Telson Resources Inc. Receives Tahuehueto Project Construction Permit
Highlights:- Tahuehueto Mine Now Fully Permitted for Construction.
- Includes
- Mineral Processing Facility Construction,
- All mill site and portal access roads and related patios,
- Underground development,
- Camp construction and installation of related service building and structures,
- Construction of tailings storage facilities.
Vancouver, October 10, 2017 - Telson Resources Inc. ("Telson" or the "Company") (TSX Venture - TSN.V) is pleased to announce that the Mexican Federal Government, Secretaria De Medio Ambiente Y Recursos Naturales has issued a permit dated October 2nd, 2017 titled "Resolucion en Materia de Impacto Ambiental para el: "Proyecto reactivacion de operaciones para la explotacion y beneficio de minerales Tahuehueto" en el municipio de Tepehuanes, Dgo." (the "MIA") authorizing the construction of a mineral processing facility, related mining facilities, plus infrastructure and necessary underground development, at the Company's Tahuehueto Project.
"With the granting of this MIA, Telson is now fully permitted to build its planned Tahuehueto Mine and we intend to initiate construction of the mine immediately upon securing the necessary funding. Our funding efforts are at an advanced stage having received three separate offers from off-take concentrate purchasers and negotiations are in progress to finalize the project's capital expenditure funding. While there can be no assurance that we will obtain the required funding, we are confident that we will be able to come to a satisfactory arrangement with an off-take purchaser" states Telson's CEO, Antonio Berlanga.
About Telson Resources Inc.
Telson Resources Inc. is a Canadian based resource development company advancing two gold, silver and base metal projects towards production over the coming months of 2017 and early 2018. Telson's Tahuehueto Project, located in north-western Durango State, Mexico and its recently acquired Campo Morado Mine in Guerrero, Mexico purchased from Nyrstar Mining are both polymetallic deposits containing significant gold, silver, lead, zinc and copper. Telson is currently mining ore at Tahuehueto at a rate of approximately 150 tonnes per day and direct shipping to a toll mill for processing off-site. Subject to securing funding, Telson plans to recommence mineral processing milling operations during October 2017 at Campo Morado, while at the same time develop its Tahuehueto Project through the mine construction phase with an anticipated timeline to be processing at the project site in its own mineral processing facility mid-2018.
On behalf of the board of directors
(signed) "Ralph Shearing"
Ralph Shearing, P.Geol, President
Qualified Person
This press release was prepared under the supervision and review of Ralph Shearing, P.Geol., President and Director of Telson Resources Inc., a Professional Geologist registered in Alberta as a member of the professional organization APEGA, and a Qualified Person as defined by NI 43-101.
Cautionary Note Regarding Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities laws. Forward Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; the timing and costs of future activities on the Company's properties; success of exploration, development and bulk sample processing activities; success in funding activities either through off-take agreements or equity financings, anticipated results of check assay results; and processing plans at the Atocha Mineral Processing Plant for mineralized material from the Company's Tahuehueto project. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "plans", "expects", "scheduled", "estimates", "forecasts", "intends", "anticipates" or variations of such words and phrases. In preparing the Forward-Looking Information in this news release, the Company has applied several material assumptions, including, but not limited to, that the current exploration, development, environmental and other objectives concerning the Tahuehueto Project can be achieved; that the implementation of the selective mining method will prove feasible based on the results of the bulk sample; that the mineral processing plant recently acquired by the Company will be successfully installed and commissioned, the continuity of the price of gold and other metals, economic and political conditions and operations. Forward-Looking Information involves 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 Information. There can be no assurance that Forward-Looking 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. Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Contacts
Glen Sandwell, Telson Resources Inc.
Corporate Communications
ir@telsonresources.com
Tel: +1(604)684-8071
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