International Northair Mines Ltd. (TSXV: INM) ("Northair" or the "Company") is pleased to announce that it has changed its name to Northair Silver Corp. effective today with the trading symbol for the common shares to remain "INM" on the TSX Venture Exchange.
"The name change to Northair Silver Corp. reflects the Company's renewed focus and technical progress on our flagship La Cigarra silver project in the state of Chihuahua, Mexico," said Andrea Zaradic, President & CEO of Northair. "With a number of important milestones anticipated in the future, we believe this is the right time to update the Company's corporate identity, as we move towards becoming a development stage company with a focus on primary silver properties."
In addition, the Company is pleased to announce the voting results of its recent annual general meeting of shareholders ("AGM"), which was held on November 20, 2014. Shareholders approved the business items of setting the size of the Board at seven including the election of each director nominee. Detailed results of the vote for the election of directors are as follows:
| Nominee | # Votes For | % Votes For | # Votes Withheld | % Votes Withheld |
|---|---|---|---|---|
| Andrea Zaradic | 54,109,001 | 98.54 | 803,088 | 1.46 |
| Brian Irwin | 54,097,269 | 98.52 | 814,820 | 1.48 |
| Thomas Burkhart | 54,109,449 | 98.54 | 802,640 | 1.46 |
| Paul Dirksen | 54,095,689 | 98.51 | 816,400 | 1.49 |
| Ryan Schedler | 54,109,429' | 98.54 | 802,660 | 1.46 |
| Maurice Tagami | 54,101,029 | 98.52 | 811,060 | 1.48 |
| Antonio Reda | 54,097,001 | 98.52 | 815,088 | 1.48 |
Shareholders also approved the appointment Davidson & Company LLP, as the auditors of the Company by 99.95% of votes for, while the stock option plan and resolution authorizing and the continuation of the Company's shareholder rights plan was approved by approximately 96.51% and 86.75% of votes for, respectively. Shareholder participation was strong, with approximately 40% of the Company's outstanding shares having been voted at the AGM.
About Northair Silver Corp.
Northair Silver Corp. is a mineral exploration company engaged in the acquisition and development of silver properties in Mexico. Northair is focused on advancing its flagship La Cigarra silver project located in the state of Chihuahua, which currently hosts a NI 43-101 Resource estimate of 50.49 million ounces of silver in the Measured & Indicated categories grading 76 g/t silver (13.09 million ounces of Measured grading 65 g/t silver and 37.40 million ounces of Indicated grading 80 g/t silver) and 3.5 million ounces of silver in the Inferred category grading 61 g/t silver constrained by a Whittle pit shell at an economic cutoff grade of 30 g/t silver (assuming metallurgical recoveries of 84% silver). The project boasts a significant land package of over 32,000 hectares located within the Parral silver district and is 26 km from the city of Parral. The mineralized system at La Cigarra has been traced over 6.5 kilometres and is defined at surface as a silver soil anomaly and by numerous historic mine workings. The La Cigarra silver deposit also contains appreciable amounts of lead, zinc and gold.
For further information please see the Company's Technical Report entitled "San Gregorio/Las Carolinas Resources Technical Report La Cigarra Project, Chihuahua Mexico" dated effective February 26, 2013 which is available under the Company's profile at www.sedar.com.
ON BEHALF OF THE BOARD,
NORTHAIR SILVER CORP.
"Andrea Zaradic"
____________________________________
Andrea Zaradic, P. Eng.
President & CEO
For further information please contact Andrea Zaradic, President & CEO or
Chris Curran, Manager of Corporate Communications at 604-687-7545 or 1-888-338-2200
Website: www.northairsilver.com Email: [email protected]
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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 news release.
Caution Concerning Forward-Looking Statements
This news release may contain forward looking statements which are not historical facts, such as statements regarding the use of proceeds, the closing date, ore reserve estimates, anticipated production or results, sales, revenues, costs, or discussions of goals and exploration results, and involves a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, metal price volatility, volatility of metals production, project development, ore reserve estimates, future anticipated reserves and cost engineering estimate risks, geological factors and exploration results. See Northair's filings for a more detailed discussion of factors that may impact expected results.
Cautionary Note Concerning Estimates of Measured, Indicated and Inferred Mineral Resources
This news release uses the terms "Measured and Indicated Resources" and "Inferred Resources", which have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of a Measured and Indicated and/or Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Resources may not form the basis of feasibility or other economic studies. Northair advises U.S. investors that while this term is recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize it. U.S. investors are cautioned not to assume that part or all of a Measured, Indicated and Inferred resource exists, or is economically or legally minable.
