Euro Sun Provides License Ratification Update for Rovina Valley TORONTO, May 23, 2018 (GLOBE NEWSWIRE) -- Euro Sun Mining Inc. (TSX:ESM) (“Euro Sun” or the “Company”) reports that following a meeting with the Secretary General of Government (“SGG”) in conjunction with the National Agency for Mineral Resources (“NAMR”), that it has been confirmed to the Company that the Ministry of Economy, the Ministry of Environment and the Ministry of Waters and Forests have all signed the Mining License.
The Mining License is now with the Ministry of Public Finance for signature, following which it will be sent to the Ministry of Justice. The fully executed License will then return to SGG for signature by the Prime Minister at the next available Government meeting. This will conclude the ratification process and the Mining License approval will be published in the Official Monitor.
G. Scott Moore, President and CEO of Euro Sun stated: “The Secretary General of Government assured management of their intention to ratify our Mining License and will submit the fundamental note to the Government Meeting at the earliest opportunity following the signature of the Ministry of Justice. My team and I are in Romania, to assist where necessary, and to ensure a quick completion of the ratification. We look forward to initiating the next phase of the Rovina Valley Project for the State of Romania, our local communities and for all our stakeholders.”
The Rovina Valley Project is one of the largest mineral deposits in Europe and consists of three porphyry deposits: Colnic and Rovina, and Ciresta. The Project hosts measured and indicated mineral resources of 7.2 million ounces of gold and 1.4 billion pounds of copper in 406 million tonnes at 0.55 gold grams per tonne and 0.16% of contained copper. |