True Gold Receives Environmental Permit for Karma Project
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 09/20/13 -- True Gold Mining Inc. (TSX VENTURE: TGM) ("True Gold" or the "Company") is pleased to report that the Company has received an Environmental Permit from the Burkina Faso Ministry of Environment and Sustainable Development for development of the Goulagou I, Goulagou II and Rambo deposits at the Company's flagship Karma Gold Project ("Karma Project").
The receipt of final environmental approval advances True Gold's application for an exploitation permit for the deposits. Exploitation (mining) permits are the next and final approvals required before development and production can begin. Exploitation permits are typically granted approximately two months after receipt of environmental permits.
As permitting advances, True Gold is moving forward with optimizing mine engineering, site preparation, evaluating and pricing longer-lead capital cost items, and finalizing capital and operating cost estimates(1) as part of the ongoing Feasibility Study.
"Our goal is to have the operating permit and completed Karma Project Feasibility Study in hand by the end of the year," said Dwayne Melrose, President & CEO, True Gold.
Peter C. Carter, P. Eng., Chief Operating Officer and Vice President Engineering of the Company, is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and verified that the technical information contained in this release is accurate and approves of the written disclosure of same.
(1) The Company has not made a production decision and the Company's strategic plan to develop a stand-alone heap leach operation is subject to the results of its Feasibility Study, which is currently underway. Further, if and when the Company makes any production decision, it will disclose the basis of such decision in accordance with the requirements of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").
About True Gold
True Gold Mining Inc. is where gold comes to life. We are committed to growing a successful gold exploration, development and production company, by focusing on projects with low costs, low technical risks and solid economics. The Company's board, management and technical teams have proven track records in gold exploration, development, operations and production worldwide.
Additional information about the Company and its activities may be found on the Company's website at and under the Company's profile at .
ON BEHALF OF THE BOARD
"Dwayne Melrose"
Dwayne Melrose, President & CEO
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.
Certain statements made and information contained in this news release and elsewhere constitutes "forward-looking information" within the meaning of Canadian securities legislation. Such forward-looking statements are based on certain assumptions and are subject to risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, with respect to statements regarding, the potential to growing a successful gold exploration, development and production company, ability to find projects with low costs, low technical risks and solid economics, expectations for receipt of all required permits and approvals to develop the Karma Project, the possibility that development results or the results of the Feasibility Study on the Karma Project will not be consistent with the Company's expectations, accidents, the assumptions set forth in this news release and risks and uncertainties relating to equipment breakdowns, risk of undiscovered, title defects and surface access, labour disputes, the potential for delays in exploration and permitting activities, the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, political risk and other risks and uncertainties, including those described under Risk Factors in each management discussion and analysis and in the Company's annual information form which are available under the Company's profile at . Forward-looking information is based on various assumptions including, without limitation, the expectations and beliefs of management, the assumed long term price of gold, that the Company will receive required permits and access to surface rights, that the Company can access financing, appropriate equipment and sufficient labour and that the political environment within Burkina Faso will continue to support the development of environmentally safe mining projects. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
Contacts:
Vancouver Office:
604-801-5020
Investor inquiries:
Alex Holmes
604-697-4958
Media inquiries:
Ian Noble
604-809-8750
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Unternehmensinformation / Kurzprofil:
Datum: 20.09.2013 - 11:56 Uhr
Sprache: Deutsch
News-ID 298678
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contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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