Cease Trade Order
Industrial Minerals, Inc.
Section 164 of the Securities Act, R.S.B.C. 1996, c. 418
1 Industrial Minerals, Inc. (Industrial Minerals) is an OTC reporting issuer under
BC Instrument 51-509 Issuers Quoted in the U.S. Over-the-Counter Markets.
2 In its news release dated November 21, 2007, Industrial Minerals announced, for
the first time, a mineral resource estimate and the results of a preliminary
assessment on its Bissett Creek property in Ontario.
3 On or about June 15, 2009, Industrial Minerals filed on SEDAR, its annual
information form (AIF) in Form 10-K.
4 Industrial Minerals has not filed a technical report in the required form to support
its disclosure of the mineral resource estimate and the results of the preliminary
assessment on the Bissett Creek property, as required by s.4.2(1)(j) of National
Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101).
5 Industrial Minerals has not filed a technical report to support material scientific
and technical information, concerning the Bissett Creek property, disclosed in the
AIF, as required by s.4.2(1)(f) of NI 43-101.
6 Industrial Minerals has not filed its AIF in the required form because it omits
material information about the Bissett Creek property, including the mineral
resource estimate, results of the preliminary assessment, and details of Industrial
Minerals plans to develop the Bissett Creek property.
7 Under section 164(1) of the Act, the Executive Director orders that all trading in
the securities of Industrial Minerals cease until:
1. it files a technical report in the required form for its Bissett Creek property,
2. it files an amended AIF, completed in accordance with the Act and rules,
and
3. the Executive Director makes an order under section 171 of the Act
revoking this order.
8 August 18, 2009
Robert Holland, P.Geo
Chief Mining Advisor
Corporate Finance
Industrial Minerals, Inc.
Section 164 of the Securities Act, R.S.B.C. 1996, c. 418
1 Industrial Minerals, Inc. (Industrial Minerals) is an OTC reporting issuer under
BC Instrument 51-509 Issuers Quoted in the U.S. Over-the-Counter Markets.
2 In its news release dated November 21, 2007, Industrial Minerals announced, for
the first time, a mineral resource estimate and the results of a preliminary
assessment on its Bissett Creek property in Ontario.
3 On or about June 15, 2009, Industrial Minerals filed on SEDAR, its annual
information form (AIF) in Form 10-K.
4 Industrial Minerals has not filed a technical report in the required form to support
its disclosure of the mineral resource estimate and the results of the preliminary
assessment on the Bissett Creek property, as required by s.4.2(1)(j) of National
Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101).
5 Industrial Minerals has not filed a technical report to support material scientific
and technical information, concerning the Bissett Creek property, disclosed in the
AIF, as required by s.4.2(1)(f) of NI 43-101.
6 Industrial Minerals has not filed its AIF in the required form because it omits
material information about the Bissett Creek property, including the mineral
resource estimate, results of the preliminary assessment, and details of Industrial
Minerals plans to develop the Bissett Creek property.
7 Under section 164(1) of the Act, the Executive Director orders that all trading in
the securities of Industrial Minerals cease until:
1. it files a technical report in the required form for its Bissett Creek property,
2. it files an amended AIF, completed in accordance with the Act and rules,
and
3. the Executive Director makes an order under section 171 of the Act
revoking this order.
8 August 18, 2009
Robert Holland, P.Geo
Chief Mining Advisor
Corporate Finance