News Release

Vancouver – The B.C. Securities Commission is warning mining and exploration companies to make sure that their corporate and technical disclosure is complete and accurately reflects their activities.

“Trading and financing activity has picked up in British Columbia’s junior mining sector,” says Angela Huxham, BCSC director of Corporate Finance. “Many of the companies in this sector need financing and one of our key functions at the commission is to help foster a fair and competitive capital-raising environment for them.”

There are more than 1,030 mining companies listed on the TSX and TSX Venture Exchanges. This is more than half of the listed-mining companies worldwide. Sixty-five per cent of these companies are based in B.C. and the BCSC is responsible for regulating their financing and disclosure activities.

Huxham says investors rely on the continuous disclosure that mining companies provide to the public.

She warns that mining companies should pay close attention to their disclosure requirements and address shortcomings as quickly as possible or risk having the commission cease-trade their securities or take other regulatory actions.

Huxham notes that better disclosure by mining companies means an increase in investor confidence and liquidity in the markets. This also helps expand the capital available for exploration and development activities.

“We find that the majority of the good mining companies look to us to crackdown on the few bad apples that hurt their ability to raise money,” she says.

To help mining companies provide better continuous disclosure and reports that more accurately reflect their exploration and development activities, the BCSC’s Chief Mining Advisor, Greg Gosson, has arranged two half-day workshops in November in Vancouver to give mining industry professionals guidance on the rules for technical reports and disclosure on mineral projects.

“Often times, we find that a company’s technical reports are complete and accurate but it is how they use this information for their marketing and public relations activities that leads them offside of the disclosure rules,” says Gosson.

Gosson is encouraging mining industry insiders and professionals to attend the two free workshops and contact the commission about questions that they may have about their disclosure requirements.

The workshops will be held at UBC Robson Square, theatre room, from 9 a.m. to 12 p.m. on Thurs, Nov. 13 and Tues, Nov. 18. To ensure admission, contact Maria Castillo by Mon, Nov. 10 at 604-899-6708 or e-mail: mcastillo@bcsc.bc.ca. More than 100 mining industry players are expected to attend.

“We are working at the BCSC to support the mining industry by making sure that companies are not hampered by unnecessary securities regulations but that investors receive accurate and timely disclosure that they can rely on in making their investment decisions,” says Gosson.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities and exchange contracts within the province.