Euro Sun Mining Inc. (TSX: ESM) (“Euro Sun” or the
“Company”) is pleased to announce it has filed a request to
initiate the Strategic Environmental Assessment
(“
SEA”) for the Rovina Valley Project with the
Environmental Protection Agency in Hunedoara County, Romania. The
notice of filing was published in the MESAGERUL HUNEDOREAN as
required under the legislation and will also be published again on
April 8th, 2021.
The contents of the public announcement made by
Euro Sun’s 100% owned subsidiary in Romania are translated
below:
S.C. SAMAX România S.R.L. with
headquarters in Crișcior, 146 Calea Zarandului, postal code 337200,
Hunedoara county, announces the completion of the first version of
PUZ – Industrial Zone for the investments; Development of the
Rovina mining project within the exploitation license area; and
triggering of the screening phase for obtaining the environmental
license.
The first version of the plan can be
consulted at the Hunedoara EPA headquarters, in Deva City, 25 Aurel
Vlaicu street, post code 330007, Hunedoara county, every day from
Monday to Thursday from 8:00 H. to 16.30 H. and on Friday from 8:00
H to 14:30 H, as well as on Hunedoara EPA’s website:
http://apmhd.anpm.ro/web/apm-hunedoara/acasa.
The comments and suggestions shall be sent in writing to Hunedoara
EPA’s headquarters, within 18 calendar days since this announcement
appeared.
Scott Moore, Euro Sun’s CEO states, “We are
pleased to initiate the SEA process with the Hunedoara County
environmental protection agency. Our definitive feasibility study
has outlined a generational asset that brings both the highest
environmental stewardship with significant economic benefits
directly to our local communities and to the County of Hunedoara as
a whole. We look forward to building a stronger relationship with
all of the authorities through this phase of the permit
process.”
The SEA process builds on the Environmental
Impact Assessment (“EIA”) approved under the Exploitation License
issued by the Romanian Government on November 9th, 2018 augmented
by seventeen new or updated environmental studies on the project as
required by Romanian or European regulations. These studies include
such items as Air Quality, Noise, Traffic and various flora and
fauna baseline studies.
The SEA process will also involve obtaining the
opinions or approvals of fourteen administrative bodies.
Representative agencies include the Army General Headquarters,
Hunedoara County Police Inspectorate, Banat Electrical Supply
Company, local and county roads administrators amongst others.
Public consultations are required under the SEA
process and we intend to hold such as directed by the EPA of
Hunedoara county in a timely manner but expected to occur in
Q3.
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 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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