Meritus withdraws Gutain Davaa resource references
Meritus Minerals Ltd., as a result of a review by the British Columbia Securities Commission, is issuing the following news release to clarify its disclosure.
In its previous MD&A (management's discussion and analysis) disclosure, a news release dated Aug. 9, 2012, and in a material change report
Meritus referred to the existence of a gold resource together with associated tonnage and grade at the Toordogiin Shil prospect on the Gutain Davaa project that were registered with the Mongolian authorities in accordance with Mongolian legislation. Terminology and definitions used in Mongolian legislation differ from those used in applicable legislation in Canada. The disclosure was intended to factually describe what Meritus had filed and what procedures had been taken in Mongolia and the use of the word resource is strictly within the definition used in Mongolian legislation which is not recognized as an acceptable foreign code as defined by National Instrument 43-101. Meritus wishes to clarify that it has not conducted sufficient exploration to define a mineral resource as defined in NI 43-101 and it is uncertain that further exploration on the property will result in the delineation of a mineral resource as defined by NI 43-101. Therefore, the statement released in the MD&A, news release and material change report is not suitable for public dissemination, should not have been made and is accordingly withdrawn. Meritus will also be amending the applicable MD&A.
We seek Safe Harbor.