Plains Creek announces a change to the board
VANCOUVER, May 15, 2012 /CNW/ - Plains Creek Phosphate Corporation ("Plains Creek", the "Company") (TSX‐V: PCP) announces the resignation of Mr. John Reynolds from the Board of Directors of the Company. As the Company has recently increased the size of the board with the addition of Mr. Kirill Zimin, Mr. Reynolds tendered his resignation to limit the number of his directorships and enable him to focus more on his other endeavors.
The Board wishes to thank Mr. Reynolds for his contributions to the development and success of the Company and wish him well in all his future ventures.
NI 43‐101 Compliant Technical Report:
The Company's current technical report (the "Technical Report") for its Farim Phosphate Project prepared in accordance with National Instrument 43‐101 ("NI 43‐101") is entitled, "Technical Report on the Preliminary Economic Assessment of the Farim Phosphate Project, Guinea‐Bissau" dated effective February 10, 2010, and was filed under the Company's profile on SEDAR at www.sedar.com on February 22, 2011. The Technical Report was prepared for the Company by John S. Warwick, B.Sc. (Hons) PIMMM, C.Eng., Eur.Ing. (Mining) of IMC Group Consulting Limited; Andre Lambert, B.Sc., MIMMM, EurGeol of IMC Group Consulting Limited; Alex Mitchell, MIMMM, C.Eng. of GBM Minerals Engineering Consultants Limited; and Michael Short, FIMMM, C.Eng. of GBM Minerals Engineering Consultants Limited, all of whom are independent Qualified Persons as defined under NI 43‐101.
About Plains Creek Phosphate Corporation:
Plains Creek Phosphate Corporation is a Canadian mining and exploration company focused on advancing iarim Phosphate Project located in Guinea‐Bissau, West Africa. The Project consists of a high‐quality development phosphate deposit containing a NI 43‐101 compliant measured phosphate resource of 69 million tonnes ("Mt") grading 29.9% P2O5, an indicated resource of 15 Mt grading 30.1% P2O5, and an inferred resource of 44 Mt grading 29.6% P2O5. The Project has a 25 year mining plan of 68 Mt phosphate grading 29.9% P2O5, as disclosed in the Company's NI 43‐101 compliant Technical Report. The Company's shares are listed on the TSX Venture Exchange under the trading symbol "PCP". For additional information, please visit us at www.plainscreek.com.
ON BEHALF OF THE BOARD
(signed) "Carson Phillips"
Carson Phillips
Vice‐President, Corporate Development and Director
Cautionary Statement
Statements in this release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the Company can fulfill such forward-statements and the Company undertakes no obligation to update statements. Such forward looking statements are only predictions; actual events or results may differ materially as a result of risks facing the Company, some of which are beyond the Company's control.
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.
Carson Phillips
Vice‐President, Corporate Development and Director
Telephone: (604) 569‐0721 E‐mail: [email protected]
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