|Wed Nov 19, 2014|
Columbus Gold Completes Environmental Baseline Field Studies at Montagne d'Or Gold Deposit
|Vancouver, BC, Canada, November 19, 2014. Columbus Gold Corporation (CGT: TSX-V, CBGDF: OTCQX) ("Columbus Gold") is pleased to report on the progress of the Environmental and Social Impact Assessment ("ESIA") on Columbus Gold's Montagne d'Or Gold Deposit, Paul Isnard Project, French Guiana.The ESIA is being completed by Montreal-based WSP.|
The field work for baseline environmental studies and a first round of stakeholders' consultations concluded in early November 2014. The completion of the preliminary environmental assessment report and development of the ESIA study Terms of Reference are scheduled for January, 2015, to support a Preliminary Economic Assessment ("PEA") on the Montagne d'Or Gold Deposit by the end of Q1-2015.
Baseline field studies completed during the current year include: geomorphology, landscape, hydrogeology; surface and groundwater quality, soils and sediments sampling; biodiversity inventories; hydrology, meteorology, air quality, noise; archaeology and cultural heritage.
The submission of a comprehensive ESIA to the French government Ministry for Ecology, Sustainable Development and Energy, is targeted for September 2016 in connection with the planned completion of a final bankable feasibility study ("BFS") by March 2017.
WSP is one of the world's leading professional services firms with 17,000 employees working in more than 300 offices located in 30 countries, on 5 continents. For over 30 years, WSP's personnel have been providing environmental services to improve the sustainability, acceptability and profitability of mining projects. The WSP team of environmental and social experts involved in the Paul Isnard Project includes specialists provided by GéoPlusEnvironnement, the second largest consulting firm specialized in the mining sector in France, and BIOTOPE, the most important consulting firm in France specialized in ecological expertise which has a regional office in Cayenne, French Guiana.WSP and its partners have conducted environmental studies of gold mining projects in many countries and regions, including Canada, Burkina Faso and French Guiana.
All studies are being funded by Nord Gold N.V. (LSE: NORD LI) ("Nordgold") as part of a 3 year minimum US$30 million exploration and development program pursuant to which Nordgold can earn a 50.01% interest in Montagne d'Or on the Paul Isnard mineral titles, by completing a BFS by March 2017.
ON BEHALF OF THE BOARD,
Robert F. Giustra
Chairman & 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.
For more information contact:
Peter A. Ball
Senior Vice President
VP Communications & Technology
This release contains forward-looking information and statements, as defined by law including without limitation Canadian securities laws and the "safe harbor" provisions of the US Private Securities Litigation Reform Act of 1995 ("forward-looking statements"), respecting Columbus Gold's: completion of preliminary environmental assessment report and the ESIA study Terms of Reference ("ToR"); completion of the PEA; submission of ESIA to the French government; and projected funding and exercise of its option in Montagne d'Or by Nord Gold N.V. pursuant to the terms of the option agreement and the related completion of the BFS. Forward-looking statements involve risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by the forward-looking statements, including: the ability to acquire necessary permits and other authorizations; environmental compliance; cost increases; availability of qualified workers and drill equipment; competition for mining properties; risks associated with exploration projects including, without limitation, the accuracy of interpretations; ability to complete preliminary environmental assessment report and ToR by the stated target date or at all; ability to submit ESIA to the French government by the stated target date, or at all; ability to complete the PEA by the stated target date or at all; mineral reserve and resource estimates (including the risk of assumption and methodology errors and the ability to complete a new resource estimate); dependence on third parties for services; non-performance by contractual counterparties; title risks; risks associated with Nord Gold N.V. electing not to exercise its option and make the related option payments and the ability to complete the BFS by the stated deadline or at all; and general business and economic conditions. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including without limitation assumptions about: that the design of the drill plan is appropriate for the site; general business and economic conditions; the timing and receipt of required approvals; availability of financing; power prices; ability to procure equipment and supplies including, without limitation, drill rigs; and ongoing relations with employees, partners, optionees and joint venturers. The foregoing list is not exhaustive and Columbus Gold undertakes no obligation to update any of the foregoing except as required by law.
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