TORONTO, ONTARIO--(Marketwire - April 2, 2012) - Chieftain Metals Inc. ("Chieftain" or the "Company") (TSX:CFB.TO - News) is pleased to announce that the Special Use Permit S23154 ("SUP"), previously issued to Redfern Resources Ltd., for the construction and operation of the 162 km access road to connect the Tulsequah Chief Mine to Highway 7 and the public road system, immediately north of Atlin, BC has been transferred to Chieftain. The transfer of the SUP is the final major permit requirement for the Tulsequah project. Chieftain is preparing an amendment of this route consistent with the Letter of Understanding between Chieftain and the Taku River Tlingit First Nation ("TRTFN"; see press release dated May 4, 2011), the Atlin Taku Land Use Plan and Whooshtin Yan Too Aat Land and Resource Management and the Shared Decision Making Agreement between the TRTFN and the Government of British Columbia (see press release dated July 19, 2011).
Chieftain is presently engaged in an Environmental Assessment ("EA") Certificate amendment process to seek a re-alignment of this access road. The re-alignment proposes to depart the approved road route at kilometer 57 and connect to the existing public road system at the terminus of the Warm Bay road, south of Atlin. This would reduce the access road length from 162 km to 125 km, better avoid areas of cultural and environmental significance to the TRTFN and stakeholders, and substantially reduce potential environmental impacts on key wildlife and fish values. Chieftain anticipates a conclusion to the EA amendment process by late June 2012.
The receipt of the SUP allows Chieftain to commence construction activities at the southern half of the access road, which is not subject to the amendment process. A road tender package has been issued to qualified contractors, with intention for an award selection to be issued by May 2012. Chieftain is committed to seeking meaningful First Nation and local participation in all contracts.
Victor Wyprysky, President and CEO of Chieftain Metals Inc. states, "Chieftain has worked closely with the Taku River Tlingit First Nation and stakeholders to meet the requirements of the Land Use Plan. We have identified and redesigned a significantly improved route that reduces cultural and environmental impacts. The transfer of the SUP allows Chieftain to commence road construction."
About Chieftain Metals Inc.:
Chieftain Metals Inc.'s principal business is the acquisition, exploration and development of mineral properties. Since incorporation, the Company's business has focused entirely on the acquisition, and thereafter the development, of the Tulsequah Chief Polymetallic Project, in north-western British Columbia, Canada. The Tulsequah Project consists of 38 mineral claims and Crown-grants covering approximately 14,220 hectares and covers two previously producing mines. For more information on the Tulsequah Project, please refer to the Company's NI 43-101 compliant technical reports, "Tulsequah Chief Deposit, Tulsequah Chief Property, Northern British Columbia" and "Big Bull Project, Tulsequah Chief Property, Technical Report, Northern British Columbia", each dated as of November 8, 2010 and available under the Company's profile on SEDAR (www.sedar.com).
This press release includes certain "forward-looking statements" within the meaning of the Ontario Securities Act or other laws or regulations. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization, mineral resources or reserves, exploration results and future plans and objectives of Chieftain Metals Inc. are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.