Jun 25 2014
True Gold Mining Inc. ("True Gold" or the "Company") is pleased to announce that SENET (Pty) Ltd. ("SENET"), a leading South African based mineral process and engineering firm, has been awarded the engineering, procurement and construction management ("EPCM") contract for the Karma Mine in Burkina Faso, West Africa.
"We are very pleased to have engaged SENET as EPCM contractor for the Karma Mine," stated Peter Carter, COO of True Gold. "SENET is very familiar with Karma, having worked with our Owner's team on the project from an early stage, including leading the Feasibility Study(1), construction of the fresh water barrage, and detailed engineering and construction-level design work. In each instance, we have been impressed with their ability to identify potential cost savings, which could cumulatively lead to significant reductions in capital for the overall mine build."
SENET is recognized worldwide for their extensive African mine construction experience, having worked on more than two dozen mines throughout the continent, including leading engineering, construction and procurement for the Yatela, Kalsaka, and Ayanfuri heap leach gold mines in West Africa.
SENET will work closely with our Burkina Faso based senior management team, who have extensive mine building experience around the globe. Peter Carter, True Gold's Chief Operating Officer and Vice President Engineering, was involved in the construction and start-up of the Kumtor Gold Mine in Kyrgyzstan and, as Operations Manager, helped oversee construction at the Boroo Gold Project in Mongolia. Steve Cole, Karma Project Manager, was Project Director with Aurora Energy Resources and Engineering Manager for Fronteer Gold, where he managed engineering studies and projects related to the company's gold projects in Nevada. Chris Wentzel, Karma Construction Manager, has supervised gold and copper mine construction projects in African jurisdictions such as Guinea, Sierra Leone, Eritrea and Mali.
(1) See Technical Report, entitled "Updated Resource Estimate and Feasibility Study on the Karma Gold Project," prepared by P&E Mining Consultants Inc. dated effective December 17, 2013, a copy of which is available under the Company's profile on SEDAR at www.sedar.com.
About True Gold
True Gold Mining Inc. is where gold comes to life. We are committed to growing a successful gold exploration, development and production company, by focusing on projects with low costs, low technical risks and solid economics. The Company's board, management and technical teams have proven track records in gold exploration, development, operations and production worldwide.
Additional information about the Company and its activities may be found on the Company's website at www.truegoldmining.com and under the Company's profile at www.sedar.com.
ON BEHALF OF THE BOARD
Dwayne Melrose, President & CEO