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Callinex Mines Inc. (CLLXF)

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About Callinex Mines Inc. 
Callinex Mines Inc. owns a portfolio of Canadian exploration assets in various stages of development. The portfolio consists of gold, silver, copper, molybdenum, lead, zinc, nickel, and graphite projects located in the provinces of Manitoba and British Columbia.
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.
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated work programs and the timing and amount of expenditures. Callinex does not assume the obligation to update any forward-looking statement.
SOURCE Callinex Mines Inc.
/Web site: www.callinex.ca


All information current as of 5/27/2016 unless otherwise stated.

About The Pine Bay Project

The Pine Bay Project is located 16km east of Flin Flon, MB, and covers approximately 6,000ha. The project includes a mineral lease that allows for the right to operate a mine and covers a 212m vertical shaft with 760m of underground development accessing high-grade copper mineralization. Significantly, a favorable geological trend with coincident geophysical anomalies extends for at least 8 km in a northeast-southwest direction and hosts HudBay’s Centennial Mine along with Callinex’s Sourdough and Pine Bay deposits. Previous operators reported historic resources totaling 1.62 million tons at a grade of 2.81% Cu Eq.(2). Callinex has not done sufficient work to classify the historical estimate as a current mineral resource, and is not treating the historical estimate as a current mineral resource.

The project area was recently consolidated with individual claim blocks previously owned or operated by Placer Dome, Newmont, HudBay and Cameco. In the 1990’s, the northern section of the property was primarily explored by Placer Dome, who conceptualized potential for a large VMS deposit at depth near the Pine Bay, Cabin and Baker Patton deposits. The Baker Patton deposit, which may represent a feeder zone, is located within a large and intensely altered zone up to 1,500m long and up to 740m wide. This alteration zone overlies a 540m x 360m stringer zone, a large gravity anomaly and both electromagnetic (EM) and magnetic anomalies.

It is believed the alteration zone is part of a more extensive system that has been displaced by faulting. Drilling by a previous operator identified at depth a 210m wide alteration zone that includes 50m of chloritic alteration which has not been followed up on. Nearly all VMS deposits in the Flin Flon Greenstone Belt are immediately related to a chloritic alteration zone and the extent of which typically has a correlation to the deposit size.

Pine Bay Historic Resources(2)
Deposit Tons Cu Eq%(2) Cu % Zn % Au g/t Ag g/t
Pine Bay 1,113,200 2.76 2.76 N/A N/A N/A
Sourdough 291,150 2.98 1.46 1.71 1.03 29.8
Cabin 125,000 2.18 0.84 4.02 N/A N/A
Baker Patton 95,000 3.66 0.80 5.28 0.83 56.0
Total 1,624,350 2.81 2.26 0.92 0.24 8.9


(1)   Values have been converted from the imperial to metric system

(2)   Historical resource estimates include (a) a Cerro-Mining-Guggenheim Joint Venture report titled “Feasibility Study for 550 ton per day mine & mill”, prepared by Wright Engineers Limited in 1971, reported a “geological ore reserve” 1,113,200 tons at 2.76% Cu at the Pine Bay deposit, (b) a Keys report in 1963 reported a historical resource estimate of 291,150 tons at 1.46% Cu at the Sourdough deposit, (c) a Pine Bay Mines report in 1976 reported a historical resource estimate of 125,000 tons at 0.84% Cu at the Cabin deposit and (d) a Macmillan report in 1968 reported a historical resource estimate of 95,000 tons at 0.80% Cu at the Baker Patton deposit. The historical “geological ore reserve” and resource estimates cited above is mentioned for historical purposes only and uses terminology not compliant with current reporting standards.  The reliability of these historical estimates is unknown but considered relevant by the Company as it represents a significant target for future exploration work by the Company. The assumptions, parameters and methods used to calculate this historical resource estimate are not known to the Company. The qualified person has not made any attempt to re-classify the estimates accordingly to current NI 43-101 standards of disclosure or the CIM definitions. In order for these resources to be current, the Company will be required to conduct additional drilling on the Pine Bay Property. The Company is not treating this estimate as current mineral resources or mineral reserves as defined in NI 43-101.  Although the Historical resource estimate was also designated as “ore” it cannot be compared to mineral reserves as it is not supported by at least a current pre-feasibility study.

(3)   Copper equivalent grades are based on metal prices of: copper US$3.00/lb, zinc $1.00/lb, gold US$1200 per oz, silver US$20 per oz. Metal recoveries of 100% are applied in the copper equivalent calculation. The copper equivalent calculation is as follows; Cu Eq = Cu grade + ((Zn grade%/100*2000 x Zn price) + (Au grade/32.15 x Ag price) + (Ag grade/32.15 x Ag price)/Cu price/20).

The technical content of this news release has been reviewed and approved by Christina Taylor, P.Geo, the Company’s Project Geologist, and a Qualified Person as defined by National Instrument 43-101.

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#67   CLLXF up roughly 150% this week. Definitely some flemsnopes 07/23/20 09:46:13 AM
#66   It looks like this might have some potential flemsnopes 06/16/20 10:42:14 AM
#65   Wishing I would have dumped some or all Retire43 01/30/20 08:50:21 AM
#64   CLLXF one for 10 reverse split: Renee 07/03/19 05:03:18 PM
#63   New news: Callinex is drilling! Retire43 07/12/18 02:32:51 PM
#62   308 page detailed report ! Retire43 07/08/18 06:23:56 PM
#61   PEA just released! Stock is way under valued! Retire43 05/14/18 04:00:47 PM
#60   Boring, boring, boring Uk1chad 12/12/17 01:47:50 PM
#59   TRUDY-buck --bad for business--unless yu live in QUE ernie44 12/10/17 10:44:16 PM
#58   up 8 percent---talk about dogs BARKING ernie44 11/24/17 11:27:05 AM
#57   how many investors have received i-hubs promotions------BROKEN DOWN---by sex ernie44 11/13/17 12:10:35 PM
#56   Fully agree. Have been in this since the imperativity 09/10/17 08:30:47 PM
#55   I have owned this stock for many years Retire43 09/06/17 11:04:19 AM
#54   I got in on this today. Anyone active MemoryLeaks 09/05/17 09:05:42 PM
#53   Someone is accumulating here. Will be grabbing more imperativity 08/08/17 11:36:49 PM
#52   I called the last run on Callinex, I Luca Brasi 07/13/17 08:04:13 PM
#51   We are going to be heading up quick Luca Brasi 07/13/17 08:02:03 PM
#50   News out: core results. Retire43 05/01/17 06:11:24 PM
#49   Didn't Sprott just pay .50/share CAD for 8 Uk1chad 03/26/17 12:09:26 AM
#48   Yes. I think so as well. Addition of Retire43 03/24/17 12:03:54 PM
#47   It certainly feels like a big move is imminent. imperativity 03/23/17 09:56:28 PM
#46   Added to my position. Retire43 01/20/17 03:04:16 PM
#45   Chart gap filled? Time to buy? Uk1chad 01/19/17 10:13:35 AM
#44   IMO the chart gap needs to fill. Luca Brasi 01/17/17 09:37:30 PM
#43   It's been falling since December 1st. Presidents letter Retire43 01/17/17 05:12:20 PM
#42   Why the drop today? Uk1chad 01/17/17 12:26:01 PM
#41   Yes I think so too. We Retire43 01/04/17 11:48:18 PM
#40   Picking up more here. Got this as a imperativity 01/04/17 06:11:17 PM
#39   I think we will see a pop soon Luca Brasi 11/07/16 10:39:32 PM
#38   Ascending Triangle Pattern forming on CLLXF! Luca Brasi 11/04/16 12:06:55 AM
#37   www.callinex.ca/callinex-announces-5m-private-placement-affiliates-sprot Luca Brasi 11/03/16 11:57:07 PM
#36   NEWS!! 11/01/2016 Luca Brasi 11/01/16 01:55:00 PM
#35   NEWS 10/26/2016!! Luca Brasi 10/31/16 10:09:30 AM
#34   NEWS!! 10/25/2016 Luca Brasi 10/31/16 10:06:28 AM
#33   Great close to the week here! Next Luca Brasi 10/28/16 07:33:53 PM
#32   There should be a revaluation of this stock Y-zer 10/19/16 10:35:37 AM
#31   This is great news! Retire43 10/19/16 08:50:32 AM
#30   NEWS CLLXF Luca Brasi 10/18/16 10:15:08 AM
#29   http://investorshub.advfn.com/$-The-Low-Floaters-Club-$-15421/ Luca Brasi 10/14/16 02:01:31 PM
#28   The Low Floaters Club calls CLLXF entry @ Luca Brasi 10/14/16 02:00:35 PM
#27   Price moving lower on good news? Retire43 09/12/16 11:07:03 AM
#26   CLLXF bullish 0.3055 stocktrademan 09/11/16 07:54:06 PM
#25   This is more like it! Sweet move Uk1chad 08/16/16 10:03:44 AM
#24   I have owned this long before the spinoff Retire43 08/15/16 10:50:16 AM
#23   Who is on for this ride. I missed it Y-zer 08/15/16 10:03:05 AM
#22   CLLXF Callinex Mines Inc. OTCRIDER 08/08/16 10:06:54 PM
#21   Anyone have any insight as to why this Uk1chad 07/06/16 04:24:38 PM
#20   Seriously! This stock just hasn't responded to the Uk1chad 07/06/16 09:46:21 AM
#19   Let's get this party started!!! glennpendragone 05/11/16 10:47:21 AM
#18   1st time posting here. This stk has come Retire43 04/26/16 01:44:47 PM
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