MONTREAL, QUEBEC, Feb 12, 2015 (Marketwired via COMTEX) —
Stornoway Diamond Corporation (SWY) (the “Corporation” or
“Stornoway) announces that management will be attending and
presenting at the following upcoming investor conferences:
-- BMO Capital Markets 24th Annual Global Metals and Mining Conference,
held at the Diplomat Hollywood Beach, Hollywood, Florida from February
22nd to 25th, 2015. Matt Manson, President and CEO, will be
participating in the Diamond Panel Discussion from 12:00pm to 2:00pm EST
on February 24;
-- Red Cloud 4th Annual Pre-PDAC Investor Showcase, held at the Fairmont
Royal York, Toronto, Ontario on February 27th, 2015 from 10:00am to
3:30pm. Matt Manson will be presenting at the event.
-- Prospectors and Developers Association of Canada, held at the Metro
Toronto Convention Centre, Toronto, Ontario from March 1st to 4th, 2015:
-- Ghislain Poirier, Vice President of Public Affairs, will be
participating in the "Quebec and Plan Nord: Five Years Later"
technical session on March 2nd, 2015 at 10:25am EST in Room 715;
-- Matt Manson will be participating in the "Diamonds Are Forever:
Canada's Turn" technical session on March 2nd, 2015 at 2:25pm EST in
Room 716; and
-- Matt Manson will also be speaking at the Diamond Investor Session on
March 3rd, 2015 at 10:40am EST in room 801B.
About Stornoway Diamond Corporation
Stornoway is a leading Canadian diamond exploration and development
company listed on the Toronto Stock Exchange under the symbol SWY and
headquartered in Montreal. Our flagship asset is the 100% owned
Renard Diamond Project, on track to becoming Quebec’s first diamond
mine. Stornoway is a growth oriented company with a world class
asset, in one of the world’s best mining jurisdictions, in one of the
world’s great mining businesses.
On behalf of the Board
STORNOWAY DIAMOND CORPORATION
/s/ “Matt Manson”
Matt Manson, President and Chief Executive
This press release contains “forward-looking information” within the
meaning of Canadian securities legislation. This information and
these statements, referred to herein as “forward-looking statements”,
are made as of the date of this press release and the Corporation
does not intend, and does not assume any obligation, to update these
forward-looking statements, except as required by law.
Forward-looking statements relate to future events or future
performance and reflect current expectations or beliefs regarding
future events and include, but are not limited to, statements with
respect to: (i) the amount of mineral resources and exploration
targets; (ii) the amount of future production over any period; (iii)
net present value and internal rates of return of the mining
operation; (iv) assumptions relating to recovered grade, average ore
recovery, internal dilution, mining dilution and other mining
parameters set out in the Feasibility Study or the Optimization
Study; (v) assumptions relating to gross revenues, operating cash
flow and other revenue metrics set out in the Feasibility Study or
the Optimization Study; (vi) mine expansion potential and expected
mine life; (vii) expected time frames for completion of permitting
and regulatory approvals and making a production decision; (viii)
future exploration plans; (ix) future market prices for rough
diamonds; (xii) the economic benefits of using liquefied natural gas
rather than diesel for power generation; (xiii) sources of and
anticipated financing requirements; (xiv) the completion,
effectiveness or availability, as the case may require, of the other
elements of the Financing Transactions and the use of proceeds
therefrom; and (xv) the impact of the Financing Transactions on the
Corporation’s operations, infrastructure, opportunities, financial
condition, access to capital and overall strategy.. Any statements
that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions or
future events or performance (often, but not always, using words or
phrases such as “expects”, “anticipates”, “plans”, “projects”,
“estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”,
“schedule” or variations thereof or stating that certain actions,
events or results “may”, “could”, “would”, “might” or “will” be
taken, occur or be achieved, or the negative of any of these terms
and similar expressions) are not statements of historical fact and
may be forward-looking statements.
Forward-looking statements are made based upon certain assumptions by
Stornoway or its consultants and other important factors that, if
untrue, could cause the actual results, performances or achievements
of Stornoway to be materially different from future results,
performances or achievements expressed or implied by such statements.
Such statements and information are based on numerous assumptions
regarding present and future business prospects and strategies and
the environment in which Stornoway will operate in the future,
including the price of diamonds, anticipated costs and Stornoway’s
ability to achieve its goals, anticipated financial performance,
regulatory developments, development plans, exploration, development
and mining activities and commitments. Although management considers
its assumptions on such matters to be reasonable based on information
currently available to it, they may prove to be incorrect. Certain
important assumptions by Stornoway in making forward-looking
statements include, but are not limited to: (i) required capital
investment and estimated workforce requirements; (ii) estimates of
net present value and internal rates of return; (iii) receipt of
regulatory approvals on acceptable terms within commonly experienced
time frames; (iv) the assumption that a production decision will be
made, and that decision will be positive; (v) anticipated timelines
for the commencement of mine production; (vi) market prices for rough
diamonds and the potential impact on the Renard Diamond Project;
(vii) Stornoway’s ability to consummate the Financing Transactions to
enable it finance the development and construction of the Renard
Diamond Project; (viii) Stornoway’s interpretation of the geological
drill data collected and its potential impact on stated Mineral
Resources and mine life, and (ix) future exploration plans and
objectives. Additional risks are described in Stornoway’s most
recently filed Annual Information Form, annual and interim MDA, and
other disclosure documents available under the Corporation’s profile
at: www.sedar.com.
By their very nature, forward-looking statements involve inherent
risks and uncertainties, both general and specific, and risks exist
that estimates, forecasts, projections and other forward-looking
statements will not be achieved or that assumptions do not reflect
future experience. We caution readers not to place undue reliance on
these forward-looking statements as a number of important risk
factors could cause the actual outcomes to differ materially from the
beliefs, plans, objectives, expectations, anticipations, estimates,
assumptions and intentions expressed in such forward-looking
statements. These risk factors may be generally stated as the risk
that the assumptions and estimates expressed above do not occur,
including the assumption in many forward-looking statements that
other forward-looking statements will be correct, but specifically
include, without limitation, (i) risks relating to variations in the
grade, kimberlite lithologies and country rock content within the
material identified as mineral resources from that predicted; (ii)
variations in rates of recovery and breakage; (iii) the uncertainty
as to whether further exploration of exploration targets will result
in the targets being delineated as mineral resources; (iv)
developments in world diamond markets; (v) slower increases in
diamond valuations than assumed; (vi) risks relating to fluctuations
in the Canadian dollar and other currencies relative to the US
dollar; (vii) increases in the costs of proposed capital and
operating expenditures; (viii) increases in financing costs or
adverse changes to the terms of available financing if any; (ix) tax
rates or royalties being greater than assumed; (x) uncertainty of
results of exploration in areas of potential expansion of resources;
(xi) changes in development or mining plans due to changes in other
factors or exploration results; (xii) changes in project parameters
as plans continue to be refined; (xiii) risks relating to the receipt
of regulatory approvals or the implementation of the existing Impact
and Benefits Agreement with aboriginal communities; (xiv) the effects
of competition in the markets in which Stornoway operates;
(xv) operational and infrastructure risks; (xvi) timeframe and
potential benefits relating to the issuance of an updated Mineral
Resource Estimate in 2015 ; (xvii) failure to receive regulatory
approvals (including stock exchange), or other approvals or otherwise
satisfy the conditions to the completion, effectiveness or
availability, as the case may require, of each of the elements of the
Financing Transactions; (xviii) the funds of some of the elements of
the Agreement not being available to the Corporation; (xix) future
sales or issuances of Common Shares lowering the Common Share price
and diluting the interest of existing shareholders; (xx) Stornoway
being unable to meet its diamond delivery obligations under the
Streaming Agreement, and (xxi) the additional risks described in
Stornoway’s most recently filed Annual Information Form, annual and
interim MDA and Stornoway’s anticipation of and success in managing
the foregoing risks. Stornoway cautions that the foregoing list of
factors that may affect future results is not exhaustive, and new,
unforeseeable risks may arise from time to time.
Contacts: Matt Manson President and CEO 416-304-1026 x101 Orin Baranowsky Director, Investor Relations 416-304-1026 x103 Toll free: 1-877-331-2232 info@stornowaydiamonds.com www.stornowaydiamonds.com M. Ghislain Poirier Vice-president Affaires publiques 418-254-6550 gpoirier@stornowaydiamonds.com
SOURCE: Stornoway Diamond Corporation
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