Final Permitting Approval for Project Development
TORONTO, Jan. 30, 2015 /PRNewswire/ - Roxgold Inc. ("Roxgold" or "the Company") (TSX.V: ROG) is pleased to announce that it has received its final permitting approval for the Yaramoko Gold Project from the government of Burkina Faso.
The issuance of the Exploitation (Mining) Permit, which was previously approved by Burkina Faso's Council of Ministers, has now been finalized through the endorsement of the Mining Decree by the President of Burkina Faso, and other governmental authorities. The Mining Decree formally grants the Company rights to develop and operate the Yaramoko Gold Project.
"We are delighted to announce the formal conclusion of our permitting process, and to move our focus to the development of the Yaramoko Gold Project, one of the highest grade undeveloped deposits in the world," said John Dorward, President and CEO. "We thank the government of Burkina Faso for its demonstrated support, and look forward to a lasting and mutually beneficial partnership."
The Company expects to commence initial site works in the coming weeks and looks forward to providing further updates as development progresses.
Roxgold is a gold exploration and development company with its key asset, the high grade Yaramoko Gold Project, located in the Houndé greenstone region of Burkina Faso, West Africa. The Company is currently advancing Yaramoko's 55 Zone and subject to making a positive construction decision expects to commence development in Q1 2015. Roxgold trades on the TSX Venture Exchange under the symbol ROG.
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
This news release contains forward-looking information. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. In certain cases, forward-looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and mineral reserves, the realization of resource estimates and reserve estimates, gold metal prices, the timing and amount of future exploration and development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs, the availability of necessary financing and materials to continue to explore and develop the Yaramoko project in the short and long-term, the progress of exploration and development activities, the receipt of necessary regulatory approvals, the completion of the environmental assessment process, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
SOURCE Roxgold Inc.