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Rockhaven Resources
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Rockhaven Resources
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Rockhaven Resources Ltd. Announces Disclosure Clarification
ROCKHAVEN RESOURCES LTD. ANNOUNCES DISCLOSURE CLARIFICATION
May 2, 2008 — Rockhaven Resources Ltd. (TSX-V:RK) (“Rockhaven”) - From time to time the British Columbia Securities Commission selects listed companies for a technical disclosure review. As a result of a review by the British Columbia Securities Commission, Rockhaven is issuing the following news release to clarify certain of its disclosures.
In some of Rockhaven’s shareholder handouts, corporate presentations and website information, it disclosed an historical inferred resource estimate of 312,000 tonnes grading 390.8 g/t silver, 3.81 g/t gold and 5% combined lead-zinc without properly referencing the non-reliable nature of this information. Rockhaven would like to clarify that this estimate is not National Instrument 43-101 (“NI 43-101”) compliant and that Rockhaven does not treat the historical estimate as current mineral resources or mineral reserves. Investors are cautioned that the estimate should not be relied upon.
Rockhaven disclosed in-situ gross metal values of the aforementioned historical estimate for its Plata project on its corporate presentation and website. Rockhaven retracts all disclosures related to in-situ gross metal values because the disclosed values fail to take into consideration expected operating and capital costs, recoveries, smelter costs and other factors relating to the potential mining, extraction and recovery of metals.
In its news releases, website, MD&A and other disclosure, Rockhaven did not disclose the relationship to it of the qualified person who prepared or supervised the preparation of the information that forms the basis for its technical disclosure. A technical report describing the Plata project filed January 30, 2008 was authored by Gerald G. Carlson, Ph.D., P.Eng, an independent “Qualified Person” pursuant to the provisions of NI 43-101; however, Mr. Carlson did not review or author any of the summaries of data presented in the report. Information regarding other properties was summarized by management from historical information and was not specifically authored by a professional geoscientist. Rockhaven understands that the TSX Venture Exchange requires this disclosure and will ensure it does so in the future.
On its website, Rockhaven summarized previous exploration results by reporting the highest or best values, often on an “up to” basis. Rockhaven should not have used highest values, as this type of disclosure is not balanced or complete, and can be materially misleading, particularly if the high values are from selected samples or outliers.
Rockhaven is currently taking steps to ensure that all information on its website, corporate presentation and investor information materials are in compliance with all TSX Venture Exchange policies and that it will relay clear and accurate disclosure to its shareholders in the future.
For updated information concerning Rockhaven Resources Ltd. or its various exploration projects please visit our website at www.rockhavenresources.com or contact:
Graham Downs
Rockhaven Resources Ltd.
604-687-2522
graham@nordacres.com
ROCKHAVEN RESOURCES LTD.
Per: Robert C. Carne, President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OF THIS NEWS RELEASE.
May 2, 2008 — Rockhaven Resources Ltd. (TSX-V:RK) (“Rockhaven”) - From time to time the British Columbia Securities Commission selects listed companies for a technical disclosure review. As a result of a review by the British Columbia Securities Commission, Rockhaven is issuing the following news release to clarify certain of its disclosures.
In some of Rockhaven’s shareholder handouts, corporate presentations and website information, it disclosed an historical inferred resource estimate of 312,000 tonnes grading 390.8 g/t silver, 3.81 g/t gold and 5% combined lead-zinc without properly referencing the non-reliable nature of this information. Rockhaven would like to clarify that this estimate is not National Instrument 43-101 (“NI 43-101”) compliant and that Rockhaven does not treat the historical estimate as current mineral resources or mineral reserves. Investors are cautioned that the estimate should not be relied upon.
Rockhaven disclosed in-situ gross metal values of the aforementioned historical estimate for its Plata project on its corporate presentation and website. Rockhaven retracts all disclosures related to in-situ gross metal values because the disclosed values fail to take into consideration expected operating and capital costs, recoveries, smelter costs and other factors relating to the potential mining, extraction and recovery of metals.
In its news releases, website, MD&A and other disclosure, Rockhaven did not disclose the relationship to it of the qualified person who prepared or supervised the preparation of the information that forms the basis for its technical disclosure. A technical report describing the Plata project filed January 30, 2008 was authored by Gerald G. Carlson, Ph.D., P.Eng, an independent “Qualified Person” pursuant to the provisions of NI 43-101; however, Mr. Carlson did not review or author any of the summaries of data presented in the report. Information regarding other properties was summarized by management from historical information and was not specifically authored by a professional geoscientist. Rockhaven understands that the TSX Venture Exchange requires this disclosure and will ensure it does so in the future.
On its website, Rockhaven summarized previous exploration results by reporting the highest or best values, often on an “up to” basis. Rockhaven should not have used highest values, as this type of disclosure is not balanced or complete, and can be materially misleading, particularly if the high values are from selected samples or outliers.
Rockhaven is currently taking steps to ensure that all information on its website, corporate presentation and investor information materials are in compliance with all TSX Venture Exchange policies and that it will relay clear and accurate disclosure to its shareholders in the future.
For updated information concerning Rockhaven Resources Ltd. or its various exploration projects please visit our website at www.rockhavenresources.com or contact:
Graham Downs
Rockhaven Resources Ltd.
604-687-2522
graham@nordacres.com
ROCKHAVEN RESOURCES LTD.
Per: Robert C. Carne, President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OF THIS NEWS RELEASE.