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Abstract
The October 2014 PEA of the Curraghinalt deposit demonstrated positive economics, including an after-tax IRR of 36.2% at a gold price of US$1,200 per ounce, for an underground mine producing 162,000 ounces of gold per year on average over 18 years. The PEA was based on the January 20, 2014 resource estimate. Curraghinalt hosts an NI 43-101 compliant measured mineral resource of 0.02 MT grading 20.15 g/t gold for 15,100 contained ounces, indicated mineral resource of 2.98 MT grading 10.34 g/t gold for 989,000 contained ounces and inferred mineral resource of 8.01 MT grading 9.67 g/t for 2,487,700 contained ounces. Mineral resources which are not mineral reserves do not have demonstrated economic viability. Dalradian's NI 43-101 report is dated October 30, 2014, entitled "An Updated Preliminary Economic Assessment of the Curraghinalt Gold Deposit, Tyrone Project, Northern Ireland", was prepared by Messrs. Jacobs, Gowans, [Villeneuve] and [Foo] of Micon International Ltd. and Mr. [Maunula] of T. Maunula & Associates Consulting Inc., and is available on SEDAR at www.sedar.com.
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, test work and confirming results from work performed to date, estimation of mineral resources and the realization of the expected economics of the Curraghinalt Gold Deposit. Often, but not always, forward-looking statements can be identified by the use of words and phrases such as "plans," "expects," "is expected," "budget," "scheduled," "estimates," "forecasts," "intends," "anticipates," or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved.