VANCOUVER, Aug. 1, 2014 /PRNewswire/ - Veris Gold Corp.
("Veris" or the "Company") (OTCQB: YNGFF) announced today that
it has obtained an order from the Supreme Court of British Columbia extending the period of the
Court-ordered stay of proceeding against Veris and its subsidiaries
under the Companies' Creditors Arrangement Act ("CCAA") up to and
including September 4, 2014. The
Company has been operating under the protection of the CCAA since
June 9, 2014.
All inquiries regarding Veris' CCAA proceedings
should be directed to the Monitor, Ernst & Young: Mr.
Rocky Ho at (604) 891-8425.
Information about the CCAA proceeding, including copies of all
court orders and the Monitor's reports, is available at the
Monitor's website: www.ey.com/ca/verisgold.
About Veris Gold Corp.
Veris Gold Corp. is a growing mid-tier North American gold
producer in the business of developing and operating gold mines in
geo-politically stable jurisdictions. The Company's primary assets
are the permitted and operating Jerritt Canyon processing plant and
gold mines located 50 miles north of Elko, Nevada, USA. The Company's primary focus
is on the re-development of the Jerritt Canyon mining and
processing plant. The Company also holds a portfolio of precious
metals properties in British
Columbia and the Yukon Territory,
Canada, including the Ketza River Property.
On behalf of
"VERIS GOLD CORP."
François Marland
President and CEO
To be added to the Veris Gold e-mail list please
sign up at www.verisgold.com.
The TSX has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release. All material information
may be accessed at www.sedar.com.
Forward-Looking Statements This news
release contains "forward-looking statements" and "forward-looking
information" within the meaning of applicable securities
regulations in Canada and
the United States (collectively,
"forward-looking information"). Forward-looking information
includes, but is not limited to, statements with respect to
estimated mineral resources, anticipated effect of the completed
drill results on the operations at Jerritt Canyon, the
interpretation of those results, and timing and expectations of
future work programs. Often, but not always, forward-looking
information can be identified by the use of words such as "plans",
"expects, "is expected", "budget", "scheduled", "estimates",
forecasts", "intends", "anticipates", or "believes", "has the
potential" or the negatives thereof 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. The forward-looking information contained in this
news release is based on certain assumptions that the Company
believes are reasonable, including, with respect to mineral
resource estimates, the key assumptions and parameters on which
such estimates are based, as set out in this news release and the
technical report for the property, that the current price of and
demand for gold will be sustained or will improve, the supply of
gold will remain stable, that the general business and economic
conditions will not change in a material adverse manner, that
financing will be available if and when needed on reasonable terms
and that the Company will not experience any material accident,
labor dispute, or failure of plant or equipment.
However, forward-looking information involves
known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the
Company to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking information. Such factors include, among others,
conclusions of economic evaluations, the risk that actual results
of exploration activities will be different than anticipated, that
cost of labour, equipment or materials will increase more than
expected, that the future price of gold will decline, that mineral
resources and reserves are not as estimated, that actual costs or
actual results of reclamation activities are greater than expected;
that changes in operations may result in increased costs,
unexpected variations in mineral resources and reserves, grade or
recovery rates, failure of plant, equipment or processes to operate
as anticipated, accidents, labour disputes and other risks
generally associated with mining. See our Annual Information
Form for additional information on risks, uncertainties and other
related factors. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking statements,
there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. The Company does not
undertake to update any forward-looking statements that are
incorporated by reference herein, except in accordance with
applicable securities laws.
SOURCE Veris Gold Corp.
