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Proposed National Instrument 43-101 consolidates and expands on the current disclosure and reporting requirements for mineral exploration and development and mining properties. The proposed document establishes standards for all oral and written disclosure concerning mineral exploration and development and mining properties made by or on behalf of an issuer and reasonably likely to be made available to the public. Proposed Companion Policy 43-101CP sets forth the views of the CSA as to the manner in which the proposed National Instrument is to be interpreted and applied.
The Proposed National Instrument originated with the reformulation of National Policy Statements 2-A, "Guide For Engineers, Geologists and Prospectors Submitting Reports on Mining Properties to Canadian Provincial Securities Administrators", and 22, "Use of Information and Opinion Re Mining and Oil Properties by Registrants and Others". It is expected to be adopted as a rule in British Columbia, Alberta, Manitoba, Nova Scotia, and Ontario, as a Commission regulation in Saskatchewan, and as a policy in all other CSA jurisdictions.
The proposed National Instrument, Forms and Companion Policy are initiatives of the CSA. The proposed National Instrument is expected to be adopted as a rule in British Columbia, Alberta, Manitoba, Ontario and Nova Scotia, as a Commission Regulation in Saskatchewan and as a Policy in all other jurisdictions represented by the CSA, other than Quebec. The proposed Forms will be adopted as rules in Ontario. The proposed Companion Policy is expected to be implemented as a policy in all of the jurisdictions of the CSA.