November 15, 2004
Number: 07-04
KNIGHT COMMENCES LITIGATION AGAINST NOVAWEST
VANCOUVER (November 15, 2004) – Mr. David Patterson, Chief Executive Officer of Knight Resources Ltd. (the “Company”), reports that on November 12, 2004 the Company commenced litigation (the ‘Knight Action’) in the Supreme Court of British Columbia against Novawest Resources Inc., (‘Novawest’) and Brian F. Adams, Jerry W. Dibble, Patrick D. O’Brien and Peter W. Short (the ‘Personal Defendants’), all directors and officers of Novawest.
The Knight Action alleges that Novawest, at the behest of the Personal Defendants, filed a Statement of Claim in the Vancouver Registry of the British Columbia Supreme Court under Action No. S042230 on April 21, 2004 (the ‘Novawest Action’) with the purpose, among other things, of causing injury to the Company. The Company is not a defendant in the Novawest Action, but is party to an Option and Joint Venture Agreement with the primary defendant in the Novawest Action, Anglo American Exploration (Canada) Ltd., with respect to the property that is the subject of the Novawest Action. That property is referred to by the Company as the West Raglan Project.
The Knight Action also alleges that at all material times Novawest and the Personal Defendants knew or ought to have known that all allegations contained in the Novawest Action and an April 21, 2004 Novawest News Release were misrepresentations. Those misrepresentations were made by Novawest, at the behest of the Personal Defendants, with the intention of depressing the value of the Company’s shares generally and the amount of funds the Company can raise through the sale of treasury shares.
The Statement of Claim filed by the Company alleges the actions of Novawest and the Personal Defendants amount to 1) Interference with Economic Interests; 2) Abuse of Process; 3) Civil Conspiracy; and 4) Injurious Falsehood. A Statement of Claim that sets out in more detail the allegations in the lawsuit has been filed in the Vancouver Registry of the British Columbia Supreme Court under Action No. S046306.
ON BEHALF OF THE BOARD OF
KNIGHT RESOURCES LTD.
“David Patterson”
Chief Executive Officer
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's registration statement on Form 20-F filing with the United States Securities Commission and its home jurisdiction filings that are available at www.sedar.com
3rd Floor, 157 Alexander Street Vancouver • BC • Canada • V6A 1B8 Tel: (604) 684-6535 • Fax: (604) 602-9311 Toll Free: 1-877-KNIGHT5 (564-4485) Web Site:http://www.knightresources.ca E-mail:knight@bed-rock.com TSX Venture Exchange Trading Symbol: KNP Frankfurt Stock Exchange Trading Symbol: KRL
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE |
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