Specific disclosure requirements for mining and oil and gas companies

Disclosure included in a prospectus about a mineral project must be supported by a technical report when required by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

For example, a company must ensure that all disclosure of scientific or technical information concerning a mineral project on a property material to the company is based on information prepared by or under the supervision of a qualified person.

When a company discloses technical information about a mineral project on a property material to the company, it may also be required to file a technical report to support that information. These details are outlined in Form 43-101F1 Technical Report.

Issuers in the mining sector must also provide disclosure about mineral projects that support the disclosure in their NI 43-101 technical reports. Issuers are asked to enhance the disclosure in the prospectus when:

• there are inconsistencies between the disclosure in the prospectus and the recommended work plan in the technical report
• there is insufficient disclosure in the prospectus to support the disclosure in the technical report

For more information, please refer to Companion Policy 43-101CP Standards of Disclosure for Mineral Projects.

Companies engaged in oil and gas activities must comply with the disclosure requirements in National Instrument 51-101 Standards of Disclosure for Oil & Gas Activities (NI 51-101). The requirements under NI 51-101, and its related forms, supplement continuous disclosure requirements in securities legislation that apply to all reporting issuers. The requirements under NI 51-101 are designed in part to assist capital market participants in making investment decisions and recommendations related to oil and gas issuers. For more information, please refer to Companion Policy 51-101CP Standards of Disclosure for Oil and Gas Activities.