Reunion Gold Comments on the Border Controversy Between Guyana and Venezuela
LONGUEUIL, Québec, Dec. 11, 2023 (GLOBE NEWSWIRE) — Reunion Gold Corporation (TSXV: RGD; OTCQX: RGDFF) (the “Company” or “Reunion Gold”) wishes to comment on the border controversy between the Co-operative Republic of Guyana and the Bolivarian Republic of Venezuela following a consultative referendum held last week in Venezuela.
The internationally recognized border between Guyana and Venezuela was established on October 3, 1899 by an arbitration panel (Arbitral Award of 3 October 1899). In 1962, Venezuela claimed that the decision was invalid. Guyana has brought this matter before the International Court of Justice in 2018 asking the Court to confirm the 1899 Arbitral Award.
The recent escalation of Venezuela claims over what is referred to as the Essequibo region is widely attributed to recent oil discoveries by ExxonMobil and other companies in offshore areas intersecting the Essequibo region, and the upcoming elections in Venezuela. The consultative referendum was asking citizens of Venezuela whether they favour the creation of a new Venezuelan state that purports to incorporate Guyana’s Essequibo region into its own territory.
Venezuela’s unilateral claim over the Essequibo Region and recent actions have been widely discredited. U.S. Secretary of State, Antony Blinken, reaffirmed last week the United States’ support for Guyana in the ongoing border controversy. Venezuela’s President Nicolas Maduro and Guyana President Mohamed Irfaan Ali have agreed to a high-level meeting on December 14th, following a flurry of diplomacy involving leaders of countries including Brazilian president Luiz Inacio Lula da Silva who will attend the meeting as an observer.
Reunion Gold wishes to emphasize that, amidst these geopolitical developments and the recent consultative referendum results, our commitment to Guyana remains steadfast. The Oko West Project exploration activities at site and development studies continue to progress as planned. The Company is dedicated to its strategy of exploring across Guyana’s diverse and mineral-rich regions, and is continuing, unabated, its efforts to establish the next large-scale mining operation in the country.
As the situation unfolds, Reunion Gold will monitor developments closely, upholding our commitment to responsible and sustainable resource exploration and development in Guyana.
About Reunion Gold Corporation
Reunion Gold Corporation is a leading gold explorer and developer in the Guiana Shield, South America. In early 2021, the Company announced an exciting new greenfield gold discovery at the Kairuni zone on its Oko West project in Guyana. The Company’s Oko West Project is situated within the Essequibo region, approximately 200 kilometers east of the disputed border.
In June 2023, the Company announced an initial Mineral Resource Estimate containing 2.475 Moz of gold in Indicated resources grading 1.84 g/t Au and 1.762 Moz of gold in Inferred resources grading at 2.02 g/t (see NI 43-101 Technical Report Oko West Gold Project dated June 1, 2023 on the Company’s website and on SEDAR+). In addition to advancing development of the Kairuni zone resource, the Company is actively exploring several additional priority exploration targets at the Oko West Project with the objective of outlining additional satellite deposits.
The Company’s common shares are listed on the TSX Venture Exchange under the symbol ‘RGD’ and trade on the OTCQX under the symbol ‘RGDFF’. Additional information about the Company is available on SEDAR+ (www.sedarplus.ca) and the Company’s website (www.reuniongold.com).
For further information, please contact:
REUNION GOLD CORPORATION
Rick Howes, President and CEO, or Doug Flegg, Business Development Advisor
E: doug_flegg@reuniongold.com
E: info@reuniongold.com
Telephone: +1 450.677.2585
Cautionary Disclaimer Regarding Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities laws (collectively, “forward-looking statements”). Statements and information that are not historical facts are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible” and similar expressions, or statements that events, conditions, or results “will”, “may”, “could” or “should” occur or be achieved. Forward-looking statements and the assumptions made in respect thereof involve known and unknown risks, uncertainties and other factors beyond the Company’s control. Forward-looking statements in this press release include statements regarding our plans to continue our programs and studies as planned as well as statements regarding beliefs, plans, expectations or intentions of the Company. Mineral exploration is highly speculative, characterized by several significant risks, which even a combination of careful evaluation, experience and knowledge may not eliminate. Risks and uncertainties include: timing and cost of exploration programs and studies; results of exploration activities including drill results; timing of completion of a PEA; uncertainties inherent with conducting business in foreign jurisdictions including corruption, civil unrest, political instability; geopolitical risks including risks related to border disputes; unanticipated title disputes; risks related to mineral resource estimates and the resource model; uncertainties related to the results of the ongoing drilling program at depth and the potential to include an underground mineral resource in the anticipated PEA; gold and other commodity price volatility; recoveries of gold; risks associated with the recurrence of COVID-19 or future pandemics; labor force shortages; delays in obtaining governmental approvals or financing; risks regarding potential and pending litigation proceedings relating to the Company’s termination of the Strategic Alliance with Barrick Gold Corporation; regulatory risks and liabilities including, regulatory environment and restrictions; metallurgical testing and recoveries and other risks of the mining industry; currency fluctuations; speculative nature of gold exploration; dilution; share price volatility; competition; and loss of key employees. Refer to the Company’s most recent annual information form dated May 9, 2023 for a description of certain risks and uncertainties.
Forward-looking statements in this press release are made as of the date herein. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements in this press release are reasonable, undue reliance should not be placed on such statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information or future events or otherwise, except as may be required by law.
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