CALGARY, ALBERTA--(Marketwire - Aug. 15, 2012) - TVI Pacific Inc. (TSX:TVI) (OTCQX:TVIPF) (TVI or the Company) announced today that it has filed an updated National Instrument 43-101 (NI 43-101) technical report. The independent technical report is entitled "NI 43-101 Technical Report on the Balabag Gold Project, Zamboanga Province, Philippines". The report was prepared for TVI Resource Development Phils. Inc (TVIRD), TVI's Philippine affiliate, by Clinton P. Smyth, P. Geo, Georeference Online Ltd of Vancouver, British Columbia, Canada. The NI 43-101 technical report is available on SEDAR at www.sedar.com and on TVI's website at www.tvipacific.com. Based on drilling completed to the end of June 2011, the independent qualified person estimates an indicated mineral resource of 1.78 million tonnes averaging 2.34 grams per [tonne] of gold and 72.3 grams per [tonne] of silver containing 134,262 ounces of gold and 4,148,196 ounces of silver. Readers are cautioned that such estimates remain conceptual in nature and mineral resources that are not mineral reserves do not have demonstrated economic viability.
Yulo Perez, Chief Operations Officer, TVIRD, a qualified person as defined by NI 43-101, has reviewed and accepts responsibility for the technical information contained within this press release.
About TVI Pacific Inc. (TSX:TVI) (OTCQX:TVIPF)
TVI Pacific Inc. is a publicly-traded Canadian company that is focused on the production, development, exploration and acquisition of resource projects in the Philippines through its affiliate TVIRD. TVIRD produces copper and zinc concentrates from its Canatuan mine, is pre-developing its Balabag gold and silver project, and is carrying out exploration programs on its other North Zamboanga tenements. TVI also has an interest in an offshore Philippine oil property.
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Statements in this news release relating to estimates of indicated resources may be considered to be forward-looking statements. Such estimate is based upon certain assumptions and factors, including: the Company's experiences with the development of the Canatuan mine in the Philippines, the current exploration plan developed by the Company and the Company's current budget and overall strategy for exploration in the Philippines, the timing of completion of various elements of the exploration plan and the proposed scoping study, which plans, budget and strategy are all subject to change. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that those expectations will prove to have been correct.
Forward-looking statements are subject to certain risks and uncertainties (known and unknown) that could cause actual outcomes to differ materially from those anticipated or implied by such forward-looking statements. These factors include, but are not limited to, such things as the volatility of prices for precious metals and base metals, commodity supply and demand, fluctuations in currency and interest rates, inherent risks associated with the exploration and development of mining properties, issuance of applicable permits, ultimate recoverability of mineral reserves, timing, results and costs of exploration and development activities, availability of financial resources or third-party financing, new laws (domestic or foreign), changes in administrative practices and changes in exploration plans or budgets. Various additional risks to which the Company is exposed in the conduct of its business (including exploration activities) are described in detail in the Company's Annual Information Form for the year ended December 31, 2011, which was filed on SEDAR on March 30, 2012 and is available under the Company's profile at www.sedar.com.
We caution readers not to place undue reliance on these forward-looking statements as a number of important factors could cause the actual outcomes to differ materially from the expectations expressed in such forward-looking statements. The forward-looking statements contained in this news release are expressly qualified, in their entirety, by this cautionary statement. The Company does not undertake to update any forward-looking statement made in this news release except as required by law.
The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.