TSX: GMIN
OTCQX: GMINF
All amounts are in USD unless stated
otherwise
- The receipt of the Operating Licenses marks the last remaining
permitting milestone for commercial operation
- Tocantinzinho remains on track to commercial production in
H2-24
BROSSARD,
QC, Aug. 28, 2024 /CNW/ - G Mining Ventures
Corp. ("GMIN" or the "Corporation") (TSX: GMIN)
(OTCQX: GMINF) is pleased to announce that it has received the
Operational Licenses for GMIN's 100%-owned Tocantinzinho Gold
Project ("TZ" or the "Project") in the State of Pará,
Brazil – the last remaining
permitting milestone for commercial operation. The Project
remains on time and budget for commercial production in the second
half of 2024.
The Licences received from the Pará State
Environmental Agency, Secretaria de Estado de Meio Ambiente e
Sustentabilidade ("SEMAS"), include the Operating Licence
for mining, processing plant, tailings facilities and the new
airstrip. Receipt of these licenses marks the successful completion
of all project construction activities and authorizes the mine to
commence operations at full capacity.
Louis-Pierre
Gignac, President & Chief Executive Officer,
commented: "This final step in the regulatory approval process
for TZ is a testament to Brazil's
mining-friendly business environment, its well-structured
permitting process and our team's commitment to excellence in
everything we do. I am thrilled by the achievement of this major
milestone and continue to be excited as I witness the steady
progress being made in commissioning the plant allowing us to
achieve commercial production in the very near term."
Project Development Timeline
The Project remains on track and budget for
commercial production in H2-2024.
Virtual Site Tour and Feasibility Study
Presentation
Updated satellite imagery and 360 photography
showing the site progress is available through the corporate
presentation at: https://vrify.com/decks/14338. A 3D
presentation of the Project Feasibility Study is available at:
Feasibility Study 3D VRIFY Presentation. Both presentations
can be accessed by visiting GMIN's website at
https://www.gminingventures.com.
Timetable and Next Steps
Upcoming key milestones include:
- Q3-24: Oko West Project's Preliminary Economic Assessment
- Q4-24 Exploration results from both TZ and Oko West
- H2-24: Commercial production at TZ
Qualified Person
Louis-Pierre
Gignac, President & Chief Executive Officer of GMIN, a
QP as defined in NI 43-101, has reviewed the press release on
behalf of the Corporation and has approved the technical disclosure
contained in this press release.
About G Mining Ventures Corp.
G Mining Ventures Corp. (TSX: GMIN) (OTCQX:
GMINF) is a mining company engaged in the acquisition, exploration
and development of precious metal projects to capitalize on the
value uplift from successful mine development. GMIN is
well-positioned to grow into the next mid-tier precious metals
producer by leveraging strong access to capital and proven
development expertise. GMIN is currently anchored by the
Tocantinzinho Gold Project in Brazil and Oko West Project in Guyana, both mining friendly and prospective
jurisdictions.
Cautionary Statement on Forward-Looking
Information
All statements, other than statements of
historical fact, contained in this press release constitute
"forward-looking information" and "forward-looking statements"
within the meaning of certain securities laws and are based on
expectations and projections as of the date of this press release.
Forward-looking statements contained in this press release include,
without limitation, those related to (i) the Project remaining on
schedule and on budget for commercial production in H2-2024; (ii)
the quoted expectations of GMIN's President & Chief Executive
Officer; and (iii) more generally, the horizontal bar
chart entitled "Project Development Timeline" as well as the
sections entitled "Timetable and Next Steps" and "About G Mining
Ventures Corp.".
Forward-looking statements are based on
expectations, estimates and projections as of the time of this
press release. Forward-looking statements are necessarily based
upon a number of estimates and assumptions that, while considered
reasonable by the Corporation as of the time of such statements,
are inherently subject to significant business, economic and
competitive uncertainties and contingencies. These estimates and
assumptions may prove to be incorrect. Such assumptions
include, without limitation, those relating to the price of gold
and currency exchange rates, those outlined in the TZ Project's
Feasibility Study and those underlying the items listed on the
above sections entitled "Timetable and Next Steps" and "About G
Mining Ventures Corp.".
Many of these uncertainties and contingencies
can directly or indirectly affect, and could cause, actual results
to differ materially from those expressed or implied in any
forward-looking statements. There can be no assurance that, notably
but without limitation, the Corporation will (i) carry its next
steps as per the above timetable, to bring the Project into
commercial production in H2-2024, or at all, (ii) grow TZ into
Brazil's third-largest primary
gold mine, or (iii) use TZ and Oko
West to grow GMIN into the next intermediate producer, as
future events could differ materially from what is currently
anticipated by the Corporation. In addition, there can be no
assurance that Brazil
and/or Guyana will remain mining
friendly and prospective jurisdictions.
By their very nature, forward-looking
statements involve inherent risks and uncertainties, both general
and specific, and risks exist that estimates, forecasts,
projections and other forward-looking statements will not be
achieved or that assumptions do not reflect future experience.
Forward-looking statements are provided for the purpose of
providing information about management's expectations and plans
relating to the future. Readers are cautioned not to place undue
reliance on these forward-looking statements as a number of
important risk factors and future events could cause the actual
outcomes to differ materially from the beliefs, plans, objectives,
expectations, anticipations, estimates, assumptions and intentions
expressed in such forward-looking statements. All of the
forward-looking statements made in this press release are qualified
by these cautionary statements and those made in the Corporation's
other filings with the securities regulators of Canada including, but not limited to, the
cautionary statements made in the relevant sections of the
Corporation's (i) Annual Information Form dated March 27, 2024, for the financial year ended
December 31, 2023, and (ii)
Management Discussion & Analysis. The Corporation cautions that
the foregoing list of factors that may affect future results is not
exhaustive, and new, unforeseeable risks may arise from time to
time. The Corporation disclaims any intention or obligation to
update or revise any forward-looking statements or to explain any
material difference between subsequent actual events and such
forward-looking statements, except to the extent required by
applicable law.
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SOURCE G Mining Ventures Corp
