Gold Reserve Provides Venezuela Update (NR 17-08)
Current and ongoing activities related to
Meetings have been held with the
Ministry of Environment(MINEA) to "fast track" permitting as established in the Mining Arch Decree. Siembra Minera expects to receive initial permits in the immediate future and thereafter break ground to execute the Early-Works construction program with contractors mobilizing to the site shortly. Early work activities include site clearing, road work excavation and building, development of sediment control structures, and excavation for (1) overland conveyor corridor, (2) powerline corridor, (3) process plant and man-camp areas, (4) tailings dam, (5) opening of the rock quarry and (6) drainage of pit areas.
- The initiative to fast track saprolite production has been well received by MINEA as it should have a positive impact in remediating the area after 50 plus years of artisanal mining. Testing and saprolite process mill design is expected to commence shortly.
Siembra Minera’s team of consulting experts are scheduled to visit the
project area this week to conduct initial assessments and
implementation of long-term small miner, indigenous and public
community consultations on the project. In addition, the consultants
will be accompanied by personnel from the
Ministry of the Popular Power for Ecological Mining Development, Mission Piar, and MINEA.
- Siembra Minera is also working with the local communities on developing a strategy to contain and eventually eradicate the current malaria epidemic.
The Company also reported today that it has received the second
installment payment of
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This release contains “forward-looking statements” within the meaning
of applicable U.S. federal securities laws and “forward-looking
information” within the meaning of applicable Canadian provincial and
territorial securities laws and state Gold Reserve’s and its
management’s intentions, hopes, beliefs, expectations or predictions for
the future including without limitation statements with respect to the
payments contemplated by the Settlement Agreement, as amended and the
development of the Brisas Cristinas project, including the preparation
of a revised feasibility study, a revised environmental impact statement
and a Preliminary Economic Assessment (“PEA”) for the project and the
pursuit of financing arrangements by
We caution that such forward-looking statements involve known and
unknown risks, uncertainties and other risks that may cause the actual
outcomes, financial results, performance, or achievements of
This list is not exhaustive of the factors that may affect any of
Gold Reserve’s forward-looking statements. Investors are cautioned not
to put undue reliance on forward-looking statements. All subsequent
written and oral forward-looking statements attributable to
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.
Gold Reserve Inc.
A. Douglas Belanger, 509-623-1500