Edgewater Adds Key Executive to Corcoesto Gold Project & Support Continues to Be Highlighted by Local Government
October 20 2011 - 9:15AM
Marketwired
Edgewater Exploration Ltd. (TSX VENTURE:EDW)(OTCQX:EDWZF)
("Edgewater" or the "Company") is pleased to welcome Mr. Francisco
Ruiz as the Senior Environmental Manager on the Corcoesto Gold
Project. Formerly employed by Kinbauri Gold Corp. as Senior
Environmental Officer and Rio Narcea Gold Mines Ltd., as
environmental and assay laboratory superintendent and metallurgist,
Mr. Ruiz, will be in charge of all environmental affairs for the
Corcoesto Gold Project. Mr. Ruiz has widespread experience in
industrial pilot studies, plant testing, quality controls, waste
water treatment, metallurgy, mine permitting and commissioning, and
land reclamation. Mr. Ruiz has been involved in successful mine
permitting and mine commissioning endeavors in Spain.
Government Support for Corcoesto
The Company continues to foster an open dialogue with all levels
of government in Galicia, Spain, for the purposes of advancing the
project. In this respect, the response from all levels of
government has been positive, from the key Municipal level to the
Galician Mines Ministry. As a testament to this, in a recent
edition of the national Spanish newspaper El Mundo the Mayor of
Cabana de Bergantinos, Jose Muino, recently referred to the
Corcoesto gold project as a "great opportunity" because it would be
"a major economic boost for a town of 5,000 inhabitants which is
suffering from a demographic downturn."
Corcoesto Public Consultation
On October 14th, the Company held its first public consultation
with the citizens of the Cabana de Bergantinos region which is the
municipality surrounding the Corcoesto Gold Project in Galicia,
Spain. The meeting was led by Edgewater's Country Manager, Lluis
Boixet, who discussed the current status and work timeline of the
Corcoesto Gold Project with approximately 70 people who were in
attendance. Subject to a positive outcome of the Corcoesto PEA, the
feasibility and permitting timeline was tabled leading to a
discussion of the potential economic benefits of the project to the
local region. During these discussions the Company's attention to
minimizing the impact of the future operation on the local
environment was given top emphasis. The meeting, the first of its
kind in the region, provided a platform for the local citizens and
special interest groups in attendance to ask questions and share
their views. Several journalists were in attendance at the meeting,
with meeting coverage provided by the local press including; "La
Voz de Galicia", "El Ideal Gallego", "La Opinion" and "El Correo
Gallego".
"We would like to thank the many citizens who attended the
meeting to hear about the Corcoesto gold project," stated President
and CEO George Salamis. "The project is still at the initial stages
of economic study and permitting, however our policy of open
communication and transparency with the local community remains at
the forefront of what we do. What we are hearing from the community
in these discussions is that our strict attention to minimizing the
project's environmental impact and developing the deposit in a
sustainable manner should be our top priority at Corcoesto. This is
and always will be our policy going forward." Additionally, Mr.
Salamis added, "I am very excited to have Francisco a part of our
growing team; he is very familiar with permitting gold projects in
Spain and has been involved in bringing some of the modern projects
that are in production to fruition, I look forward to working
together to hopefully build Galicia's next major mine."
A Decade of Mine Permitting Precedents in Spain
The awakening interest in metal mining in Spain has been
demonstrated in recent years with the opening of seven new mines
across the country. In 2011 alone, two gold mines have resumed
activity in Asturias requiring entirely new mine permits, in
addition to the granting of an exploitation permit of a
Tin-Tungsten mine in Galicia, within 65 km of Corcoesto itself.
These newly permitted mines close to Corcoesto are in addition to
the permitting and opening of four new mines in the last 8 years in
Huelva, Badajoz, Seville and Salamanca, as shown in the table
below.
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Year
Deposit Company Location Metal Permitted Opening
--------------------------------------------------------------------------
El Valle RNGM/Kinbauri Asturias Au-Cu Year 2006 Jul-11
--------------------------------------------------------------------------
Carles RNGM/Kinbauri Asturias Au-Cu Year 2006 Jul-11
--------------------------------------------------------------------------
Aguas Tenidas Matsa Huelva Cu-Pb-Zn Nov-07 Sep-09
--------------------------------------------------------------------------
Agua Blanca RNR/Lundinmining Badajoz Ni-Cu Sep-03 Jan-05
--------------------------------------------------------------------------
Los Cruces INMET Seville Cu Nov-06 Nov-08
--------------------------------------------------------------------------
Los Santos DAYTAL Salamanca W Jan-07 Jun-08
--------------------------------------------------------------------------
San Finx Incremento Group A Coruna Sn-W- first 2011 Jul-11
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About Edgewater Exploration Ltd.
Edgewater is a mineral exploration company focused principally
on acquisitions, advancement and development of precious metal
properties. Edgewater is currently developing the Enchi Gold
Project in Ghana, West Africa and the Corcoesto Gold Project in
Northwest Spain.
On behalf of the board of EDGEWATER EXPLORATION LTD.
George Salamis, President and CEO
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 release.
Contacts: Edgewater Exploration Ltd. Ryan King Vice President
(604) 628-1012rking@edgewaterx.comwww.edgewaterx.com
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