GoldQuest: Injunction Against the Company in the Dominican Republic Has No Effect on Activities
17 April 2018 - 10:00AM
GoldQuest Mining Corp. (TSXV:GQC) (FRANKFURT:M1W) (BERLIN:M1W)
("GoldQuest" or the "Company") reports that it has received the
written decision of the Penal Chamber of the First Instance Court
of the Judicial District of San Juan de la Maguana (the “Court”) in
response to a Constitutional Injunction “Remedy” filed by a local
Dominican group against GoldQuest Dominicana SRL, the Company’s
wholly owned subsidiary. Upon review of the written decision, Luis
Pellerano of Pellerano & Herrera, the Company's legal counsel
in the Dominican Republic, stated “The judgment simply restates the
existing legal requirements under present Mining Law 146 and hence
has no effect on the operations of the Company or its plans going
forward. The judgment only requires the Company to obtain the
required permits to move into the exploitation phase, which was
already the case.”
The injunction is limited to the Exploitation
Permit Application for the Romero Concession (“Romero”) and does
not relate to the Company’s exploration licenses.
At Romero, the Company effectively ceased
operations in November 2015 at the time of its application for a
mining exploitation concession, as under Mining Law 146 (the
“Mining Law”) no work can be carried out on Romero until an
Exploitation License has been granted by the Ministry of Energy and
Mines. Further detailed studies on Romero will only be carried out
by the Company once Terms-of-Reference for a thorough Environmental
and Social Impact Assessment (“ESIA”) have been issued by the
Ministry of Environment and Natural Resources, a process that can
only begin with the issuance of the Exploitation License. No
substantial development activities can begin until the Company has
completed the ESIA, and subsequently received an Environmental
License to operate an industrial operation.
“On 22nd January 2018, the Minister of Energy
and Mines announced that the Company had fully complied with every
requirement for an Exploitation License under the Mining Law. The
Minister sent this application to the Office of the President for
ratification, which the Company eagerly awaits,” commented Bill
Fisher, Gold Quest’s CEO. “All activities by GoldQuest will be
carried out under the Mining Law, maintaining international
standards and safeguards.”
About GoldQuest
GoldQuest is a Canadian based mineral
exploration company with projects in the Dominican Republic.
GoldQuest is traded on the TSX-V under the symbol GQC and in
Frankfurt/Berlin with symbol M1W.
Forward-looking statements:
Statements contained in this news release that
are not historical facts are forward-looking information that
involves known and unknown risks and uncertainties. Forward-looking
statements in this news release include, but are not limited to,
statements with respect to the decision of the Court, the
interpretation of the decision, the impact of the decision on the
Company and its activities and plans, the Company's plans and
expectations with respect to the decision and its mineral
properties, including the timing of such plans, receipt of the
Exploitation License and Terms-of-Reference for an ESIA and the
timing thereof, and the activities of the Company in the future. In
certain cases, forward-looking statements can be identified by the
use of words such as "plans", “seeking”, "has proven", "expects" or
"does not expect", "is expected", "potential", "likelihood",
"appears", "budget", "scheduled", "estimates", "forecasts", "at
least", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would",
"should", "might" or "will be taken", "occur" or "be achieved".
Forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements. Such risks and other factors include, among others,
risks related to uncertainties regarding the Court decision; the
interpretation of the Court decision; and the implications of the
decision on the Company and its activities and plans; uncertainties
related to receipt of the Exploitation License and ESIA; the
Company's ability to continue as a going concern; risks inherent in
mineral exploration; risks related to operations in foreign
countries; delays in obtaining governmental approvals; government
regulation of mining operations; environmental risks and the timing
and possible outcome of litigation. Although the Company has
attempted to identify important factors that could affect the
Company and may cause actual actions, events or results to differ
materially from those described in forward-looking statements,
there may be other factors that cause actions, events or results
not to be as anticipated, estimated or intended. There can be no
assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
do not place undue reliance on forward-looking statements. All
statements are made as of the date of this news release and the
Company is under no obligation to update or alter any
forward-looking statements except as required under applicable
securities laws. Forward-looking statements are based on
assumptions that the Company believes to be reasonable, including
expectations regarding the interpretation and implications of the
decision of the Court; the receipt of the Exploitation License and
ESIA; that the Company's activities will be in accordance with the
Company's public statements and stated goals; that there will be no
material adverse change affecting the Company or its properties;
that all required approvals will be obtained and that there will be
no significant disruptions affecting the Company or its
properties.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
CONTACT INFORMATION
GoldQuest Corp.Bill FisherExecutive Chairman and
CEO+1-647-271-4505BFisher@GoldQuestCorp.com
Red Cloud KSChad Williams/Sebastian de KloetInvestor
Relations1-877-919-5979CWilliams@redcloudKS.com
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