MONTREAL, April 02, 2019 (GLOBE NEWSWIRE) -- Sama Resources Inc. (TSXV: SME | OTC.PK: SAMMF) (“SME” or the “Company”) is pleased to report that SRG Graphite Inc. (“SRG”) has received its Environmental Conformity Certificate from the government of Guinea for its Lola graphite project. This certificate is the only environmental and social permit required to move forward with the construction of the project. With this certificate in hand, SRG is now in a position to file for its mining license, another crucial permit required for construction.
SRG worked with Montreal-based EEM Sustainable Management (“EEM”) and Guinean firms Sylvatrop Consulting, a bio-diversity expert, and Guinée Environment Services to produce a study which meets Guinea’s standards and the International Finance Corporation’s (“IFC”) 2012 edition of the Environmental and Social Performance Standards.
SRG is partnering with Giovannetti Consultant (“GC”) to develop its resettlement action plan (“RAP”), which will also follow IFC’s 2012 edition of the Performance Standards, namely PS5 pertaining to land acquisition and resettlement. While only 150 economic relocations and 6 physical relocations are expected, a well-detailed RAP is required to ensure best practices are followed. Frederic Giovannetti, founder of GC, brings over 38 years of relevant experience and has recently led the preparation of the new IFC Resettlement Handbook to be published in 2019.
With the Environmental Conformity Certificate in hand, SRG now has all the required documents to apply for a mining license from the Ministry of Mines. SRG filed its mining license application on April 1, 2019.
About Sama Resources Inc.
Sama is a Canadian-based mineral exploration and development company with projects in West Africa. Sama holds a control position in SRG of 24,658,267 shares representing 35.54% of the issued and outstanding shares of SRG and is considered an insider for reporting purposes.
For more information about Sama, please visit Sama’s website at http://www.samaresources.com.
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SAMA RESOURCES INC./RESSOURCES SAMA INC.
Dr. Marc-Antoine Audet, President and CEO
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OR
Mr. Matt Johnston, Corporate Development Advisor
Tel: (604) 443-3835
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FORWARD LOOKING STATEMENTS
Certain of the statements made and information contained herein are "forward-looking statements" or “forward-looking information” within the meaning of Canadian securities legislation. Forward-looking statements and forward-looking information are subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking statements or forward-looking information, including, without limitation, the availability of financing for activities, risks and uncertainties relating to the interpretation of electrochemical characterization, drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, metal price fluctuations, environmental and regulatory requirements, availability of permits, escalating costs of remediation and mitigation, risk of title loss, the effects of accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration or development, the potential for delays in exploration or development activities, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, expectations and beliefs of management and other risks and uncertainties.
In addition, forward-looking statements and forward-looking information are based on various assumptions. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information or forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.