Claim Post Resources Inc. Commences Field Activities, Provides Operational Update and Announces Shareholder Meeting Date
CALGARY, Oct. 03, 2018 - Claim Post Resources Inc. (TSX-V: CPS) ("Claim Post" or the "Company") is pleased to announce that field activities have commenced at its Seymourville silica sand deposit.
Lowell Jackson, Claim Post’s Executive Chairman stated: "Claim Post is pleased to report that the Company is on track both operationally and corporately with its plan to develop this significant surface tier 1 sand deposit."
Operational Update
A 80-hole core drilling program is underway on the Seymourville property utilizing a sonic core drilling rig, and is expected to be completed by the end of November. The drilling program has been designed to obtain samples to fully delineate the sand resource controlled by Claim Post. These samples will be utilized to design the processing facilities and the mine construction plan. It is also anticipated that an updated "National Instrument 43-101 Report", detailing this sand resource play will be completed prior to year-end.
Following the successful closing of an increased and over-subscribed equity financing in early August and with the cooperation provided by local stakeholders through their letters of support to government regulators, Claim Post was able to expedite the permitting approval process related to this drill program.
Claim Post has engaged Turn Key Processing Solutions ("Turn Key" or "TPS") to design and construct the Seymourville processing facilities. Turn Key is a leading North American engineering procurement and construction firm in the frac sand business. In recent years, TPS has designed and built more than 25 frac sand plants. One of the last facilities Turn Key constructed was placed on production within 6 months after the design was completed.
Shareholder Meeting Date
An annual and special meeting of shareholders (the "Meeting") will be held on Thursday, October 25, 2018. In addition to the typical annual business matters to be considered, shareholders will also be asked to approve, subject to applicable regulatory approval, including the approval of the TSX Venture Exchange, resolutions to consolidate the Company’s share capital on the basis of fifteen old common shares for one new common share, to change the Company’s name to "Canadian Premium Sand Inc." and to continue the Company under the Canada Business Corporations Act and related matters. The Company believes these actions will put the Company on a new path of creating a new identity. This will also better position the Company to raise the funds it requires to finance its ongoing business activities by providing access to a broader range of shareholders all while re-branding the Company to more accurately reflect its business focus, namely becoming the leading Western Canadian sourced Tier 1 frac sand provider to the energy industry.
Further information relating the Meeting will be contained in the Management Information Circular prepared for the Meeting, which will be mailed to the Company’s shareholders and available for review under the Company’s profile at www.sedar.com.
About Claim Post Resources Inc.
Claim Post is a Canadian silica resource development and production company. It is currently developing a Tier 1 frac sand deposit at Seymourville, Manitoba. Its shares trade on the TSX Venture Exchange under the symbol "CPS".
Neither 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.
CONTACT INFORMATION:
www.claimpostresources.com
Lowell Jackson, P.Eng.
Executive Chairman
(403) 660-3702
Richard Williams, LLB.
Corporate Secretary and a Director
(416) 364-3123
Disclaimer for Forward-Looking Information
Certain statements in this press release related to the business prospects and development plans of the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements in this news release include statements relating to the development plans of the Company's sand deposit, the timing for the completion of the drilling program at the Seymourville property and the related NI 43-101 Report, the potential benefits to be derived from the approval of the matters to be considered at the Meeting. Such statements are qualified in their entirety by the inherent risks and uncertainties, that the TSX Venture Exchange may not approve the matters to be considered at the Meeting and such other factors beyond the control of the Company. Such forward-looking statements should therefore be construed in light of such factors, and the Company is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.