Belo Sun Reports On Two Court Rulings
26 Avril 2022 - 2:26PM
Belo Sun Mining Corp. (“
Belo
Sun” or the “
Company”) (TSX: BSX; OTCQX:
BSXGF) provides a corporate update reporting on rulings by the
Court of Appeals of the Federal Justice in Brasília (the
“Court”):
The two cases before the Court were (i) the
determination of the competent authority for the environmental
permitting of the Volta Grande Gold Project (SEMAS or IBAMA) (see
press release dated July 12, 2019, link: Belo Sun Mining Corp:
News); and (ii) ruling on the suspension order against the Volta
Grande Construction License (see press release dated December 6,
2017, link: Belo Sun Mining Corp: News Releases).
The Court has verbally advised the Company of
the rulings, however it has yet to publish the written details of
the ruling. Belo Sun will provide an update on the ruling if the
written decision is materially different than what was verbally
announced by the Court once details of the decision have been
published.
SEMAS or IBAMA Authority
Belo Sun reports that a
three-judge panel of the Court has decided to postpone the ruling
on the competent permitting authority for the environmental
permitting of the Volta Grande Gold Project. The Court ruled that
all parties will be notified to present additional statements
regarding synergic impacts with the Volta Grande Gold Project.
Until the Court issues a ruling, SEMAS (State
Environmental Agency for the Government of Para) will continue to
act as the competent authority for the environmental permitting of
the Volta Grande Gold Project.
Construction License (LI)
Suspension
Belo Sun reports that a
three-judge panel decision by the Court has ruled unanimously that
it will not lift the Construction Licence suspension. The ruling of
the Court decided that SEMAS will analyze if the indigenous
studies’ conditions have been met. Furthermore, the Court ruled
that the Federal Court in Altamira will verify, after SEMAS’
decision regarding the matter, whether the Company has fulfilled
the conditions required in the Court's ruling issued in December
2017.
Belo Sun, while disappointed that the suspension
was not immediately lifted, is pleased that the company is now in a
position where the environmental licensing procedure can move
forward without having to wait for a new ruling from the Court of
Appeals of the Federal Justice in Brasilia.
About Belo Sun Mining
Belo Sun is a Canadian-based mining company with
a portfolio of gold-focused properties in Brazil. The Company is
currently focused on the development of the Volta Grande Gold
Project. Belo Sun trades on the Toronto Stock Exchange under the
symbol “BSX” and on the OTCQX under the symbol “BSXGF”. For more
information, please visit www.belosun.com or contact
Investor Relations at +1 416 861- 2262
Caution regarding forward-looking
information:
This press release contains "forward-looking
information" within the meaning of applicable Canadian securities
legislation. Forward-looking information includes, without
limitation, statements regarding the cases before the Court of
Appeals of the Federal Justice in Brasília; the rulings made by the
Court and the impact of such rulings. Forward-looking information
is subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity,
performance or achievements of the Company to be materially
different from those expressed or implied by such forward-looking
information, including risks inherent in the mining industry and
risks described in the public disclosure of the Company which is
available under the profile of the Company on SEDAR
at www.sedar.com and on the Company's website
at www.belosun.com. Although the Company has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance
that such information 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 information. The Company does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
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