Sep 21 2013
True Gold Mining Inc. ("True Gold" or the "Company") is pleased to report that the Company has received an Environmental Permit from the Burkina Faso Ministry of Environment and Sustainable Development for development of the Goulagou I, Goulagou II and Rambo deposits at the Company's flagship Karma Gold Project ("Karma Project").
The receipt of final environmental approval advances True Gold's application for an exploitation permit for the deposits. Exploitation (mining) permits are the next and final approvals required before development and production can begin. Exploitation permits are typically granted approximately two months after receipt of environmental permits.
As permitting advances, True Gold is moving forward with optimizing mine engineering, site preparation, evaluating and pricing longer-lead capital cost items, and finalizing capital and operating cost estimates1 as part of the ongoing Feasibility Study.
"Our goal is to have the operating permit and completed Karma Project Feasibility Study in hand by the end of the year," said Dwayne Melrose, President & CEO, True Gold.
Peter C. Carter, P. Eng., Chief Operating Officer and Vice President Engineering of the Company, is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and verified that the technical information contained in this release is accurate and approves of the written disclosure of same.
1 The Company has not made a production decision and the Company's strategic plan to develop a stand-alone heap leach operation is subject to the results of its Feasibility Study, which is currently underway. Further, if and when the Company makes any production decision, it will disclose the basis of such decision in accordance with the requirements of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").
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"
Dwayne Melrose, President & CEO