June 08, 2009 MBMI Updates Status Of Year-End Financial Statement Delay
Vancouver, B.C., June 8, 2009 - MBMI RESOURCES INC. ("MBMI" or the "Company") (TSX V: MBR) reports that further to the News Release dated June 1, 2009 (the "Default Notice"), whereby management determined that the Company would be delayed in filing its annual audited financial statements by the June 1, 2009 filing deadline, the Company applied for, and has now received, a Management Cease Trade Order pursuant to National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203").
The audit is currently well underway and the Company expects to be in a position to file the 2008 audited financial statements, management's discussion and analysis and CEO and CFO certificates on or about June 16, 2009.
Pursuant to the requirements of Section 4.4 of NP 12-203 - Alternative Information Guidelines ("AIG"), the Company reports the following:
i. There have been no material changes to the information contained in the Default Notice and MBMI's Auditors are in process of completing the Company's audit and the Company expects to file its 2008 Annual Audited Financial Statements on or about June 16, 2009;
ii. There have been no failures with respect to the Company fulfilling its stated intention of satisfying the requirements of the AIG;
iii. There has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the Default Notice; and,
iv. There is no other material information about the affairs of the Company that has not otherwise been reported.
Corporate Profile
MBMI Resources Inc. is a Canadian-based mining company focused on the exploration and development of nickel mineral properties in the Philippines. MBMI and its Philippine partners have an interest in nine nickel laterite projects in the Philippines, covering an area greater than 22,000 hectares. MBMI's objective is to become a major supplier of high-grade nickel products to primary industrial consumers in Asia.
ON BEHALF OF THE BOARD OF DIRECTORS
"Michael T. Mason"
President and Director
Further Information
For further information relating to the Company or this release, please refer to the Company's website at www.mbmiresources.com or contact Investor Relations at 1-877-399-1991 or .
Neither the 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.
This news release may contain forward-looking information including but not limited to comments regarding the timing and content of upcoming financings, work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking information includes disclosure regarding possible future events, or conditions or results of operations that is based on assumptions about future economic conditions and courses of action, and therefore, involves inherent risks and uncertainties. Although management has a reasonable basis for the conclusions drawn, actual results may differ materially from those currently anticipated in such statements.
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