Euro Sun Provides License Ratification Update for Rovina Valley
TORONTO, May 23, 2018 (GLOBE NEWSWIRE) -- Euro Sun Mining Inc. (TSX:ESM) (“Euro Sun” or the “Company”) reports that following a meeting with the Secretary General of Government (“SGG”) in conjunction with the National Agency for Mineral Resources (“NAMR”), that it has been confirmed to the Company that the Ministry of Economy, the Ministry of Environment and the Ministry of Waters and Forests have all signed the Mining License.
The Mining License is now with the Ministry of Public Finance for signature, following which it will be sent to the Ministry of Justice. The fully executed License will then return to SGG for signature by the Prime Minister at the next available Government meeting. This will conclude the ratification process and the Mining License approval will be published in the Official Monitor.
G. Scott Moore, President and CEO of Euro Sun stated: “The Secretary General of Government assured management of their intention to ratify our Mining License and will submit the fundamental note to the Government Meeting at the earliest opportunity following the signature of the Ministry of Justice. My team and I are in Romania, to assist where necessary, and to ensure a quick completion of the ratification. We look forward to initiating the next phase of the Rovina Valley Project for the State of Romania, our local communities and for all our stakeholders.”
The Rovina Valley Project is one of the largest mineral deposits in Europe and consists of three porphyry deposits: Colnic and Rovina, and Ciresta. The Project hosts measured and indicated mineral resources of 7.2 million ounces of gold and 1.4 billion pounds of copper in 406 million tonnes at 0.55 gold grams per tonne and 0.16% of contained copper.
The scientific and technical information presented in this press release has been reviewed and approved by Randall Ruff, Vice President Exploration for Euro Sun, who is a Qualified Person as defined by National Instrument 43-101.
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.
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Caution regarding forward-looking information: This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. 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.
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