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Kivalliq Files NI 43-101 Technical Report on the Lac Cinquante Deposit, Nunavut

by NationTalk on March 2, 2012153 Views

March 1, 2012

Vancouver, B.C. – Kivalliq Energy Corporation (KIV: TSXV) today announced the completion and filing of a revised National Instrument 43-101 independent technical report updating the Company’s Lac Cinquante Uranium Deposit at the Angilak Property, Nunavut, Canada.

The independent Technical Report was prepared by Apex Geoscience Ltd. with the updated Mineral Resource estimate for the Lac Cinquante Deposit contained therein prepared under the direction of SIM Geological Inc., following the guidelines of the Canadian Securities Administrators National Instrument 43-101 and Form 43-101F1.The report titled “Technical Report and Resource Update for the Angilak Property, Kivalliq Region, Nunavut” will be filed on SEDAR and can be viewed on the SEDAR website, www.sedar.com, the Kivalliq website, http://kivalliqenergy.com/projects/angilak/ .

The information in this release related to the independent Technical Report and the Mineral Resource estimate has been approved by Michael Dufresne, P.Geol,, of Apex Geoscience Ltd, Robert Sim, P.Geo. of SIM Geological Inc. and Bruce Davis, FAusIMM of BD Resources Consulting Inc., who are independent Qualified Persons as defined under National Instrument 43‐101. Jeff Ward, P.Geo, President of Kivalliq and a Qualified Person for the Company, has reviewed and approved the information contained in the Technical Report.

About Kivalliq Energy Corporation

Kivalliq Energy Corporation is a uranium exploration and development company and the first company in Canada to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut.

Kivalliq’s 252,830 acre Angilak Property hosts the high-grade Lac Cinquante deposit, along with multiple highly-mineralized target areas. With an NI 43-101 Inferred Mineral Resource of 1,779,000 tonnes grading 0.69% U3O8, totalling 27.13 million pounds U3O8, (15.2 pounds U3O8/tonne) at a 0.2% U3O8 cut-off grade, the Lac Cinquante Deposit is Canada’s highest grade uranium deposit outside of the Athabasca Basin.

Since acquiring the Angilak Property in 2008, Kivalliq has invested approximately $30 million conducting systematic exploration, including ground and airborne geophysics, geological mapping, prospecting and approximately 48,000 metres of RC and diamond drilling.

On behalf of the Board of Directors

“Jim Paterson”

James R. Paterson, CEO

Kivalliq Energy Corporation

For further information about, Kivalliq Energy Corporation or this news release, please visit our website at www.kivalliqenergy.com (m.kivalliqenergy.com) or contact Investor Relations toll free at 1.888.331.2269, at
604.646.4527, or by email at info@kivalliqenergy.com .

Kivalliq Energy Corporation is a member of the Aurora Resource Group of companies, for more information please visit www.auroraresource.com.

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