MXG Maxim Power Corp

Maxim Power Corp. ("MAXIM" or the "Corporation") (TSX:MXG) announced today that
its wholly owned subsidiary, Summit Coal Inc. ("SUMMIT"), has issued an updated
Technical Report for its Mine 14 (metallurgical coal) project pursuant to
National Instrument 43-101.


The report outlines Measured and Indicated Resources are 119.3 million tonnes,
reflecting a 359% increase over those reported in 2005, and Inferred Resources
are 154.0 million tonnes. Proven and Probable Reserves, which are included in
the Resource estimate, are 18.7 million tonnes, representing an increase of 40%.
As a result, the estimated mine life of Mine 14 increases from 10 years to 14.4
years based on the currently planned mining program. Refer to the May 2012
Technical Report on SEDAR (www.sedar.com), which was prepared by Golder
Associates.


MAXIM also announced today that SUMMIT was awarded two coal leases comprising
2,560 hectares, in the Alberta Government's Public Offering of Crown Coal Rights
on May 2, 2012. One of these leases comprises 768 hectares immediately adjacent
to MAXIM's existing Mine 14 coal leases. The second lease comprises 1,792
hectares and is located northwest of leases owned by Grande Cache Coal
Corporation. The addition of these leases increases the coal lease holdings of
SUMMIT by 92% to 5,341 hectares. The May 2012 Technical Report excludes
potential Resources and Reserves associated with these new leases.


SUMMIT intends to carry out an exploration program during 2012 to identify
additional Resources and Reserves on both its existing and recently acquired
leases. Upon the completion of this program, SUMMIT intends to issue a further
updated Technical Report.


Additional information on Mine 14 can be found in the Technical Report on the
Mine 14 Project for Summit Coal Inc. dated May 3, 2012, which is available on
SEDAR (www.sedar.com).


About MAXIM

Based in Calgary, Alberta, MAXIM is an independent power producer, which
acquires or develops, owns and operates innovative and environmentally
responsible power and power related projects. MAXIM currently owns and operates
40 power plants in western Canada, United States and France, having 788 MW of
electric and 111 MW of thermal net generating capacity. MAXIM trades on the TSX
under the symbol "MXG". For more information about MAXIM, visit our website at
www.maximpowercorp.com.


Statements in this release which describe MAXIM's intentions, expectations or
predictions, or which relate to matters that are not historical facts are
forward-looking statements. These forward-looking statements involve known and
unknown risks and uncertainties which may cause the actual results, performances
or achievements of MAXIM to be materially different from any future results,
performances or achievements expressed in or implied by such forward-looking
statements. MAXIM may update or revise any forward-looking statements, whether
as a result of new information, future events or changing market and business
conditions and will update such forward-looking statements as required pursuant
to applicable securities laws.

Grafico Azioni Maxim Power (TSX:MXG)
Storico
Da Mag 2024 a Giu 2024

Grafico Azioni Maxim Power (TSX:MXG)
Storico
Da Giu 2023 a Giu 2024