Coronation Minerals Inc./Northern Platinum Ltd.: News Release.TORONTO -- Coronation coronation, ceremony of crowning and anointing a sovereign on his or her accession to the throne. Although a public ceremony inaugurating a new king or chief had long existed, a new religious service was added when Europe became Christianized. Minerals Inc. ("Coronation")(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:MSA (Metropolitan Service Area) An urban area with at least 50,000 people plus surrounding counties. There are 306 MSAs and 428 RSAs (rural service areas) in the U.S. MSAs and RSAs are used to allocate cellular licenses. ), Northern Platinum Ltd. ("Northern")(TSX VENTURE:NTH nth adj. 1. Relating to an unspecified ordinal number: ten to the nth power. 2. Highest; utmost: delighted to the nth degree. ): Clarification Of Historical Resource Estimate Further to the Company's news release dated July 22, 2005 the Company provides the additional information about the historical resource estimate. An historical resource study by Watts Griffis and McQuat Limited for Allnorth Resources dated 1989 shows a near surface "reserve category" of probable 46.7 million tons of 0.35% copper, 0.36% nickel, 0.015 ounces per ton platinum and 0.010 ounces per ton palladium palladium, chemical element palladium [Gr. Pallas, goddess of wisdom], metallic chemical element; symbol Pd; at. no. 46; at. wt. 106.42; m.p. 1,554°C;; b.p. 2,970°C;; sp. gr. 12.02 at 20°C;; valence +2, +3, or +4. with an additional "possible category" of 8.5 million tons of 0.36% copper, 0.35% nickel, 0.015 ounces per ton platinum and 0.009 ounces per ton palladium, with additional values of cobalt Cobalt, town, Canada Cobalt (kō`bôlt), town (1991 pop. 1,470), E Ont., Canada, NE of Sudbury, near Lake Timiskaming. Once a center for cobalt and silver mining, the area is now economically depressed. , gold and silver. - This is an historical estimate. - This is a near surface deposit. - This estimate was complied by Watts, Griffis and McQuat Limited and is considered reliable. - Since the Q.P. does not have any of the basic data (i.e. assay certificates) used in the study, he is unable to explain the differences between the historical data and the current NI 43-101 standards. - No further work has been done on the Wellgreen deposit since the historical resource estimate was prepared. - The Company has not done the work necessary to verify the classification of the resource and is not treating them as an NI 43-101 resource verified by a QP. This historical estimate should not be relied upon. John McGoran is a Q.P. who has reviewed this news release. Coronation's initial exploration focus will be on the "North Zone" where Cu-Ni-PGM massive sulphides have been encountered. Coronation will also focus on bringing the historical Wellgreen deposit up to National Instrument 43-101 standards. A drill program will commence presently to bring the deposit up to the 43-101 standards. THE TSX VENTURE EXCHANGE TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE. Coronation Minerals Inc. (TSX VENTURE:MSA) Northern Platinum Ltd. (TSX VENTURE:NTH) |
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