Stock Symbol: SGF: TSX
SASKATOON, Aug. 14, 2013 /CNW/ - George H. Read, P. Geo., Senior Vice
President Exploration and Development of Shore Gold Inc. ("Shore" or
the "Company") is pleased to announce that the Canadian Environmental
Assessment Agency ("CEAA" or the "Agency") has prepared the
Environmental Effects Summary document, which is now available for
public review and comment for a period of thirty days. CEAA is the lead
agency for the Federal government and Saskatchewan Ministry of
Environment ("Ministry") is the lead agency on behalf of the Province,
which are jointly conducting the environmental assessment of the
proposed Star - Orion South Diamond Project ("Project").
The Environment Effects Summary is based on conclusions presented in
Shore's Revised Environmental Impact Statement ("EIS") and on
supplemental information submitted to the Agency in April and July
2013. Within these documents, Shore proposes to construct, operate and
eventually decommission the Project, a diamond mining and processing
facility to be developed within the Fort à la Corne Provincial Forest.
The Project is located approximately 60 kilometres east of Prince
Albert, Saskatchewan. The Project includes a four-year construction
period followed by the excavation of two open-pit mines and processing
of approximately 45,000 tonnes of kimberlite rock per day over a
projected 20-year period. Shore's plans for decommissioning include
progressive reclamation activities beginning within five years from the
start of construction and will continue beyond the operations phase of
the Project.
The Agency invites the public to comment on the potential environmental
effects of the Project and the proposed measures to prevent or mitigate
those effects as described in the Environmental Effects Summary. The
preparation of the Environmental Effects Summary and public comment
period are part of the Federal Comprehensive study type environmental
assessment of the Project. The Agency announcement and a link to the
Environmental Effects summary document are available on the CEAA
website at: http://www.ceaa-acee.gc.ca/050/documents-eng.cfm?evaluation=46277&type=2.
Senior Vice President Exploration and Development, George Read, states:
"Subsequent to this period of public comment, the Agency will prepare
the Comprehensive Study Report ("CSR"), with input from the public,
Federal departments and Aboriginal groups. The CSR will outline the
Agency's conclusions regarding the potential environmental effects of
the project, the proposed mitigation measures and the significance of
the remaining adverse environmental effects. The CSR will also be made
available for public comment, after which the Minister of Environment
will take into consideration the CSR and all comments received and will
issue her environmental assessment decision statement, stating whether
the Project is likely to cause significant environmental effects, and
if those effects are justified, accounting for the mitigation measures
and follow-up program as presented in the CSR."
The Executive Summary of the Revised EIS can be viewed on the company's
website: www.shoregold.com.
Shore is a Canadian based corporation engaged in the acquisition,
exploration and development of mineral properties. Shares of the
Company trade on the TSX Exchange under the trading symbol "SGF".
Caution Regarding Forward-Looking Statements
This news release contains forward-looking statements as defined by
certain securities laws, including the "safe harbour" provisions of
Canadian securities legislation and the United States Private
Securities Litigation Reform Act of 1995. Forward-looking information
is often, but not always, identified by the use of words such as
"anticipate", "believe", "expect", "plan", "intend", "forecast",
"target", "project", "guidance", "may", "will", "should", "could",
"estimate", "predict" or similar words suggesting future outcomes or
language suggesting an outlook. In particular, statements regarding
Shore's future operations, future exploration and development
activities or other development plans constitute forward-looking
statements.
Forward-looking statements in this press release include, but are not
limited to, assumptions that environmental approval will be attained,
assumptions that financing will be secured, assumptions that the
Star-Orion South Diamond Project economics will be positive as
indicated in the Feasibility Study, and assumptions made respecting
diamond price increases resulting from long-term supply/demand
fundamentals.
These forward-looking statements are based on Shore's current beliefs as
well as assumptions made by and information currently available to it
and involve inherent risks and uncertainties, both general and
specific.
Risks exist that forward-looking statements will not be achieved due to
a number of factors including, but not limited to, developments in
world diamond markets, changes in diamond prices, risks relating to
fluctuations in the Canadian dollar and other currencies relative to
the US dollar, changes in exploration, development or mining plans due
to exploration results and changing budget priorities of Shore or its
joint venture partners, the effects of competition in the markets in
which Shore operates, the impact of changes in the laws and regulations
regulating mining exploration, development, closure, judicial or
regulatory judgments and legal proceedings, operational and
infrastructure risks and the additional risks described in Shore's most
recently filed Annual Information Form, annual and interim MD&A.
Shore's anticipation of and success in managing the foregoing risks
could cause actual results to differ materially from what is
anticipated in such forward-looking statements.
Although management considers the assumptions contained in
forward-looking statements to be reasonable based on information
currently available to it, those assumptions may prove to be incorrect.
When making decisions with respect to Shore, investors and others
should not place undue reliance on these statements and should
carefully consider the foregoing factors and other uncertainties and
potential events. Unless required by applicable securities law, Shore
does not undertake to update any forward-looking statement that is made
herein.
SOURCE: Shore Gold Inc.
