CMKM-Press Release Source: Casavant Mining Kimberlite International Inc.
Casavant Mining Kimberlite International Announcement
Friday February 7, 12:48 am ET
LAS VEGAS--(BUSINESS WIRE)--Feb. 6, 2003--Casavant Mining Kimberlite International Inc. (OTCBB:CMKM - News) announced today that its time shared lease agreement of an ancient Chinese jade collection was appraised by experts and a random sampling of the overall collection was authenticated by Elizabeth Childs-Johnson.
This clarification is being made after Internet-based chat rooms erroneously reported that the jade collection was neither appraised nor authenticated by experts. The references to the jade collection in the Company's most recent Schedule 14C filing with the Securities and Exchange Commission will be amended to reflect the expert's appraisals. Further, the Company believes that the jade collection provided it with an asset base before the end of its 2002 calendar year-end.
The drilling program for kimberlite deposits in the Fort a la Corne area of Saskatchewan, Canada, is scheduled to commence March 2003 after further aerial testing has been completed. This aerial testing will seek to detect non-magnetic kimberlites that may have been overlooked using older technology available in 1994-1995. The newest technology available is now able to detect kimberlites covered by the 100-meter-plus overburden that predominates the claims. The Company believes that its current stock price reflects aggressive shorting of its stock. The Company will be able to fund its drilling program from its current shareholder base.
At this time, the Company does not intend to centerpiece or travel with the jade collection because it would not be economically feasible to do so in non-museum settings due to security and insurance issues.
The Company's website www.cmkmdiamonds.com is still under construction but the work to date has been launched. Both the Schedule 14C and the report of P. Robertshaw concerning the Fort a la Corne properties are archived for review by shareholders and interested parties.
Forward-Looking Statements
This Press Release contains "forward-looking" statements as that term is defined by Section 27A of the Securities Act of 1933, as ammended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as ammended (the "Exchange Act"). All statements that are included in this Press Release other than statements of historical fact are "forward-looking" statements. Although Management believes that the expectations reflecting in these forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors could cause actual results to differ materially from the expectations as disclosed herein, including without limitation, in conjunction with these forward-looking statements contained in this Press Release.
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Contact:
Princeton Research, Inc.
Mike King, 702/650-3000 (Investor Relations)
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Source: Casavant Mining Kimberlite International Inc.
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