February 13, 2012 – Republic of Mining

NEWS RELEASE: Chamber of Mines Congratulates NWT Government on Renewal of Prospectors Grubstake Program

February 13, 2012

Yellowknife, NT – February 13, 2012

The Chamber of Mines congratulates the NWT Government’s Ministry of Industry, Tourism and Investment for the announcement late last week that the Prospectors Grubstake Program would be re-launched after a 5-year absence.

According to Minister Ramsay, the program will provide financial assistance to qualified Northwest Territories prospectors through the Prospectors Grubstake Program, the NWT Government hopes to see additional prospectors search for new mineral occurrences or to reassess previously known occurrences and deposits around the territory.

Healthy and active exploration is the foundation for a sustainable mining industry. It was the persistence and optimism of prospectors Chuck Fipke and Stewart Blusson that resulted in diamonds being discovered in the NWT.

This led to the largest staking rush in Canadian history, and most importantly resulted in 3 diamond mines – Ekati, Diavik, and Snap Lake – that have created some of the largest opportunities the NWT has ever seen, particularly in Aboriginal employment and business.

Canada mining boom leaves natives in the cold (Attawapiskat international coverage) – by Chris Arsenault (Al Jazeera – February 11, 2012)

February 13, 2012

http://www.aljazeera.com/

Indigenous community with “third world conditions” sits 90km from diamond mine, prompting fight for resource royalties.

Despite living just 90km from a massive diamond mine, Jackie Hookimaw Witt has watched poverty tear at the fabric of Attawapiskat, an indigenous community in northern Canada.

The northern Ontario community made international headlines recently, when the chief declared a state of emergency, as many houses lacked heating during frozen winters, and families were left sleeping in storage sheds, shacks or run-down trailers, often with no running water.

“Why are our people living in such extreme poverty when we are so close to this rich mine?” asked Witt, a mining critic born and raised in Attawapiskat. “There is something wrong with this.”

As mining companies around the world reap profits from high commodity prices, people in Attawapiskat are demanding a bigger slice of the pie from the diamonds extracted from their traditional territory.

NEWS RELEASE: Vale Celebrates Sudbury Saturday Night with a $150,000 Donation to the Human League’s P.L.A.Y. Program

February 13, 2012

(left to right) Rod LaRoque, President, The Human League; John Pollesel, Chief Operating Officer, Vale Canada and Director of Base Metals for Vale's North Atlantic Region; Kelly Strong, Vale's Vice-President Mining and Miling for the North Atlantic Region and General Manager, Ontario Operations; Dana Marshall, Executive Director, The Human League; and Jerry Beaudry, Fundraising Coordinator, The Human League.

For Immediate Release

SUDBURY, February 13, 2012 – Vale celebrated another Sudbury Saturday Night on February 11th, with a $150,000 donation to the Human League’s Positive Leisure Activities for Youth (P.L.A.Y.) Program over the next three years.

“No child should have to miss out on playing a sport due to financial constraints,” said John Pollesel, Vale’s Chief Operating Officer, Vale Canada and Director of Base Metals for Vale’s North Atlantic Region. “Vale is pleased to support the Human League’s P.L.A.Y. Program and to provide the means for youth in our community to reach their potential through extracurricular activities.”

The Human League’s P.L.A.Y. Program removes financial barriers to extra curricular activities by providing registration and equipment costs for children to participate. The program focuses on a child’s self-image and self-esteem by giving him or her the necessary tools to access recreation in the community. Since its inception in 2003, the P.L.A.Y. program has helped over 4,800 children in the community get involved in hockey, soccer, music, dance and art programs.

JOINT NEWS RELEASE: Bold Ventures and Rencore Resources Urge Shareholders to Vote in Favour of Merger and Announce Plans for Drill Programs

February 13, 2012

Toronto, Ontario (February 3, 2012) – Bold Ventures Inc. (TSX.V: BOL) (“Bold”) and Rencore Resources Ltd. (CNSX: RNC) (“Rencore”) wish to advise shareholders that the shareholder meetings called to approve the proposed business combination of Bold and Rencore (the “Merger”) will be held on Monday, February 13, 2012 (collectively, the “Meetings”). Pursuant to the Merger, each outstanding common share of Rencore will be exchanged for one common share of Bold. Completion of the Merger and final acceptance from the TSX Venture Exchange (“TSXV”) is subject to a number of conditions and approvals, including fulfilling all filing requirements pursuant to the policies of the TSXV.

The Merger also requires the approval of a majority of not less than two-thirds of the votes cast in respect of the resolution to approve the Merger by shareholders of Rencore and approval of a majority of disinterested shareholders of Rencore entitled to vote at the Meetings and approval of a majority of disinterested shareholders of Bold entitled to vote at the Meetings.

Mining can help dig Ontario out of debt

February 13, 2012

This article was provided by the Ontario Mining Association (OMA), an organization that was established in 1920 to represent the mining industry of the province.

Ontario’s growing mineral industry can offer hope and opportunity to individuals and also assistance to government with its deficit problem. This was the message in a letter sent from Ontario Mining Association President Chris Hodgson to Ontario Finance Minister Dwight Duncan as part of a pre-budget submission.

“Mining holds the potential to quite literally help dig Ontario out of debt,” said Mr. Hodgson. “As the province faces a deficit of $16 billion this year, mining can be a partner in economic growth – growing jobs and growing government revenues.”

“In the province, today, mining is a $10 billion per year business, which employs about 27,000 people directly,” he added. “Canada’s mining industry is poised to make up to $140 billion in new investments in the next five years, with much of it in Ontario. What sectors of the economy are matching this level of activity on the capital spending front?”

Help wanted:[in Northwestern Ontario mining sector] – Special to The Chronicle-Journal (Thunder Bay Chronicle-Journal – February 13, 2012)

February 13, 2012

The Thunder Bay Chronicle-Journal is the daily newspaper of Northwestern Ontario.

Job seekers in Northern Ontario might be feeling perpetually discouraged when faced with headlines about high unemployment (nearly 12 per cent according to some reports), and the newest round of layoffs and job losses. Factor in the dismal state of the economy in the past few years and those looking for work or a career change may not be feeling very hopeful these days.

But where other industries may be gearing down, the mining sector, particularly in this region, is gearing up.

Because there are eight major exploration projects in the region that will result in mineral-producing mines between 2013 and 2017, there will be a strong demand for skilled labour and professionals in the next few years. Metals to be mined include gold, copper, nickel, platinum, palladium and chromium, a major component of stainless steel, which would be produced from chromite extracted from the highly prized Ring of Fire.

Northern Growth: Adding Up the Successes – by Livio Di Matteo (Northern Economist Blog – February 13, 2012)

February 13, 2012

Livio Di Matteo is Professor of Economics at Lakehead University in Thunder Bay, Ontario. Visit his new Economics Blog “Northern Economist” at http://ldimatte.shawwebspace.ca/

Well, the provincial government has not forgotten about the Northern Growth Plan after all. It would appear that planning for the plan to plan all plans is still being planned.

This morning’s opinion piece in the Thunder Bay Chronicle-Journal by Northern Development and Mines Minister Rick Bartolucci “Consensus in the North: The arithmetic of success” was no doubt designed to provide a quantitative bent to the government’s activities not by listing the investments it was planning to make in Northern infrastructure or documenting the size of the budget for new projects but by listing the number of consultations and their participants.

Indeed, according to the Minister:”When it comes to consulting, listening and collaborating with northerners, the McGuinty government is also ahead of the curve.” The provincial government is working with northerners “to create two regional economic development planning pilots in Northern Ontario”.

Consensus in the North: The arithmetic of success – by Rick Bartolucci (Thunder Bay Chronicle-Journal – February 13, 2012)

February 13, 2012

The Thunder Bay Chronicle-Journal is the daily newspaper of Northwestern Ontario.

Rick Bartolucci is the Ontario Minister of Northern Development and Mines

It’s been said that teamwork divides the task and multiplies the success.

As Ontario faces the stormy economic times that are clouding the financial futures of jurisdictions around the world, the Ontario government is committed to the task of ensuring that our province not only weathers the storm but emerges stronger than ever.

In the Legislature, our government looks to a consensual approach by all three parties to achieve the success for Ontario that we are all working toward. By collaborating, I believe we will meet our fiscal goals and build a stronger, more competitive economy.

In Northern Ontario too, the need for teamwork is more vital than ever. The North already has a strong tradition of regional cooperation as evidenced by organizations such as NOMA, NEOMA, FONOM and NOACC. Recent developments such as the formation of the Northern Mayors’ Council underline the increased recognition of the importance for northerners to pull together.

Canada opens doors to uranium trade with China – by Kip Keen (Mineweb.com – February 11, 2012)

February 13, 2012

www.mineweb.com

The big talking point in Canada is that as Chinese-Canadian relations warm up, so too will Canadian uranium in Chinese nuclear reactors.

HALIFAX, NS – Uranium producers in Canada got a heavy dose of good news as the country’s Prime Minister, Stephen Harper, abolished trade rules that banned the export of uranium to China.

Prime Minister Harper, who has been on a trade mission in China with Canadian business leaders, made the announcement as part of a slew of other agreements between China and Canada.

The Canadian government will amend a 1994 nuclear agreement between the two countries to allow uranium exports to China, though the exact details of what the amendment would say is unclear. Chinese and Canadian officials are to work them out over the coming months, a federal government statement said.

Government officials in Canada touted the uranium deal on two fronts, economic and environmental.