Changes to National Instrument 43-101 Standards of Disclosure for Mineral Projects

Originally published in the Natural Resources Bulletin

National Instrument 43-101 "Standards of Disclosure for Mineral Projects" ("NI 43-101" or "Rule") and its Companion Policy ("CP 43-101") have been in effect since February 1, 2001. NI 43-101 replaced NP 2-A "Guide for Engineers, Geologists and Prospectors Submitting Reports on Mining Properties to Canadian Provincial Securities Administrators". The Rule:

• establishes standards for all oral and written disclosure made by an issuer concerning mineral projects and requires that all disclosure be based on information prepared by or under the supervision of a "qualified person";

• requires that disclosure of mineral resources and mineral reserves be made in accordance with industry standard definitions approved by the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") unless otherwise provided for in the Rule; and