Forward-Looking and Cautionary Statements
Certain statements made in this website (the “Site”) that are not historical are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, including statements regarding Idaho Strategic Resources Inc’s (“ISRI” or the “Company”) anticipated 2015 income from milling and NSRs, grades, development efforts, the potential partnership with Juniper Resources or Gold Hill (collectively, “Juniper”), advancement of high grade projects, Juniper’s production estimates and ISRI’s future performance. The words “estimate,” “project or projected,” “intend,” “expect,” “believe,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause our actual results, performance or achievements to be materially different from those contemplated by any future statements.
This Site contains a variety of forward-looking statements and opinions expressed by the Company in discussing its projects. The information and estimates contained herein have, for the most part, been generated by persons who participated in the preparation of this Site. These forward-looking statements and opinions are based upon the most accurate current and available information at the time of the posting to the Site; however, you should not perceive them as absolute fact. They are based on estimates and assumptions.
ISRI has based its forward-looking statements on current expectations and projections concerning future events and believes that the expectations reflected in this Site are reasonable; however no assurance can be given that these expectations will prove to be correct. These statements can be materially and unpredictably affected by any one of the following Risk Factors:
- Our business and operations are affected by the volatility of prices for gold;
- Operational, environmental and systems risks may adversely affect our ability to mill or mine;
- Expansion of operations will require significant capital expenditures for which the Company may be unable to provide sufficient funding;
- Disputes with the Company’s partners and joint venture partners may arise;
- Loss of key management and technical personnel may have adverse effects on our business;
- Future changes of the Company’s Board of Directors may affect the direction of the Company;
- The establishment and estimates of ore grade, mineralization and reserves may be incorrect;
- Anticipated expenditures and costs in our operations may be higher than expected;
- Plans and anticipated timing for obtaining licenses for our employees or our contractor’s employees may take longer than expected;
- Necessary future financings may not be feasible;
- Juniper’s internal studies may be incorrect;
- There is a possibility a partnership with Juniper will not be consummated;
- Anticipated production levels may not be attained;
- There are hazards inherent in the mining business that could cause unforeseen liabilities (including risks inherent in developing large-scale mining projects, environmental hazards, industrial accidents, weather or geologically related conditions);
- Other uncertainties and risk factors.
Some Statements in this Site may be considered historical fact. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. ISRI disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise.
Cautionary Note to Investors
The United States Securities and Exchange Commission permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this Site, such as “measured,” “indicated,” and “inferred resources” that the SEC guidelines strictly prohibit us from including in our filing with the SEC. U.S. investors are urged to consider closely the disclosures in our filings with the SEC. This Site contains information about adjacent properties on which we may have no right to explore or mine. We advise U.S. investors that the SEC’s mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This Site contains information about materials being processed in the Company’s mill which the Company may have no right to. Terms used to reference to the material being process in our mill such as “ore,” or “ore concentrate,” in no way indicate that the Company may have a provable or probable reserve under Industry Guide 7 or any ownership interest in the material being processed.
Cautionary Note Regarding Estimates of Measured, Indicated and Inferred Resources
Reporting requirements in the United States for disclosure of mineral properties are governed by the SEC and included in the SEC’s Securities Act Industry Guide 7, entitled “Description of Property by Issuers Engaged or to be Engaged in Significant Mining Operations” (Guide 7). However, the Company is in a joint venture on the Golden Chest with Marathon Gold, a “reporting issuer” under Canadian securities laws, which require estimates of mineral resources and reserves to be prepared in accordance with Canadian National Instrument 43-101 (NI 43-101). NI 43-101 requires all disclosure of estimates of potential mineral resources and reserves to be disclosed in accordance with its requirements. Some Canadian information has been included here as historical information that is publicly available in Canada.
Reporting requirements in the United States for disclosure of mineral properties under Guide 7 and the requirements in Canada under NI 43-101 standards are substantially different. This Site contains a summary of certain estimates of the Company, not of proven and probable reserves within the meaning of Guide 7, which requires the preparation of a “final” or “bankable” feasibility study demonstrating the economic feasibility of mining and processing the mineralization using the three-year historical average price for any reserve or cash flow analysis to designate reserves and that the primary environmental analysis or report be filed with the appropriate governmental authority. This Site also contains mineral resource and mineral reserve estimates estimated in accordance with the definitional standards of the Canadian Institute of Mining, Metallurgy and Petroleum referred to in NI 43-101. The terms “measured resources”, “indicated resources,” and “inferred resources” are Canadian mining terms as defined in accordance with NI 43-101. These terms are not defined under Guide 7 and are not normally permitted to be used in reports and registration statements filed with the SEC in the United States, except where required to be disclosed by foreign law. The term “resource” does not equate to the term “reserve”. Under Guide 7, the material described herein as “indicated resources” and “measured resources” would be characterized as “mineralized material” and is permitted to be disclosed in tonnage and grade only, not ounces. The category of “inferred resources” is not recognized by Guide 7. Investors are cautioned not to assume that any part or all of the mineral deposits in such categories will ever be converted into proven or probable reserves. “Resources” 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 such a “resource” will ever be upgraded to a higher category or will ever be economically extracted. Investors are cautioned not to assume that all or any part of a “resource” exists or is economically or legally mineable. Investors are also especially cautioned that the mere fact that such resources may be referred to in ounces of silver and/or gold, rather than in tons of mineralization and grades of silver and/or gold estimated per ton, is not an indication that such material will ever result in mined ore which is processed into commercial silver or gold.
This Site and its Content are provided “as is” and “as available”. The Content is believed to be accurate when it was posted on this Site. However, the Content may not be accurate, complete or current. To the fullest extent permissible under applicable law, the Company disclaims all representation and warranties, whether express, implied or statutory (including without limitation any warranties of merchantability, fitness for a particular purpose, accuracy and non-infringement). The Company does not represent or warrant that functions contained in the Site will be uninterrupted or error-free, that defects will be corrected, or that the Site or the server that makes it available is free of viruses or other harmful components.
The information and content contained on the Site is prepared by the Company and is believed to be accurate, but has not been independently audited or verified and is provided for informational purposes only. This information and content is not to be construed as an offer or as a recommendation to buy or sell securities in any jurisdiction, nor should the information be relied on when making an investment decision. The Company does not warrant or make any representations regarding the use or the results of the use of any content in terms of completeness, correctness, accuracy, reliability, usefulness, timeliness, reliability or otherwise. The information and other content on the Site is not meant to modify, qualify, supplement or amend information disclosed by or on behalf of the Company under corporate, securities or other legislation in any jurisdiction, and should not be used to make investment decisions involving the Company’s securities.
Limitation of Liability
The Company and its affiliates, officers, directors, employees and representatives will not be liable to you or any other party for any damages of any kind including, without limitation, indirect, special, consequential or incidental damages, lost profits, business interruption or other damages arising directly or indirectly from your use of the Site or the content, including without limitation your use or reliance on any information or other content contained on the Site; any inaccuracy or omission in any information or other content contained on the Site; your use of or reliance on any third-party websites linked to the Site.
All stock price quotes and historical stock price data on the site are provided by third parties, are for informational purposes only, and are not intended for trading purposes. If you are contemplating trading in the Company’s securities, the Company strongly advises that you obtain independent professional advice (including independent legal and financial advice from qualified advisors) before making any investment decision. The Company makes no representation or warranty regarding the timeliness, accuracy or completeness of any stock price quotes or historical stock price data and has not taken any steps to verify the adequacy, timeliness, accuracy or completeness of the information on the Site.
The sites that are linked from the Site are not under the Company’s control, and the Company does not assume any responsibility or liability for any communications or materials available at or from those linked sites. The Company does not investigate, monitor or check those websites for accuracy or completeness. All links are provided for your convenience only; they are not an endorsement or referral by the Company.
Third Party Claims and Indemnification
You agree that you are responsible for your behavior in connection with the Site. The Company will not be liable for claims made against you, the Company, or the Company’s service providers, affiliates, agents, directors or employees arising out of your use of the Site. You hereby agree to indemnify, defend, and hold the Company, and the Company’s related companies, officers, directors, employees and agents, harmless from and against any claim or demand, including reasonable attorney fees and costs, made by any third party due to or arising, directly or indirectly, in whole or in part, out of your use of the Site. Notwithstanding the foregoing, the Company reserves the right to select its attorneys, and to control its defense in response to any such claim or demand.
Governing Law and Choice of Venue
You agree that all causes of action relating in any way to the Site (including but not limited to claims under contract, for torts or any other basis of liability) will be governed by and construed in accordance with the laws of the State of Idaho without regard to its conflicts or choice of law provisions. You also agree that the federal and state courts in Kootenai County, Idaho will have exclusive jurisdiction and will be the exclusive venue for all causes of action relating in any way to the Site.