National Instrument
43-101 (NI 43-101) is a rule developed by the Canadian Securities
Administrators (CSA) and administered by the provincial securities
commissions that govern how issuers disclose scientific and technical
information about their mineral projects to the public. It covers
oral statements as well as written documents and websites. It requires
that all disclosure be based on advice by a "qualified person" and
in some circumstances that the person be independent of the issuer
and the property.
A qualified person (QP) as defined in NI 43-101 as an individual who:
a) is an engineer or geoscientist with at least five years of experience
in mineral exploration, mine development or operation or mineral
project assessment, or any combination of these;
b) has experience relevant to the subject matter of the mineral
project and the technical report; and
c) is a member in good standing of a professional association.
NI 43-101, together with its Companion Policy 43-101CP and Form 43-101F1
Technical Report can be downloaded from the Canadian
Council of Professional Geoscientists website.
NOTE: Members are reminded that NI 43-101 is currently under revision.
Many organizations, including APGO, have submitted comments and suggestions
for consideration.
The definitions of resources and reserves approved by the Canadian
Institute of Mining, Metallurgy and Petrolum and adopted by NI 43-101
are available from the Standards
and Guidelines section of the CIM website.
Frequently Asked Questions (FAQ's) on NI 43-101, originally released
October 19, 2001 and updated January 24, 2003 to include a clarification
on the status of Ontario Geoscientists, can be downloaded below:
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