Crude Oil ( ) Brent Crude ( ) Natural Gas ( ) S&P 500 ( ) PHLX Oil ( )
 December 1, 2015 - 6:41 PM EST
Print Email Article Font Down Font Up Charts

Select Sands Clarifies Public Record

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 1, 2015) - Select Sands Corp. (TSX VENTURE:SNS)(OTC PINK:CLICF) (the "Company") announced that as a result of a review of the Company's continuous disclosure documents by the British Columbia Securities Commission, the Company is issuing the following news release to clarify certain of its disclosure. 

The Company's news release announcing the results of an initial mineral resource estimate and preliminary economic assessment for the Sandtown Property on June 10, 2015 failed to provide all the relevant cautionary language required by section 3.4(e) and section 2.3(3) of National Instrument 43-101. In addition, the supporting technical report dated June 30, 2015, subsequent news releases on August 5, 2015, August 14, 2015, September 4, 2015, October 8, 2015, October 19, 2015, October 20, 2015, October 27, 2015 and November 12, 2015 and the Project section on the Company's website all failed to provide the relevant cautionary language when disclosing the results. The Company has corrected its website and will file an amended technical report that contains all the appropriate cautionary language.

Based on this review the Company has determined that the following language should have been included in such disclosure:

"The Company would like to remind investors that mineral resources for the Sandtown Property are not mineral reserves and do not have demonstrated economic viability and there is no certainty that this preliminary economic assessment will be realized."

About Select Sands Corp.

Select Sands' Sandtown property, located in northeast Arkansas, USA, is underlain by the Ordovician St. Peter sandstone formation, which is a major source of 'Ottawa White' Tier-1 frac sand/industrial sand selling into major US oil and gas basins as well as industrial and speciality end markets. The Sandtown property is located 3.1 miles from Highway 167 near a natural gas pipeline. The property has an active power line on the property and is located approximately 14.7 miles from the nearest rail system. Compared to competitive sand mines located in Wisconsin owned by the largest US frac sand producers, Sandtown has a competitive location advantage as it is approximately 650 rail miles closer to the Texas/Louisiana oil/gas plays as well as the Houston port and industrial hub.

Cam Bartsch, P.Geo.., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure in this News Release.

Neither 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.

Select Sands Corp.
Rasool Mohammad, B.Sc. (Mining)
President & CEO

Investor Relations
Arlen Hansen

Source: Marketwired (Canada) (December 1, 2015 - 6:41 PM EST)

News by QuoteMedia