table 2.  Historical and current samples were collected from the same sample site.

Table 2: Historically reported bulk sampling of the PST kimberlite

Sample Weight in Dry Tonnes Total

Number of Diamonds Recovered (+0.425 mm)

Total Carat

Weight (+0.85 mm)

Endecott Sieve Size (mm)
0.425 0.60 0.85 1.18 1.70 2.36 3.35 4.75 Sample Grade

(cpt)

Largest Diam-onds

(carats)

PST

1

3.55 NA 11.29 NA NA 128 78 28 6 1 0 2.18 0.55, 0.29, 0.16

Most of the PST diamonds recovered by Dunnedin are clear and colourless variants of octahedra. No historical or current resource numbers are available for PST, however recent interpretive work by Dunnedin suggests it has a potential strike length of up to 2.5 kilometres based on historical drilling and geophysical surveys.

Figure 1:  All diamonds recovered from the 1.17 to 2.36 mm commercial-size fraction of sample PST 2

 

 

 

 

 

 

In 2016, Dunnedin determined that the PST, Notch and other kimberlites have intruded a gold-mineralized metasediment belt that has yielded gold in drill core, and pristine, locally sourced gold grains in tills.  Some of the highest gold-in-till values observed through Dunnedin’s work come from the immediate vicinity of PST, with gold mineralization also noted in outcrop and boulders within 200 m of the kimberlite.

 

About the PST Kimberlite

 

  • Near vertical high grade kimberlite dike that is exposed at surface
  • Historical and current samples were taken at the same locations or within metres of each other
  • Drilling is limited to 200 metres of strike and to a maximum depth of approximately 50 metres; remains open along strike and at depth
  • Extends north under thin gravel cover, however diamondiferous kimberlite was drilled 1.2 km away directly along strike, coincident with magnetic and resistivity signatures that suggest potential continuity of up to 2.5 km
  • Insufficient exposure and drilling to define width; more work is required
  • One of several diamondiferous kimberlites discovered thus far within a 2 km radius, including Notch, Killiq and 07-KD-24. The latter is notable for having historically recovered 305 diamonds including 7 macrodiamonds (+0.85 mm) from a 2.2 kg (0.0022 tonne) drill core sample

 

The PST sample was treated through an autogenous mill-fusion circuit located at CF Mineral Research Ltd. of Kelowna, British Columbia, using a lower size cut-off of 0.425 mm.  Unlike standard DMS recovery methods, the circuit can recover nearly all diamonds present in a kimberlite to the predetermined cut-off size, along with associated indicator minerals.

 

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. Knox Henderson, Investor Relations, at 604-551-2360.

 

On behalf of the Board of Directors

Dunnedin Ventures Inc.

 

Chris Taylor

Chief Executive Officer

 

About the Kahuna Project

 

Dunnedin’s primary asset is the Kahuna project, where it is completing final steps to earn a 100 percent interest.  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 from two seasons of field work.  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, and remains open to extension.  The largest diamond recovered was a 5.43 carat stone from the Kahuna dike which was a piece of a larger diamond 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) and a 2.36 tonne sample of the Notch kimberlite which returned 89 macrodiamonds totalling 2.38 carats (+0.85 mm).

 

The Kahuna project is located adjacent to the development-stage Meliadine gold project of Agnico Eagle Mines Ltd. and has generated gold results in tills, bedrock and drill core across a wide area.  Gold is associated with several metasediment belts that cross the project.  The adjacent Meliadine project is also hosted by metasediments and has approximately 14.5 million tonnes of Proven and Probable Reserves grading 7.32 g/t gold, containing 3.4 million ounces of gold as of December 31, 2015.   There is an additional Indicated Resource of 20.7 million tonnes grading 4.95 g/t gold containing 3.3 million ounces of gold, and an additional Inferred Resource of 14.7 million tonnes grading 7.51 g/t gold containing 3.5 million ounces of gold (source: www.agnicoeagle.com).

 

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.

Share this
20 Jul 2017

Dunnedin Raises $5.1 Million

July 20, 2017 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company“) (TSX-V: DVI) today announced that it has completed an over-subscribed non-brokered private placement of flow-through (each, a “FT Unit“) and non-flow through (each, a “NFT Unit“) units for gross proceeds of $4,546,250.  In connection with closing of the placement, the Company issued 1,325,000 FT Units at a price of $0.32, and 16,489,000 NFT Units at a price of $0.25.

The Company has also received gross proceeds of $597,000 from receipt of 3,980,000 warrants originating from a private placement closed on August 29, 2016, bringing total gross proceeds of the current private placement and warrant funds receipt to $5,143,250.

Significant participants in the private placement include Evanachan Ltd., a company wholly-owned by Rob McEwen, and Northfield Capital Corporation (TSX-V: NFD.A), a company controlled by Robert Cudney.

Each FT Unit consists of one common share and one-half-of-one share purchase warrant entitling the holder to acquire an additional common share at a price of $0.40 for a period of twenty-four months.  Each NFT Unit consists of one common share and one-half-of-one share purchase warrant entitling the holder to acquire an additional common share at a price of $0.35 for a period of twenty-four months.  The share purchase warrants issued as part of the FT Units and the NFT Units are subject to accelerated expiry in the event the closing price of the common shares of the Company on the TSX Venture Exchange is $0.55 or greater for twenty consecutive trading days.

“Dunnedin is well-positioned to proceed with both diamond and gold exploration at the Kahuna project,” said Chris Taylor, CEO of Dunnedin. “Our next steps include implementation of our planned spin-out through a plan of arrangement of the gold rights to the Kahuna project.  This includes finalizing the ratio of gold-focused spinout company shares to be received by shareholders on the date of record of July 17, 2017, determination of the relative market value of the diamond and gold assets of the Company as of the record date, and proceeding with a shareholder vote to approve the plan of arrangement.  This is of course against the backdrop of an active summer exploration program that has been ongoing since June and is expected to yield results over the near-term.”

In connection with closing of the placement the Company paid finders’ fees of $285,890.50 and issued 1,118,180 share purchase warrants (each, a “Broker Warrant“) to eligible parties who introduced subscribers to the placement.  Each Broker Warrant is exercisable to acquire a common share of the Company at a price of $0.25 for a period of twenty-four months, subject to accelerated expiry on the same terms as the warrants comprising the FT Units and the NFT Units.  All securities issued in connection with the private placement are subject to a four-month-and-one-day statutory hold period.  All participants in the private placement are shareholders of record on July 17, 2017 to also receive gold-focused spinout company shares.

Chris Taylor said, “I would like to thank the team at Pollitt & Co Inc. for their assistance with the successful conclusion of this over-subscribed placement, and for representing Dunnedin with the highest professional standards.”

 

The Company intends to use the proceeds of the private placement to advance its ongoing exploration program on the Kahuna project and for general working capital purposes including completion of its previously announced spinout of rights associated with gold mineralization on that project.  It is anticipated that a significant portion of the proceeds of the placement will be used to advance gold exploration work on the project.

 

For further information please contact Knox Henderson, Investor Relations, at 604-551-2360.

 

About Dunnedin Ventures

Dunnedin’s primary asset is the Kahuna project, where it has an option to earn a 100 percent interest.  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 from two seasons of field work.  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, and remains open to extension.  The largest diamond recovered was a 5.43 carat stone from the Kahuna dike which was a piece of a larger diamond 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) and a 2.36 tonne sample of the Notch kimberlite which returned 89 macrodiamonds totalling 2.38 carats (+0.85 mm).

 

The Kahuna project is located adjacent to the development-stage Meliadine gold project of Agnico Eagle Mines Ltd. and has generated gold results in tills, bedrock and drill core across a wide area.  Gold is associated with several metasediment belts that cross the project.  The adjacent Meliadine project is also hosted by metasediments and has approximately 14.5 million tonnes of Proven and Probable Reserves grading 7.32 g/t gold, containing 3.4 million ounces of gold as of December 31, 2015.   There is an additional Indicated Resource of 20.7 million tonnes grading 4.95 g/t gold containing 3.3 million ounces of gold, and an additional Inferred Resource of 14.7 million tonnes grading 7.51 g/t gold containing 3.5 million ounces of gold (source: www.agnicoeagle.com).

 

Bob Singh, P. Geo., exploration manager, is the qualified person responsible for the technical content of this news release.

 

On behalf of the Board of Directors

 

Dunnedin Ventures Inc.

 

Chris Taylor

Chief Executive Officer

 

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.

Share this
20 Jun 2017

Dunnedin Ventures To Raise $4 Million Through Private Placement

June 20, 2017 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company“) (TSX-V: DVI) announces that it will conduct a non-brokered private placement of flow-through (each, a “FT Unit“) and non-flow through (each, a “NFT Unit“) units for gross proceeds of up to $4,000,000.

In order to accommodate the private placement, the date of record for a plan of arrangement to spin out rights to gold mineralization at the Company’s Kahuna project, Nunavut, will be amended from June 30, 2017 to July 17, 2017.  Shareholders of record on July 17, 2017 will be entitled to receive a distribution of shares in a new gold entity.  Additional details regarding the arrangement will be provided as they become available.

Each “FT Unit” will be offered at a price of $0.32 and will consist of one common share and one-half-of-one share purchase warrant entitling the holder to acquire an additional common share at a price of $0.40 for a period of twenty-four months.  Each “NFT Unit” will be offered at a price of $0.25 and will consist of one common share and one-half-of-one share purchase warrant entitling the holder to acquire an additional common share at a price of $0.35 for a period of twenty-four months.

The share purchase warrants issued in connection with the FT Units and the NFT Units will be subject to accelerated expiry in the event the closing price of the common shares of the Company on the TSX Venture Exchange is $0.55 or greater for twenty consecutive trading days.

The Company will determine the allocation of FT Units and NFT Units based on investor interest.  In the event only FT Units are issued, the private placement would result in the issuance of 12,500,000 FT Units.  In the event only NFT Units are issued, the private placement would result in the issuance of 16,000,000 NFT Units.

The Company intends to use the proceeds of the private placement to advance its summer exploration program on the Kahuna project, and complete its previously announced spinout of rights associated with gold mineralization on that project.  It is anticipated that a significant portion of the proceeds of the placement will be used to advance gold exploration work on the project and will form part of the assets of the spinout vehicle on completion of the spinout transaction.

The Company has engaged Pollitt & Co. Inc. (“Pollitt“) as the Company’s financial advisor and to act as lead agent in connection with the private placement.  Pollitt will receive a finders’ fee from the Company in consideration for providing these services.  The Company may pay finders’ fees to other eligible parties who have introduced subscribers to the private placement.

For further information regarding the placement please contact Knox Henderson, Investor Relations, at 604-551-2360, or James Doyle, Pollitt & Co. Inc., at 416-365-3313, jd@pollitt.com.

 

Completion of the private placement remains subject to the approval of the TSX Venture Exchange.  All securities issued in connection with the private placement will be subject to a four-month-and-one-day statutory hold period.

About Dunnedin Ventures

 

Dunnedin’s primary asset is the Kahuna project, where it has an option to earn a 100 percent interest.  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 from two seasons of field work.  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 which was a piece of a larger diamond 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) and a 2.36 tonne sample of the Notch kimberlite which returned 89 macrodiamonds totalling 2.38 carats (+0.85 mm).

 

The Kahuna project is located adjacent to the development-stage Meliadine gold project of Agnico Eagle Mines Ltd. Meliadine has approximately 14.5 million tonnes of Proven and Probable Reserves grading 7.32 g/t gold, containing 3.4 million ounces of gold as of December 31, 2015.   There is an additional Indicated Resource of 20.7 million tonnes grading 4.95 g/t gold containing 3.3 million ounces of gold, and an additional Inferred Resource of 14.7 million tonnes grading 7.51 g/t gold containing 3.5 million ounces of gold (source: www.agnicoeagle.com).

 

Bob Singh, P. Geo., exploration manager, is the qualified person responsible for the technical content of this news release.

 

On behalf of the Board of Directors

 

Dunnedin Ventures Inc.

 

Chris Taylor

Chief Executive Officer

 

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.

Share this

© 2017 Dunnedin Ventures Inc.. All rights reserved.

Click Me