Tirex Resources Update
October 18 2011 - 5:18PM
Marketwired
Tirex Resources (TSX VENTURE:TXX) announces that it has submitted
all of the required documentation to apply for mining permits in
the areas known as Central Gurthi & North Gurthi (Koshaj),
South Gurthi & Letitna, Tuc, Qaf Bari, Fushe Arres and Paluca
via license application numbers LC-9821-08-2011, LC-9819-08-2011,
LC-9822-08-2011, LC-9820-08-2011, LC-9817-08-2011 and
LC-9818-08-2011.
These areas of the Mirdita District have been the subject of
substantial investment by Tirex during the past four years and held
by Tirex within Tirex's exploration land package (Exploration
Concession 1013). To date, Tirex has spent a total of approximately
$25 million on the company's Mirdita VMS Project.
Tirex has now applied to transition the six specific areas into
production based on successful work that variously consisted of
drilling, database compilation, airborne geophysics, ground
geophysics, geochemistry and geological mapping.
Tirex has submitted comprehensive documentation with respect to
the environment and the community to the Ministry of Environment
and Forestry and mining plans to the Ministry of Economy, Trade and
Energy. Tirex's applications have received official support from
all the host communities where the mining permit applications are
located.
Tirex's mining plans, as presented to the government, would
create substantial long term employment, infrastructure growth and
community benefits in an area of Albania in need of investment and
economic activity. During exploration in these areas, Tirex
established a strong local presence that has resulted in a level of
employment and economic activity that is expected to grow further
during prospective mining operations.
Further details on Tirex Resources Ltd. and the Mirdita Project
can be found on the Tirex website at www.TirexResources.com.
ON BEHALF OF TIREX RESOURCES LTD.
Bryan J.R. Slusarchuk, Chief Executive Officer
Forward-Looking Statements. This Tirex News Release may contain
certain "forward-looking" statements and information relating to
Tirex. Such statements include but are not limited to statements
about the timing of the mine development, mill construction and ore
production. Often forward-looking statements or information include
words such as "plans", expects", "intends", "anticipates",
"estimates", "forecasts", or variations of such words and phrases
or statements that certain actions, events or results "may",
"could", "would", "might" or will be taken occur or be achieved.
Although forward-looking statements and information contained in
this release are based on the beliefs of Tirex management, which we
consider to be reasonable, as well as assumptions made by and
information currently available to Tirex management, there is no
assurance that the forward-looking statement or information will
prove to be accurate. The assumptions made include assumptions
about Tirex receiving the mining permits applied for. Tirex has no
assurance that the permits will be issued nor if issued, that they
will be issued in a timely manner. The forward-looking statements
and information contained in this release are subject to current
risks, uncertainties and assumptions related to certain factors
including, without limitations, obtaining all necessary approvals,
feasibility of mine and plant development, exploration and
development risks, expenditure and financing requirements, title
matters, operating hazards, metal prices, political and economic
factors, competitive factors, general economic conditions,
relationships with vendors and strategic partners, governmental
regulation and supervision, seasonality, technological change,
industry practices, and one-time events as well as risks,
uncertainties and other factors discussed in our quarterly and
annual and interim management's discussion and analysis. Should any
one or more of these risks or uncertainties materialize or change,
or should any underlying assumptions prove incorrect, actual
results and forward-looking statements and information may vary
materially from those described herein. Accordingly, readers should
not place undue reliance on forward-looking statements and
information contained in this release. We undertake no obligation
to update forward-looking statements or information except as
required by law.
"Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release."
Contacts: Tirex Resources Ltd. Bryan J.R. Slusarchuk Chief
Executive Officer 604-687-7160 or Toll Free: 1-877-687-7160
604-687-7165 (FAX)info@TirexResources.comwww.TirexResources.com
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