MBMI Announces Mining Permits Extensions
10 September 2008 - 10:00PM
Marketwired
MBMI RESOURCES INC. ("MBMI" or the "Company") (TSX VENTURE: MBR) is
pleased to advise that the Philippine government has renewed two of
the Small Scale Mine Operating ("SSMO") permits that are related to
the Alpha nickel property in Palawan, Philippines. The renewal of
the SSMO permits will allow the Company's Philippine partners to
continue the extraction and sale of up to 50,000 metric tonnes of
raw nickel material, per permit, per year for a further two years
through to September 2010.
"We are very pleased with the Philippine government's decision
to renew these permits. This now enables the Alpha project to
continue material extraction and shipping operations while the
full-scale permit applications are reviewed and processed," said
Michael Mason, President and Director of MBMI.
The Company's Philippine partners were originally granted SSMO
permits for the Alpha nickel property in 2006 which has allowed for
the evaluation, extraction, testing, and sales of nickel raw
materials to Asian industrial consumers. Financial and Technical
Assistance Agreement (FTAA) applications related to the Alpha
property and three other Palawan nickel projects are advancing
through an approval process within the Philippine Department of
Environment and Natural Resources (DENR) and once granted would
allow for full-scale commercial production.
MBMI Resources Inc. is a Canadian-based mining company focused
on the exploration and development of nickel mineral properties in
the Philippines. MBMI and its partners control eight nickel
laterite projects in the Philippines, covering an area greater than
22,000 hectares. MBMI's objective is to become a major supplier of
high-grade nickel products to primary industrial consumers in
Asia.
ON BEHALF OF THE BOARD OF DIRECTORS
David G. Tafel, VP Corporate Development, Director
This news release may contain forward-looking information
including but not limited to comments regarding the timing and
content of upcoming financings, work programs, geological
interpretations, receipt of property titles, potential mineral
recovery processes, etc. Forward-looking information includes
disclosure regarding possible future events, or conditions or
results of operations that is based on assumptions about future
economic conditions and courses of action, and therefore, involves
inherent risks and uncertainties. Although management has a
reasonable basis for the conclusions drawn, actual results may
differ materially from those currently anticipated in such
statements. At this time the Company has not yet established NI
43-101 compliant mineral resources or mineral reserves that would
support a commercial mining operation.
The TSX Venture Exchange has not reviewed and does not take
responsibility for the accuracy of this release.
Contacts: MBMI Resources Inc. - Investor Relations David G.
Tafel VP Corporate Development, Director (604) 683-1991 or
1-877-399-1991 (604) 683-8544 (FAX) Email: mbr@mbmiresources.com
Website: www.mbmiresources.com
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