| ||November 14, 2007|
MBMI Files NI 43-101 Technical Report-Alpha Project, Trading to Resume
| ||Vancouver, B.C., November 14, 2007. MBMI RESOURCES INC. (MBR: TSX-V) ("MBMI") (the "Company") reports that it has filed an updated NI 43-101 compliant independent Technical Report covering the Alpha nickel project located in Narra, Philippines. The Report can be viewed either on the Company's website, www.mbmiresources.com, or www.sedar.com . |
The author of the report has visited the project site and indicates that due to extensive drilling from late 2005 to present, a large amount of data has been generated that could allow the calculation of a mineral resource in accordance with CIM classifications pursuant to NI-43-101. However, in order to successfully complete this exercise, the report recommends undertaking the following: (i) completion of sufficient quality assurance/quality control (QA/QC) on the existing sample assay dataset, (ii) generation of measured specific gravity (SG) values for the various mineralized materials and (iii) upgrading the drill hole database to better position location controls. The Company and its Philippine subsidiaries have commenced the implementation of these recommendations.
Subsequent to the filing of the Technical Report, The British Columbia Securities Commission (BCSC) has revoked the Cease Trade Order, and the Company has been advised by the TSX Venture Exchange that trading will recommence on Thursday November 15, 2007.
ON BEHALF OF THE BOARD OF DIRECTORS
"Michael T. Mason"
President and Director
For further information:
David G. Tafel -- VP Corporate Development, Director
Fax: (604) 683-8544
Toll free: 1-877-399-1991
The TSX Venture Exchange has not reviewed and does not take responsibility for the accuracy of this release.
This news release may contain forward-looking information including but not limited to comments regarding the timing and content of upcoming financings, work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking information includes disclosure regarding possible future events, or conditions or results of operations that is based on assumptions about future economic conditions and courses of action, and therefore, involves inherent risks and uncertainties. Although management has a reasonable basis for the conclusions drawn, actual results may differ materially from those currently anticipated in such statements
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