DPM Announces Krumovgrad EIA Procedure Restarts With Natura 2000 Compatibility Assessment
December 02 2008 - 9:31AM
Marketwired
Dundee Precious Metals Inc. (TSX: DPM)(TSX: DPM.WT)(TSX: DPM.WT.A)
(the "Company" or "DPM") received yesterday a letter from the
Bulgarian Deputy Minister of Environment and Waters requesting DPM
to prepare a Compatibility Assessment Report (the "Report") for the
Krumovgrad Gold Project (the "Project"). This Report will assess
the compatibility of the Project within the scope and purpose of
Natura 2000, the European network of protected sites, and is a
prerequisite for the issuance of a decision on the Environmental
Impact Assessment ("EIA") report of the Project. As the
compatibility assessment and the EIA procedures are aligned, the
Ministry of Environment and Waters ("MoEW") should issue a single
final resolution on both matters.
"This letter officially restarts the Krumovgrad EIA process
which has been stalled for three years. While there remains
considerable work to be completed and we need to form a dialogue
with the local community, this is a very positive step which allows
us to move forward with this exciting project." said Jonathan
Goodman President and CEO of DPM.
The letter was issued in response to a notification that the
Company filed with the MoEW in September 2008 in compliance with
the Bulgarian legislation related to Natura 2000 and indicates that
their request was issued in view of the instructions for completion
of the EIA procedure, provided for in the Resolution of the Supreme
Administrative Court of June 13, 2007. The letter also states that
following the submission of the requested documents, both the EIA
and the Report shall be submitted for consideration by the Supreme
Expert Environmental Council at the MOEW to render a decision under
Article 99, Paragraph 2 of the Environmental Protection Act.
Dundee Precious Metals Inc. is a Canadian based, international
mining company engaged in the acquisition, exploration, development
and mining of precious metals. It owns the Chelopech Mine, a
producing gold/copper mine, and the Krumovgrad Gold Project, a
mining development project, both located in Bulgaria, and is
engaged in mineral exploration activities in Serbia. In addition,
DPM owns the Back River gold exploration project in Nunavut, Canada
and a 95% interest in the Kapan Mine in Armenia.
FORWARD LOOKING STATEMENTS
This news release may contain certain information that
constitutes forward-looking statements. Forward-looking statements
are frequently characterized by words such as "plan," "expect,"
"project," "intend," "believe," "anticipate" and other similar
words, or statements that certain events or conditions "may" or
"will" occur. Forward-looking statements are based on the opinions
and estimates of management at the date the statements are made,
and are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ
materially from those projected in the forward-looking statements.
These factors include the inherent risks involved in the
exploration and development of mineral properties, the
uncertainties involved in interpreting drilling results and other
geological data, fluctuating metal prices and other factors
described above and in the Company's most recent annual information
form under the heading "Risk Factors" which has been filed
electronically by means of the Canadian Securities Administrators'
website located at www.sedar.com. The Company disclaims any
obligation to update or revise any forward-looking statements if
circumstances or management's estimates or opinions should change.
The reader is cautioned not to place undue reliance on
forward-looking statements.
Contacts: Dundee Precious Metals Inc. Jonathan Goodman President
and Chief Executive Officer (416) 365-2408 Email:
jgoodman@dundeeprecious.com Dundee Precious Metals Inc. Gabriela M.
Sanchez Vice President, Investor Relations (416) 365-2549 Email:
gsanchez@dundeeprecious.com
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