VANCOUVER, March 10, 2015 /PRNewswire/ - Red Eagle
Mining Corporation (TSX-V: RD, OTCQX: RDEMF) is pleased to
report that the Environmental License has been formally granted for
Red Eagle Mining's 100% owned San Ramon Gold Mine, located in
Antioquia, Colombia, in Resolution
160TH-1503-11577, dated March 9,
2015. The Environmental License was granted in full, without
conditions. This was the final permit required for
construction and mining of the San Ramon Gold Mine for the life of
the mine.
A comprehensive Environmental Impact Assessment ("EIA")
including an Environmental Management Plan ("EMP") was submitted on
February 20, 2014 to Corantioquia
(Department of Antioquia Environmental Agency). The EIA
included an Environmental Baseline Study, which was prepared by two
Colombian universities – the Universidad de Antioquia and the
Universidad Catolica del Norte, based in Santa Rosa de Osos. The EIA was prepared
by Tetra Tech, a leading international engineering firm. The
Environmental License approved both the EIA and EMP.
As previously reported, the Secretary of Mines of Antioquia
formally approved the Mining Technical Work Plan (Programa de
Trabajo y Obras or "PTO"), which was submitted in November 2013, in Resolution 121146, dated
August 12, 2014. This was the
comprehensive approval required subject to receiving the
Environmental License.
"Congratulations to our entire team in Santa Rosa de Osos and Medellin who have maintained frequent and
transparent communications with all stakeholders since we commenced
work at Santa Rosa in 2011," comments Bob Bell, Chief Operating Officer.
"Corantioquia's Oficina Territorial Tahamies, based locally
in the municipality of Santa Rosa de
Osos, whom we have worked closely with over the last three
years has shown exceptional professionalism and we look forward to
partnering with them for many years to come."
Construction is scheduled to commence in mid-2015 upon
completion of project financing with commercial production
anticipated during 2016. Once constructed San Ramon will be
the largest gold mine in Colombia
and the first gold mine operating under modern environmental
permitting legislation.
About Red Eagle Mining
Red Eagle Mining is a gold exploration and development company
with an experienced mine-development team. Management is
focused on building shareholder value through discovering and
developing gold projects with low costs and low technical risks in
Colombia, a jurisdiction with
prolific historic production but until recently limited modern
exploration. Red Eagle Mining is developing the 100 km²
historic Santa Rosa Gold Project located in the Antioquia
Batholith. Development will initially commence with the fully
permitted San Ramon Gold Mine where a positive Feasibility Study
supports project development. Construction is scheduled to
commence during 2015, subject to the completion of project
financing.
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. This news release includes
forward-looking statements that are subject to risks and
uncertainties. All statements within, other than statements
of historical fact, are to be considered forward looking.
Although the Company believes the expectations expressed in
such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future
performance and actual results or developments may differ
materially from those in forward-looking statements. Factors
that could cause actual results to differ materially from those in
forward-looking statements include market prices, exploitation and
exploration successes, continued availability of capital and
financing, and general economic, market or business conditions.
There can be no assurances that such statements will prove
accurate and, therefore, readers are advised to rely on their own
evaluation of such uncertainties. We do not assume any
obligation to update any forward-looking statements. This news
release does not constitute an offer to sell or a solicitation of
an offer to sell any securities in the United States. The
securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws and may not be
offered or sold within the United
States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
SOURCE Red Eagle Mining Corporation
