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.

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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.

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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.

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05 Jun 2017

New Kimberlite Pipe Targets with Diamond Potential Identified at Kahuna

June 5, 2017 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today reported the identification of new kimberlite pipe targets with down-ice till chemistry matching known diamond-bearing kimberlite dikes at the Kahuna project.  These are priority drill targets for 2017 that the Company believes have strong diamond potential.

Figure 1: Kimberlite pipe targets with diamond indicator minerals (“DIMs”) in down-ice tills. Individual targets shown in insets.  Magnetic total field geophysics shown.  Results are from 208 of 1,111 samples received to date.

 

The Company processed kimberlite from the highly diamondiferous Kahuna, PST and Notch kimberlite dikes and also from the KEM dike, a barren body, to compare the indicator mineral signatures of diamondiferous versus barren kimberlites.  All three of the Kahuna, PST and Notch had certain indicator mineral chemistries in common that were absent in the barren body.  These diamond-associated mineral chemistries have now been recovered from till samples down-ice from new kimberlite pipe targets in several areas.

“The Kahuna project covers one of the largest, mostly under tested kimberlite pipe fields in Canada,” said Chris Taylor, CEO of Dunnedin. “While we remain positive on the potential of our diamond-bearing kimberlite dikes such as Kahuna, Notch and PST, the opportunity to additionally benefit our shareholders through a new discovery drives us to also test the pipes.  With these new results in hand, we aim to make 2017 a year of discovery, diamond valuation and resource growth.”

Summary of Results

  • Results received for 208 of 1,111 (19%) till samples collected in summer 2016, with results from the remaining 903 samples expected to be received through June.
  • To-date, up to seven potentially diamond-bearing kimberlite pipe targets have been identified with associated DIM dispersions in down-ice tills. Targets will be ranked for follow up exploration and drilling once all results are received.  The total number of targets, and their relative strengths based on DIM content, will be provided at that time.
  • Field crews will be mobilized during June to begin field investigations of these and other targets across the Kahuna project, with drilling expected to being this summer.
  • The Kahuna project is notable for yielding DIM chemistry associated with large diamonds recovered at producing diamond mines, including Ekati, which has been validated by recovery of large diamonds (up to 13.42 carats) at Kahuna.
  • Certain chemistries of the DIMs clinopyroxene, chromite, garnet and picroilmenite are observed consistently within the diamond-bearing kimberlite dikes, and are also found down-ice from the newly identified targets.
  • The geophysical signature of historically drilled kimberlite pipes generally consists of negative in-phase electromagnetic responses and variously high and low magnetic responses that are distinctive from background geology. The newly identified kimberlite pipe targets are consistent with these signatures, but require drilling to verify.

 

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 Till Sampling for Diamond Exploration

Glacial till sampling is used extensively in the Canadian Arctic as a primary exploration tool leading to most major diamond discoveries, the most famous example of which is Ekati, which was discovered by Dunnedin’s advisor Dr. Charles Fipke.

Heavy mineral recovery from tills retrieves kimberlite indicator minerals (‘KIMs’) that were eroded from kimberlites by glaciers and deposited “down-ice”. This creates a train of positive till samples that can be tracked back to their original source

Some KIMs have chemical signatures that indicate source within the diamond stability field in the lower continental crust.  These are referred to as Diamond Indicator Minerals, or DIMs.  Certain DIM chemistries are known to be characteristic of the occurrence of larger diamonds, based on data sets collected from producing diamond mines.  The Kahuna project’s diamond-bearing kimberlites contain these DIMs, and have also yielded large diamonds.

Dunnedin’s till sampling program utilizes the same sampling and mineral ranking techniques as applied at Ekati, which can predict the potential of kimberlites to host diamonds with a high degree of confidence. The ranking employs proprietary mineral chemistry filters developed at CF Mineral Research Ltd. (“CFM”) of Kelowna, British Columbia, under the direction of Dr. Fipke.

 

About the Kahuna Project

Kahuna is an advanced stage high grade diamond project located near Rankin Inlet, Nunavut.  Dunnedin is now recovering diamonds and indicator minerals from a series of kimberlite and till samples collected in 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).

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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01 May 2017

Dunnedin Earns 100 Percent of Kahuna Project And Progresses Spin-Out

May 1, 2017 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today reported it has entered into a Letter Agreement (the “Agreement”) whereby it will accelerate its Option Agreement (the “Option”) payments and receive a 100% undivided interest in the Kahuna project, Nunavut.

 

Under the terms of the Agreement, Dunnedin will earn a 100% interest in the Kahuna project and in return pay the Kahuna project vendors Gary R. Thompson and Sorin Posescu (the “Vendors”) the remaining cash and shares required under the underlying Option.  The Company will pay $350,000 and issue 4,400,000 common shares of the Company as follows:

 

  • $100,000 upon signing

 

  • 4,400,000 common shares upon signing, and

 

  • $250,000 upon completion of its next financing

 

Having signed the Agreement Dunnedin will now proceed with its intention to spin out its 100% owned Trapper gold-copper property located in the Sutlahine area of Northern British Columbia, along with rights to gold mineralization at its Kahuna diamond project, located in Nunavut.  The project and rights will be spun out into a wholly-owned subsidiary (“SpinCo”), pursuant to a Plan of Arrangement (the “Arrangement”), under the Business Corporations Act (British Columbia).  The Arrangement will also include an agreed upon working capital amount to facilitate exploration activities at these projects.  The date of record for the Arrangement will be announced imminently.

The Plan of Arrangement is subject to TSX Venture Exchange, regulatory and court approval, and the approval of the Company’s shareholders at an annual general and special meeting to be held as soon as is practical.  Pursuant to the arrangement, the common shares of SpinCo will be distributed to shareholders of the Company on a pro rata basis.  The Company intends to apply for a listing of the shares of SpinCo on the TSX Venture Exchange.  Any such listing will be subject to SpinCo fulfilling all of the requirements of the TSX Venture Exchange.  There will be no change in shareholders’ holdings in Dunnedin as a result of the Arrangement.

The Kahuna project Vendors will retain Gross Overriding royalties on diamonds and Net Smelter Royalties on gold and other metals as per the underlying Option.

 

Exploration Update

 

The Company has received and is reviewing final diamond recovery results from its sampling of the PST kimberlite, which will be released upon completion of the QAQC review as soon as possible.  Diamond indicator mineral results are also expected during May from the first prioritized till samples collected in 2016 across the Kahuna project.  Further diamond indicator mineral results and gold results from till sampling will follow.

 

Results will guide the upcoming summer exploration program, which will include in-field follow-up on high priority diamond indicator mineral sources, drilling of these targets, sample site preparation in advance of bulk sampling of diamondiferous kimberlites, and follow-up on recently identified gold mineralization in bedrock and tills in advance of drilling.

 

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

 

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 and also hosts gold mineralization in metasediment units.

 

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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18 Jan 2017

Notch Kimberlite Yields Additional High Quality Commerical-Sized Diamonds

January 18, 2017 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) is pleased to report additional diamond recoveries from the Notch kimberlite.  A third, 43.78 kg sample of Notch returned 4 commercial-sized stones (+0.85 mm) totalling 0.43 carats, for a sample grade of 9.72 carats per tonne. The largest recovered diamond was a 0.16 carat clear and colourless elongated octahedron.  Results are provided in the table below along with Dunnedin’s previous results, and an image of the largest diamond.

 

Table 1: Diamonds recovered from the Notch 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 Sample Grade

(cpt)

Largest Diamonds

(carats)

Notch 1 1.02 278 0.66 175 67 26 8 2 0 0.65 0.10, 0.08, 0.05
Notch 2 1.30 318 1.29 179 90 33 11 3 2 0.99 0.23, 0.17, 0.09
Notch 3 0.04 9 0.43 5 0 2 0 2 0 9.72 0.16, 0.08, 0.01
TOTAL 2.36 605 2.38 359 157 61 19 7 2 1.01

 

Figure 1: Image of the largest diamond recovered from the third Notch sample.

Figure 1: Image of the largest diamond recovered from the third Notch sample.

Chris Taylor, Dunnedin’s CEO, said, “Dunnedin has three main diamond exploration goals for 2017.   First, we aim to define 10 million carats of Inferred Resource at an average grade of more than 1.0 carat per tonne through additional drilling of the Kahuna and Notch kimberlites.  Second, we plan to bulk sample the Kahuna, Notch and PST kimberlites to assemble a package of commercial sized diamonds for valuation purposes.  Third, we plan to drill a number of new diamond indicator mineral sources that have been identified through till analysis which may represent new diamond-bearing kimberlite pipes and dikes.”

Current Notch results are from a sample randomly partitioned for additional geochemical study, which was visually similar to other samples of Notch, despite the very high sample grade.  Most of the Notch diamonds recovered by Dunnedin are clear and colourless variants of octahedra.  The Notch 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.

The Company has also granted an aggregate of 1,260,000 stock options to directors, advisors and consultants of the Company, exercisable at $0.21 per share for a period of five years.

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

 

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  during 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 and also hosts gold mineralization in metasedimentary units.

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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07 Dec 2016

Dunnedin Doubles Area of Kahuna Project

December 7, 2016 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today announced it has increased the size of the Kahuna diamond project by staking an additional 59 claims totaling 66,047 hectares.  The project is now approximately 120,000 hectares (1,200 square kilometres) in size.  The Kahuna project now consists of:

  • Over 100 interpreted kimberlite pipe targets, 50 of which are currently being screened for down-ice diamond indicator mineral (“DIM”) chemistry from till sampling;
  • Over 200 kilometres of aggregate strike length of a kimberlite-intruded structural network including 10 drill-proven diamond bearing kimberlite dikes with sample grades ranging from 0.66 to 6.5 carats (+0.85 mm) per tonne, and;
  • Five confirmed gold-bearing metasediment belts with approximately 190 kilometres of aggregate strike length, including drill-confirmed gold in an extension of the Aqpik and Aklak host stratigraphy held by Agnico Eagle Mines Ltd. (TSE: AEM, “Agnico”) on the Meliadine property.

The Company notes an increasing level of exploration and development activity in the Kahuna and Meliadine project area, with Agnico recently entering into mineral exploration agreements extending their land position into areas of Inuit-owned subsurface rights adjacent to Dunnedin’s claims.  Most recently, NxGold Ltd. (TSX-V: NXN, “NxGold”) announced a $35+ million earn-in deal for a 70% interest in a 8,473 hectare (85 square kilometre) land package adjacent to the Meliadine claims.  An updated claims map is provided below in Figure 1.

As previously announced (see Dunnedin news release of November 23, 2016), Dunnedin intends to undertake a plan of arrangement to spin out its gold and copper assets, consisting of the gold rights at the Kahuna project in Nunavut and its Trapper copper-gold porphyry property in British Columbia.  Further information including a date of record will be provided when details are available.

About the Kahuna Project

Kahuna is an advanced stage high grade diamond project located near Rankin Inlet, Nunavut, where Dunnedin is earning a 100% interest.  Dunnedin is recovering diamonds and indicator minerals from a series of kimberlite and till samples collected in summer 2015, and has completed a 1,100 till sample program in summer 2016.  The Company anticipates beginning a drilling and bulk sampling program in 2017 that will test potential extensions to recently published Inferred Resources, assemble a valuation parcel of approximately 1,000 carats of commercial-sized diamonds, and test a number of newly defined high priority kimberlite targets that have yielded populations of diamond indicator minerals.

Kahuna project land position December 2016 showing gold zones on adjacent claims and drill-confirmed diamond bearing kimberlites at Kahuna.

Figure 1: Kahuna project land position December 2016 showing gold zones on adjacent claims and drill-confirmed diamond bearing kimberlites at Kahuna.

An Inferred Resource released by Dunnedin (see Dunnedin news release of January 26, 2015) identified over 4 million carats of macrodiamonds (+0.85 mm) at a grade of 1.01 carats per tonne along the partial strike length of the Kahuna and Notch kimberlites through shallow drilling.  The largest diamond recovered was a 5.43 carat stone from the Kahuna dike which was part 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 2.32 tonne sample of the Notch kimberlite which returned 85 macrodiamonds totalling 1.95 carats (+0.85 mm).

The Kahuna project is located adjacent to the development-stage Meliadine gold project of Agnico Eagle Mines Ltd. and has also yielded gold results, including visible gold in drill core, gold mineralization in the strike extension of the Meliadine host stratigraphy, and new gold-in-till targets proximal to diamond-bearing kimberlites. Agnico’s Meliadine project 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).

On December 6, 2016, the Company granted 150,000 Options to a Consultant of the Company.  The Options are exercisable at a price of $0.195 per share for a period of two years from the date of grant. The Options were granted pursuant to the Company’s shareholder-approved stock option plan and are subject to the policies of the TSX Venture Exchange and any applicable regulatory hold periods.

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

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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25 Jul 2016

New Targets Identified At Kahuna

       New Targets Identified At Kahuna

 

July 25, 2016 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) is pleased to report the identification of new diamond-bearing kimberlite targets through till sampling at the Kahuna project. Till sampling results include identification of potential for:

  • Extensions to known diamond-bearing kimberlite dikes
  • New diamond-bearing kimberlite dike targets
  • New diamond-bearing kimberlite pipe targets
  • Diamond-bearing kimberlite sources in areas that historically produced nil results

 

Dunnedin’s CEO Chris Taylor said, “Using methods pioneered by our advisor Dr. Chuck Fipke and previously applied at Ekati, we have identified a number of new areas that are sourcing high quality diamond indicator minerals.  With the success of the 2015 test program, Dunnedin plans to expand its sampling over larger areas of the property to build, for the first time, an accurate picture of how many potential diamondiferous kimberlite sources are in fact present at Kahuna.”

 

2015 Till Sampling Program

In collaboration with its technical advisor Dr. Charles Fipke and director Mr. Chad Ulansky, the Company completed a glacial till orientation test sampling program in summer 2015, comprising 118 samples. Glacial till sampling recovers kimberlite indicator minerals (‘KIMs’) that were eroded from kimberlites by glaciers and deposited “down-ice”. This creates a train of positive till samples that can be tracked back to their original source.  It is used extensively in the Canadian Arctic as a primary exploration tool leading to most major diamond discoveries, one of the most famous examples of which is Ekati.

Dunnedin’s test program utilized the same sampling and mineral ranking techniques as applied at Ekati, which can predict the potential of kimberlites to host diamonds with a high degree of confidence. The ranking employs proprietary mineral chemistry filters developed at CF Mineral Research Ltd. (“CFM”) under the direction of Dr. Fipke.  Information on the sampling and ranking protocols are provided on Dunnedin’s web site at www.dunnedinventures.com.

2015 Till Results

Historically, eighteen kimberlite pipes were drill-confirmed at the Kahuna project, along with a large number of kimberlite dikes.  During 2015, Dunnedin ranked historical KIM data through the CFM filters, identifying 29 new target areas, of which ten were tested with new sampling.  All returned KIMs in tills down-ice from the targets, supporting the presence of kimberlite, while eight of the ten target areas contain Diamond Indicator Minerals (‘DIMs’).  DIMs have specific chemistry that is observed in mineral inclusions inside of diamonds, and their presence in tills is strongly diagnostic of the diamond-bearing potential of the source kimberlite and is therefore prioritized by the CFM filters.

Results of Dunnedin’s 2015 program include:

  • High DIM counts were confirmed in tills immediately down-ice from all tested diamond-bearing dikes including Kahuna, Notch and PST, confirming that diamond-bearing kimberlites are readily detectable using Dunnedin’s till sampling protocols.

 

  • Potential diamond-bearing kimberlite pipes were identified in three new locations where DIMs in tills are directly down-ice from geophysical targets defined by circular coincident magnetic responses and resistivity lows. This geophysical signature is consistent with pipes that were historically drilled elsewhere on the property; however the new targets are apparent DIMs sources while the historically drilled pipes were not.  Dunnedin will analyze all historical data to determine the actual number of potential pipes, and which of these should also be tested down-ice for DIMs.

 

  • Identification of apparent strike-length extensions to drilled diamond-bearing dikes, including Kahuna, Notch, PST and 07KD-24. Notably, 07KD-24 historically yielded an unprecedented 305 diamonds including seven commercial-sized diamonds (+0.85mm) from a drill core sample of 2.2 kilograms.  Very high DIM counts are present over 600 m of strike perpendicular to ice transport direction in the vicinity of 07KD-24, suggesting significant possible strike extent for this kimberlite.

 

  • Many areas of the project have yielded significant DIM counts where historic till sampling produced nil results. These positive results are believed to be due to the more effective sampling protocols introduced to Dunnedin by Dr. Fipke.

 

  • All 118 of the Company’s till samples contained KIMs, with 78 containing diamond indicator minerals. Dunnedin’s initial assessment based on geophysics, satellite imagery and past drilling that a dense kimberlite-intruded structural network is present on the project with over 180 kilometers of aggregate strike is also supported by the widespread KIM and DIM results (see Dunnedin news release of June 29, 2015).

 

A property-scale map of target areas and DIM counts is presented below, along with a summary table of results.  Maps of each new target area will be posted to the Company’s web site along with detailed DIM results.

Given the success of the pilot-scale till sampling program, the Company’s advisor Dr. Fipke has suggested a property-scale program should now be undertaken in order to identify all potential diamond sources.  The broader till sampling program is slated to begin in August 2016 and will progress in stages contingent upon results.

Mr. R. Bob Singh, P.Geo, Exploration Manager for Dunnedin, is the qualified person responsible for the technical content of this news release.

 

Figure 1: Map of new DIM sources showing DIM counts for each target.

table 1 target description

Table 1: New target descriptions as shown on Figure 1.


Target
Target Type DIM Results
B7 Pipe;

Interpreted pipe cluster

10 Samples collected, 4 samples returned DIMs
B1 Pipe and Dike;

Interpreted string of several pipes, 2 of which are drill confirmed, plus dikes

8 Samples collected, all 8 returned DIMs defining two distinct pipe targets  (B1 and B1a).  Several dikes are also interpreted to cross the area.  DIMs could be sourced by either or both target types
A1 Dike;

Up-ice from PST

One sample collected and returned DIMs defining a new dike target
B8 Pipe;

Known pipe cluster,

6 of which are drill confirmed

4 samples were collected, all returning DIMs down-ice from an untested pipe-type target; historic drilling tested pipes within the down-ice dispersion train from this source
B6 Pipe;

Interpreted pipe no drilling in area

4 samples collected, 3 returned DIMs

 

About the Kahuna Project

Kahuna is an advanced stage diamond project located near Rankin Inlet, Nunavut.  An Inferred Resource released by Dunnedin showed over 4 million carats of macrodiamonds (+0.85 mm) at a grade of 1.01 carats per tonne had been defined along the partial strike length of the Kahuna and Notch kimberlite dikes through shallow drilling.  The largest diamond recovered was a 5.43 carat stone from the Kahuna dike that had been broken during sample processing 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 1.02 tonne sample of the Notch kimberlite that returned 36 commercial-sized diamonds (+0.85 mm) totalling 0.66 carats (+0.85 mm).

While the till sampling and KIM chemical filters applied by Dr. Fipke have historically been very successful at discovering and ranking diamondiferous kimberlites, and have also successfully identified the known diamond-bearing kimberlites at Kahuna, assessing the commercial diamond potential of any new discovery also requires drill delineation, bulk sampling and diamond valuation.

On behalf of the Board of Directors,

Chris Taylor

Dunnedin Ventures, CEO

 

For further information please contact Mr. Chris Taylor, M.Sc., P.Geo, CEO at 604 681 0084.

 

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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