November 4th, 2019, VANCOUVER, B.C. Berkwood Resources Ltd. (TSX-V: BKR,FSE: BK2, WKN: A110N3) (“Berkwood” or the “Company”)wishes to notice a retraction of certain statements disseminated via a written article selectively disclosed via a paid content service retained by the Company, primarily for the creation of video content. The retraction is made in relation to a piece written by Mr. Alistair Ford: because Berkwood is a paid client of the content service provider, the disclosure does not comply with the requirements of NI 43-101. Specifically, the disclosure of an implied economic analysis in the absence of a filed PEA, PFS or FS that supports the representations with respect to the economic viability or technical feasibility of the project is proscribed.
The Company wished to specifically retract the following statements written by Mr. Ford, and quoting certain verbal statement by Berkwood, including that:
- the Company’s project is adjacent to Mason Graphite Inc (CVE:LLG), a company which has one of the largest graphite deposits in the world with 56.134mlntonnes of resource at 16.30% graphite that contains 9.478mlntonnes of graphite and a reserve of 4.714mlntonnes of ore that contains 1.317mlntonnes of contained graphite, and that the premise of the Berkwood play is that graphite continues from the LLG property onto Berkwood ground;
- that the Company has identified a NI 43-101 resource of 550,000 tonnes of contained graphite (correct), but with 70% to 80% showing up as premium quality large-size flakes that sells for $1,500 a ton on average;
- simple math of taking 550,000 contained tonnes timesUS$1500 per tonne at a conservative 25% profit margin gives you a potential profit of more than C$200 million as a rough indicator, and that Berkwood has only drilled 20% of the prospect;
- recent samples and trenching taken about half a kilometre away from this area have returned extremely encouraging graphite grades (correct and previously released), which indicates that the entire geophysical anomaly that the company is working on is likely to be mineralised with graphite, and high grade too (retracted);
- the graphite outcrops are all at surface, which is ideal from an economic perspective;
- it will take Berkwood between C$8mln and C$12mln to take the project through a bankable feasibility study and on to a decision to build and produce commercial graphite; and
- the company will need to add to the resource, by increasing shallow depth pits with coarse flake for the highest profit margin possible.
The above statements as disseminated via the service paid for by Berkwood are retracted without reservation.
About the Company: Berkwood is engaged in exploration for the commodities that enable the modern revolution in essential technologies. These technologies are dependent upon the ethical mining and supply of naturally occurring elements and minerals that enhance the performance of energy storage systems and permit the development and miniaturization of new electronics and structural components for the new suite of innovative tools. The Company is led by a team with collectively over 200 years experience and whose members have been involved with the discovery of several producing mines.
On Behalf of the Board of Directors
Berkwood Resources Ltd.
President, CEO & Director
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements, which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect.
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 release.