VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/17/10 --
Bonaventure Enterprises Inc. (TSX VENTURE: BVT) (FRANKFURT: YQG) - As a result of a review by the British Columbia Securities Commission, we are issuing the following News Release to clarify our continuous disclosure:
K-9 Property, Quebec:
The Company has decided not to continue with the drilling program referenced in the news releases of January 28, 2009 and June 3, 2009, has not completed a National Instrument ('NI') 43-101 report, and does not have a resource estimate or estimates of quantity-grade ranges for the uranium exploration target at the K-9 Property. The Company wishes to retract information about uranium quantity estimates and value contained in an article by 'Resource Investor' which appeared on the Company's website, as well as any other prior disclosure regarding quantities, value of contained uranium metal made previously by or about the Company regarding the K-9 Property.
Estimates of potential exploration targets expressed as fixed tonne quantities of 'uranium bearing material' or as 'potential volumes' appeared in the Company's February 20, 2008 news release, and in an investor Fact Sheet on the Company's website. The Company retracts the tonne quantities. Although exploration targets remain, there has been insufficient exploration to provide a basis for estimating the quantity and grade ranges of remaining targets, and it is uncertain if further exploration will result in delineation of a mineral resource.
The information of a scientific or technical nature relating to the K-9 Property contained in this news release has been prepared and verified under the guidance of, and approved by, the Company's Qualified Person under NI 43-101, Jean Lafleur, M. Sc., P. Geo. (OGQ #833), the former President and CEO of Bonaventure.
New Pass Property, Nevada:
Further to our news releases of May 14 and May 17, 2010, we are in the process of having a second amended NI 43-101 technical report prepared on the New Pass Property in Nevada, which will not be completed until the end of June. Accordingly, we advise that the mineral resource estimates disclosed in our May 14 and May 17, 2010 news releases are not currently supported by a compliant NI 43-101 technical report, are contrary to NI 43-101, and the resources should not be relied on until they have been independently verified and supported by the amended technical report.
The information of a scientific or technical nature relating to the New Pass Property contained in this news release has been prepared and verified under the guidance of, and approved by, geologist Paul D. Noland (B.Sc., P. Geo), being the Company's Qualified Person under NI 43-101.
We recently changed our website content manager, and the Company's website is currently shut down for a complete update to properly reflect our projects, properties and corporate information.
On behalf of the Board of Directors
Richard Kern
President
For further information on the Company, please visit our website at www.bonaventure.us.
The Company's public documents may be accessed at www.sedar.com.
Neither the 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.
Contacts:
Bonaventure Enterprises Inc.
Richard Kern,
President
(604) 718-2800
(604) 718-2808 (FAX)
www.bonaventure.us
