[ACCESSWIRE]
TORONTO, ON / ACCESSWIRE / January 11, 2017 / Millstream Mines Ltd. (the "Company" or "MLM") (TSX-V: MLM & FSE: NJD1) confirms that, effective January 5, 2017, TSX Venture Exchange Inc. ("TSXV") suspended trading in the Company's securities as a result of a Cease Trade Order ("CTO") issued for failure to maintain exchange requirements.
This suspension of trading by the TSXV is a direct result of the Corporation's delayed filing of its Year End 2016 financial information due to finalization of audit matters with the auditors of the Corporation.
Reinstatement to trading can only occur when the CTO is revoked and the TSXV has concluded its reinstatement review to ensure that the Corporation has satisfactorily complied with TSXV requirements.
The Corporation anticipates that reinstatement will occur once the Corporation has filed its 2016 financial information, which are anticipated to be completed shortly, but in any event, by mid-January 2017.
About Millstream Mines Ltd.:
Millstream Mines Ltd. is a Canadian-based mineral exploration company whose principle objective is to enhance and develop known mineral properties to production potential. The Company has projects in the Province of Ontario, Canada and in the State of Montana, USA. The past producing Potter Mine Property is host to a presently known quantity of eleven (11) copper-zinc-cobalt-gold-silver "stacked" mineralized zones located in the highly prolific Abitibi Greenstone Belt and more specifically in the Kidd-Munro Assemblage near the town of Matheson in north eastern Ontario. An initial resource estimate on the Potter, utilizing only seven (7) of the eleven total known mineralized zones, revealed an indicated resource of 3,028,767 tonnes at 1.45% copper, 1.19% zinc, 389.7 ppm cobalt, 11.1 ppm silver, and 127.5 ppb gold along with an inferred resource of 2,071,101 tonnes at 1.08 % copper, 1.05 % zinc, 301.4 ppm cobalt, 8.7 ppm silver, and 81.7 ppb gold. The Potter Resource was prepared in compliance with NI 43-101 guidelines by Mr. David Gamble, P.Geo, Qualified Person for the Property. The Tamarack Gold Property is a former past producing, high-grade gold operator found in the Tobacco Root Mountains of Madison County, Montana. The Property is presently permitted to operate as a gold mine under the Small Mines Exclusion Act of Montana. It is accessible year round, 4 miles from the town of Sheridan, on a well maintained gravel road.
For a more thorough synopsis on the Company please visit the following link: http://www.millstreammines.com/Millstream_brochure.pdf
Neither the 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.
Millstream seeks safe harbour with regard to forward looking statements.
Reader Advisory: Forward-looking Statements
This news release contains forward-looking information relating to the anticipated filing date of the 2014 financial information and other statements that are not historical facts. Such forward-looking information is subject to important risks, uncertainties and assumptions. The results or events predicated in this forward-looking information may differ materially from actual results or events. As a result, you are cautioned not to place undue reliance on this forward-looking information. Forward-looking information is based on certain factors and assumptions. While the Corporation considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward looking-information is subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what is currently expected. These factors include risks associated with preparation of the 2014 financial information, risks associated with instability of the economic environments in which the Company operates or owns interests, loss of markets, volatility of commodity prices, currency fluctuations, environmental risks, competition, failure to realize the anticipated benefits of acquisitions, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, reliance on key personnel, regulatory risks and delays, including risks relating to the acquisition of necessary licenses and permits, environmental risks and insurance risks.
You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Corporation may elect to, the Corporation is under no obligation and does not undertake to update this information at any particular time, except as required by law.
For further information contact:
Mr. Ernest Harrison, EM, Chairman and CEO
Phone: 705-474-7282
Mr. Robert Chase, CFA, President and CFO
Phone:416-368-9595
Email: [email protected] Web: www.millstreammines.com
SOURCE: Millstream Mines Ltd.
