MONTRÉAL, QUÉBEC–(Marketwired – Dec. 5, 2017) – Canadian Metals Inc. (The “Company”) (CSE:CME)(CSE:CME.CN)(CNSX:CME) is pleased to announce that it has received the Certificate of Authorization (CA) for the Langis Silica Project from the Québec Ministère du Développement Durable, de l’Environnement et de la lutte contre les changements climatiques (“MDDELCC”). The Certificate of Authorization represents the principal regulatory approval required to start the operation of the Langis quarry, and has been issued by the Québec regulators.
Hubert Vallée said, “The CA for the operation of the Langis quarry is an important milestone for the development of our Silicon Alloys project, we would consider to sign offtake contract with customer for the Quartz of Langis and potentially operate the quarry next spring. I must say thanks to our consultant expert WSP (Eric Lucas) and Golminds Geoservices (Claude Duplessis) for their precious help to get our CA. This demonstrates again the strongest of the development team of Canadian Metals who put together the best team to achieve this milestone.”
Stephane Leblanc, Canadian Metals Chief Investment officer commented: “Today’s news represents the most significant milestone in the development of the Langis Project achieved to date. The MDDELCC Certificate of Authorization is the one very most important element of the permitting process in Québec. As of today we are able to say that the principal regulatory hurdle for the Langis Project is behind us.”
The Company is not basing its production decision on a feasibility study of mineral reserves demonstrating economic and technical viability. Decision to apply for a BEX and CA is not based on Prefeasibility or Feasibility and as such uncertainty on economic parameters and technical risks of failure associated with its production decision exist.
About Canadian Metals
Canadian Metals is focused on the development of its Langis Project, a high-purity silica deposit located in the province of Quebec. The Company is rapidly positioning itself as a supplier of high purity silica and silicon alloy in North America. Silicon based materials can be formulated to provide a broad range of products from more durable, faster building materials with smarter electronic devices, solar panels and more efficient wind turbines. We expect to become a global supplier for a number of industries and applications but without limitation: glass, ceramics, lighting, oil and gas, paint, plastic and rubber. We also want to become an integrated supplier to metallurgical industries including foundries, and participate in a wide range of civil, industrial, environmental and related applications. These target markets are an integral part of the lives of millions of people every day.
Cautionary Statements Regarding Forward Looking Information
Certain statements included herein may constitute “forward-looking statements”. All statements included in this press release that address future events, conditions or results, including in connection with the pre-feasibility study, its financing, the hybrid flex project, job creation, the investments to complete the project and the potential performance, production and environmental footprint of the silicon plant, are forward-looking statements. These forward-looking statements can be identified by the use of words such as “may”, “must”, “plan”, “believe”, “expect”, “estimate”, “think”, “continue”, “should”, “will”, “could”, “intend”, “anticipate” or “future” or the negative forms thereof or similar variations. These forward-looking statements are based on certain assumptions and analyses made by management in light of their experiences and their perception of historical trends, current conditions and expected future developments, as well as other factors they believe are appropriate in the circumstances. These statements are subject to risks, uncertainties and assumptions, including those mentioned in the Corporation’s continuous disclosure documents, which can be found under its profile on SEDAR (www.sedar.com). Many of such risks and uncertainties are outside the control of the Corporation and could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In making such forward-looking statements, management has relied upon a number of material factors and assumptions, on the basis of currently available information, for which there is no insurance that such information will prove accurate. All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above. The Corporation is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
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President and CEO
Canadian Metals Inc.
Chief Investment Officer