May 1, 2012 (Source: Canadian International Minerals) — Canadian International Minerals Inc. (CIN-TSX.V) (the “Company”) is pleased to announce that it has joined a prospecting syndicate (the syndicate) focused on graphite exploration in north western Ontario. The Company has funded the initial acquisition of the syndicate, and thereby has secured 50% interest in the Miller Graphite Project. The syndicate has staked 15 claims, comprising 240 hectares, which include the Miller graphite occurrence in Foch Township. The Miller graphite occurrence is described in a report by Lorne Luhta titled 1989 Report of Timmins Resident Geologist, Ontario Geological Survey.
Samples of graphite collected by the Timmins Resident Geologist staff returned analysis of 30.4% and 30.3% carbon. Flake size averages 1 millimetre but some flakes up to 3 millimetre. The sample may have the potential of producing high grade flakes in the minus 300, plus 150 micron fraction.The underlying geology consists of an east west striking sequence of quartzites and gneisses. Interbedded with the gneisses are graphite rich beds of medium-grained granular textured quartzites.
The historic showings and new graphite occurrences have been located by the syndicate which coincide with resistivity low airborne geophysical anomalies (OGS Map 60-028, 2001). The claims are accessible by forestry roads and further evaluation will be conducted after spring breakup. It is the intention of the syndicate to make the property available for option / joint venture to third parties.
The technical data in this news release has been reviewed by Thomas Hasek, P. Eng. a Qualified Person under the terms of N.I. 43-101. The transaction is subject to the acceptance of the TSX Venture Exchange.
On behalf of the Board of Directors,
“Michael E. Schuss”
Michael E. Schuss
President and Chief Executive Officer
How Do the Financial Results of Great Western Minerals Group Impact the Acquisition of the Ontario Large Flake Graphite Project?
The financial report for 2011 of Great Western Minerals Group has a direct impact on the acquisition of the Ontario Large Flake Graphite Project. Positive financial results may provide the company with the necessary funds to make the acquisition, while negative results could hinder the process.