Rusoro Responds to Comments Concerning Venezuelan Gold Sector
18 Août 2011 - 2:30PM
Marketwired
Rusoro Mining Ltd. (TSX VENTURE: RML) ("Rusoro") wishes to clarify
that it has had no indication from the Government of Venezuela of
any changes to the Company's operations in regards to certain
statements in the media concerning nationalization of gold projects
in Venezuela.
The statements quoted referenced the Venezuelan Government's
wish to control serious ongoing problems with widespread illegal
mining operations and smuggling within the remote southeastern
region of the country.
Rusoro President and CEO Andre Agapov states that, "We believe
the Government's announcement is targeted toward the many illegal
mining operations in Bolivar State that operate without government
permits and continue to cause significant environmental damage
through indiscriminant deforestation and the use of mercury. Gold
produced by these illegal operations is often smuggled out of the
country or sold illegally, and the government is now taking
action."
Rusoro continues to produce gold from two operations, the open
pit Choco 10 mine and the high grade underground Isidora mine, a
50/50 joint venture with the Venezuelan Government. The Company
continues to advance two additional development projects, the
Increible 6 project which will provide additional oxide ore for the
Choco 10 mill and the underground SREP project.
ON BEHALF OF THE BOARD
Andre Agapov, President & CEO
Forward-looking statements: This document contains statements
about expected or anticipated future events and financial results
that are forward-looking in nature and as a result, are subject to
certain risks and uncertainties, such as general economic, market
and business conditions, the regulatory process and actions,
technical issues, new legislation, competitive and general economic
factors and conditions, the uncertainties resulting from potential
delays or changes in plans, the occurrence of unexpected events,
and the Company's capability to execute and implement its future
plans. Actual results may differ materially from those projected by
management. For such statements, we claim the safe harbour for
forward-looking statements within the meaning of the Private
Securities Legislation Reform Act of 1995.
"Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release."
Contacts: Rusoro Mining Ltd. Andre Agapov President & CEO
604-632-4044 or Toll Free: 1-800-668-0091 604-632-4045 (FAX)
info@rusoro.com www.rusoro.com
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