Sep 19 2014
True Gold Mining Inc. ("True Gold" or the "Company") is pleased to report that the Burkina Faso Council of Ministers has approved the issuance of exploitation permits (equivalent to mining permits) for the Kao and Nami deposits at the Karma Gold Project.
The Kao and Nami exploitation permits are extensions of the existing Karma Exploitation Permit received in January, 2014, which includes the development of the Goulagou I, Goulagou II and Rambo deposits.
"We now have all required permits in place, both exploitation and environmental, to fully develop all five deposits within the current Karma mine plan," stated Dwayne Melrose, President & CEO of True Gold. "With the final permits approved, detailed engineering complete, our mining fleet ordered, the barrage complete, and construction underway, we remain on track to build Burkina Faso's next gold mine and begin pouring gold by the end of 2015." By the end of September approximately USD$30.0M (23%) of the total USD$131.5M Karma Project costs will have been incurred.
The Burkina Faso Council of Ministers approved the Kao and Nami exploitation permits on September 17, 2014. Burkina Faso's expedited permitting process, which typically takes from six to eight months from the filing of an application to the granting of an exploitation permit, is a testament to the country's commitment to creating a positive and supportive mining jurisdiction.
About True Gold
True Gold Mining Inc. is where gold comes to life. We are committed to growing a successful gold exploration, development and production company, by focusing on projects with low costs, low technical risks and solid economics. The Company's board, management and technical teams have proven track records in gold exploration, development, operations and production worldwide.
Additional information about the Company and its activities may be found on the Company's website at www.truegoldmining.com and under the Company's profile at www.sedar.com.
ON BEHALF OF THE BOARD
Dwayne Melrose, President & CEO
Source: http://www.truegoldmining.com/