Euro Sun Appoints Peter Vukanovich Non-Executive Chair and Provides Rovina Valley Project Update
January 05 2021 - 4:00PM
Euro Sun Mining Inc. (
TSX: ESM)
(“Euro Sun” or the “Company”) is pleased to announce that the board
of directors has elected Mr. Peter Vukanovich as non-executive
chair of Euro Sun Mining. Mr. Vukanovich is an entrepreneurial
leader and experienced corporate board member. He joined the ESM
board of directors in July 2020. He currently leads PMV
Consulting Inc., a company which provides advisory services to
financial services and real estate technology clients. He is also
on the Board of TSX listed Real Matters Inc.
Mr. Vukanovich has held senior executive roles
during his career including Genworth Financial Canada/GE Capital
Mortgage Insurance, CFF Bank and Teranet Inc. He is a Chartered
Professional Accountant, holds a Bachelor of Commerce degree from
the University of Toronto and has been a member of numerous
not-for-profit boards and advisory committees.
G. Scott Moore, President and CEO stated, “We
are pleased to have Peter become our independent chairman. His
appointment further highlights the Company’s approach to continuous
improvement in corporate governance.”
Project Update
The company and its key engineering consultants
continue to make progress towards completion of the definitive
feasibility study (“DFS”) for the Rovina Valley Project as well as
ongoing submittals to support our required permitting path for
construction.
During this quarter, the Covid-19 global
pandemic has made it more difficult to finalize the DFS. The
Company now expects completion of the definitive feasibility study
during Q1 2021. Euro Sun continues to progress all permitting for
the project in a timely manner and in conjunction with all Romanian
laws.
G. Scott Moore, President and CEO also stated,
“During this global pandemic our team at Rovina has been challenged
with the ever-evolving restrictions in Romania and elsewhere in the
world and its impact on our progress at Rovina. They have done an
outstanding job to keep all aspects of the project advancing and we
endeavour to continue our efforts towards a successful outcome.
While the gold price has performed well since
our PEA of 2019, we would like to highlight that copper prices are
trending higher and should have a positive impact on the DFS given
the large size and highly recoverable nature of copper in the
Colnic and Rovina deposits.”
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 info@eurosunmining.com
Caution regarding forward-looking
information:This press release contains “forward-looking
information” within the meaning of applicable Canadian securities
legislation. Forward-looking information includes, without
limitation, the expected timing for the delivery of the DFS and the
expected timing for providing an update on the permitting process.
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
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