Minaurum Extends Key Mining Permit at Alamos Silver Project
Vancouver, June 26, 2023 - Minaurum Gold Inc., (TSXV: MGG) (OTCQX: MMRGF) ("Minaurum") is pleased to announce that the Mexican Federal Environmental Authority ("SEMARNAT") has extended the Environmental Impact Statement ("MIA") for the development of Minaurum's 100% owned, fully production permitted Alamos Silver Project ("Alamos") in the State of Sonora, Mexico. The extension allows surface exploration and mining production activities, including the construction of drill pads, clean-up of preexisting roads, and the rehabilitation and reactivation of historical underground mine workings.
"With the extension of the MIA, Alamos becomes the only recent silver discovery in Mexico that is fully permitted through construction," stated Darrell Rader, President and CEO. "It is a testament to our Mexican partners' foresight that the mining permit was secured during the project's inception, and puts us in a highly advantageous position as we continue to define silver resources. Given the current permitting environment in Mexico, securing these permits adds considerable value to Alamos by significantly de-risking the path forward to production."
MIA Mine Permit Details:
- Long Term Validity: Alamos' mining permit was granted on December 13, 2013 and is valid for a period of 30 years starting on the date of the notice of commencement of Minaurum's exploration activities to SEMARNAT, the National Commission for Protection of Natural Areas (CONANP), and the Federal Attorney for Environmental Protection (PROFEPA), which occurred on October 18, 2016.
- Phased Exploration, Exploitation and Production Activities: The permit consists of two phases. Phase 1, originally scheduled for 5 years and extended until August 10, 2025, includes surface exploration, the reactivation of historical mines, the temporary storage of mineralized material and equipment outside of mine entrances, and the transportation of mineralized material to a stockpile area. Phase 2 will consist of a mine production plan to be developed and submitted to SEMARNAT before the end of the extended Phase 1 period. Minaurum controls 15 mining concessions covering the core 5,976 hectares and an additional 31,952 hectares that lie to the west and south of the core area.
- Standard Use Requirements: A small portion of Alamos project lies inside the Sierra de Alamos-Río Cuchujaqui Flora and Fauna Protection Area ("ANPFF"), which is administered by CONANP. The SEMARNAT mining permit applies within the area, with certain additional conditions and restrictions. Mineralized material may be mined but only stockpiled temporarily on land within the ANPFF and then must be processed outside of the ANPFF boundaries. Non-temporary equipment maintenance, service, and supply facilities must also be located outside of the ANPFF boundaries.
- Environmental Studies: Plant and animal species must be monitored. Minaurum has submitted reports on monitoring of flora and fauna in compliance with the requirements of the protected area. Minaurum has conducted baseline studies on bat populations in relation to exploration activities concluding that there should be no material impact from future mining activities, see here for video - https://minaurum.com/investors/esg/.
- No Material Impact from Current Mexican Mining Reform: Minaurum believes that there will be no material impact going forward on the status and validity of the issued original MIA and extension.
Minaurum will continue to work with SEMARNAT on its ongoing activities at the Alamos silver project and will provide updates accordingly.
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Minaurum Gold Inc. (TSXV: MGG) (OTCQX: MMRGF) (FSE: 78M) is a Mexico-focused explorer concentrating on the high-grade 100% owned fully production permitted Alamos silver project in southern Sonora. Minaurum is managed by one of the strongest technical and finance teams, and will continue its founders' legacy of creating shareholder value to develop and acquire a pipeline of potential Tier One precious metals projects. Through a portfolio containing Silver projects totaling 37,928 hectares; Gold projects totaling 25,933 hectares; and Copper projects totaling 12,856 hectares, Minaurum provides significant exposure to precious and base metals. For more information, please visit our website at www.minaurum.com and our YouTube Minaurum Video Channel.
ON BEHALF OF THE BOARD
"Darrell A. Rader"
Darrell A. Rader
President and CEO
For more information, please contact:
Sunny Pannu - Investor Relations and Corporate Development Manager
(778) 330 0994 or via email at pannu@minaurum.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
___________________________________________________________________________
2710 - 200 Granville Street
Telephone 778 330-0994
Vancouver, BC V6C 1S4
www.minaurum.com
info@minaurum.com
Cautionary Note Regarding Forward Looking Information: This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.
In making the forward-looking information in this release, Minaurum has applied certain factors and assumptions that are based on Minaurum's current beliefs as well as assumptions made by and information currently available to Minaurum. Although Minaurum considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information.
Readers are cautioned not to place undue reliance on forward-looking information. Minaurum does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/170925
