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Verdict on Euro Sun Mining’s Environmental Case Delivered

Written by Customer Service on . Posted in Public Companies.

TORONTO, Oct. 30, 2023 (GLOBE NEWSWIRE) — Euro Sun Mining Inc., (TSX: ESM) (“Euro Sun” or the “Company”) announces that the Cluj-Napoca district court (the “Court”) delivered a judgement today requiring the Company to re-apply for their Environmental Endorsement for the Rovina Valley Project (the “Project’).

The Court ruled that the Environmental Resources Management’s certificate (“ERM Certificate”) issued by The Ministry of Environment was not valid at the time when the Company’s environmental report was submitted for obtaining the Environmental Endorsement.

The Company will not appeal this judgement and will now work on preparing new documentation for obtaining an Environmental Endorsement.

Commenting on this judgement, CEO of Euro Sun Mining, Mr. Grant Sboros, said “Although the verdict delivered was disappointing, Euro Sun will now re-submit the necessary technical documentation. The Company had prepared contingency plans for this possible outcome and remains resolute that the necessary certification will now be processed in due course. I wish to again thank our shareholders and senior leadership for their ongoing support as we work tirelessly to deliver this exceptional and vital European project.”  

About Euro Sun Mining Inc.

Euro Sun is a Toronto Stock Exchange listed mining company focused on the exploration and development of its 100%-owned Rovina Valley gold and copper project located in west-central Romania, which hosts the second largest gold deposit in Europe.

Further information:

For further information about Euro Sun Mining, or the contents of this press release, please contact Investor Relations at info@eurosunmining.com

Caution regarding forward-looking information:

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the outcome of litigation with respect to the Project; re-submission of technical documentation; and development of the Project. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR at www.sedar.com and on the Company’s website at www.eurosunmining.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such 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. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

The TSX does not accept responsibility for the adequacy or accuracy of this news release.

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