VANCOUVER, July 12, 2012 /PRNewswire/ - Golden Queen Mining Co. Ltd. (TSX:GQM) is pleased to announce that the Kern County Planning and Community Development Department ("Kern County") has approved the additional information submitted by the Company in regards to Condition 107 of the Conditional Use Permits for the Company's Soledad Mountain Project.
Under Condition 107 of the Conditional Use Permits, the Company was required to submit, prior to the commencement of mining, additional information relating to closure and closing reclamation. The Company submitted the required information to Kern County on November 28, 2011 and June 8, 2012. In accordance with the Surface Mining and Reclamation Act of 1975, Kern County consulted the State Department of Conservation/Office of Mine Reclamation ("OMR"). The OMR confirmed in a letter to Kern County dated June 29, 2012 that the additional information provided by the Company adequately demonstrated compliance with Condition 107.
The County also reviewed Resolutions 169-10, 170-10 AND 171-10, (i.e. the Conditional Use Permits which were approved by the Kern County Planning Commission in April 2010), to determine if any conditions remain outstanding that would preclude the Company from initiating mining activities under the approved surface mining and reclamation plan. County staff determined that one condition remained that relates to work on the access road to site. County staff also reminded the Company of the requirement to obtain additional permits such as building permits for the Project. The Company will address these conditions as it proceeds with construction planning and implementation.
Golden Queen Mining Co. Ltd. is focused on developing its wholly-owned, gold-silver, heap leach project, referred to as the Soledad Mountain Project, located just outside the town of Mojave in Kern County in southern California.
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Cautionary Note and Forward Looking Statements
The information in this press release includes certain "forward-looking statements". All statements, other than statements of historical fact, included herein including, without limitation, plans for and intentions with respect to the Company's properties, statements regarding intentions with respect to obligations due for various projects, statements regarding expected regulatory action or positions, permitting, commencement of mining and similar information are forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could influence placing the project into production include uncertainties involving the availability of project financing in the debt and capital markets; uncertainties involved in the interpretation of the estimation of reserves and resources; risks of construction and mining projects such as accidents, equipment breakdowns, non-compliance with environmental and permit requirements, unanticipated variation in ore grades or recovery rates; unexpected cost increases; fluctuations in metal prices and currency exchange rates, changes in mining laws, additional regulatory requirements in connection with mining permits, and other risks and uncertainties disclosed in Golden Queen's Annual Report on Form 10-K for the year ended December 31, 2011, filed with U.S. and Canadian securities regulatory authorities and in other reports and documents filed with applicable securities regulatory authorities from time to time. These forward looking statements reflect the beliefs, opinions and projections on the date the statements are made. Forward looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in Golden Queen's business, including risks inherent in mineral exploration and development. Investors are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, should not to put undue reliance on forward-looking statements.
SOURCE Golden Queen Mining Co. Ltd.