TORONTO, Nov. 16, 2018 (GLOBE NEWSWIRE) -- Euro Sun Mining Inc. (ESM.TO) (“Euro Sun” or the “Company”) is pleased to announce that its mining license for the Rovina Valley Project has now been published in the Official Monitor of the Romanian Government.1
Official Gazette no. 0970 of 2018
Act no. 900 of 09 November 2018
Issuer: Government of Romania
Decision regarding the approval of the Concession License no. 18.174 / 2015 of the mining activity of copper ore containing gold in the Rovina perimeter, Hunedoara County, concluded between the National Agency for Mineral Resources and SAMAX ROMANIA SRL (unofficial translation)
Through publication in the Official Monitor, the mining license is now legally granted by Romanian law to Euro Sun’s 100% owned subsidiary, SAMAX Romania SRL, and concludes the ratification process of its exploitation permit and mining license. The mining license is granted for 20 years and can be renewed in five-year increments.
G. Scott Moore, President and CEO stated: “Once again we would like to thank the National Agency for Mineral Resources for their support of this important project for Euro Sun and for Romania. We are focused on moving this project forward as quickly as possible to the benefit of all stakeholders.”
1.Monitorul Oficial nr. 0970 din 2018
Actul nr. 900 din 09 Noiembrie 2018
Emitent: Guvernul României
Hotărâre privind aprobarea Licenței de concesiune nr. 18.174/2015 a activității miniere de exploatare a minereului de cupru cu conținut de aur în perimetrul Rovina, județul Hunedoara, încheiată între Agenția Națională pentru Resurse Minerale și Societatea Comercială SAMAX ROMÂNIA - S.R.L.
About The Rovina Valley Project
The Rovina Valley Project is one of the largest mineral deposits in the European Union and consists of three porphyry deposits: Colnic and Rovina, two at surface deposits and Ciresta, an underground deposit. The Rovina Valley Project hosts measured and indicated mineral resources of 7.2 million ounces of gold and 1.4 billion pounds of copper in 406 million tonnes at 0.55 gold grams per tonne and 0.16% of contained copper.
The scientific and technical information pertaining to the metallurgical studies presented in this press release has been reviewed and approved by Randall Ruff, Vice President Exploration for Euro Sun, who is a Qualified Persons as defined by National Instrument 43-101.
About Euro Sun Mining Inc.
Euro Sun is a Toronto Stock Exchange listed mining company focused on the exploration and development of its 100%-owned Rovina Valley gold and copper project located in west-central Romania, which hosts the second largest gold deposit in Europe.
Investor Relations at +1 416.309.4299.
Caution regarding forward-looking information: This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation, including statements regarding publication of the Euro Sun mining license in the official monitor of the Government of Romania; and the timetable to advance the development of the Rovina Valley Project. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR at www.sedar.com and on the Company's website at www.eurosunmining.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
The TSX does not accept responsibility for the adequacy or accuracy of this news release.