For Immediate Release
April 23, 2010 

Canadian regulators seek comment on proposed changes to national mining rule

Vancouver – The Canadian Securities Administrators (CSA) today published proposals to update the rules that govern disclosure by mining companies. 

The CSA is seeking comment by July 23, 2010 on its proposal to repeal and replace National Instrument 43-101 Standards of Disclosure for Mineral Projects, Form 43-101F1 Technical Report, and Companion Policy 43-101CP. The CSA is specifically seeking comment on whether to keep, modify or eliminate the short form prospectus trigger for technical reports. Anyone interested in providing feedback will find full information about the proposed amendments, the discussion issues, and how to submit comments in the Notice and Request for Comment released today. 

“We have received a great deal of feedback from market participants on the challenges the current mining disclosure rules pose to their operations,” said Jean St-Gelais, Chair of the CSA and President & Chief Executive Officer of the Autorité des marchés financiers (Québec). “The proposed changes reflect our analysis of the results of these consultations and the experience of our mining professionals with the existing rule. We believe the proposed changes will provide cost savings and efficiencies to mining companies without compromising investor protection.” 

These are the first proposed major changes to NI 43-101 since it went into effect in 2001.

The proposed amendments to NI 43-101 aim, among other things, to increase flexibility in some areas and eliminate or reduce the scope of certain requirements while maintaining investor protection. 

Copies of the proposed rule amendments and additional background information are available on the websites of CSA members. 

The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets. 

For more information: 

Robert Merrick
Ontario Securities Commission
416-593-2315

Sylvain Théberge
Autorité des marchés financiers
514-940-2176

Mark Dickey
Alberta Securities Commission
403-297-4481

Brenda Lea Brown
British Columbia Securities Commission
604-899-6554

Ainsley Cunningham
Manitoba Securities Commission
204-945-4733

Wendy Connors-Beckett
New Brunswick Securities Commission
506-643-7745

Natalie MacLellan
Nova Scotia Securities Commission
902-424-8586

Barbara Shourounis
Saskatchewan Financial Services Commission
306-787-5842

Janice Callbeck
PEI Securities Office
Office of the Attorney General
902-368-6288

Doug Connolly
Financial Services Regulation Division
Newfoundland and Labrador
709-729-2594

Fred Pretorius
Yukon Securities Registry
867-667-5225

Louis Arki
Nunavut Securities Office
867-975-6587

Donn MacDougall
Northwest Territories
Securities Office
867-920-8984