Securities Law & Instruments

Headnote

Mutual Reliance Review System for ExemptiveRelief Applications - Issuer granted relief under National Instrument43-101 from the requirement that the author of a technical reportbe a member in good standing of a professional association.

Applicable Ontario Statutory Provision

National Instrument 43-101 Standards of Disclosurefor Mineral Projects.

IN THE MATTER OF

THE SECURITIES LEGISLATIONOF

ONTARIO, NOVA SCOTIA AND ALBERTA

AND

IN THE MATTER OF

THE MUTUAL RELIANCE REVIEWSYSTEM

FOR EXEMPTIVE RELIEF APPLICATIONS

AND

IN THE MATTER OF

JML RESOURCES LTD.

 

MRRS DECISION DOCUMENT

WHEREAS the local securities regulatoryauthority or regulator (the "Decision Maker" and,collectively, the "Decision Makers") in each of Ontario,Nova Scotia And Alberta ("the Jurisdictions") hasreceived an application (the "Application") from JMLResources Ltd. (the "Corporation") for a decisionunder the securities legislation of the Jurisdictions (the "Legislation")that: (1) the Corporation is exempt from the requirement containedin National Instrument 43-101 ("NI 43-101") that theauthor of a technical report or other information upon whichdisclosure of a scientific or technical nature is based be amember in good standing of a professional association in orderfor the author to be considered a "qualified person"as defined in NI 43-101 (the "Membership QualificationRequirement"); and (2) the Corporation is exempt from therequirement contained in the Legislation to pay a fee in connectionwith the Application (the "Application Fee Requirement");

AND WHEREAS under the Mutual RelianceReview System for Exemptive Relief Applications (the "System"),the Ontario Securities Commission is the principal regulatorfor this application;

AND WHEREAS the Corporation representedto the Decision Makers that:

1. The Corporation is a company incorporatedunder the laws of the Province of Ontario.

2. The Corporation's head office is locatedin Toronto, Ontario.

3. The Corporation is a reporting issuer orthe equivalent in each of the Jurisdictions and is not indefault of any requirement of the Legislation.

4. The Corporation's common shares are listedfor trading on the TSX Venture Exchange.

5. The Corporation is a mineral explorationcompany. Its exploration projects are located near North Bay,Ontario.

6. The Corporation has retained Kenneth J.Lapierre as author of the technical reports required to befiled by the Corporation pursuant to NI 43-101 and to prepareinformation upon which the Corporation's disclosure of a scientificor technical nature may be based.

7. Kenneth J. Lapierre is a member of theAssociation of Geoscientists of Ontario ("AGO").AGO was a professional association as defined in NI 43-101until February 1, 2002.

8. AGO is being replaced in Ontario by theAssociation of Professional Geoscientists of Ontario ("APGO").APGO is a professional association as defined in NI 43-101.

9. Kenneth J. Lapierre has applied to becomea member of APGO and would be a "qualified person"as defined in NI 43-101 except only for not yet being a memberin good standing of a "professional association".

AND WHEREAS under the System, this MRRSDecision Document evidences the decision of each Decision Maker(collectively, "the Decision");

AND WHEREAS each of the Decision Makersis satisfied that the test contained in the Legislation thatprovides the Decision Makers with the jurisdiction to make theDecision has been met;

THE DECISION of the Decision Makers underthe Legislation is that the Corporation is exempt from the MembershipQualification Requirement and the Application Fee Requirementin connection with the technical reports or other informationprepared by Kenneth J. Lapierre provided that:

1. Kenneth J. Lapierre complies with allother elements of the definition of "qualified person"in NI 43-101; and

2. the relief granted in this Decision shallterminate on the earlier of: (1) the date Kenneth J. Lapierrebecomes a member of APGO or is advised that his applicationfor membership to APGO has been denied; and (2) May 1, 2003.

February 21, 2003.

"Iva Vranic"