VANCOUVER, Nov. 21, 2018 /CNW/ - Eros Resources
Corp. (TSX.V: ERC) ("Eros" or the
"Company") and our 100% owned subsidiary Bell Mountain
Exploration Corp. are pleased to update our shareholders with
regard to our Bell Mountain gold-silver project in Churchill County, Nevada.
Two years ago the U.S. Department of the Navy issued a notice of
its intent to conduct an environmental impact statement
("EIS") regarding the proposed expansion of the Fallon Range
Training Complex on lands administered by the U.S. Bureau of Land
Management ("BLM"). The Company's Bell Mountain
project falls within the immediate vicinity of the proposed
expansion and was subjected to a two-year moratorium on any new
work to advance the project.
The initial two-year moratorium expired on September 1, 2018 but was extended for an
additional four years of mineral withdrawal while the Navy
completes its EIS. This extension was announced in the U.S.
Federal Register on August 31,
2018. Owing to special efforts by Company staff and
consultants, the Bell Mountain project was specifically listed as
exempt from the new withdrawal notice. Although certain Navy
restrictions are expected to affect the project, the exemption
allows for the project to advance in the near term.
A Mine Plan of Operation
("MPO") based on existing information was submitted to the
BLM in late August, prior to the new four-year withdrawal
notice. The Company has since responded to BLM comments on
the MPO. Also submitted to the BLM are applications for a
water pipeline right-of-way and road access right-of-way to the
property. The Company is awaiting administrative approval by the
BLM of these three key applications. The Company is also
working to address permitting and engineering requirements of the
Bureau of Mining Regulation and Reclamation under the Nevada
Division of Environmental Protection. Eros' conceptual mine
plan is available on the Company's website at
www.erosresourcescorp.com under the Bell Mountain project,
Technical Reports and Presentations.
Environmental baseline studies and permitting support for the
Bell Mountain project are being provided by Stantec Consulting
Services, Inc. (Reno,
Nevada). Engineering support is being provided by
Welsh Hagen Associates (Reno,
Nevada).
The Company also wishes to advise that Don Siemens has resigned as Director of the
Company to pursue other professional activities. We wish to
thank Mr. Siemens for the significant contributions he has made as
a Director since being elected by shareholders in 2013 and we wish
him well in his endeavours.
Mr. Jeffrey Wilson is a
consulting geologist to the Company based in Carson City, Nevada. Mr. Wilson is a
"qualified person" under NI 43-101, and has reviewed and approved
the scientific and technical information contained in this news
release.
About Eros
Eros Resources Corp. is a Canadian public company focused on the
exploration and development of resource projects in North America. Eros has as its prime business
objective the selection of strategic investments with a Canadian
focus and a diverse commodity base. The Company's expertise in the
resource sector supports the selection of these strategic
investments.
On behalf of the Board of Directors of
Eros Resources Corp.,
Tom MacNeill
Chairman of the Board of Directors
(604) 688-8115
Cautionary note regarding
forward-looking statements
Certain statements made and information contained herein may
constitute "forward looking information" and "forward looking
statements" within the meaning of applicable Canadian and
United States securities
legislation, including, among other things, this press release
includes references to mineral resources and future potential
forecast economics of extracting those resources. There is no
certainty that any portion of the resources will be confirmed with
greater certainty. If confirmed, there is no certainty that it will
be commercially viable to extract any portion of the resource.
There is no certainty that access to the resource area will be
re-established, and if access to the resource area is blocked for
an extended period of time, or permanently, there is no certainty
that any compensation will be received by the Company.
Forward-looking information involves known and unknown risks,
uncertainties and other factors that may cause actual results or
events to differ materially from those expressed or implied by such
forward-looking information, including the re-establishment of
physical access to the property, the availability of adequate and
secure sources of funding to construct the extraction facilities
required to extract the mineral resources, prevailing commodity
prices, the receipt of regulatory approvals, environmental risks
and the performance of personnel. While the Company considers its
assumptions to be reasonable as of the date hereof, forward-looking
statements and information are not guarantees of future performance
and readers should not place undue importance on such statements as
actual events and results may differ materially from those
described herein. The Company does not undertake to update any
forward-looking statements or information except as may be required
by applicable securities laws.
Neither TSX Venture Exchange nor the Investment
Industry Regulatory Organization of Canada accepts responsibility for the adequacy
or accuracy of this release.
SOURCE Eros Resources Corp.