Almaden Announces Court Decision in respect of Environmental Permit Application for the Ixtaca Precious Metals Project, Mexic...
September 09 2020 - 08:30AM
Almaden Minerals Ltd. (“Almaden” or “the Company”; TSX:
AMM; NYSE American: AAU) is pleased to report that the
second district court in Puebla (the "Court") has issued a decision
in respect of the “incident” filed by Almaden's Mexican subsidiary
on February 4 of this year.
As reported previously by the Company (see press
release of February 27, 2020), Almaden's subsidiary filed this
"incident" to challenge an October, 2019 decision by Mexico’s
environmental authority (“SEMARNAT”) to suspend its review of the
Ixtaca project’s environmental permit application ("MIA") until
resolution of legal proceedings (the “Amparo”) regarding certain of
the Company’s mineral concessions which encompass the area of the
Ixtaca project. In April 2019, a lower court ruling in the
Amparo found Mexico’s mineral title system unconstitutional. That
ruling has been appealed by each of the Mexican Congress, Senate,
Secretary of Economy and mining authorities, as well as Almaden as
an interested Party. These appeals are in the process of being
studied for resolution (for further discussion of the Amparo, see
press release of February 27, 2020).
By filing the "incident", the Company wished to
demonstrate that SEMARNAT is not a party to the Amparo and
therefore its decision to suspend the permitting process should be
revisited, as SEMARNAT has no legal basis to link its
administrative review of the MIA to the Amparo.
In its recent decision, the Court dismissed the
“incident” principally on the basis that SEMARNAT is not a party to
the Amparo. Furthermore, in a related communication with SEMARNAT,
the Court also confirmed that the existence of the Amparo does not
prevent SEMARNAT from resolving the MIA permit application and that
SEMARNAT is free to act within its jurisdiction and authority in
respect of the MIA review. The Ministry of the Economy, the Mining
Authorities, the Congress, Senate, and the Office of the Presidency
all made submissions to the Court as part of this decision.
The Company awaits a response from SEMARNAT to
the Court decision. Almaden will update shareholders when it has
more information regarding the impact of this decision on
SEMARNAT's review of the MIA permit.
About AlmadenAlmaden Minerals
Ltd. owns 100% of the Ixtaca project in Puebla State, Mexico,
subject to a 2.0% NSR royalty held by Almadex Minerals Ltd. The
Ixtaca Gold-Silver Deposit was discovered by Almaden in 2010.
On Behalf of the Board of Directors,
“J. Duane Poliquin” J. Duane
PoliquinChairmanAlmaden Minerals Ltd.
Forward Looking Statements
Certain of the statements and information in
this news release constitute “forward-looking statements” within
the meaning of the United States Private Securities Litigation
Reform Act of 1995 and “forward-looking information” within the
meaning of applicable Canadian provincial securities laws. All
statements, other than statements of historical fact, are
forward-looking statements or information. Forward-looking
statements or information in this news release relate to, among
other things: the outcome of the Company’s challenge of SEMARNAT’s
suspension of the MIA; whether SEMARNAT will accept the MIA; and
the outcome of the Amparo proceedings.
These forward-looking statements and information
reflect the Company’s current views with respect to future events
and are necessarily based upon a number of assumptions, including
assumptions in respect of both Almaden’s and the applicable Mexican
Authorities’ legal positions, that, while considered reasonable by
the Company, are inherently subject to significant legal,
regulatory, business, operational and economic uncertainties and
contingencies, and such uncertainty generally increases with
longer-term forecasts and outlook. These assumptions include:
stability and predictability in Mexico’s mineral tenure, mining,
environmental and agrarian laws and regulations, as well as their
application and judicial decisions thereon; continued respect for
the rule of law in Mexico; prices for gold, silver and base metals
remaining as estimated; currency exchange rates remaining as
estimated; availability of funds; capital, decommissioning and
reclamation estimates; mineral reserve and resource estimates;
prices for energy inputs, labour, materials, supplies and services
(including transportation); no labour-related disruptions; all
necessary permits, licenses and regulatory approvals being received
in a timely manner; the ability to secure and maintain title and
ownership to properties and the surface rights necessary for
operations; community support in the Ixtaca Project; and the
ability to comply with environmental, health and safety laws. The
foregoing list of assumptions is not exhaustive.
The Company cautions the reader that
forward-looking statements and information involve known and
unknown risks, uncertainties and other factors that may cause
actual results and developments to differ materially from those
expressed or implied by such forward-looking statements or
information contained in this news release. Such risks and other
factors include, among others, risks related to: political risk in
Mexico; crime and violence in Mexico; corruption; environmental
risks, including environmental matters under Mexican laws and
regulations; impact of environmental impact assessment requirements
on the Company’s planned exploration and development activities on
the Ixtaca Project; certainty of mineral title and the outcome of
litigation; community relations; governmental regulations and the
ability to obtain necessary licences and permits; risks related to
mineral properties being subject to prior unregistered agreements,
transfers or claims and other defects in title; changes in mining,
environmental or agrarian laws and regulations and changes in the
application of standards pursuant to existing laws and regulations
which may increase costs of doing business and restrict operations;
as well as those factors discussed the section entitled "Risk
Factors" in Almaden's Annual Information Form and Almaden's latest
Form 20-F on file with the United States Securities and Exchange
Commission in Washington, D.C. Although the Company has attempted
to identify important factors that could affect the Company and may
cause actual actions, events or results to differ materially from
those described in forward-looking statements or 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 our forward-looking statements or information will prove to be
accurate. Accordingly, readers should not place undue reliance on
forward-looking statements or information. Except as required by
law, the Company does not assume any obligation to release publicly
any revisions to on forward-looking statements or information
contained in this news release to reflect events or circumstances
after the date hereof or to reflect the occurrence of unanticipated
events.
Contact Information:
Almaden Minerals Ltd. Tel. 604.689.7644 Email:
info@almadenminerals.comhttp://www.almadenminerals.com/
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