Draft EIS on Midas Gold’s Stibnite Gold Project Set for Release Public will have an opportunity to provide comments to regulators on the Proposed Project
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Draft EIS on Midas Gold’s Stibnite Gold Project Set for Release
Public will have an opportunity to provide comments to regulators on the Proposed Project
VANCOUVER, BRITISH COLUMBIA – Midas Gold Corp. (MAX:TSX / MDRPF:OTCQX, “Midas Gold” or the
“Company”) today announced that the United States Forest Service (“USFS”) and other regulators working on the
review of the Stibnite Gold Project (“Project”) under the National Environmental Policy Act (“NEPA”), have released
their quarterly Schedule of Proposed Actions (“SOPA”), which updates the NEPA permitting schedule for the
Project. The updated schedule indicates that the USFS expects to release the Draft Environmental Impact
Statement (“Draft EIS”) for public review in August 2020. Once the much-anticipated Draft EIS is released, the public
will have an opportunity to comment on the Project, as required by NEPA .
“Almost a decade of work has gone into studying, designing and improving the Stibnite Gold Pro ject,” said Laurel
Sayer, President & CEO of Midas Gold Idaho, Inc . “The rigors of the permitting process have provided years of
additional scientific study and refinement to the Project. Once released, we are confident that the Draft EIS will
clearly illustrate the remarkable opportunity we have to use responsible, modern mining as both a path to restore
the ecosystem at the Stibnite site, and also provide the family -wage jobs, capital investment and critical minerals
our nation so clearly needs.”
The USFS has spent the last several months working to make the Draft EIS complete, comprehensive and more
accessible for the public, so stakeholders can more easily review and understand the document. Midas Gold has
worked closely with regulators to provide the technical information needed to ensure the USFS has access to the
best available science and develops the best alternative possible for the Stibnite Gold Project. The USFS brought
significant additional technical resources to the review process that have worked diligently to ensure this objective
is met. This additional effort should ultimately support a complete and robust record of decision (“ROD”) at the
conclusion of the NEPA process. The updated schedule indicates that USFS anticipates releasing a fi nal ROD in Q3
2021.
During this period, Midas Gold has continued to evaluate opportunities to further refine the Project with the
objective of reducing Project footprint, improving water quality and developing a sustainable ecosystem supporting
healthy fish populations that can access spawning grounds in the headwaters of the East Fork of the South Fork of
the Salmon River for the first time in more than 80 years. This is an iterative process between regulators and Midas
Gold designed to ensure the best outcomes for the site.
“The historical mining district where the Project is located is in desperate need of environmental repair,” said Sayer.
“Mining operations undertaken by prior operators, particularly in the WWII and Korean War era, left heavy impacts
on the site that were largely abandoned once mining concluded and only minimal reclamation undertaken. Our
Project was designed from the outset to use modern, responsible mining to restore the area by providing the
expertise and financial resources necessary to reconnect salmon to their native spawning grounds, improve water
quality and address numerous legacy issues from historical mining operations. If permitted, the Project would also
provide America with its only domestically mined source of antimony and bring more than 500 family-wage jobs to
rural Idaho.”
Joint Review Process
Seven federal, state and local agencies involv ed in permitting the Project signed the Stibnite Joint Review Process
Memorandum of Understanding (“MOU”) in 2017, committing to work together to evaluate the Plan of Restoration
and Operations (“PRO”) for the Stibnite Gold Project under NEPA. The MOU was designed so agencies could
collaborate in the review and preparation of the EIS, meet the requirements of the public process and follow a
mutually agreed upon schedule. Agency cooperation and collaboration remain key to the timeliness and
completeness of the process.
NEWS RELEASE
July 2, 2020
#2020-07
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Next Steps in the Regulatory Process
Once the Draft EIS is released, there will be a minimum 45 -day public comment period, as required by NEPA.
Immediately following the public comment period, the USFS and cooperating agencies will respond to all comments
and produce the final EIS and a draft ROD. Upon publication of the final EIS, there would be a period for objections
and resolution before the final ROD is published. A positive final decision would allow Midas Gold’s subsidiary,
Midas Gold Idaho, Inc., to seek the issuance of the final permits that are dependent on the ROD being issued.
Stibnite Gold Project Permitting Background
A detailed presentation on the PRO can be found at www.midasgoldcorp.com. Details of previous news releases and
technical studies can be found filed under Midas Gold’s profile on SEDAR ( www.sedar.com) or at
www.midasgoldcorp.com. Considerable supporting information on the Project and additional resources, such as
questions and answers about the Project, can be found at www.midasgoldidaho.com.
For further information about Midas Gold Corp., please contact:
Liz Monger -- Manager, Investor Relations
(t): 778.724.4704
(e): [email protected]
Facebook: www.facebook.com/midasgoldidaho Twitter: @MidasIdaho
Website: www.midasgoldcorp.com
About Midas Gold and the Stibnite Gold Project
Midas Gold Corp., through its wholly owned subsidiaries, is focused on the exploration and, if warranted, site
restoration and development of gold -antimony-silver deposits in the Stibnite -Yellow Pine district of central Idaho
that are encompassed by its Stibnite Gold Project.
Forward-Looking Information
Statements contained in this news release that are not historical facts are "forward- looking information" or
"forward-looking statements" (collectively, "Forward -Looking Informatio n") within the meaning of applicable
Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward
Looking Information includes, but is not limited to, disclosure regarding possible events, next steps and c ourses of
action including actions to be taken by the USFS and other state, federal and local government agencies and
regulatory bodies; the anticipated timelines under the SOPA; the expected timing for release of the Draft EIS and
the final ROD; possible outcomes of the permitting process, including the content of the Draft EIS and the support
for a complete and robust ROD; the expected benefits of the Project, once permitted; and the actions to be tain by
the USFS and cooperating agencies following the public comment period. In certain cases, Forward -Looking
Information can be identified by the use of words and phrases or variations of such words and phrases or statements
such as "anticipates", "targeted", "complete", "comprehensive", "defensible", "ensure", "potential" and "robust", in
relation to certain actions, events or results "could", "may", "will", "would", be achieved. In preparing the Forward-
Looking Information in this news release, Midas Gold has applied several material assumptions, including, but not
limited to, assumptions that the current objectives concerning the Stibnite Gold Project can be achieved and that its
other corporate activities will proceed as expected; that general business and economic conditions will not change in
a materially adverse manner; that the formal review process under NEPA (including the review process being
undertaken by the USFS and other regulators) as well as the public comment period, EIS and ROD will proceed in a
timely manner and as expected; that the circumstances surrounding the COVID -19 pandemic, although evolving,
will stabilize or at least not worsen; that the extent to which COVID-19 may impact the Company will not change in
a materially adverse manner; that agency engagement, cooperation and collaboration as contemplated under the MOU
will follow the mutually agreed upon schedule set out therein and proceed as expected and that all requisite information
will be available in a timely manner. Forward-Looking Information involves known and unknown risks, uncertainties
and other factors which may cause the actual results, performance or achievements of Midas Gold to be materially
different from any future results, performance or achievements expressed or implied by the Forward-Looking
Information. Such risks and other factors include, among others, changes in laws and regulations and changes in the
application of standards pursuant to existing laws and regulations which may result in unforeseen results in the
review process under NEPA; uncertainty surrounding input to be received pursuant to the public comment period;
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risks related to dependence on key personnel; risks related to unforeseen delays in the review process including
availability of personnel from the USFS and other regulators (including, but not limited to, future US government
shutdowns and delays related to COVID -19); risks related to opposition to the Project including litigation involving
the Nez Perce Tribe; risks related to the outcome of litigation and potential for delay of the Project , as well as those
factors discussed in Midas Gold's public disclosure record. Although Midas Gold has attempted to identify important
factors that could affect Midas Gold and may cause actual actions, events or results to differ materially from those
described in Forward- Looking Information, there may be other factors that c ause actions, events or results not to
be as anticipated, estimated or intended. There can be no assurance that Forward -Looking Information will prove
to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on Forward- Looking Information. Except as required by law,
Midas Gold does not assume any obligation to release publicly any revisions to Forward- Looking Information
contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence
of unanticipated events.
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