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First Bauxite Granted Extension for Commencement of Construction for Bonasika Project

Editorial Checklist

Reviewed

Nov 2 2017

First Bauxite Corporation is pleased to announce that it has received formal notification from the Guyana Geology and Mines Commission (the "GGMC") that its request for an extension to commence construction under its Mining License for the Bonasika Project has been approved.

The Company had earlier received an extension through January 31, 2018, which also provided for an additional year to be granted if the GGMC considered the Company to have made sufficient progress to merit the additional extension. The construction commencement date has now been extended to January 31, 2019.

In addition, the Company has also received from the Government of Guyana an executed Amendment Agreement to its Mineral Agreement to reflect the new project concept of a mining and beneficiation plant in Guyana and the downstream processing plant in the USA.

Source:

http://www.firstbauxite.com/

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