TORONTO, Feb. 07, 2018 (GLOBE NEWSWIRE) -- Euro Sun Mining Inc. (TSX:ESM) (“Euro Sun” or the “Company”) is pleased to announce the appointment of Lisa Doddridge to the position of Vice President, Investor Relations & Corporate Communications. Ms. Doddridge is an accomplished and seasoned investor relations executive with close to 15 years of experience driving the investor relations and communications effort for several well known mid-tier mining companies. During her career Ms. Doddridge has formulated and executed the investor relations strategy for numerous high profile transactions totalling over $5 billion and debt and equity raises of close to $1.5 billion. Most recently she served as Vice President, Investor Relations & Corporate Communications at Yamana Gold Inc. and has been the recipient of several awards recognizing her efforts and performance.
“We are pleased to have Lisa join our team, strengthening our company management as we advance the development of our Rovina Valley Project,” commented G. Scott Moore, President and CEO of Euro Sun. “2018 will be an extremely busy year for Euro Sun with ratification of our mining license, Environmental Impact Assessment and Feasibility Study ongoing as well as a very busy marketing schedule and having someone of Lisa’s expertise will be a substantial addition to our team.”
Corporate Update
The ratification process for the Mining License pertaining to the Rovina Valley Project is continuing. Currently, the Mining License has been signed by both the National Agency for Mineral Resources (“NAMR”) and by the Secretary General of Government (“SGG”) demonstrating full Government support for ratification. The remaining signatures required were expected during the week of January 15th, following a 30-day posting period from December 15th by SGG. However, the Prime Minister resigned on January 15th and a new Prime Minister and Cabinet was not installed until January 29th. The remaining signatures are expected imminently after which the Company will be able to announce the full ratification of the mining license. This is expected to occur sometime before the end of the month.
The Rovina Valley Gold and Copper project is located in the Apuseni District on the Tethyan Belt in west-central Romania and hosts Measured and Indicated Mineral Resources of 7.2 million ounces of gold and 1.4 billion pounds of copper (406 million tonnes at 0.55 grams per tonne gold and 0.16% copper). The project is comprised of three deposits: Rovina, Colnic and Ciresata. The Feasibility study, initiated late last year contemplates a phased development beginning with the Colnic deposit in Phase One and the Rovina deposit in Phase Two. The Company also continues to advance its exploration efforts at the Stanija Property located 3km from the Rovina Valley Project.
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.
Further information:
For further information please contact:
Investor Relations at info@eurosunmining.com or +1 416.309.4299.
Qualified Person
The mineral resources stated in this press release have been reviewed and approved by Mr. Pierre Desautels, P.Geo. Principal Resource Geologist of AGP, who served as the independent Qualified Person as defined by National Instrument 43-101, responsible for preparing the Mineral Resource Estimate and Technical Report dated August 30, 2012.
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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