Bell Mountain Gold Project Achieves Environmental Milestone
NEWS RELEASE
NR: 20-05
April 15th, 2020
Bell Mountain Gold Project Achieves Environmental Milestone
Vancouver
BC,
April
15th,
2020-
Eros
Resources
Corp.
(TSX-V:
“ERC”
“Eros”
or
the
“Company”)
is
pleased
to
announce
that
the
Bureau
of
Land
Management
(the
“BLM”)
has
provided
a
Finding
of
No
Significant
Impact
(“FONSI”)
on
the
Environmental
Assessment
(“EA”)
of
Eros’
Bell
Mountain
Gold
Project in Nevada.
The
Finding
of
No
Significant
Impact
in
the
Decision
Record
of
the
EA
is
a
key
step
in
advancing
the
Bell
Mountain
Gold
Project
toward
production,
and
a
significant
milestone
for
Eros
in
general.
This
ruling
ensures
that
our
proposed
mine
operations
at
the
Bell
Mountain
site
can
proceed
without
significant
environmental
hurdles
and,
when
combined
with
the
Record
of
Decision
from
the
Department
of
the
Navy
confirming
that
the
Bell
Mountain
property
will
not
be
encumbered
by
the
Fallon Naval Air Station expansion, amounts to an extremely positive 1
st
quarter for Eros.
Mr.
Ron
Netolitzky,
President
and
CEO
of
Eros,
stated:
“We
are
very
pleased
with
the
advances
made
in
permitting
and
are
excited
about
the
proposed
operations
at
our
Bell
Mountain
Gold
Project.
I
thank
our technical team in Nevada, along with our consultants, for their work.”
The
Bell
Mountain
Gold
Project
is
located
86
kilometres
(54
miles)
southeast
of
Fallon
in
Churchill
County,
Nevada.
Eros
submitted
its
Bell
Mountain
Mine
Plan
of
Operations
(“MPO”)
to
the
Carson
City
Field
Office
of
the
BLM
on
August
18,
2018
and
has
been
aggressively
pursuing
permits
for
full
mining development and operations.
The
Environmental
Assessment
of
the
Eros’
MPO,
undertaken
by
the
BLM
and
its
environmental
specialists
in
accordance
with
the
National
Environmental
Policy
Act,
concluded
with
a
FONSI
dated
March
26th,
2020,
meaning
the
voluntary
design
features
and
environmental
protection
measures
as
outlined
by
Eros
in
the
MPO
are
considered
to
adequately
mitigate
and/or
protect
natural
resources
and
habitat and prevent significant impacts to public land.
A
copy
of
the
Environmental
Assessment
and
other
related
documents
are
available
on-line
at:
https://go.usa.gov/xd2Ja
.
The
applicable
news
release
published
by
BLM,
can
be
accessed
at:
https://www.blm.gov/press-release/blm-approves-bell-mountain-mine-project
About Bell Mountain
Eros’
100%
owned
Bell
Mountain
Gold
Project
is
located
near
Fallon,
Nevada.
Highlights
of
the
Preliminary
Economic
Assessment
that
was
completed
in
2017
(See
Eros’
press
release
of
October
11,
2017) and which has not been updated for current gold and silver pricing, include:
●
Pre-tax
net
present
value
(“NPV”
@
5%
and
internal
rate
of
return
(“IRR”)
of
$17.6
million
and
41.4%
respectively,
along
with
a
payback
period
of
1.7
years,
using
a
USD
$1,300/oz
price
of
gold and a USD $17.50/oz price of silver.
●
After
tax
NPV
@
5%
and
IRR
of
$9.3M
and
24.7%
respectively,
with
a
payback
period
of
2.7
years.
●
4
year
mine
life,
with
total
production
of
60,056
ounces
of
gold
and
408,498
ounces
of
silver,
before expansion based on renewed exploration.
●
Life
of
mine
cash
cost
of
$759
per
produced
ounce,
net
of
by-product
silver
and
including
royalty payments totalling $2.56 million.
For further details, please refer to
www.sedar.com
Eros
has
engaged
McClelland
Laboratories
in
Reno,
NV
to
estimate
capital
and
operating
costs
(±20%)
for
the
Bell
Mountain
Gold
Project.
Subsequent
data
will
be
used
to
update
the
present
economic
model.
Eros
operates
in
the
USA
through
its
100%
owned
subsidiary
Bell
Mountain
Mining
Corp.,
a
Nevada
corporation based in Carson City Nevada.
Qualified Person
Mr.
Jeffrey
Wilson
of
Carson
City,
Nevada,
is
a
consulting
geologist
to
Eros.
Mr.
Wilson
is
a
"Qualified
Person"
within
the
context
of
National
Instrument
43-101,
is
responsible
for
the
preparation
of this news release and has read and approved its technical aspects.
About Eros
Eros
Resources
Corp.
is
a
Canadian
public
company
listed
on
the
Toronto
Venture
Exchange.
The
Company’s
business
objective
is
the
identification,
acquisition
and
exploration
of
advanced-stage
projects
with
a
North
American
focus.
In
addition,
the
Company
plans
to
make
strategic
investments
with a global focus on a diverse commodity base. Eros managements’ expertise supports this strategy.
On Behalf of the Board of Directors of Eros Resources Corp.
Ronald K. Netolitzky
President & CEO
NEITHER
THE
TSX
VENTURE
EXCHANGE
NOR
ITS
REGULATION
SERVICES
PROVIDER
(AS
THAT
TERM
IS
DEFINED
IN
THE
POLICIES
OF
THE
TSX
VENTURE
EXCHANGE)
ACCEPTS
RESPONSIBILITY
FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This
news
release
includes
certain
forward-looking
statements
or
information
that
could
cause
actual
results
to
differ
materially
from
Eros’
plans
or
expectations.
All
statements
other
than
statements
of
historical
fact
included
in
this
release,
including,
without
limitation,
statements
regarding
metallurgical
results
and
outcomes,
any
updated
technical
report,
are
forward-looking
statements
that
involve
various
risks
and
uncertainties.
There
can
be
no
assurance
that
such
statements
will
prove
to
be
accurate
and
actual
results
and
future
events
could
differ
materially
from
those
anticipated
in
such
statements.
Forward-looking
statements
are
subject
to
a
variety
of
risks
and
uncertainties,
which
could
cause
actual
events,
level
of
activity,
performance
or
results
to
differ
materially
from
those
reflected
in
the
forward-looking
statements,
including,
without
limitation:
risks
relating
to
the
actual
results
of
current
exploration
activities,
fluctuating
gold
prices,
possibility
of
equipment
breakdowns
and
delays,
cost
overruns,
that
Eros
may
lose
or
abandon
its
property
interests
or
may
fail
to
receive
necessary
licences
and permits, availability of capital and financing and general economic, market or business conditions.
The
forward-looking
statements
included
in
this
news
release
are
made
as
of
the
date
hereof
and
Eros
disclaims
any
intention
or
obligation
to
update
or
revise
any
forward-looking
statements,
whether
as
a
result
of
new
information,
future
events
or
otherwise,
except
as
expressly
required
by
applicable
securities legislation.
EROS Resources Corp.
For more information, please contact:
Suite 420 - 789 West Pender Street
Lubica Keighery
Vancouver, British Columbia,
VP Corporate Development
Canada, V6C 1H2
c: 778-889-5476
T: 604-688-8115
w:
www.erosresourcescorp.com