6-K 1 tm0507.txt TUMI RESOURCES N/R MAY 7, 2009 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of MAY 2009. Commission File Number: 0-50244 TUMI RESOURCES LIMITED -------------------------------------------------------------------------------- (Translation of registrant's name into English) #1305 - 1090 West Georgia Street, Vancouver, British Columbia, V6E 3V7, Canada -------------------------------------------------------------------------------- (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: FORM 20-F [X] FORM 40-F [ ] Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): _______ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): _______ Indicate by check mark whether the registrant by furnishing the information contained in this Form, is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. YES [ ] NO [X] If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3- 2(b): 82-_____________ SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf of the undersigned, thereunto duly authorized. TUMI RESOURCES LIMITED ------------------------------------- Date: May 7, 2009 /s/ David Henstridge ------------------------------ ------------------------------------- David Henstridge, President & CEO TUMI RESOURCES LIMITED #1305 - 1090 West Georgia Street Vancouver, BC V6E 3V7 Tel: (604) 699-0202 Fax: (604) 683-1585 Website: www.tumiresources.com TSX Venture Symbol: TM; Frankfurt Exchange: TUY; OTCBB: TUMIF -------------------------------------------------------------------------------- NEWS RELEASE MAY 7, 2009 TUMI RESOURCES LIMITED ANNOUNCES INTENTION TO TERMINATE SECURITIES AND EXCHANGE COMMISSION REPORTING OBLIGATIONS IN THE UNITED STATES VANCOUVER, CANADA - TUMI RESOURCES LIMITED (THE "COMPANY") (TSXV - TM; OTCBB - TUMIF; FRANKFURT - TUY) announces that it has filed a Form 15F with the U.S. Securities and Exchange Commission (the "SEC") with the intention of voluntarily terminating the registration of its common shares under Section 12(g) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Company expects that its termination of registration will be accepted by the SEC on or before 90 days after the date hereof. As a result of this filing, Tumi's reporting obligations with the SEC, including its obligations to file annual reports on Form 20-F, and reports on Form 6-K, will immediately be suspended, and the Company's shares will no longer be quoted on the Over-the-Counter Bulletin Board, however, the Company will continue to be quoted on the Pink Sheets under the symbol "TUMIF". Tumi will continue to comply with its Canadian continuous disclosure obligations by making filings with applicable Canadian securities regulators via the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com. These continuous disclosure filings will include the Company's consolidated financial statements prepared in accordance with Canadian generally accepted accounting principles and other financial related information. This information will also be made available on Tumi's website www.tumiresources.com. Tumi's common shares will continue to trade in Canada on the TSX Venture Exchange (the "TSX-V") under the symbol "TM" and on the Frankfurt Stock Exchange under the symbol "TUY". Tumi is current with all of its reporting requirements under the Exchange Act and is not listed on any U.S. major exchange. In deciding to terminate the registration of its common shares under the Exchange Act, Tumi found that the preparation time and costs associated with preparing U.S. filings and meeting SEC regulatory requirements was substantial and the Company's management believed that these administrative burdens and their associated costs outweighed the benefits derived from the Company's registration with the SEC. On behalf of the Board, COMPANY CONTACT: Mariana Bermudez at (604) 699-0202 /s/ David Henstridge or email: mbermudez@chasemgt.com ----------------------- website: www.tumiresources.com David Henstridge, President & CEO INVESTOR INFORMATION CONTACT: Mining Interactive Nick L. Nicolaas at (604) 657-4058 or email: nick@mininginteractive.com FORWARD LOOKING STATEMENTS This Company Press Release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein. Neither TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

2008 2007 -------------------------------------------- -------------------------------------------- ACQUISITION EXPLORATION ACQUISITION EXPLORATION COSTS EXPENDITURES TOTAL COSTS EXPENDITURES TOTAL $ $ $ $ $ $ Mexico La Trini (a) 586,272 1,382,309 1,968,581 586,272 1,347,777 1,934,049 Sonora (b) 81,305 476,466 557,771 81,305 1,275,330 1,356,635 Sweden Bergslagen (c) 248,329 1,255,740 1,504,069 234,488 834,565 1,069,053 ------------ ------------ ------------ ------------ ------------ ------------ 915,906 3,114,515 4,030,421 902,065 3,457,672 4,359,737 ============ ============ ============ ============ ============ ============

Issued: 2008 2007 ---------------------------- ---------------------------- SHARES AMOUNT SHARES AMOUNT $ $ Balance, beginning of year 27,795,706 13,379,705 25,347,597 11,798,414 ------------ ------------ ------------ ------------ Issued during the year For cash private placement - - 2,100,000 1,512,000 exercise of stock options - - 90,000 45,000 exercise of warrants - - 147,500 118,000 exercise of agent's warrants - - 56,000 44,800 Reallocation from contributed surplus on exercise of options - - - 11,207 Reallocation from contributed surplus on exercise of agent's warrants - - - 21,840 For agent and finder's fees - - 40,790 26,666 For mineral properties - - 13,819 8,706 ------------ ------------ ------------ ------------ - - 2,448,109 1,788,219 Less share issue costs - - - (206,928) ------------ ------------ ------------ ------------ - - 2,448,109 1,581,291 ------------ ------------ ------------ ------------ Balance, end of year 27,795,706 13,379,705 27,795,706 13,379,705 ============ ============ ============ ============

2008 2007 ---------------------------- ---------------------------- WEIGHTED WEIGHTED AVERAGE AVERAGE EXERCISE EXERCISE NUMBER PRICE NUMBER PRICE $ $ Balance, beginning of year 4,801,893 0.82 3,804,998 0.80 Issued - - 1,200,395 0.90 Exercised - - (203,500) 0.80 Expired (4,801,893) 0.82 - - ------------ ------------ Balance, end of year - - 4,801,893 0.82 ============ ============

2008 2007 ---------------------------- ---------------------------- WEIGHTED WEIGHTED AVERAGE AVERAGE OPTIONS EXERCISE OPTIONS EXERCISE OUTSTANDING PRICE OUTSTANDING PRICE $ $ Balance, beginning of year 2,355,000 0.56 2,260,000 0.51 Granted 1,121,600 0.47 435,000 0.77 Exercised - - (90,000) 0.50 Expired (974,100) 0.47 (250,000) 0.52 Forfeited (22,500) 0.50 - - ------------ ------------ Balance, end of year 2,480,000 0.56 2,355,000 0.56 ============ ============

2008 2007 $ $ Combined federal and provincial income tax rate 30.97% 34.12% ============ ============ Expected income tax recovery (713,900) (250,000) Effect of income tax rate changes 95,700 - Foreign income tax rate differences (6,800) 3,400 Deductible mineral resource interests cost additions (110,000) (100,100) Non-deductible stock-based compensation 73,200 74,400 Write-off of mineral resource interests 509,700 14,300 Unrecognized benefit of income tax losses 193,300 327,200 Other (41,200) (69,200) ------------ ------------ Actual income tax recovery - - ============ ============

2008 ---------------------------------------------------------------------------- CANADA MEXICO PERU SWEDEN TOTAL $ $ $ $ $ Current assets 438,858 59,229 - 26,447 524,534 Property and equipment - 45,585 102,945 24,586 173,116 Mineral resource interests - 2,526,352 - 1,504,069 4,030,421 Other assets - - - 14,908 14,908 ------------ ------------ ------------ ------------ ------------ 438,858 2,631,166 102,945 1,570,010 4,742,979 ============ ============ ============ ============ ============

2007 ---------------------------------------------------------------------------- CANADA MEXICO PERU SWEDEN TOTAL $ $ $ $ $ Current assets 1,951,025 145,983 - 148,151 2,245,159 Property and equipment 7,353 51,165 109,589 33,200 201,307 Mineral resource interests - 3,290,684 - 1,069,053 4,359,737 Other assets - - - 6,742 6,742 ------------ ------------ ------------ ------------ ------------ 1,958,378 3,487,832 109,589 1,257,146 6,812,945 ============ ============ ============ ============ ============

MEXICAN SWEDISH CDN $ PESOS KRONA EQUIVALENT Cash 97,666 39,518 14,756 Amounts receivable 573,733 109,701 67,628 Accounts payable and accrued liabilities (102,778) (205,051) (40,926) ------------ ------------ ------------ 568,621 (55,832) 41,458 ============ ============ ============

------------------------------------------------------------ ------------ 2008 2007 ------------------------------------------------------------ ------------ MEXICO SWEDEN ---------------------------- ------------ LA BERGSLAGEN TRINI SONORA DISTRICT TOTAL TOTAL $ $ $ $ $ BALANCE - BEGINNING OF YEAR 1,934,049 1,356,635 1,069,053 4,359,737 2,368,283 ------------ ------------ ------------ ------------ ------------ COSTS INCURRED DURING YEAR EXPLORATION Airborne survey - - 100,862 100,862 95,005 Amortization - 17,155 9,979 27,134 27,528 Assays 1,553 10,745 22,153 34,451 69,750 Assay preparation - 9,077 - 9,077 20,315 Camp costs - 11,609 - 11,609 38,924 Consulting 2,017 99,743 50,857 152,617 121,636 Database - - 1,208 1,208 1,535 Drilling - - 234,780 234,780 434,562 Equipment rental - - 8,126 8,126 25,305 Exploration site costs 3,218 97,958 22,400 123,576 114,076 Field workers - 19,352 - 19,352 43,461 Fuel - 24,774 - 24,774 39,415 Geochemical - - - - 4,519 Geological 5,480 9,199 27,245 41,924 109,141 Geophysics - - - - 20,825 Maps - - 1,502 1,502 7,157 Property holding costs 7,087 65,612 - 72,699 129,766 Repair and maintenance - - - - 17,909 Salaries and benefits 15,177 203,352 187,962 406,491 424,904 Travel - 3,713 28,616 32,329 39,471 ------------ ------------ ------------ ------------ ------------ 34,532 572,289 695,690 1,302,511 1,785,204 ------------ ------------ ------------ ------------ ------------ ACQUISITION Cash payments - - - - 229,399 Issuance of shares - - - - 8,706 Staking and related costs - - 13,841 13,841 10,041 ------------ ------------ ------------ ------------ ------------ - - 13,841 13,841 248,146 ------------ ------------ ------------ ------------ ------------ 34,532 572,289 709,531 1,316,352 2,033,350 ------------ ------------ ------------ ------------ ------------ BALANCE BEFORE WRITE-OFFS 1,968,581 1,928,924 1,778,584 5,676,089 4,401,633 WRITE-OFFS - (1,371,153) (274,515) (1,645,668) (41,896) ------------ ------------ ------------ ------------ ------------ BALANCE - END OF YEAR 1,968,581 557,771 1,504,069 4,030,421 4,359,737 ============ ============ ============ ============ ============

--------------------------------------------------------------------------------------------- CATEGORY AG CUT-OFF TONNES AVG. GRADE AVG. GRADE TROY OUNCES TROY OUNCES (G/T) AG (G/T) AU (G/T) AG/SHORT TON AU/SHORT TON --------------------------------------------------------------------------------------------- Indicated 30 1,661,359 121.3 0.88 3.54 0.026 --------------------------------------------------------------------------------------------- Inferred 30 192,880 98.6 0.92 2.88 0.027 ---------------------------------------------------------------------------------------------

------------------------------------------------- ------------------------------------------------- FISCAL 2008 FISCAL 2007 ------------------------------------------------- ------------------------------------------------- DEC 31 SEP 30 JUN 30 MAR 31 DEC 31 SEP 30 JUN 30 MAR 31 $ $ $ $ $ $ $ $ ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- OPERATIONS: Revenues Nil Nil Nil Nil Nil Nil Nil Nil Expenses (132,863) (96,154) (305,451) (153,953) (47,793) (140,330) (368,803) (139,439) Other items (1,542,626) (131,692) 30,199 27,546 (12,372) (27,332) (25,632) 28,867 Net loss (1,675,489) (227,846) (275,252) (126,407) (60,165) (167,662) (394,435) (110,572) Basic and diluted loss per share (0.06) (0.00) (0.01) (0.00) (0.00) (0.01) (0.02) (0.00) Dividends per share Nil Nil Nil Nil Nil Nil Nil Nil BALANCE SHEET: Working capital 284,862 658,737 1,082,202 1,587,291 2,004,219 1,271,278 1,747,299 2,114,412 Total assets 4,742,979 6,281,660 6,518,231 6,632,655 6,812,945 5,330,701 5,467,158 5,664,477 Total long-term liabilities Nil Nil Nil Nil Nil Nil Nil Nil ------------------------------------------------- -------------------------------------------------

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