Midas Gold Provides Update on its Stibnite Gold Project
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Midas Gold Provides Update on its Stibnite Gold Project
VANCOUVER, BRITISH COLUMBIA – Midas Gold Corp. (MAX:TSX / MDRPF:OTCQX) today announced that the Nez
Perce Tribal Executive Committee has adopted a resolution formally opposing the Company’s proposed Stibnite
Gold Project. The Nez Perce Tribe is one of the three tribes being consulted by the U.S. Forest Service (“USFS”)
under the National Environmental Policy Act review process.
“Naturally, we are disappointed in the decision by the Nez Perce Tribal Executive Committee ,” said Stephen Quin,
President & CEO of Midas Gold Corp. “The resolution appears to be driven by potential impacts on natural resources
resulting from the redevelopment of the former Stibnite mining district and questions the benefits of the proposed
restoration work that is an integral part of our Plan of Restoration and Operations . The Nez Perce Tribal Executive
Committee’s resolution also notes historic impacts from mining on the environment and the Nez Perce Tribe. Midas
Gold is cognizant of the historic impacts of mining, which may nowhere be better illustrated than in the Stibnite
mining district. We have therefore, from the outset, designed our Plan of Restoration and Operations with closure
in mind by incorporating considerable restoration of legacy impacts from historic mining, and focusing on improving
water quality and fish habitat , all interests that we k now we share with the Tribe and that the public will become
more aware of as the permitting process moves forward.”
During the past several years, Midas Gold has proactively engaged with the Nez Perce Tribe, provided open access
to the site and technica l information generated in respect of the current situation at the site, in addition to plans
for restoration, operations, and for reclamation and closure. “We will continue to reach out to the Nez Perce Tribe
in a continued effort address their concerns,” said Mr. Quin.
Community Engagement
In parallel with the formal National Environment Policy Act (“NEPA”) process, Midas Gold is continuing its extensive
community and stakeholder engagement process, which has been underway for several years . The Company has
met with local communities in various settings and provided tours to the site to demonstrate the extent of the
historical disturbance in the district and Midas Gold’s comprehensive plans to remediate and restore the site.
Stibnite Gold Project Permitting Background
In September of 2016, Midas Gold Idaho, Inc. submitted its Plan of Restoration and Operations (“ PRO”) for the
restoration, re -development and operation of the Stibnite Gold Project in Valley County, Idaho. The PRO was
deemed administratively complete by the USFS in December 2016, the scoping process was completed in July 2017
and the environmental analysis and alternatives assessment is currently nearing completion .
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.
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 are 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.
NEWS RELEASE
October 10, 2018
#2018-14
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Forward-Looking Information
Statements contained in this news release that are not historical facts are "forward- looking information" or
"forward-looking sta tements" (collectively, "Forward -Looking Information") 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, dis closure regarding possible events, next steps and courses of
action including actions to be taken by the USFS , the Nez Perce Tribe, the State of Idaho and other government
agencies, tribes and regulatory bodies. 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 that certain actions, events or results
"may", “will”, "could", "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 the NEPA (including a joint review process involving the USFS, the State of Idaho and other agencies
and regulatory bodies) as well as the public comment period, scoping process and Environmental Impact Statement
will proceed in a timely manner and as expected; that Midas Gold and its affiliated entities will qualify for the Bona
Fide Prospective Purchaser (“BFPP”) defence under the Comprehensive Environmental Response, Compensation and
Liability Act (“CERCLA”) 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 the NEPA; risks relating to whether
Midas Gold and/or its subsidiaries will be deemed a BFPP under CERCLA; uncertainty surrounding input to be
received pursuant to the scoping process including but not limited to the public comment period; risks related to
dependence on key personnel; risks related to unforeseen delays in the review process including availability of
personnel from the USFS , Nez Perce and other tribes , State of Idaho and other agencies and regulatory bodies; 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 cause 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 fr om 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 Informat ion contained in this news release to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events.