Callinex Receives Permits for Winter Drilling Campaign
Vancouver, British Columbia – December 21, 2015 – Callinex Mines Inc. (the “Company” or “Callinex”) (TSX-V: CNX; OTCQX: CLLXF) is pleased to announce it has received permits for the upcoming winter drilling campaign at the Company’s 100% owned Pine Bay and Flin Flon projects, located near HudBay’s 777 mine and processing facilities in Flin Flon, Manitoba. It is anticipated that the winter drilling program will commence in mid-January and consist of approximately 6,000m to 7,500m.
A primary objective of the 2016 campaign is to follow up on the discovery made during the 2015 exploration campaign at the Sourdough Bay area of the Pine Bay Project. Additionally, a number of drill holes are planned with the objective to identify additional high-grade VMS mineralization rich in copper, zinc, gold and silver that have potential to be associated with a large deposit. The Company plans to test eight target areas at the Pine Bay Project as part of the previously announced 10,000m drilling campaign for 2016.
Additionally, the Company has granted a total of 1,600,000 stock options to officers, directors, consultants and employees of Callinex. The options were granted for a period of 5 years, expiring on December 18, 2020, and each stock option will allow the holder to purchase a common share of Callinex at an exercise price of $0.33.
About Callinex Mines Inc.
Callinex Mines Inc., a Canadian mineral exploration company, is focused on discovering the next copper-zinc rich VMS mine within Manitoba’s prolific Flin Flon mining district. The Company’s flagship project is the Pine Bay Project which host significant historic VMS deposits that are within close proximity to a processing facility. The Flin Flon district has yielded more than 145 million tonnes of production from 32 mines.
For additional information, please contact:
Callinex Mines Inc.
Max Porterfield, President and Chief Executive Officer
Phone: (604) 605-0885
Neither the 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.
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated work programs and the timing and amount of expenditures. Callinex does not assume the obligation to update any forward-looking statement.