Mar­lin re­tracts non-com­pli­ant Com­mon­wealth dis­clo­sure

Stockwatch Daily - - MINES & METALS - Mr. Ak­iba Leis­man re­ports

AS A re­sult of a re­view by the B.C. Se­cu­ri­ties Com­mis­sion (BCSC), Mar­lin Gold Min­ing Ltd. is is­su­ing the fol­low­ing press re­lease to clar­ify its dis­clo­sure. The his­tor­i­cal min­eral re­source es­ti­mates, eco­nomic analysis and pre­lim­i­nary eco­nomic as­sess­ment on the com­pany’s wholly owned Com­mon­wealth sil­ver-gold prop­erty in Cochise county, Ari­zona, re­ferred to in cer­tain of the com­pany’s prior press re­leases (in­clud­ing its March 30, 2015, press re­lease), its cor­po­rate pre­sen­ta­tion posted to its web­site, its web­site and cer­tain other dis­clo­sure doc­u­ments, are not sup­ported by a cur­rent tech­ni­cal re­port com­pli­ant with the re­quire­ments of Na­tional In­stru­ment 43-101 (Stan­dards of Dis­clo­sure for Min­eral Projects) and are re­tracted and should not be re­lied upon un­til they have been ver­i­fied and are sup­ported by a cur­rent tech­ni­cal re­port com­pli­ant with NI 43-101. NI 43-101 pro­hibits the dis­clo­sure of an eco­nomic analysis that is based on a his­tor­i­cal es­ti­mate. The com­pany’s cor­po­rate pre­sen­ta­tion also in­cluded his­tor­i­cal drill re­sults on the San Cris­to­bal gold tar­get with­out dis­clos­ing all of the in­for­ma­tion re­quired un­der Sec­tion 3.3 of NI 43-101. The his­tor­i­cal drill re­sults on the San Cris­to­bal gold tar­get have been re­moved from slide 16 of the cor­po­rate pre­sen­ta­tion.

The com­pany is in the process of hav­ing a cur­rent tech­ni­cal re­port pre­pared for the Com­mon­wealth project within the next two months, which will con­tain an up­dated re­source es­ti­mate on the Com­mon­wealth project. This up­dated re­source es­ti­mate will use the same ge­o­log­i­cal model and the same met­al­lur­gi­cal pa­ram­e­ters as the his­tor­i­cal re­source es­ti­mate. The tech­ni­cal re­port will not con­tain an eco­nomic analysis or con­sti­tute a pre­lim­i­nary eco­nomic as­sess­ment un­der NI 43-101. The com­pany will pro­vide an up­date to this news re­lease and file such tech­ni­cal re­port on the Com­mon­wealth project un­der its pro­file on SEDAR.

Since the ac­qui­si­tion of the Com­mon­wealth project in 2015, Mar­lin’s ac­tiv­i­ties with re­spect to the Com­mon­wealth project have been fo­cused on: (i) con­sol­i­dat­ing the land own­er­ship at the Com­mon­wealth project; (ii) im­prov­ing the un­der­ly­ing ge­o­log­i­cal model that is the ba­sis of the his­tor­i­cal re­source es­ti­mate; and (iii) un­der­go­ing a com­pre­hen­sive met­al­lur­gi­cal pro­gram that would serve as the ba sis for an up dated NI 43-101 tech­ni­cal re­port. All of this work is ex­pected to be com­plete by early 2018. When Mar­lin’s up­dated ge­o­log­i­cal model and met­al­lur­gi­cal pro­gram are com­plete, it ex­pects that there will be an ad­di­tional re­vi­sion to this re­source es­ti­mate, which may in­clude an up­dated pre­lim­i­nary eco­nomic as­sess­ment, but this will not be com­plete un­til 2018.

Ad­di­tion­ally, the com­pany wishes to clar­ify that it has not made a pro­duc­tion de­ci­sion with re­spect to the Com­mon­wealth project. The com­pany has not com­pleted a fea­si­bil­ity study or es­tab­lished the eco­nomic vi­a­bil­ity of the Com­mon­wealth project or pro­posed op­er­a­tions on the Com­mon­wealth project, and no min­eral re­serves have been es­tab­lished for the Com­mon­wealth project that would sup­port a pro­duc­tion de­ci­sion. Projects that are put into pro­duc­tion with­out first es­tab­lish­ing min­eral re­serves and com­plet­ing a fea­si­bil­ity study have his­tor­i­cally had a higher risk of eco­nomic or tech­ni­cal fail­ure.

The com­pany re­tracts all non-com­pli­ant dis­clo­sures ref­er­enced above, and it has amended its web­site and cor­po­rate pre­sen­ta­tion to re­move such dis­clo­sures.

About Mar­lin Gold Min­ing Ltd.

Mar­lin, a growth-ori­ented gold and sil­ver min­ing com­pany fo­cused on the Amer­i­cas, owns three prop­er­ties in Mex­ico and the United States and a portfolio of roy­al­ties. Mar­lin’s pri­or­ity is to prof­itably op­er­ate its La Trinidad mine, con­duct fur­ther ex­plo­ration on its other projects and en­hance share­holder value through the growth of its wholly owned sub­sidiary, Sail­fish Roy­alty Corp. Mar­lin is backed by a well-fi­nanced in­vestor with a suc­cess­ful record in the re­source sec­tor. The La Trinidad mine in Si­naloa, Mex­ico, de­clared com­mer­cial pro­duc­tion on Nov. 1, 2014, and is one of the high­est-grade open-pit heap-leach gold mines in Mex­ico.

We seek Safe Har­bor.

Ak­iba Leis­man, Mike Lid­dell, Jesse Munoz, John Pon­tius

(MLN) Shares: 171,813,719

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