14 Aug 2018

Dunnedin Closes Private Placement, Prepares for Fall Sampling Program

August 14, 2018 – Vancouver, British Columbia – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today announced that it has closed a non-brokered private placement of non flow-through units (each, a “NFT Unit”) and flow-through shares (each, a “FT Share“) for gross proceeds of $1,802,500 (the “Offering”).

The Company has issued 5,080,000 NFT Units at a price of $0.20 per share and 3,419,565 FT Shares at a price of $0.23 per share through the Offering. Each NFT Unit consists of one common share and one-half-of-one common share purchase warrant entitling the holder to acquire an additional common share at a price of $0.28 for a period of twenty-four months.  The common share purchase warrants issued as part of the NFT Units are subject to accelerated expiry in the event the common shares of the Company trade on the TSX Venture Exchange at a volume weighted average price (VWAP) of $0.45 or more for twenty consecutive trading days.

Claudia Tornquist, President of Dunnedin, said, “To date in 2018 we have successfully extended two of our diamond-bearing kimberlite dikes, discovered a new kimberlite pipe and proven the effectiveness of our methods for locating new kimberlites by analysing at-surface diamond indicator minerals. We are currently awaiting the diamond recovery results from the kimberlite pipes drilled during our recent summer program, which are expected throughout the fall. In the meantime we are preparing to conduct additional field work to inform our next drill program in winter and, working with our advisor and largest shareholder Dr. Chuck Fipke, we continue to prioritize numerous additional kimberlite targets.”

Proceeds of the Offering will be used to fund the Company’s exploration and analysis work on the Kahuna Diamond Project in Nunavut and for general corporate purposes.

In connection with the closing of the placement the Company paid finders’ fees of $80,490 and issued 367,761 common share purchase warrants exercisable to acquire common shares of the Company (each, a “Finders Warrant”) to eligible parties who introduced subscribers to the placement.  All securities issued in connection with the private placement are subject to a four-month-and-one-day statutory hold period from the date of issue, expiring on December 15, 2018.

For further information please contact Mr. Knox Henderson, Investor Relations, at 604-551-2360 or khenderson@dunnedinventures.com.

On behalf of the Board of Directors

Dunnedin Ventures Inc.

Chris Taylor                                     Claudia Tornquist
Chief Executive Officer                   President

About the Kahuna Project

Dunnedin Ventures Inc. (TSX-V: DVI) is focused on its 100% owned, advanced-stage Kahuna Diamond Project in Nunavut which hosts a high-grade, near surface inferred diamond resource and numerous kimberlite pipe targets.  The Company holds diamond interest in 1,664 km2 of mineral tenure located 26 kilometers northeast of Rankin Inlet and adjacent to Agnico Eagle’s Meliadine gold mine.  To define and prioritize kimberlite pipe targets Dunnedin has evaluated an extensive historic data set and recovered diamonds and indicator minerals from a series of kimberlite and till samples over three seasons of field work. Working with advisor and largest shareholder Dr. Chuck Fipke, the Company has used the same till sampling and mineral screening protocols employed during Dr. Fipke’s discovery of Canada’s first diamond mine at Ekati, NWT, but improved by over 20 years of additional diamond data and experience.  The Kahuna Diamond Project has an Inferred Resource Estimate of 3,987,000 tonnes at an average grade of 1.01 carats per tonne, totalling over 4 million carats of diamonds (+0.85 mm) (see news release dated March 31, 2015).  The largest diamond recovered from the property to date is 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.  Based in Vancouver, Dunnedin is backed by a world-renowned team of diamond experts with decades of combined experience in Arctic exploration and significant capital market strength.

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. Accordingly, readers should not place undue reliance on forward-looking statements.  Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, except as required by applicable securities laws.

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19 Jul 2018

New Kimberlite Pipe Discovery at Dunnedin’s Kahuna Project

July 19, 2018 – Vancouver, British Columbia – Dunnedin Ventures Inc. (the “Company” of “Dunnedin”) (TSX-V: DVI) today provided an update on rotary air-blast (‘RAB’) drilling at its 100% owned Kahuna Diamond Project in Nunavut. The Company reports it has discovered a new kimberlite pipe (KH10-11) and drill-tested two additional historic pipes. Diamond recovery tests will begin shortly, and first results are expected in 8-10 weeks.

Highlights include:

  • New KH10-11 kimberlite pipe discovery, and two historic pipes (KD900 and KD230) re-drilled to review diamond content and potentially expand diamond-bearing phases
  • New KH10-11 pipe was drilled to 112 metres and KD900 drilled to 114 metres vertically. The newly discovered pipe KH10-11 remains open at depth
  • Indicator minerals were observed in kimberlitic material recovered from two of the three pipes (KH10-11 and KD900), including garnet, picroilemite, and olivine – similar to significantly diamond bearing kimberlite drilled on the property to-date. Most were observed in the newly discovered KH10-11 pipe
  • More than three tonnes of kimberlitic material was collected from these three pipes and is available for diamond analysis
  • Approximately one tonne of representative kimberlitic material from all three pipes was shipped and prioritised for diamond recovery at CF Mineral Research Ltd. (‘CFM’) in Kelowna, British Columbia

Chris Taylor, CEO of Dunnedin commented, “We are excited to have tested three kimberlite pipes, one of which represents a new discovery and has over 100 metres of continuous kimberlite from surface.  We plan to return as soon as possible to determine the size and potential of not only these pipes, but also several additional nearby lookalike targets.  The Company has expedited select material from each pipe for diamond recovery. Numerous pipe and dike targets remain untested and these will be drilled as soon as practical, and with new diamond results in-hand to guide us.”

 

2018 Summer Program Summary

The 2018 summer RAB drilling program was designed to specifically test kimberlite pipe targets in areas with diamond indicator minerals (“DIMs”) in till.  Progress includes:

  • 17 targets were successfully drill tested, three of which were kimberlite pipes (see Figure 1)
  • A total of 1,081 metres of RAB drilling was completed in 20 holes
  • A total of 254.5 metres of kimberlite was intersected, yielding approximately 3.5 tonnes (see Table 1).

 

800 kilograms of glacial till were also collected from the drill holes near the bedrock interface at each drill site. Selected samples of this sub-surface material will be processed for DIMs to enhance existing till results and to assist with prioritising further kimberlite targets.

 

Table 1: Kimberlite Intercepts from Dunnedin’s Summer 2018 Drilling

Drill Hole Kimberlite Name Azimuth Dip From (m) To

(m)

Interval (m) Description of rock chips
18-RAB-18 KD900 0 90 3.05 10.67 7.62 Kimberlite, hole re-collared
18-RAB-19 KD900 0 90 13.72 114.29 100.57 Kimberlite, 9 metres mixed kimberlite and gneiss
18-RAB-21 KD230 120 60 42.67 80.77 38.10 Kimberlite
18-RAB-31 KH10-11 0 90 10.67 15.24 4.57 Kimberlite, hole re-collared
18-RAB-32 KH10-11 0 90 9.14 112.77 103.63 Kimberlite

 

The Company notes that numerous priority targets remain that are associated with high-rank DIMs.  Many of these are situated under shallow lakes or deeper glacial sediment and are not amenable to RAB drilling.  These will be tested with core drilling as soon as practical when field conditions permit.

 

New KH10-11 Kimberlite Pipe

Drill holes 18-RAB-31 and 18-RAB-32 intersected kimberlite within metres of surface.  Hole 18-RAB-31 was abandoned due to drilling conditions and hole 18-RAB-32 resumed a few metres away. Kimberlite was encountered below 10 metres of overburden and extended to 112 metres vertical depth, where the hole was terminated in kimberlite.

KH10-11 is initially described as a green-blue to brown, olivine-phlogopite macrocrystic kimberlite having crustal xenoliths and kimberlite indicator minerals. Olivine, picroilmenite, rare chromite and peridotitic garnets exhibiting kelyphitic rims were observed in RAB chips, with serpentine alteration and carbonate common. A mantle derived xenolith was also noted.  This combination of features is generally associated with diamond-bearing kimberlite at the Kahuna project.

The KH10-11 kimberlite is characterised by a circular 60 metre by 110 metre moderately high magnetic geophysical response.  The drill hole was collared in the centre of this response and similar target analogues occur nearby.  Over 1.5 tonnes of kimberlitic material was collected from KH10-11, of which approximately 500 kilograms has been sent for expedited diamond processing.

 

Figure 1: 2018 Drilled Kimberlite Pipes

Additional Pipes Tested

Two additional historic kimberlite pipes were also drilled during the program, one of which is known to be diamond-bearing. These pipes were tested in order to further assess and/or expand upon diamond bearing phases, gain additional information about kimberlite pipe emplacement, and their relationship to DIMs in the northern project area.

Drill holes 18-RAB-18 and 18-RAB-19 intersected 108.19 metres of kimberlite at historically drilled pipe KD900.  Previously, this pipe yielded diamonds as reported in Table 2 below (Stornoway Diamond Corp., “Stornoway”, TSX-V: SWY, August 29, 2005):

 

Table 2: Historic KD900 diamond results from Stornoway.

Drill Hole Number Sample Weight (kg) 0.106mm
Sieve
0.15mm
Sieve
0.212mm
Sieve
0.3mm
Sieve
0.425mm
Sieve
0.6 mm
Sieve
05KD900-01 128.3 1 4 4 2 0 1

 

The largest stones measured 0.84×0.74×0.64mm (clear colourless aggregate); 0.50×0.36×0.32mm (clear colourless aggregate), 0.42×0.36×0.30mm (clear, colourless octahedron).

At the time, Stornoway reported: “Kimberlite KD900 is of particular interest. It hosts the first macrodiamond recovered from the Churchill property and is situated within the Josephine River corridor, an area that hosts favorable G10 mineral chemistry… Through visual observation of the drill core different phases are evident including an altered kimberlite breccia hosting limestone fragments and hypabyssal kimberlite.”

Stornoway characterized KD900 as an 80 metre by 200 metre, subtle magnetic low with several similar signatures nearby.  A review of historical data suggests that the pipe contains multiple phases of kimberlite, and that most diamonds recovered from KD900 originate from a distinct 5 metre phase of kimberlite that Dunnedin has now expanded to 10 metres.  Dunnedin’s geologists noted a distinct kimberlite phase having garnets and a possible mantle xenolith in the final ten metres of 18-RAB-19.  This prospective phase been sent for expedited diamond processing.

Mr. Taylor commented, “Confirmation of the historical diamond-bearing interval at the KD900 pipe is important because it could represent a significant volume of diamond-bearing kimberlite.  Many kimberlites have multiple magma phases, some of which are more diamond-rich than others.  With encouraging diamond results, future work will be required to determine the size, geometry and diamond content of prospective phases in KD900 and other pipe-like targets close by.”

A third historic pipe, KD230 was also drilled to test for different kimberlite phases.  KD230 is located 800 metres southeast from KD900. Angled hole 18-RAB-21 cut the width of this pipe, returning 38.10 metres of kimberlite.  No significant indicator minerals or different kimberlite phases were noted during Dunnedin’s RAB logging.  Portions of the kimberlite will be processed to determine its diamond potential and to characterize its indicator mineral content.  In particular, these results will be useful to distinguish between lower and higher diamond potential targets during future exploration.

In addition to testing for diamond content, DIM content will also be analyzed from all three kimberlites in order to use mineral signatures to map out down-ice till dispersions.  This will help the Company vector-in on additional potential diamond-bearing of sources of abundant, high quality DIMs, particularly in overlapping mineral dispersion trains.

Diamond recovery results will continue to be reported by the Company as they become available.  Kimberlites that prove to be significantly diamondiferous will be further drill-tested to determine geometry and to obtain mini-bulk samples that will allow the Company to characterize the diamond grade and size frequency distribution for each kimberlite.

 

QA/QC

RAB samples were shipped to the CF Mineral Research Ltd. (“CFM”) laboratory in Kelowna, BC for processing and caustic fusion analysis. Dunnedin’s QA/QC protocols include industry standard chain of custody and security procedures during sampling and transport. In addition, laboratory results, concentrates, rejects and any other relevant material are subject to audit.  CFM operates using reference standards, internal quality assurance protocols, security and operating procedures for processing, recovery and reporting of diamond results. The CFM laboratory is accredited and audited for international quality standards through the International Organization for Standardization/International Electrotechnical Commission (ISO/IEC) 17025:2005, which includes ISO 9001:2015 specifications.  Dunnedin has not confirmed historic diamond results reported herein, however exploration was carried out by what is believed to be knowledgeable explorers in accordance with acceptable industry practices at the time.

Jeff Ward, P.Geo, Vice President Exploration and a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained in this release.

For further information please contact Mr. Knox Henderson, Investor Relations, at 604-551-2360 or khenderson@dunnedinventures.com.

 

On behalf of the Board of Directors

Dunnedin Ventures Inc.

 

Chris Taylor

Chief Executive Officer

 

About the Kahuna Project

 

Dunnedin Ventures Inc. (TSX-V: DVI) is a Vancouver-based company whose primary asset is the 100% owned, advanced-stage Kahuna Diamond Project in Nunavut which hosts a high-grade, near surface inferred diamond resource and numerous kimberlite pipe targets.  The Company holds diamond interest in 1,664 km2 of mineral tenure located 26 kilometers northeast of Rankin Inlet and adjacent to Agnico Eagle’s Meliadine gold mine.  To define and prioritize kimberlite pipe targets Dunnedin has evaluated an extensive historic data set and recovered diamonds and indicator minerals from a series of kimberlite and till samples over three seasons of field work. Working with advisor and shareholder Dr. Chuck Fipke, the Company has used the same till sampling and mineral screening protocols employed during Dr. Fipke’s discovery of Canada’s first diamond mine at Ekati, N.W.T., but improved by over 20 years of additional diamond data and experience.  The Kahuna Diamond Project has an Inferred Resource Estimate of 3,987,000 tonnes at an average grade of 1.01 carats per tonne, totalling over 4 million carats of diamonds (+0.85 mm) (see news release dated March 31, 2015).  The largest diamond recovered from the property to date is 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.  Dunnedin is backed by a world-renowned team of diamond experts with decades of combined experience in Arctic exploration and capital market strength.

 

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.

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11 Jul 2018

Dunnedin Recovers 338 Diamonds from First Kimberlite Drilled at Kahuna Project in 2018

July 11, 2018 – Vancouver, British Columbia – Dunnedin Ventures Inc. (the “Company” of “Dunnedin”) (TSX-V: DVI) today provides new diamond results from its 100% owned Kahuna Diamond Project in Nunavut. As noted in its May 10, 2018 news release, new targets as well as hidden extensions to historical discoveries were tested using rotary air-blast (‘RAB’) drilling in the winter program. Nearly 400 kilograms of kimberlitic RAB material recovered from these targets was shipped to CF Mineral Research Ltd. (‘CFM’, Kelowna, British Columbia) for microdiamond recovery.

Results for 127.74 kilograms from the newly-identified extension of diamond-bearing kimberlite 07KD-24 include 338 diamonds larger than the 0.106 mm sieve size, including four commercial-sized diamonds larger than 0.85 mm. The five largest diamonds shown in Figure 1 include clear and colourless variants of octahedra totaling 0.072 carats. Diamond recovery results are presented in Table 1 below.

 

Figure 1: Image that includes the five largest diamonds recovered from 07KD-24. The stones appear to be clear and colourless variants of octahedral shapes with few inclusions.

Chris Taylor, CEO of Dunnedin commented, “We are very pleased that our DIM-based exploration protocols have discovered the concealed extension to a potentially high-grade diamond source with high-quality diamonds. The number and quality of larger diamonds in this initial sample are very encouraging. Considering that RAB drilling is a rapid first stage exploration tool but can generate more diamond breakage than other drill methods, we  are very excited with this result and intend to follow-up with core drilling in our winter 2019 program to obtain more representative geological, grade and diamond data.”

 

Table 1: Caustic fusion results for the first sample of kimberlitic material recovered from 07KD-24.

07KD24 Number of Diamonds per Endecott Sieve Size (mm Square Mesh Sieve)
Total Sample Weight

(kg)

+0.106

– 0.150

0.150

-0.212

0.212

-0.300

0.300

-0.425

0.425

-0.600

0.600

– 0.85

0.85

-1.18

1.18

-1.70

Carat Weight (+0.85mm) *Total

Stones

127.74 122 84 73 34 13 8 2 2 0.072 338

*Note: The RAB drilling method produces a large component of rock fines during sampling. Consequently, a large number of diamonds smaller than the 0.106 mm cut-off size are not included in the reported results.

 

The diamond result for 07KD-24 is a composite of intervals from RAB holes 18-RAB-002, 18-RAB-003, and 18-RAB-004, all drilled from the same set up (see Figure 2). Details of the drilling at 07KD-24 are in the Company news release dated May 10, 2018.

 

Figure 2: Drill Targets and RAB Holes from April 2018 drill program

Ongoing Exploration at Kahuna

The Company has also completed a Very Low Frequency (VLF) ground-based electromagnetic survey over 07KD-24 and other priority targets in the present summer program. The results outlining the potential size of this kimberlite and other targets will be released when analysis is complete.

Dunnedin is currently drill-testing a number of additional kimberlite targets across the Kahuna Project, focusing on pipe-like signatures of which many also have associated DIM occurrences in down-ice glacial till samples.  The current phase of drilling is expected to conclude mid-July, at which point any kimberlitic material intersected during the program will be shipped to CF Mineral Research Ltd for processing and analysis.  Any diamonds recovered from these samples, as well as the remaining April samples, will be reported as results become available.

Kimberlites that prove to be significantly diamondiferous will be further drill-tested with a core rig during winter 2018-2019 to determine geometry and to obtain mini-bulk samples that will allow the Company to characterize the diamond grade and size frequency distribution for each target.

 

Technical Data – QA/QC

Diamond results reported herein are composited from three RAB holes drilled in winter 2018. The RAB samples were shipped to the CF Mineral Research Ltd. (“CFM”) laboratory in Kelowna, BC for processing and caustic fusion analysis. The material was treated through an autogenous mill-fusion circuit with a lower size cut-off of 0.106 mm. Unlike other microdiamond recovery methods, the circuit can recover nearly all diamonds present in a kimberlite to a predetermined cut-off size, along with associated indicator minerals. Quality assurance protocols include industry standard chain of custody and security procedures during sampling and transport. CFM operates using reference standards, internal quality assurance protocols, security and operating procedures for processing, recovery and reporting of diamond results. The CFM laboratory is accredited and audited for international quality standards through the International Organization for Standardization/International Electrotechnical Commission (ISO/IEC) 17025:2005, which includes ISO 9001:2015 specifications.

Jeff Ward, P.Geo, Vice President Exploration and a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained in this release.

For further information please contact Mr. Knox Henderson, Investor Relations, at 604-551-2360 or khenderson@dunnedinventures.com.

 

On behalf of the Board of Directors

Dunnedin Ventures Inc.

 

Chris Taylor

Chief Executive Officer

 

About the Kahuna Project

Dunnedin Ventures Inc. (TSX-V: DVI) is a Vancouver-based company whose primary asset is the 100% owned, advanced-stage Kahuna Diamond Project in Nunavut which hosts a high-grade, near surface inferred diamond resource and numerous kimberlite pipe targets.  The Company holds diamond interest in 1,664 km2 of mineral tenure located 26 kilometers northeast of Rankin Inlet and adjacent to Agnico Eagle’s Meliadine gold mine.  To define and prioritize kimberlite pipe targets Dunnedin has evaluated an extensive historic data set and recovered diamonds and indicator minerals from a series of kimberlite and till samples over three seasons of field work. Working with advisor and shareholder Dr. Chuck Fipke, the Company has used the same till sampling and mineral screening protocols employed during Dr. Fipke’s discovery of Canada’s first diamond mine at Ekati, N.W.T., but improved by over 20 years of additional diamond data and experience.  The Kahuna Diamond Project has an Inferred Resource Estimate of 3,987,000 tonnes at an average grade of 1.01 carats per tonne, totalling over 4 million carats of diamonds (+0.85 mm) (see news release dated March 31, 2015).  The largest diamond recovered from the property to date is 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.  Dunnedin is backed by a world-renowned team of diamond experts with decades of combined experience in Arctic exploration and capital market strength.

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.

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25 Jun 2018

Dunnedin Featured on CEO Clips on CBC’s Documentary Channel

June 25, 2018 – Vancouver, British Columbia – Dunnedin Ventures Inc. (the “Company”) (TSX-V: DVI) today announces that BTV’s CEO Clips, a series of short video profiles on innovative publicly traded companies across North America, will feature Dunnedin  on CBC’s Documentary Channel beginning June 25, Monday through Friday, throughout the day and evenings. View link: http://www.b-tv.com/dunnedin-ventures-ceo-clip-90sec/ .

Further online distribution through BTV’s CEO Clips include:  BNN.ca, Thomson Reuters Insider Network Terminals, Yahoo Finance, TSX, Globe Investor, Stockwatch, Bloomberg, Stockhouse.com and BTV’s YouTube channel.

About CBC’s Documentary Channel and BTV:

CBC’s Doc Channel is a digital television station devoted to showing the best documentaries from Canada and around the world.

BTV-Business Television and CEO Clips produce and house the largest library of company video features and campaigns for publicly traded companies for broadcast on TV and financial sites.  Contact info@b-tv.com

For further information please contact Mr. Knox Henderson, Investor Relations, at 604-551-2360 or khenderson@dunnedinventures.com.

 

On behalf of the Board of Directors

Dunnedin Ventures Inc.

Chris Taylor

Chief Executive Officer

 

About the Kahuna Project

Dunnedin Ventures Inc. (TSX-V: DVI) is a Vancouver-based company whose primary asset is the 100% owned, advanced-stage Kahuna Diamond Project in Nunavut which hosts a high-grade, near surface inferred diamond resource and numerous kimberlite pipe targets.  The Company holds diamond interest in 1,664 km2 of mineral tenure located 26 kilometers northeast of Rankin Inlet and adjacent to Agnico Eagle’s Meliadine gold mine.  To define and prioritize kimberlite pipe targets Dunnedin has evaluated an extensive historic data set and recovered diamonds and indicator minerals from a series of kimberlite and till samples over three seasons of field work. Working with advisor and shareholder Dr. Chuck Fipke, the Company has used the same till sampling and mineral screening protocols employed during Dr. Fipke’s discovery of Canada’s first diamond mine at Ekati, N.W.T., but improved by over 20 years of additional diamond data and experience.  The Kahuna Diamond Project has an Inferred Resource Estimate of 3,987,000 tonnes at an average grade of 1.01 carats per tonne, totalling over 4 million carats of diamonds (+0.85 mm) (see news release dated March 31, 2015).  The largest diamond recovered from the property to date is 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.  Dunnedin is backed by a world-renown team of diamond experts with decades of combined experience in Arctic exploration and capital market strength.

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.

 

 

 

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20 Jun 2018

Dunnedin Resumes Drilling at Kahuna Diamond Project, Nunavut

June 20, 2018 – Vancouver, British Columbia – Dunnedin Ventures Inc. (the “Company”) (TSX-V: DVI) today announced drilling has recommenced at its 100% owned Kahuna diamond project, Nunavut.  Drill crews and equipment have been mobilized and drilling of high–priority kimberlite targets is underway.

The Company will be drilling approximately 30 targets in June and July 2018.  These are mainly located on the northern half of the property, which was not drilled during the first phase of drilling in April 2018.

Chris Taylor, Dunnedin’s CEO said, “The northern project area hosts a dense concentration of kimberlite occurrences and has the most abundant high-quality diamond indicator mineral (DIM) chemistry recovered from our till sampling programs to date.  Over 30 historic drill-confirmed kimberlites are known in this area, including approximately 12 kimberlite pipes and a number of kimberlite dikes, the largest of which is the highly diamondiferous Kahuna dike.  We have excellent DIM results in the northern project area that correlate to kimberlite pipe-style geophysical targets and will drill as many as possible between now and mid-July.”

Figure 1: Commercial-sized rough diamonds collected by Dunnedin from the Kahuna kimberlite in the northern project area as reported on February 8, 2017.

In addition to a large number of pipe targets the northern project area hosts the Kahuna kimberlite dike which contains a significant diamond resource that remains open to expansion along strike and at depth.  It has been drilled to shallow depths of generally less than 80 metres across approximately 4 kilometres of strike, and contains an Inferred Resource of 3,189,000 carats of diamonds (+0.85 mm) from 3,066,000 tonnes of rock, with a bulk sample grade of 1.04 carats per tonne (news release of January 26, 2015).

Figure 2: Drill targets to be tested during June and July 2018

Details of the Drill Program

The Company is using the same Rotary Air Blast (RAB) drill rig employed during the April drill program to test the maximum number of targets.  RAB drilling is faster and less expensive than comparable drill techniques, and will allow the Company to rapidly confirm:

1)  Whether kimberlite is present at each target,

2)  The size of each kimberlite occurrence, and

3)  In conjunction with lab results, whether the kimberlite is diamond-bearing.

While many of the identified kimberlite targets are expected to be at or nearly exposed at surface, several of the targets to be tested in June and July are covered by 10–20-metre-thick glacial sediment and are thus not directly exposed.  In addition to directly testing kimberlite targets, the RAB drill will also collect DIMs from these sediments.  The concentration of DIMs at each drill site will inform the Company regarding proximity to nearby diamond-bearing kimberlite sources, thereby enhancing the Company’s surface-based till sampling results.  This information will be used during follow-up drill programs to vector into covered diamondiferous kimberlites that remain undrilled during the current phase of work.

The current RAB drilling is expected to reach depths of 50 to 100 metres, with the goal of collecting up to 250 kilograms of material from each new kimberlite. The material will be analyzed for microdiamond content and results are expected to be received from the lab approximately 8-10 weeks after the drill campaign concludes.

Kimberlites that prove to be significantly diamondiferous will be further drill-tested to determine geometry and to obtain mini-bulk samples that will allow the Company to construct diamond curves characterizing the grades and size distributions of diamonds from each target.

The Company is currently awaiting diamond results from kimberlitic material collected during the first phase of drilling in April.

Jeff Ward, P.Geo, Vice President Exploration and a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained in this release.

For further information please contact Mr. Knox Henderson, Investor Relations, at 604-551-2360 or khenderson@dunnedinventures.com.

On behalf of the Board of Directors

Dunnedin Ventures Inc.

 

Chris Taylor

Chief Executive Officer

 

About the Kahuna Project

Dunnedin Ventures Inc. (TSX-V: DVI) is a Vancouver-based company whose primary asset is the 100% owned, advanced-stage Kahuna Diamond Project in Nunavut which hosts a high-grade, near surface inferred diamond resource and numerous kimberlite pipe targets.  The Company holds diamond interest in 1,664 km2 of mineral tenure located 26 kilometers northeast of Rankin Inlet and adjacent to Agnico Eagle’s Meliadine gold mine.  To define and prioritize kimberlite pipe targets Dunnedin has evaluated an extensive historic data set and recovered diamonds and indicator minerals from a series of kimberlite and till samples over three seasons of field work. Working with advisor and shareholder Dr. Chuck Fipke, the Company has used the same till sampling and mineral screening protocols employed during Dr. Fipke’s discovery of Canada’s first diamond mine at Ekati, N.W.T., but improved by over 20 years of additional diamond data and experience.  The Kahuna Diamond Project has an Inferred Resource Estimate of 3,987,000 tonnes at an average grade of 1.01 carats per tonne, totalling over 4 million carats of diamonds (+0.85 mm) (see news release dated March 31, 2015).  The largest diamond recovered from the property to date is 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.  Dunnedin is backed by a world-renown team of diamond experts with decades of combined experience in Arctic exploration and capital market strength.

 

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.

 

 

 

 

 

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04 Jun 2018

Dunnedin Provides Corporate Update

June 4, 2018 – Vancouver, British Columbia – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today announced estimates of the adjusted cost base allocation of Dunnedin common shares and Solstice Gold Corp. (“Solstice”) common shares for Canadian income tax purposes following the recent spin-out of Solstice through a statutory plan of arrangement (the “Arrangement”), and as outlined under the heading “Canadian Federal Income Tax Considerations” in Dunnedin’s Management Information Circular dated November 24, 2017 (the “Circular”). This is only applicable to shareholders of Dunnedin as of July 17, 2017, the record date of the Arrangement (the “Record Date”) who received Solstice shares. It is not applicable to the shares acquired as part of the Solstice Private Placement that closed January 31, 2018, nor to Dunnedin or Solstice shares acquired in the market after the Record Date.

Please note that while Dunnedin believes the allocation as outlined below is a reasonable allocation for Canadian income tax purposes, such allocation is not binding on either shareholders or the Canadian tax authorities, nor does it constitute legal or tax advice. Shareholders should therefore consult their own tax advisors in light of their particular circumstances.

For purposes of the Income Tax Act (Canada), the estimated reduction of the adjusted cost base of each Dunnedin common share held immediately prior to completion of the Arrangement is $(0.0532) and the new adjusted cost base of each Solstice share received on the spinout is $0.1596.

As an example, if the adjusted cost base of a pre-Arrangement Dunnedin common share was $0.25 to a shareholder resident in Canada, the adjusted cost base of that share would be allocated approximately as follows:

 

Entity Cost Base Adjustment Adjusted Cost Base
Dunnedin $(0.0532) $0.1968
Solstice $0.1596 $0.1596

 

Dunnedin also wishes to clarify that as outlined in the Circular, each Dunnedin warrant and stock option held as of the Record Date is deemed to have been exchanged for a fully-vested Dunnedin replacement warrant and stock option and one-third of one fully-vested Solstice warrant and stock option. The exercise prices for the Dunnedin replacement warrants and stock options have been adjusted to account for the Arrangement and are as follows:

Number of Warrants Outstanding Pre-Arrangement Exercise Price Post-Arrangement Exercise Price Expiry Date
5,358,754 $0.15 $0.10 September 2, 2018
   140,000 $0.22 $0.15 December 30, 2019
8,294,500 $0.35 $0.23 July 17, 2019
   662,500 $0.40 $0.27 July 17, 2019
1,118,180 $0.25 $0.17 July 17, 2019

 

Number of Options Outstanding Pre-Arrangement Exercise Price Post-Arrangement Exercise Price Expiry Date
1,300,000 $0.11 $0.07 November 12, 2019
   525,000 $0.11 $0.07 May 7, 2020
   200,000 $0.15 $0.10 August 4, 2021
3,500,000 $0.19 $0.13 September 6, 2021
   150,000 $0.19 $0.13 October 4, 2021
   150,000 $0.195 $0.13 December 7, 2018
1,260,000 $0.21 $0.14 January 18, 2022

 

Dunnedin also announces that Mr. Sorin Posescu has resigned, effective May 18, 2018, from the Company’s board of directors for personal reasons. The Company would like to thank Mr. Posescu sincerely for his contributions to the Company and wishes him well in his future endeavours.

For further information please contact Mr. Knox Henderson, Investor Relations, at 604-551-2360 or khenderson@dunnedinventures.com.

On behalf of the Board of Directors

Dunnedin Ventures Inc.

 

Chris Taylor

Chief Executive Officer

 

About the Kahuna Project

Dunnedin Ventures Inc. (TSX-V: DVI) is a Vancouver-based company whose primary asset is the 100% owned, advanced-stage Kahuna Diamond Project in Nunavut which hosts a high-grade, near surface inferred diamond resource and numerous kimberlite pipe targets.  The Company holds diamond interest in 1,664 km2 of mineral tenure located 26 kilometers northeast of Rankin Inlet and adjacent to Agnico Eagle’s Meliadine gold mine.  To define and prioritize kimberlite pipe targets Dunnedin has evaluated an extensive historic data set and recovered diamonds and indicator minerals from a series of kimberlite and till samples over three seasons of field work. Working with advisor and shareholder Dr. Chuck Fipke, the Company has used the same till sampling and mineral screening protocols employed during Dr. Fipke’s discovery of Canada’s first diamond mine at Ekati, N.W.T., but improved by over 20 years of additional diamond data and experience.  The Kahuna Diamond Project has an Inferred Resource Estimate of 3,987,000 tonnes at an average grade of 1.01 carats per tonne, totalling over 4 million carats of diamonds (+0.85 mm) (see news release dated March 31, 2015).  The largest diamond recovered from the property to date is 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.  Dunnedin is backed by a world-renowned team of diamond experts with decades of combined experience in Arctic exploration and capital markets strength.

 

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.

 

 

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10 May 2018

Dunnedin Provides Update on Ongoing Drilling at Kahuna Project – First Kimberlites Drilled by Company

May 10, 2018 – Vancouver, British Columbia – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today provides an update on its ongoing 2018 drill program at its 100% owned Kahuna project, Nunavut.  The Company has drill-tested five of approximately 40 targets (13%), with potentially diamond-bearing kimberlite intercepted at two targets.  Inclement weather limited drilling and confined operations to the vicinity of the Company’s newly constructed camp and the Company’s best kimberlite pipe-type targets with the highest associated diamond indicator minerals (“DIM”) have not yet been tested. Dunnedin plans to return the property in six to eight weeks to drill the remaining high priority targets.

Of the five targets drilled, two were high count DIM-in-till targets, both of which yielded significant extensions to the known high-grade diamond-bearing PST and 07KD-24 kimberlite dikes.  Concentrated DIMs-in-tills were clearly associated with adjacent OhmMapper geophysical responses and new kimberlite intercepts, demonstrating the effectiveness of Dunnedin’s targeting methods.

Chris Taylor, Dunnedin’s CEO said, “During April drilling, we were able to show that our DIM-based exploration methods work.  We confirmed that high concentrations of priority ranked DIMs correlate directly to new potentially diamond-bearing kimberlite in both areas where tested.  Unusually poor weather only allowed us to test a handful of targets near our camp, and we are eager to drill our main DIM targets as soon as field conditions allow. Many of these are associated with kimberlite pipe-type geophysical signatures and large, high-count DIM trains that appear highly prospective for new diamond discoveries.”

Progress to date includes:

  • Completion of 11 Rotary Air Blast (“RAB”) drill holes (plus two abandoned holes), of which eight contain kimberlite intercepts consistent with vertically dipping kimberlite dikes
  • Approximately 400 kg of kimberlitic material has been shipped to CF Mineral Research Ltd. of Kelowna, BC for diamond and indicator mineral recovery
  • Initial diamond recovery results are expected in approximately eight weeks
  • A 20 person field camp was established south central to the Kahuna Property to support future exploration programs
  • The OhmMapper geophysical technique was employed on the Kahuna property for the first time and, together with DIM-based exploration methods, appears to be a highly effective drill targeting technique

 

Figure 1: Dunnedin 2018 Drilling Update – 13% of targets drilled to date. There are multiple targets in each target area.

The first of the kimberlites drilled during the program is an on-strike extension to 07KD-24, an exceptionally diamond bearing kimberlite dike which historically returned over 305 diamonds including seven commercial-sized diamonds from a 2.2 kg sample.  Five drill holes in two locations spaced 100 metres apart were completed across this target, details of which are provided below.  The drilled strike length of this body is now 225 metres, and it remains open to extension along strike and down dip.

Drilling at the second kimberlite target successfully intercepted the along-strike continuation of the Company’s PST kimberlite dike, which previously returned an average sample grade of 4.02 carats per tonne from 2.03 tonnes (+0.85 mm), and high quality commercial sized diamonds during Dunnedin’s 2015-2017 work (see news release dated July 25, 2017).  Three drill holes were completed across this target at one location.  The PST kimberlite’s drilled strike length is now approximately 350 metres, and also remains open along strike and down dip.

Both PST and 07KD-24 appear to have greater strike extent than was apparent from past drilling and geophysical surveying.  No resource has yet been calculated on either target.

Three strong magnetic highs with lower DIM-in-till counts were also tested and were determined to be caused by magnetic bedrock formations.  Two of these contained significant intervals of silicified, sulphide-mineralized banded iron formation (“BIF”) and are prospective for gold mineralization similar to the adjacent Meliadine gold project of Agnico Eagle Mines Ltd. (TSX: AEM).  DIMs at these targets were likely sourced from undiscovered nearby diamond-bearing kimberlites.

 

Table 1: Highlighted RAB Drill Intercepts

Drill Hole Target Type Azimuth Dip From (m) To (m) Interval (m) Description of rock chips
18-RAB-001 Mag High 0 90 21.34 28.96 7.62 Silica and sulphide bearing BIF
18-RAB-002 DIM 300 60 51.82 54.86 3.05 Kimberlite and gneiss (07KD-24)
18-RAB-003 DIM 300 50 41.15 44.20 3.05 Kimberlite and gneiss (07KD-24)
18-RAB-004 DIM 300 70 65.53 73.15 7.62 Kimberlite and gneiss (07KD-24)
18-RAB-005 Mag High 0 90 3.05 45.72 42.67 Silica and sulphide bearing BIF
18-RAB-006 Mag High 0 90 4.57 38.10 33.53 Mafic intrusive
18-RAB-007 DIM 120 60 48.77 51.82 3.05 Kimberlite and gneiss (PST)
18-RAB-008 DIM 120 70 71.63 73.15 1.52 Altered gneiss and kimberlite (PST)
18-RAB-009 DIM 120 50 38.10 39.62 1.52 Kimberlite and gneiss (PST)
18-RAB-010 DIM 300 70 18.29 22.86 4.57 Kimberlite and gneiss (07KD-24)
18-RAB-011 DIM 300 80 68.58 73.15 4.57 Kimberlite and gneiss (07KD-24)

RAB drilling is an efficient way to evaluate shallow targets for diamond content (2018 holes ranged from 27.4 to 83.8 metres in length).  The RAB method produces chips and fine material brought to surface by pressurized air, drilled in 1.5 metre intervals. As a result, geological contacts are not distinct and true widths of kimberlite are unknown at this time. Intercepts reported herein include kimberlite and country rock that may represent dilution by adjacent country rock, internal xenoliths or down–hole dilution caused by the RAB drilling process itself. Over the course of winter RAB drilling, the Company completed 801.6 metres in 11 drill holes (plus two lost holes). A summary of drilling is provided as Table 1.

 

OhmMapper Geophysical Surveying

The majority of kimberlites drilled at the Kahuna project have a range of magnetic low and moderate magnetic high responses.  The diamond-bearing kimberlites drilled to date are typically moderate magnetic highs, and can be difficult to distinguish from background geology using only magnetic-based geophysical methods.

As part of the winter 2018 program, the Company evaluated ground electromagnetic responses in key target areas using the Geometrics OhmMapper Capacitive-Coupled Resistivity System, operated and post-processed by Aurora Geosciences. Survey results were highly successful at rapidly illuminating kimberlite dikes and associated alteration at depth.  This technique has been used by other Canadian diamond explorers including Kennady Diamonds (recently merged with Mountain Province Diamonds; TSX: MPDV) as a primary drill hole targeting tool.  It shows fine-scale resistivity contrasts in the shallow subsurface and was highly effective showing the location of the two potentially diamond-bearing kimberlites drilled by Dunnedin during this program, as shown in Figure 2.

The Company plans to complete additional Ohm Mapper surveys and test other ground electromagnetic methods in other priority areas. The combination of DIM-based target identification and resistivity-based ground geophysics appear to be very effective and complimentary methods of refining kimberlite targets for future drilling.

 

Figure 2: OhmMapper Section – Showing Resistivity Contrast Between Bedrock and Kimberlite

 

Mr. Jeff Ward, P.Geo, Vice President Exploration and a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained in this release.

For further information please contact Mr. Knox Henderson, Investor Relations, at 604-551-2360 or khenderson@dunnedinventures.com.

 

On behalf of the Board of Directors

Dunnedin Ventures Inc.

 

Chris Taylor

Chief Executive Officer

 

About the Kahuna Project

Dunnedin Ventures Inc. (TSX-V: DVI) is a Vancouver-based company whose primary asset is the 100% owned, advanced-stage Kahuna Diamond Project in Nunavut which hosts a high-grade, near surface inferred diamond resource and numerous kimberlite pipe targets.  The Company holds diamond interest in 1,664 km2 of mineral tenure located 26 kilometers northeast of Rankin Inlet and adjacent to Agnico Eagle’s Meliadine gold mine.  To define and prioritize kimberlite pipe targets Dunnedin has evaluated an extensive historic data set and recovered diamonds and indicator minerals from a series of kimberlite and till samples over three seasons of field work. Working with advisor and shareholder Dr. Chuck Fipke, the Company has used the same till sampling and mineral screening protocols employed during Dr. Fipke’s discovery of Canada’s first diamond mine at Ekati, N.W.T., but improved by over 20 years of additional diamond data and experience.  The Kahuna Diamond Project has an Inferred Resource Estimate of 3,987,000 tonnes at an average grade of 1.01 carats per tonne, totalling over 4 million carats of diamonds (+0.85 mm) (see news release dated March 31, 2015).  The largest diamond recovered from the property to date is 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.  Dunnedin is backed by a world-renowned team of diamond experts with decades of combined experience in Arctic exploration and capital markets strength.

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. Accordingly, readers should not place undue reliance on forward-looking statements.  Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, except as required by applicable securities laws.

 

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18 Apr 2018

Dunnedin Closes Over-Subscribed Placement and Raises $2 Million

April 18, 2018 – Vancouver, British Columbia – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today announced that it has closed an over-subscribed non-brokered private placement of non flow-through (each, a “NFT Unit”) and flow-through (each, a “FT Unit”) units for gross proceeds of $1,702,500 (the “Offering”).  The Company has also received $378,124 through exercise of common share purchase warrants since March 2018, for total gross proceeds of $2,080,624.

The Company has issued 5,341,667 NFT Units at a price of $0.30 per share and 250,000 FT Units at a price of $0.40 per share through the Offering. 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.  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 $0.47 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 $0.65 or greater for twenty consecutive trading days.

Chris Taylor, CEO of Dunnedin, said, “We look forward to advancing our exploration program at the Kahuna diamond project and testing a comprehensive suite of priority drill targets. The first phase of drilling is currently under way and we expect the diamond recovery results in Q2 and Q3. These results will inform the prioritization of further drill targets and we are now funded to add a second phase of drilling in the summer.”

Proceeds of the Offering will be used in part to fund the Company’s 2018 exploration program on the Kahuna Diamond Project in Nunavut and for general corporate purposes.

In connection with closing of the placement the Company paid finders’ fees of $45,642 and issued 136,140 share purchase warrants exercisable to acquire a common share of the Company at a price of $0.35 for a period of twenty-four months (each, a “NFT Broker Warrant“) and 12,000 share purchase warrants exercisable to acquire a common share of the Company at a price of $0.47 for a period of twenty-four months (each, a “FT Broker Warrant“) to eligible parties who introduced subscribers to the placement.  Each NFT and FT Broker Warrant is exercisable 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.

For further information please contact Mr. Knox Henderson, Investor Relations, at 604-551-2360 or khenderson@dunnedinventures.com.

On behalf of the Board of Directors

Dunnedin Ventures Inc.

 

Chris Taylor

Chief Executive Officer

 

About the Kahuna Project

Dunnedin Ventures Inc. (TSX-V: DVI) is a Vancouver-based company whose primary asset is the 100% owned, advanced-stage Kahuna Diamond Project in Nunavut which hosts a high-grade, near surface inferred diamond resource and numerous kimberlite pipe targets.  The Company holds diamond interest in 1,664 km2 of mineral tenure located 26 kilometers northeast of Rankin Inlet and adjacent to Agnico Eagle’s Meliadine gold mine.  To define and prioritize kimberlite pipe targets, Dunnedin has evaluated an extensive historic data set and recovered diamonds and indicator minerals from a series of kimberlite and till samples over three seasons of field work. Working with advisor and shareholder Dr. Chuck Fipke, the Company has used the same till sampling and mineral screening protocols employed during Dr. Fipke’s discovery of Canada’s first diamond mine at Ekati, NWT., but improved by over 20 years of additional diamond data and experience.  The Kahuna Diamond Project has an Inferred Resource Estimate of 3,987,000 tonnes at an average grade of 1.01 carats per tonne, totalling over 4 million carats of diamonds (+0.85 mm) (see news release dated March 31, 2015).  The largest diamond recovered from the property to date is 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.  Dunnedin is backed by a world-renowned team of diamond experts with decades of combined experience in Arctic exploration and capital markets strength.

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. Accordingly, readers should not place undue reliance on forward-looking statements.  Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, except as required by applicable securities laws.

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05 Apr 2018

Dunnedin Expands 2018 Exploration Program and Announces $1.5M Non-Brokered Private Placement

April 5, 2018 – Vancouver, British Columbia – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) announces that it will expand its 2018 exploration program and undertake a C$1,500,000 million private placement to fund this additional work.  Advisors, management and close associates will participate for approximately C$1,000,000 of the placement.

 

Expanded Program

Dunnedin has defined over 30 drill targets to test for diamondiferous kimberlite, 17 of which are scheduled to be drilled during its current spring program (see March 29, 2018 news release). Further targets will be tested in a second phase of drilling, slated to begin in summer 2018.  In addition, kimberlites found to be diamond-bearing during Phase 1 will require follow-up drill holes to define their size and shape, and to collect larger samples for diamond recovery. While a rotary air blast rig is being utilized during Phase 1 drilling, a core rig will be used to accurately define phases of kimberlite and correlate them to diamond content during Phase 2. Maps showing all drill targets, including those planned for Dunnedin’s Phase 2 program, are provided as Figures 1a and 1b below.

Dr. Charles (Chuck) Fipke, Dunnedin’s advisor and discoverer of Canada’s first diamond mine at Ekati commented, “The abundance and quality of diamond indicator minerals at Dunnedin’s Kahuna project is exceptional and bodes well for the potential discovery of new diamond sources. I look forward to the drill results and will continue assisting the Dunnedin team with the exploration and development of this project.”

Chris Taylor, Dunnedin’s CEO said, “Our diamond indicator mineral (DIM) work accurately highlights the location of all previously drill-confirmed diamond occurrences on the property.  Many new, undrilled targets with similar DIM fingerprints in till have now been identified. Some of the targets cannot be drilled with our current rig due to field conditions and we have more high-quality targets than we can test with our current drill budget.  It is our intention to fund a second phase of drilling in advance, so that such work can be expedited as soon as diamond recovery results are received from Phase 1.”

Figure 1a: 2018 Drill Targets, Including Phase 2 Summer Targets (yellow) – South Boundary Area

Figure 1b: 2018 Drill Targets, Including Phase 2 Summer Targets (yellow) – Josephine Area

 

Private Placement

The Company plans to raise approximately C$1,500,000 through the issuance of a combination of non-flow-through units (each, a “NFT Unit”) and flow-through units (each, a “FT Unit”) in a non-brokered private placement (the “Offering”). The Company’s advisors, management and close associates will participate for approximately C$1,000,000 of the Offering.

Each NFT Unit will be offered at a price of $0.30 and will consist of one common share and one-half of one share purchase warrant, with each whole warrant entitling the holder to acquire an additional common share at a price of $0.35 for a period of twenty-four months.  Each FT Unit will be offered at a price of $0.40 and will consist of one “flow-through” common share and one-half of one share purchase warrant, with each whole warrant entitling the holder to acquire an additional non-flow-through common share at a price of $0.47 for a period of twenty-four months. The Offering is expected to close on or before April 19, 2018, and is subject to regulatory approval.

The Company will determine the allocation of NFT Units and FT Units based on investor interest.  The Offering will result in the issuance of between 3,750,000 and 5,000,000 units depending upon the ratio of NFT Units and FT Units issued.  The share purchase warrants issued as part of the NFT Units and the FT Units will be subject to accelerated expiry if, at any time after the date that is four months and one day after the closing of the Offering, the closing price of the common shares of the Company on the TSX Venture Exchange is $0.65 or greater for twenty consecutive trading days.

The proceeds from the Offering will be used to fund the Company’s expanded 2018 exploration program on its Kahuna Project, and for general corporate purposes. All securities issued in the Offering will be subject to a four month hold period.

Shareholders seeking further information about participation in the Offering should contact the Company at the telephone number or email address below.

 

QA/QC

Till samples collected on the Kahuna property are shipped to the CF Mineral Research Ltd. (“CFM”) laboratory in Kelowna, BC for processing and analysis. CFM employs proprietary mineral chemistry filters and classification criteria to determine diamond indicator minerals (“DIM”), which distinguish indicator minerals that formed with diamonds from indicators associated with kimberlite host rocks (“KIM”). Sample sites are subsequently ranked from 1 (low priority) to 10 (high priority) based on both the quantity and quality of DIMs and quantity of KIMs in each sample. CFM operates using reference standards, quality assurance protocols, security and operating procedures for processing, recovery and reporting of kimberlite indicator minerals. The CFM laboratory is accredited and audited for international quality standards through the International Organization for Standardization/International Electrotechnical Commission (ISO/IEC) 17025:2005, which includes ISO 9001:2015 specifications.

Jeff Ward, P.Geo, Vice President Exploration and a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained in this release.

For further information please contact Mr. Knox Henderson, Investor Relations, at 604-551-2360 or khenderson@dunnedinventures.com.

On behalf of the Board of Directors

Dunnedin Ventures Inc.

 

Chris Taylor

Chief Executive Officer

 

About the Kahuna Project

Dunnedin Ventures Inc. (TSX-V: DVI) is a Vancouver-based company whose primary asset is the 100% owned, advanced-stage Kahuna Diamond Project in Nunavut which hosts a high-grade, near surface inferred diamond resource and numerous kimberlite pipe targets.  The Company holds diamond interest in 1,664 km2 of mineral tenure located 26 kilometers northeast of Rankin Inlet and adjacent to Agnico Eagle’s Meliadine gold mine.  To define and prioritize kimberlite pipe targets Dunnedin has evaluated an extensive historic data set and recovered diamonds and indicator minerals from a series of kimberlite and till samples over three seasons of field work. Working with advisor and shareholder Dr. Chuck Fipke, the Company has used the same till sampling and mineral screening protocols employed during Dr. Fipke’s discovery of Canada’s first diamond mine at Ekati, N.W.T., but improved by over 20 years of additional diamond data and experience.  The Kahuna Diamond Project has an Inferred Resource Estimate of 3,987,000 tonnes at an average grade of 1.01 carats per tonne, totalling over 4 million carats of diamonds (+0.85 mm) (see news release dated March 31, 2015).  The largest diamond recovered from the property to date is 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.  Dunnedin is backed by a world-renowned team of diamond experts with decades of combined experience in Arctic exploration and capital markets strength.

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. Accordingly, readers should not place undue reliance on forward-looking statements.  Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligationto update any forward-looking statements, except as required by applicable securities laws.

 

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29 Mar 2018

Dunnedin Reports Drill Plans And Commences 2018 Exploration Program

March 27, 2018 – Vancouver, British Columbia – Dunnedin Ventures Inc. (the “Company”) (TSX-V: DVI) today reports its drill plans and announces the commencement of its 2018 exploration program. Drill crews and equipment have been mobilized and preparations are under way to commence drilling of high–priority kimberlite targets at its 100% owned Kahuna project, Nunavut.  Drilling is expected to begin near the end of March and will continue through April as conditions permit.

A total of 17 high-priority targets have been identified for drill testing in the winter of 2018.  Most targets are pipe-like geophysical signatures associated with diamond indicator mineral chemistry occurring down-ice. In addition, drilling will investigate untested “blows”, or potentially wide sections along known high-grade diamond bearing kimberlite dikes. In order to ground-truth and delineate the drill targets, ground geophysical surveying using magnetic and OhmMapper electric-resistivity methods are currently being undertaken.

Chris Taylor, Dunnedin’s CEO stated, “We have observed excellent indicator mineral chemistry that is associated with diamonds at producing mines in till samples collected down-ice from our new drill targets.  In many locations the known diamond-bearing kimberlite dikes are unlikely to be the source of this chemistry, and the potential to identify new diamond-bearing kimberlites is high in these areas.”

Claudia Tornquist, Dunnedin’s President said, “This drill program is the culmination of three years of field work and the analysis of an extensive historic data set. We are fortunate to count Dr. Charles (Chuck) Fipke as our advisor whose expertise in prioritizing the most prospective drill targets is second to none. Our world-class exploration team benefits from many years of experience in Nunavut, and I am confident we have all the pieces in place to make this drill program a success.”

The 2018 winter drill targets occur in six priority clusters on the Kahuna Property and are presented as Figure 1a and 1b below.  The Company’s extensive historic geophysical database was used to model target areas three dimensionally and several targets demonstrate significant depth extent below 200 metres.  An example of geophysical compilation and modelling on high priority target KH009-01 is provided as Figure 2.

Dunnedin will utilize a Rotary Air Blast (“RAB”) rig to economically test the maximum number of targets during this maiden drill program.  The drilling is expected to reach depths of 50 to 75 metres, with the goal of collecting up to 250 kilograms of material from each new kimberlite. The material will be analyzed for microdiamond content and results are expected in late Q2 2018. Kimberlites that prove to be significantly diamondiferous will be further tested on future programs to determine size and to obtain mini-bulk samples. In addition, the Company continues to complete indicator mineral recovery, analysis and ranking from a remaining 733 priority till samples collected on the Kahuna property in 2017. Results will further delineate the six priority areas on the property (see February 22, 2018 news release).

Figure 1a: Winter 2018 Drill Targets – South Boundary Area

Figure 1b: Winter 2018 Drill Targets – Josephine Area

Figure 2: Geophysical Compilation of Kimberlite Target KH009-01

QA/QC

Till samples collected on the Kahuna property are shipped to the CF Mineral Research Ltd. (“CFM”) laboratory in Kelowna, BC for processing and analysis. Processed heavy mineral concentrates are picked for kimberlite indicator minerals (“KIM”) and high probability kimberlitic grains are selected and probed by scanning electron microprobe (“SEM”) for constituent chemistry, providing definitive mineral identification. CFM employs proprietary mineral chemistry filters and classification criteria to determine diamond indicator minerals (“DIM”), which distinguish indicator minerals that formed with diamonds from those just associated with kimberlite host rocks. Sample sites are subsequently ranked from 1 (low priority) to 10 (high priority) based on both the quantity and quality of DIMs and quantity of KIMs in each sample. This discrimination using proprietary CFM classifications and rankings allow the Company to potentially differentiate diamond-bearing kimberlite sources from those which are not.

CFM operates using reference standards, quality assurance protocols, security and operating procedures for processing, recovery and reporting of kimberlite indicator minerals. The CFM laboratory is accredited and audited for international quality standards through the International Organization for Standardization/International Electrotechnical Commission (ISO/IEC) 17025:2005, which includes ISO 9001:2015 specifications.

Jeff Ward, P.Geo, Vice President Exploration and a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained in this release.

For further information please contact Knox Henderson, Investor Relations, at 604-551-2360 or khenderson@dunnedinventures.com.

On behalf of the Board of Directors

Dunnedin Ventures Inc.

Chris Taylor

Chief Executive Officer

About the Kahuna Project

Dunnedin Ventures Inc., (TSX-V: DVI) is a Vancouver-based company whose primary asset is the 100% owned, advanced-stage Kahuna Diamond Project in Nunavut which hosts a high-grade, near surface inferred diamond resource and numerous kimberlite pipe targets.  The Company holds diamond interest in 1,664 km2 of mineral tenure located 26 kilometers northeast of Rankin Inlet and adjacent to Agnico Eagle’s Meliadine gold mine.  To define and prioritize kimberlite pipe targets Dunnedin has evaluated an extensive historic data set and recovered diamonds and indicator minerals from a series of kimberlite and till samples over three seasons of field work. Working with advisor and shareholder Dr. Chuck Fipke, the Company has used the same till sampling and mineral screening protocols employed during Dr. Fipke’s discovery of Canada’s first diamond mine at Ekati, N.W.T., but improved by over 20 years of additional diamond data and experience.  The Kahuna Diamond Project has an Inferred Resource Estimate of 3,987,000 tonnes at an average grade of 1.01 carats per tonne, totalling over 4 million carats of diamonds (+0.85 mm) (see news release dated March 31, 2015).  The largest diamond recovered from the property to date is 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.  Dunnedin is backed by a world-renowned team of diamond experts with decades of combined experience in Arctic exploration and capital markets strength.

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.

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