Forward-Looking Statements: This website contains “forward-looking information” within the meaning of Canadian securities legislation and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements”). These forward-looking statements are made as of the date of this document and Prize does not intend, and does not assume any obligation, to update these forward-looking statements, except as required under applicable securities legislation.
Certain statements contained in this website may constitute forward-looking statements. These statements relate to future events or the future performance of Prize. All statements, other than statements of historical fact, may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “propose”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Prize 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 such forward-looking statements included on this website should not be unduly relied upon by investors as actual results may vary. Prize will not necessarily update this information unless it is required to by securities laws and the forward-looking statements contained in this website are expressly qualified in their entirety by this cautionary statement. This website also discloses mineral resources. Mineral resources that are not mineral reserves do not have demonstrated economic viability. In particular, this website contains forward-looking statements, pertaining to the following:
- capital expenditure programs;
- development of deposits and resources;
- treatment under regulatory regimes;
- expectations regarding Prize’s ability to raise capital;
- work plans to be conducted by Prize, and the production of gold and copper from Prize’s mineral projects;
With respect to forward-looking statements listed above and contained in this website, Prize has made assumptions regarding, among other things:
- the legislative and regulatory environment;
- the impact of increasing competition;
- current technological trends;
- unpredictable changes to the market prices for gold and copper;
- anticipated results of exploration and development activities; and
- that costs related to development of the gold and copper properties and the development of gold and copper production projects will remain consistent with historical experiences; and
- Prize’s ability to obtain additional financing on satisfactory terms.
- Prize’s actual results could differ materially from those anticipated in these forward-looking statements as a result of the risk factors set forth below:
- uncertainties regarding the regulatory regime and the application approval process;
- volatility in the market prices for gold and copper;
- uncertainties associated with estimating and developing resources;
- geological, technical, construction and processing problems;
- liabilities and risks, including environmental liabilities and risks, inherent in developing gold and copper projects;
- fluctuations in currency and interest rates;
- competition for, among other things, capital, acquisitions of mineral projects, undeveloped lands and skilled personnel; and
- unpredictable weather conditions.
Prize’s plans and results could differ materially from those anticipated in these forward-looking statements as a result of these risk factors set forth above. Prize recommends that you also review its most recent Annual MD&A filed on SEDAR at www.sedar.com as well as the Company’s other filings with the Canadian securities regulators for a discussion of other material risks that could cause actual results to differ significantly from current expectations. Other than as required by law, the Company does not intend, and does not assume any obligation, to update these forward-looking statements.
Notes to Investors Regarding the Use of Mineral Resources
Cautionary Note to Investors Concerning Estimates of Indicated Mineral Resources
This website uses the terms “indicated mineral resources”. Investors are advised that while those terms are recognized and required by Canadian regulations, the SEC does not recognize them. Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into mineral reserves.
Cautionary Note to Investors Concerning Estimates of Inferred Mineral Resources
This website also uses the term “inferred mineral resources”. Investors are advised that while this term is recognized and required by Canadian regulations, the SEC does not recognize it. “Inferred mineral resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that any part or all of an inferred mineral resource exists, or is economically or legally mineable.
Cautionary Note To U.S. Investors
The SEC permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. Prize reports mineral resource estimates in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum Best Practice Guidelines for Exploration and for Estimation of Mineral Resources and Mineral Reserves, in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). These standards are similar to those used by the SEC’s Industry Guide No. 7, as interpreted by Staff at the SEC (“Guide 7”). However, the definitions in NI 43-101 differ in certain respects from those under Guide 7. Prize uses certain terms in this news release, such as “indicated”, “inferred”, and “resources” that the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC.
NI 43-101 requires mining companies to disclose mineral reserves and mineral resources using the subcategories of “proven mineral reserves”, “probable mineral reserves”, “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources”. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
A mineral reserve is the economically mineable part of a measured and/or indicated mineral resource. It includes diluting mat erials and allowances for losses, which may occur when the material is mined or extracted and is defined by studies at pre-feasibility or feasibility level as appropriate that include application of modifying factors. Such studies demonstrate that, at the time of reporting, extraction could reasonably be justified.
Modifying factors are considerations used to convert mineral resources to mineral reserves. These include, but are not restricted to, mining, processing, metallurgical, infrastructure, economic, marketing, legal, environmental, social and governmental factors.
A proven mineral reserve is the economically mineable part of a measured mineral resource. A proven mineral reserve implies a high degree of confidence in the modifying factors. A probable mineral reserve is the economically mineable part of an indicated and, in some circumstances, a measured mineral resource. The confidence in the modifying factors applying to a probable mineral reserve is lower than that applying to a proven mineral reserve.
A mineral resource is a concentration or occurrence of solid material of economic interest in or on the Earth’s crust in such form, grade or quality and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade or quality, continuity and other geological characteristics of a mineral resource are known, estimated or interpreted from specific geological evidence and knowledge, including sampling.
A measured mineral resource is that part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics are estimated with confidence sufficient to allow the application of modifying factors to support detailed mine planning and final evaluation of the economic viability of the deposit. Geological evidence is derived from detailed and reliable exploration, sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation. An indicated mineral resource is that part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics are estimated with sufficient confidence to allow the application of modifying factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit. Geological evidence is derived from adequately detailed and reliable exploration, sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation. An inferred mineral resource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality continuity.
Investors are cautioned not to assume that part or all of an inferred mineral resource exists, or is economically or legally mineable.
A feasibility study is a comprehensive technical and economic study of the selected development option for a mineral project that includes appropriately detailed assessments of applicable modifying factors together with any other relevant operational factors and detailed financial analysis that are necessary to demonstrate, at the time of reporting, that extraction is reasonably justified (economically mineable). The results of the study may reasonably serve as the basis for a final decision by a proponent or financial institution to proceed with, or finance, the development of the project. The confidence level of the study will be higher than that of a pre-feasibility study.
Disclaimer: Material on this website may contain inaccuracies, omissions or typographical errors, for which Prize assumes no responsibility. Prize shall not be liable or responsible for any claim or damage, direct or indirect, special or consequential, incurred by the user arising out of the interpretation, reliance upon or other use of the information contained in the pages of this website.
Trademarks and Copyright: Certain names, graphics, logos, icons, designs, words, titles or phrases on this website may constitute trade names or trademarks of Prize. The display of any trade mark does not imply that a license of any kind to use the trade mark has been granted. All information found in the pages of this website is protected under the copyright laws of Canada and in other countries.
Unless otherwise specified, no user has permission to copy, redistribute, reproduce or republish, in any form, any information found in the pages of this website. Any user who, without authorization, re-transmits, copies or modifies any trademarks may violate federal or common law trade mark and/or copyright law, and may be subject to legal action.