U.S. Markets close in 25 mins

SRG Receives Environmental Conformity Certificate for Lola Graphite Project

Mining License Application Filed with the Government of Guinea

MONTREAL , April 2, 2019 /CNW Telbec/ - SRG Graphite Inc. (SRG.V) ("SRG" or the "Company") is pleased to report that the Company has received its Environmental Conformity Certificate from the government of Guinea for its Lola graphite project. This certificate is the only environmental and social permit required to move forward with the construction of the project. With this certificate in hand, the Company is now in position to file for its mining license, another crucial permit required for construction. 

"We are very pleased with the speed, thoughtfulness, and dedication of the government counterparty in their approval process," said Mr. David Vilder , CSR Manager for SRG. "Our team, consultants, the local community, and all levels of government worked together to produce a high-quality environmental and social impact assessment. The approved environmental action plan produced meets the needs of the local communities and respects the natural environment surrounding the project."

SRG worked with Montreal -based EEM Sustainable Management ("EEM") and Guinean firms Sylvatrop Consulting, a bio-diversity expert, and Guinée Environment Services to produce a study which meets Guinea's standards and the International Finance Corporation's ("IFC") 2012 edition of the Environmental and Social Performance Standards.

The Company is partnering with Giovannetti Consultant ("GC") to develop its resettlement action plan ("RAP"), which will also follow IFC's 2012 edition of the Performance Standards, namely PS5 pertaining to land acquisition and resettlement. While only 150 economic relocations and 6 physical relocations are expected, a well-detailed RAP is required to ensure best practices are followed. Frederic Giovannetti , founder of GC, brings over 38 years of relevant experience and has recently led the preparation of the new IFC Resettlement Handbook to be published in 2019.

With the Environmental Conformity Certificate in hand, the Company now has all the required documents to apply for a mining license from the Ministry of Mines. The Company filed its mining license application on April 1, 2019 .

ABOUT EEM SUSTAINABLE MANAGEMENT

EEM is an independent consultancy company, helping clients assess, manage, and improve their environmental performance and social impacts. The company strives to develop and implement workable solutions for all concerned – at project sites, across businesses, and in local communities.

ABOUT SRG

SRG is a Canadian-based company focused on developing mineral deposits located in the Republic of Guinea , West Africa . SRG is committed to operating in a socially, environmentally, and ethically responsible manner.

For additional information, please visit SRG's website at www.srggraphite.com

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This press release contains "forward-looking information" within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as "expected", "ensure", "opportunity", "demonstrate", or variations of such words and phrases or state that certain actions, events or results "will", "may", "could", "would" or "might". 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 but not limited to: (i) volatile stock price; (ii) the general global markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk associated with exploration, development and operations of mineral deposits; (v) the risk associated with establishing title to mineral properties and assets; (vi) fluctuations in commodity prices and other risks and factors described or referred to in the section entitled "Risk Factors" in the MD&A of the Company and which is available at www.sedar.com, all of which should be reviewed in conjunction with the information found in this news release.

Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities and no material adverse change in mineral prices. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the 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 forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company's business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is given as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.

 

SOURCE SRG Graphite


View original content: http://www.newswire.ca/en/releases/archive/April2019/02/c6926.html