TORONTO, April 05, 2021 (GLOBE NEWSWIRE) — Euro Sun Mining Inc. (TSX: ESM) (“Euro Sun” or the “Company”) is pleased to announce it has filed a request to initiate the Strategic Environmental Assessment (“SEA”) for the Rovina Valley Project with the Environmental Protection Agency in Hunedoara County, Romania. The notice of filing was published in the MESAGERUL HUNEDOREAN as required under the legislation and will also be published again on April 8th, 2021.
The contents of the public announcement made by Euro Sun’s 100% owned subsidiary in Romania are translated below:
S.C. SAMAX România S.R.L. with headquarters in Crișcior, 146 Calea Zarandului, postal code 337200, Hunedoara county, announces the completion of the first version of PUZ – Industrial Zone for the investments; Development of the Rovina mining project within the exploitation license area; and triggering of the screening phase for obtaining the environmental license.
The first version of the plan can be consulted at the Hunedoara EPA headquarters, in Deva City, 25 Aurel Vlaicu street, post code 330007, Hunedoara county, every day from Monday to Thursday from 8:00 H. to 16.30 H. and on Friday from 8:00 H to 14:30 H, as well as on Hunedoara EPA’s website: http://apmhd.anpm.ro/web/apm-hunedoara/acasa. The comments and suggestions shall be sent in writing to Hunedoara EPA’s headquarters, within 18 calendar days since this announcement appeared.
Scott Moore, Euro Sun’s CEO states, “We are pleased to initiate the SEA process with the Hunedoara County environmental protection agency. Our definitive feasibility study has outlined a generational asset that brings both the highest environmental stewardship with significant economic benefits directly to our local communities and to the County of Hunedoara as a whole. We look forward to building a stronger relationship with all of the authorities through this phase of the permit process.”
The SEA process builds on the Environmental Impact Assessment (“EIA”) approved under the Exploitation License issued by the Romanian Government on November 9th, 2018 augmented by seventeen new or updated environmental studies on the project as required by Romanian or European regulations. These studies include such items as Air Quality, Noise, Traffic and various flora and fauna baseline studies.
The SEA process will also involve obtaining the opinions or approvals of fourteen administrative bodies. Representative agencies include the Army General Headquarters, Hunedoara County Police Inspectorate, Banat Electrical Supply Company, local and county roads administrators amongst others.
Public consultations are required under the SEA process and we intend to hold such as directed by the EPA of Hunedoara county in a timely manner but expected to occur in Q3.
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.
For further information about Euro Sun Mining, or the contents of this press release, please contact Investor Relations at [email protected]
Caution regarding forward-looking information:
This press release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding the Company’s estimates, expectations, forecasts and guidance for production, all-in sustaining cost, capital expenditures, cost savings, project economics (including net present value) and other information contained in the feasibility study; as well as references to other possible events, the future price of gold and copper, the estimation of mineral reserves and mineral resources, the realization of mineral reserve and mineral resource estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of the project and mining and processing activities, requirements for additional capital, government regulation of mining operations, and environmental risks.
Investors are cautioned that forward-looking information is not based on historical facts but instead reflect management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. This forward-looking information may be affected by risks and uncertainties in the combined business of the Company and market conditions, including (1) there being no significant disruptions affecting the Company’s operations whether due to extreme weather events and other or related natural disasters, labor disruptions, supply disruptions, power disruptions, damage to equipment or otherwise; (2) permitting, development, operations and production for the Rovina Valley Project being consistent with the Company’s expectations; (3) political and legal developments Romania being consistent with current expectations; (4) certain price assumptions for gold and copper; (5) prices for diesel, electricity and other key supplies being approximately consistent with current levels; (6) the accuracy of the Company’s mineral reserve and mineral resource estimates; and (7) labor and materials costs increasing on a basis consistent with the Company’s current expectations. This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company with the Canadian securities regulators, including the Company’s annual information form, financial statements and related MD&A for the financial year ended December 31, 2020 filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
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