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.
The TSX does not accept responsibility for the
adequacy or accuracy of this news release.
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