G Mining Ventures Receives Operating Licenses for Tocantinzinho
G Mining Ventures Receives Operating Licenses for
Tocantinzinho
TSX: GMIN
OTCQX: GMINF
All amounts are in USD unless stated otherwise
The receipt of the Operating Licenses marks the last remaining permitting milestone for commercial operation
Tocantinzinho remains on track to commercial production in H2-24
BROSSARD, QC
,
Aug. 28, 2024
/CNW/ -
G Mining Ventures Corp.
("
GMIN
" or the "
Corporation
") (TSX: GMIN)
(OTCQX: GMINF) is pleased to announce that it has received the Operational Licenses for GMIN's 100%-owned
Tocantinzinho Gold Project ("
TZ
" or the "
Project
") in the State of Pará,
Brazil
– the last remaining permitting milestone for
commercial operation.
The Project remains on time and budget for commercial production in the second half of
2024.
The Licences received from the Pará State Environmental Agency, Secretaria de Estado de Meio Ambiente e
Sustentabilidade ("
SEMAS
"), include the Operating Licence for mining, processing plant, tailings facilities and the new
airstrip. Receipt of these licenses marks the successful completion of all project construction activities and authorizes the
mine to commence operations at full capacity.
Louis-Pierre Gignac
, President & Chief Executive Officer
, commented: "
This final step in the regulatory approval
process for TZ is a testament to
Brazil's
mining-friendly business environment, its well-structured permitting process and
our team's commitment to excellence in everything we do. I am thrilled by the achievement of this major milestone and
continue to be excited as I witness the steady progress being made in commissioning the plant allowing us to achieve
commercial production in the very near term."
Project Development Timeline
The Project remains on track and budget for commercial production in H2-2024.
Project Schedule (CNW Group/G Mining Ventures Corp)
Virtual Site Tour and Feasibility Study Presentation
Updated satellite imagery and 360 photography showing the site progress is available through the corporate presentation at:
https://vrify.com/decks/14338
. A 3D presentation of the Project Feasibility Study is available at:
Feasibility Study 3D VRIFY Presentation
. Both presentations can be accessed by visiting GMIN's website at
https://www.gminingventures.com
.
Timetable and Next Steps
Upcoming key milestones include:
Q3-24: Oko West Project's Preliminary Economic Assessment
Q4-24 Exploration results from both TZ and
Oko West
H2-24: Commercial production at TZ
Qualified Person
Louis-Pierre Gignac
, President & Chief Executive Officer of GMIN, a QP as defined in NI 43-101, has reviewed the press
release on behalf of the Corporation and has approved the technical disclosure contained in this press release.
About G Mining Ventures Corp.
G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF) is a mining company engaged in the acquisition, exploration and
development of precious metal projects to capitalize on the value uplift from successful mine development. GMIN is well-
positioned to grow into the next mid-tier precious metals producer by leveraging strong access to capital and proven
development expertise. GMIN is currently anchored by the Tocantinzinho Gold Project in
Brazil
and Oko West Project in
Guyana
, both mining friendly and prospective jurisdictions.
Cautionary Statement on Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release constitute "forward-looking
information" and "forward-looking statements" within the meaning of certain securities laws and are based on expectations
and projections as of the date of this press release. Forward-looking statements contained in this press release include,
without limitation, those related to (i) the Project remaining on schedule and on budget for commercial production in H2-
2024; (ii) the quoted expectations of GMIN's President & Chief Executive Officer; and
(iii) more generally,
the horizontal
bar chart entitled "Project Development Timeline" as well as the sections entitled "Timetable and Next Steps" and "About
G Mining Ventures Corp.".
Forward-looking statements are based on expectations, estimates and projections as of the time of this press release.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered
reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic
and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect.
Such
assumptions include, without limitation, those relating to the price of gold and currency exchange rates, those
outlined in the TZ Project's Feasibility Study and those underlying the items listed on the above sections entitled
"Timetable and Next Steps" and "About G Mining Ventures Corp.".
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ
materially from those expressed or implied in any forward-looking statements. There can be no assurance that, notably
but without limitation, the Corporation will (i) carry its next steps as per the above timetable, to bring the Project into
commercial production in H2-2024, or at all, (ii) grow TZ into
Brazil's
third-largest primary gold mine, or (iii) use TZ and
Oko West
to grow GMIN into the next intermediate producer, as future events could differ materially from what is currently
anticipated by the Corporation. In addition, there can be no assurance that
Brazil
and/or
Guyana
will remain mining
friendly and prospective jurisdictions.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and
risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that
assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing
information about management's expectations and plans relating to the future. Readers are cautioned not to place undue
reliance on these forward-looking statements as a number of important risk factors and future events could cause the
actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions
and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press
release are qualified by these cautionary statements and those made in the Corporation's other filings with the securities
regulators of
Canada
including, but not limited to, the cautionary statements made in the relevant sections of the
Corporation's (i) Annual Information Form dated
March 27, 2024
, for the financial year ended
December 31, 2023
, and (ii)
Management Discussion & Analysis. The Corporation cautions that the foregoing list of factors that may affect future
results is not exhaustive, and new, unforeseeable risks may arise from time to time. The Corporation disclaims any
intention or obligation to update or revise any forward-looking statements or to explain any material difference between
subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
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For further information:
Additional Information: For further information on GMIN, please visit the website at
www.gmin.gold or contact: Jessie Liu-Ernsting, Vice President, Investor Relations and Communications, 647.728.4176,
CO: G Mining Ventures Corp
CNW 06:45e 28-AUG-24