TORONTO, July 21, 2021 (GLOBE NEWSWIRE) --
Euro Sun Mining Inc. (TSX: ESM) (“Euro Sun” or the “Company”) is pleased to confirm that following the approval of the Avizul de Oportunitate received on June 15, 2021 allowing the Company to proceed to the next stage of permitting for the Rovina Valley Project. The Company has officially filed the Planul Urbanistic Zonal (“
PUZ”) or Certificate of Urbanism for Land with the County of Hunedoara, Romania and the working group established for the Strategic Environmental Assessment (“
SEA”). The PUZ or re-zoning process takes the existing pastoral and forest lands within the project footprint and re-zones the required area for industrial activity.
The SEA with the Environmental Protection Agency of Hunedoara County (“
EPA”) is the environmental opinion on the PUZ. The EPA continues to receive the agreements and/or opinions from all the administrative authorities for the environmental opinion on the PUZ.
Scott Moore, Euro Sun’s CEO, states,
“The PUZ process is well defined and normal for any building project in Romania from a grocery store to a mine. We are very encouraged by the continued positive dialogue with the Hunedoara County Council and other government agencies as we enter these advanced stages of permitting and setting the stage for construction activities to begin.” Over three consecutive weekends beginning June 26, the Company held eleven town-hall style information sessions in all the communities in and around the Rovina Valley Project. Organized by Euro Sun employees and supported by our lead environmental and social management consultants, ERM, our people provided clear and transparent disclosure on all aspects of the project, from not utilizing cyanide, to not having any wet tailings, to adding 300% of the forests affected by the project prior to re-planting virtually all of our disturbed areas over the life of the mine. The technical design of the project was clearly communicated as well as the economic benefits through significant job creation. The participation of the Romanian State was communicated as well through an explanation of the royalty rates under the National Mining Law; of which a significant portion of those royalties ensure directly to our local communities.
Scott Moore, also stated,
“We would like to thank all the participants for attending our information sessions as we strive to ensure total transparency of the Rovina Valley Project and its benefits to all of our local stakeholders.” About Euro Sun Mining Inc. Euro Sun Mining is a Toronto Stock Exchange listed company focused on unlocking value through the responsible development of the Rovina Valley Project, one of Europe’s largest gold copper projects. Euro Sun Mining has clear Environmental, Social and Governance commitments that are aligned with internationally recognized standards and goals.
For further information about Euro Sun Mining, or the contents of this press release, please contact Investor Relations at
info@eurosunmining.com 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.