Monday, April 30, 2012
Caldera Resources Inc. Update
Symbol: TSX-V: CDR
OTC: CAEFF
Shares: 59,333,333
Montreal, Canada - Thursday, August 30, 2012 - Montreal, Canada - Caldera Resources Inc. (the "Corporation") provides the following corporate update.
Caldera continues to prepare its motion to overturn the Arbitrator's award of March 29, 2012. The Company has been granted until early September 2012 to file its motion to vacate and/or modify the Arbitrator's decision.
The Company continues to focus on developing projects in Canada and has abandoned all further and future work on projects in the Republic of Armenia, including the Marjan West project. Back in June 11, 2012 the Company announced that it has signed an LOI on the Red Spring project in British Columbia. This project has been stalled due to the ongoing restructuring efforts of the company, but hopes to announce its progress shortly.
The Company will be filing its financial statements and MD&A for the quarter ending June 30, 2012 later today.
The Company also announces that Mark Billings has tendered his resignation as a director of the Corporation for professional and personal reasons. The Board of Directors would like to thank Mr. Billings for his contribution to the Corporation and wishes him the best in his future endeavors.
For additional information:
Anthony Soliman
Consultant
Newhouse Strategic Counsel Inc.
asoliman@newhousecounsel.com
Thursday, April 26, 2012
Corporate Update: Arbitrator Stays Order While Caldera Plans to Contest Ruling Caldera Seeks Additional Projects
Symbol: TSX-V: CDR
OTC: CAEFF
Shares: 59,333,333
Montreal, Canada - Thursday, April 26, 2012 - Montreal, Canada - Caldera Resources Inc. (the "Company" or "Caldera") reports during a scheduled arbitration hearing on Wednesday April 25, 2012, the Arbitrator issued an order to stay (suspend) the implementation of his arbitral award to May 22, 2012; therefore the transfer of the Marjan Property will not be effective at least prior to May 22, 2012. Caldera advised the Arbitrator that it intends to file a motion to overturn the Arbitrator's ruling of March 29, 2012.
In addition, Judge Kenneth Karas, of the United States District Court, Southern District of New York, issued a "Scheduling Order" in the current arbitration case. A scheduling order is an order entered by a court that sets certain deadlines in the current case where Caldera will be seeking to overturn or modify the order of the Arbitrator and Global Gold Mining and its parent as guarantor, Global Gold Corporation ("GBGD") will be seeking to confirm the award of the Arbitrator.
Caldera advised the Court that it intends to petition to overturn and/or modify the award. A hearing on the merits has been scheduled for June 28, 2012 or soon thereafter. Caldera will be presenting its grounds to contest the Arbitrator's award on elements that include misconduct, partiality, manifest disregard of the law and exceeding authority by the Arbitrator.
On the corporate front, the Company is continuing its operations after the set-back related to the Marjan Project arbitration. While the Company continues to defend its rights, the board of directors is seeking additional opportunities in Canada and elsewhere. Given its expertise and knowledge of the area, Caldera will continue to look at opportunities in the area covered by the Tethyan Belt, including its Marjan West Project in Armenia.
A 43-101 compliant technical report on the Marjan West Project is currently being updated by Caldera's Qualified Person, Mr. Ricardo Valls, M.Sc., P.Geo., and will be published shortly.
The Marjan West Project
Caldera's independent geologist and Qualified Person, Mr. Ricardo Valls, M.Sc., P.Geo., identified the potential target of the Marjan West property by completing the interpretation of a satellite data. Mr. Valls, together with the local staff in Armenia, visited and sampled selective outcrops within the limits of the license last exploration season. The property has never been systematically explored in the past.
The Qualified Person's review of the license area indicates that the 19 kilometer square Marjan West Project is an excellent exploration target as it has a prophyritic tonalite as well as kaolinitic alteration and copper mineralization. The license for the project is held by Biomine LLC, which is owned 91% by Caldera. This project is not subject to this arbitration.
Caldera has presented an exploration plan to the MENR and is waiting for final approval.
A 43-101 compliant technical report on the Marjan West Project is currently being updated Caldera's Qualified Person, Mr. Ricardo Valls, M.Sc., P.Geo., and will be published shortly.
About Caldera
Caldera Resources Inc. ("Caldera" or the "Company") is a resident Canadian company and incorporated under the Quebec Business Corporations Act. The Company's main business is the acquisition, exploration and development of precious and base metal projects in Canada and globally. The Company is currently developing projects in the Republic of Armenia. Caldera is developing the Marjan Project, which has historical Soviet-era resources of gold and silver and the Marjan West Project, which has a prophyritic tonalite as well as kaolinitic alteration and copper mineralization including opals. There has been no determination whether the Company's interests in mineral exploration properties contain mineral reserves, which are economically recoverable. A qualified person has not done sufficient work to classify the historical estimates on the Marjan Project as current mineral resources and the historical estimates should not be relied upon or understood to indicate the existence of reserves or resources.
The decision of the Arbitrator of March 29, 2012 relating to the joint venture, has affected the company's rights to the Marjan Project. The Company has announced that it will be filing a motion to vacate this ruling of the Arbitrator that annulled the contract between the parties. While Caldera will seek to protect its interests there is no guarantee as to the success of its legal actions. The Marjan West project is not subject to this Arbitration.
In September 2010 Global Gold Mining, LLC Armenia Branch, filed a lawsuit against the Ministry of Justice, State Register of Public Entities of the Republic of Armenia before the Administrative Court in the Republic of Armenia (Caldera intervened as a third party in this matter to protect its rights) seeking to annul the registration of the shares of Marjan Mining Company, LLC of the Republic Armenia in the name of Marjan-Caldera Mining, LLC the joint venture vehicle that was established pursuant to the Joint Venture Agreement.
On February 23, 2012 the Cassation Court of Armenia ruled in favor of Global Gold's claim against the Ministry of Justice, State Register of Public Entities of the Republic of Armenia and upheld a verdict of the Administrative Court which ruled that there were technical deficiencies in the registration process by the State Register. The registration of the shares of Marjan Mining Company, LLC (which holds the license on the Marjan Property) in favour of the joint venture vehicle controlled by Caldera has been struck from the register. The effect is that Caldera has lost control of Marjan Mining Company, LLC.
Cautionary Statement
The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. Former Soviet country estimates are presented for historical reporting and to provide a basis for assessing Caldera's choices for its business activities. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources and the historical estimate should not be relied upon or understood to indicate the existence of reserves or resources. Additional information related to the Company is filed electronically on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com .
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada (IIROC) accepts responsibility for the adequacy or accuracy of this release.
The security symbol, CAEFF, is part of the OTC Grey Market, where Caldera does not provide any reports and has no obligation to do so. There are no market makers under this symbol of this security. It is not listed, traded or quoted on any U.S. stock exchange or the OTC Markets. Trades in grey market stocks are reported by broker-dealers to their Self Regulatory Organization (SRO) and the SRO distributes the trade data to market data vendors and financial websites so investors can track price and volume. Since grey market securities are not traded or quoted on an exchange or interdealer quotation system, investor's bids and offers are not collected in a central spot so market transparency is diminished and Best Execution of orders is difficult. Caldera is not a filer on EDGAR. (see http://www.otcmarkets.com/otc-101/otc-market-tiers).
For additional information:
Anthony Soliman
Consultant
Newhouse Strategic Counsel Inc.
Tel: 514-380-5310 xt 2
asoliman@newhousecounsel.com
Thursday, April 5, 2012
Arbitrator Annuls Joint Venture Agreement for Marjan Project
Symbol: TSX-V: CDR
Shares: 59,333,333
Montreal, Canada - Thursday, April 5, 2012 - Caldera Resources Inc. (the "Company" or "Caldera") received a negative decision from the Arbitrator on its claim filed against Global Gold Corporation relating to the joint venture agreement between the parties.
The Board has received advice that there are elements in this case, which include misconduct, partiality and exceeding authority by the Arbitrator, that could give rise to a successful application to vacate (or overturn) the award. Under New York law Caldera has 90 days from the date of the "final" award to move to vacate.
In light of this, Caldera will be making arrangements to file a motion to vacate or modify the award. More details will be forthcoming over the next few days. Arbitration awards must be confirmed by a Court to become effective. Once Caldera's motion to vacate is filed, the Court will need to settle the claims before an award can be confirmed. Caldera thus maintains its rights to the Marjan Project in Armenia under the Joint Venture Agreement, pending a Court hearing of its anticipated motion.
Meanwhile, Caldera's President and CEO, Mr. Bill Mavridis has tendered his resignation as officer and Director of the Company. He has agreed to assist the Board during this transition period.
Caldera's Board of Directors is working to ensure that this transition period is properly managed for all of the Company's stakeholders. Caldera will review additional opportunities in Canada and elsewhere and intends to continue to explore its 100% owned Marjan West Project in Armenia.
The19 kilometer square Marjan West Project is an excellent exploration target as it has a prophyritic tonalite as well as kaolinitic alteration and copper mineralization. The license for the project is held by Biomine LLC, which is owned 91% by Caldera. This project is not subject to this arbitration.
The Arbitration Award
The Arbitrator's Award which was issued on March 29, 2012 focused on whether the precedent conditions for establishing the joint venture were met. The Arbitrator's award states that:
(1) The property should revert to GGM within thirty (30) days from the date hereof. Obviously, GGM may cause the appropriate governmental bodies in Armenia to register the property in GGM's name.
(2) Any sums actually paid by Caldera to GGM, should be returned to Caldera. Said sums should be returned within thirty (30) days from the date hereof. (3) As to any sums spent by Caldera on the property, Caldera shall be entitled to a Net Smelter Royalty 0.5 % for each tranche of $1,000,000 actually spent on the property.
The Marjan West Project
Caldera's independent geologist and Qualified Person, Mr. Ricardo Valls, M.Sc., P.Geo., identified the potential target of the Marjan West property by completing the interpretation of a satellite data. Mr. Valls, together with the local staff in Armenia, visited and sampled selective outcrops within the limits of the license last exploration season. The property has never been systematically explored in the past.
The Qualified Person's review of the license area indicates that the Marjan West Project has a prophyritic tonalite as well as kaolinitic alteration and copper mineralization. Caldera has presented an exploration plan to the MENR and is waiting for final approval.
Cautionary Statement
The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. Former Soviet country estimates are presented for historical reporting and to provide a basis for assessing Caldera's choices for its business activities. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources and the historical estimate should not be relied upon or understood to indicate the existence of reserves or resources.
Additional information related to the Company is filed electronically on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com .
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada (IIROC) accepts responsibility for the adequacy or accuracy of this release.
The security symbol, CAEFF, is part of the OTC Grey Market, where Caldera does not provide any reports and has no obligation to do so. There are no market makers under this symbol of this security. It is not listed, traded or quoted on any U.S. stock exchange or the OTC Markets. Trades in grey market stocks are reported by broker-dealers to their Self Regulatory Organization (SRO) and the SRO distributes the trade data to market data vendors and financial websites so investors can track price and volume. Since grey market securities are not traded or quoted on an exchange or interdealer quotation system, investor's bids and offers are not collected in a central spot so market transparency is diminished and Best Execution of orders is difficult. Caldera is not a filer on EDGAR. (see http://www.otcmarkets.com/otc-101/otc-market-tiers).
For additional information:
Anthony Soliman
Consultant
Tel: 514-380-5310 xt 2
asoliman@newhousecounsel.com
Shares: 59,333,333
Montreal, Canada - Thursday, April 5, 2012 - Caldera Resources Inc. (the "Company" or "Caldera") received a negative decision from the Arbitrator on its claim filed against Global Gold Corporation relating to the joint venture agreement between the parties.
The Board has received advice that there are elements in this case, which include misconduct, partiality and exceeding authority by the Arbitrator, that could give rise to a successful application to vacate (or overturn) the award. Under New York law Caldera has 90 days from the date of the "final" award to move to vacate.
In light of this, Caldera will be making arrangements to file a motion to vacate or modify the award. More details will be forthcoming over the next few days. Arbitration awards must be confirmed by a Court to become effective. Once Caldera's motion to vacate is filed, the Court will need to settle the claims before an award can be confirmed. Caldera thus maintains its rights to the Marjan Project in Armenia under the Joint Venture Agreement, pending a Court hearing of its anticipated motion.
Meanwhile, Caldera's President and CEO, Mr. Bill Mavridis has tendered his resignation as officer and Director of the Company. He has agreed to assist the Board during this transition period.
Caldera's Board of Directors is working to ensure that this transition period is properly managed for all of the Company's stakeholders. Caldera will review additional opportunities in Canada and elsewhere and intends to continue to explore its 100% owned Marjan West Project in Armenia.
The19 kilometer square Marjan West Project is an excellent exploration target as it has a prophyritic tonalite as well as kaolinitic alteration and copper mineralization. The license for the project is held by Biomine LLC, which is owned 91% by Caldera. This project is not subject to this arbitration.
The Arbitration Award
The Arbitrator's Award which was issued on March 29, 2012 focused on whether the precedent conditions for establishing the joint venture were met. The Arbitrator's award states that:
(1) The property should revert to GGM within thirty (30) days from the date hereof. Obviously, GGM may cause the appropriate governmental bodies in Armenia to register the property in GGM's name.
(2) Any sums actually paid by Caldera to GGM, should be returned to Caldera. Said sums should be returned within thirty (30) days from the date hereof. (3) As to any sums spent by Caldera on the property, Caldera shall be entitled to a Net Smelter Royalty 0.5 % for each tranche of $1,000,000 actually spent on the property.
The Marjan West Project
Caldera's independent geologist and Qualified Person, Mr. Ricardo Valls, M.Sc., P.Geo., identified the potential target of the Marjan West property by completing the interpretation of a satellite data. Mr. Valls, together with the local staff in Armenia, visited and sampled selective outcrops within the limits of the license last exploration season. The property has never been systematically explored in the past.
The Qualified Person's review of the license area indicates that the Marjan West Project has a prophyritic tonalite as well as kaolinitic alteration and copper mineralization. Caldera has presented an exploration plan to the MENR and is waiting for final approval.
Cautionary Statement
The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. Former Soviet country estimates are presented for historical reporting and to provide a basis for assessing Caldera's choices for its business activities. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources and the historical estimate should not be relied upon or understood to indicate the existence of reserves or resources.
Additional information related to the Company is filed electronically on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com .
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada (IIROC) accepts responsibility for the adequacy or accuracy of this release.
The security symbol, CAEFF, is part of the OTC Grey Market, where Caldera does not provide any reports and has no obligation to do so. There are no market makers under this symbol of this security. It is not listed, traded or quoted on any U.S. stock exchange or the OTC Markets. Trades in grey market stocks are reported by broker-dealers to their Self Regulatory Organization (SRO) and the SRO distributes the trade data to market data vendors and financial websites so investors can track price and volume. Since grey market securities are not traded or quoted on an exchange or interdealer quotation system, investor's bids and offers are not collected in a central spot so market transparency is diminished and Best Execution of orders is difficult. Caldera is not a filer on EDGAR. (see http://www.otcmarkets.com/otc-101/otc-market-tiers).
For additional information:
Anthony Soliman
Consultant
Tel: 514-380-5310 xt 2
asoliman@newhousecounsel.com
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