May 11, 2011 08:37 ET
MDN Seeking a Strategic Partner for the Crevier Project
MONTREAL, QUEBEC–(Marketwire – May 11, 2011) – MDN Inc. (“MDN”) (TSX:MDN) is pleased to announce that it has signed an agreement with PricewaterhouseCoopers Corporate Finance Inc. (PwCCF) as financial advisor, in relation to the development of the Crevier project.
PwCCF’s mandate his twofold:
- Technical support for the financial modeling of the Crevier project and analysis and financial modeling of any transaction involving a strategic investor who might participate directly in the project;
- Identification of a strategic partner to facilitate and support the Crevier project development.
MDN will have access to PwCCF’s human resources in Canada, and to their global network to identify strategic investor.
The Crevier project is an advanced niobium-tantalum project north of Lac Saint Jean. A feasibility study is presently underway on the project, and is scheduled for completion in the second half of 2011. Crevier is one of 11 mining development projects in Quebec’s Plan Nord.
MDN Inc. (TSX:MDN) is a mining exploration and development company exploring and developing projects in Quebec and Tanzania. The Company is also actively in search of new business opportunities that can increase shareholder value. In addition to its 30% participating interest in the Tulawaka gold mine, MDN is the operator and owner of a majority interest in mineral licenses totalling 757 km2 in the vicinity of the Tulawaka mine. MDN Inc. also owns a 72.5% interest in Crevier Minerals Inc. which owns an NI 43-101 niobium-tantalum resource in the Lac-Saint-Jean area of Quebec. MDN has an option to increase its equity participation in Crevier Minerals Inc. to a maximum of 87.5%. Additional information is available on MDN’s website at www.niobaymetals.com.
Forward-Looking Statements Other than statements of historical fact, all statements in this release that address events or developments that the Company expects to occur are forward-looking statements. Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements are discussed in greater detail in the Company’s most recent Annual Information Form filed on SEDAR, which also provides additional general assumptions in connection with these statements. Investors and others who base themselves on the Company’s forward-looking statements should carefully consider the factors mentioned in the Annual Information Form as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct, and as such, the forward-looking statements in this press release should not be unduly relied upon. These statements speak only as of the date of this press release.
Serge Bureau, Ing.
President and Chief Executive Officer
514 866-6500, Ext. 221
Marc Boisvert, Ing.
Vice President, Exploration
514 866-6500, Ext. 227
Nicole Blanchard, Investor Relations
Sun International Communications