VANCOUVER,
Dec. 20, 2011 /PRNewswire/ - Guyana
Frontier Mining Corp. ("Guyana
Frontier") announced today that an injunction obtained in
March 2011 by Ignatius Timmerman
("Timmerman") against the Guyana Geology and Mines Commission (the
"GGMC") and Odinga Lumumba
("Lumumba"), one of the principals of Mariwa Mining Company Inc.
("Mariwa Mining") was ordered discharged on December 15, 2011 by the High Court of
Guyana. Guyana Frontier was previously discharged as a
defendant to the injunction on May 25,
2011. Timmerman had sought the injunction to prevent the
defendants from denying him access to the Sardine Hill property
("Sardine Hill"), which totals 10,427 acres, or 4,220 ha., located
in Guyana, South America, about 90 km from the city of
Georgetown.
Timmerman alleges to hold five mining claims
totaling approximately 138 acres (55.8 ha.) within the boundaries
of the Sardine Hill prospecting licence, and conducts a surface
gold mining operation there. Mariwa Mining filed a complaint with
the GGMC in early 2011 stating that Timmerman's mining claims were
invalid. On March 17, 2011, the GGMC
acted on Mariwa Mining's complaint and evicted Timmerman and his
mining equipment from Sardine Hill. On March
23, 2011, Timmerman applied for and was granted an ex parte
injunction against the GGMC, Lumumba, and Guyana Frontier, which
allowed him to recommence gold mining operations at Sardine
Hill.
The purpose of the December
15, 2011 court hearing, which was subject to various delays
since August 2011, was for Timmerman
to answer sworn affidavits submitted to the court by the GGMC and
Lumumba in June 2011, each stating
that Timmerman's alleged mining claims have no legal standing. The
GGMC stated in their June 2011
affidavit that Timmerman was notified since November 1996 that the alleged claims had been
declared null and void. Neither Timmerman nor his counsel appeared
at the December 15th hearing, and the
court ordered the injunction discharged.
Lumumba is one of the two principals of Mariwa
Mining, a private Guyanese corporation, which is the legal holder
of the Sardine Hill prospecting licence that was granted to it by
the GGMC in early 2010. Guyana Frontier, the operator of
explorations at Sardine Hill, has an option to acquire all of the
issued and outstanding shares of Mariwa Mining by making cash and
share payments over a period of up to five years (see Guyana
Frontier News Release dated April 6,
2010). Mulgravian Ventures Corporation, a private
Canadian mineral exploration company, has the option to acquire a
51% interest in Sardine Hill from Guyana Frontier by fulfilling a
schedule of exploration expenditures and common share purchase
obligations (see Guyana Frontier News Release dated June 8, 2010).
About Guyana Frontier
Guyana Frontier is a public mineral exploration
company listed on the TSX Venture Exchange (TSX-V: GYG), and is
focused on the exploration, discovery and development of precious
metals deposits located within Guyana, South
America. Guyana Frontier began acquiring interests in
Guyanese exploration properties in 2007, and now holds various
rights to obtain working interests in approximately 342,000 acres
(138,400 hectares) of prospective lands. Guyana Frontier's goal is
to develop a significant gold resource at the Marudi Mountain Gold
Project, and to explore its other Guyanese projects using funding
from exploration partners. For further information about Guyana
Frontier, please visit our website at www.guyanafrontier.com or
contact Warren Stanyer, President
and CEO, at 604-558-0077.
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.
FORWARD LOOKING STATEMENTS
This release contains "forward-looking
statements" within the meaning of applicable Canadian securities
legislation, including predictions, projections and
forecasts. Forward-looking statements include, but are not
limited to, statements that address activities, events or
developments that Guyana Frontier expects or anticipates will or
may occur in the future, including such things as the results of
litigation in respect of the Sardine Hill property, future
exploration activities on the Sardine Hill property, future
business strategy, competitive strengths, goals, expansion, growth
of Guyana Frontier's businesses, operations, plans and with respect
to exploration results generally, the timing and success of
exploration activities generally, permitting time lines, government
regulation of exploration and mining operations, environmental
risks, title disputes or claims, limitations on insurance coverage,
timing and possible outcome of any pending litigation and timing
and results of future resource estimates or future economic
studies.
Often, but not always, forward-looking
statements can be identified by the use of words such as "plans",
"planning", "planned", "expects" or "looking forward", "does not
expect", "continues", "scheduled", "estimates", "forecasts",
"intends", "potential", "anticipates", "does not anticipate", or
"belief", or describes a "goal", or variation of such words and
phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be
achieved.
Forward-looking statements are based on a number
of material factors and assumptions, including, the result of
litigation proceedings, drilling and exploration activities,
that contracted parties provide goods and/or services on the agreed
timeframes, that equipment necessary for exploration is available
as scheduled and does not incur unforeseen break downs, that no
labour shortages or delays are incurred, that plant and equipment
function as specified, and that no unusual geological or technical
problems occur. Forward-looking statements involve known and
unknown risks, future events, conditions, uncertainties and other
factors which may cause the actual results, performance or
achievements to be materially different from any future results,
prediction, projection, forecast, performance or achievements
expressed or implied by the forward-looking statements. Such
factors include, among others, negotiations with parties to
litigation matters, the interpretation and actual results of
current exploration activities; changes in project parameters as
plans continue to be refined; future prices of minerals; possible
variations in grade or recovery rates; failure of equipment or
processes to operate as anticipated; the failure of contracted
parties to perform; labour disputes and other risks of the mining
industry; delays in obtaining governmental approvals or financing
or in the completion of exploration, as well as those factors
disclosed in the company's publicly filed documents. Although
Guyana Frontier has attempted to identify important factors that
could cause actual actions, events or results to differ materially
from those described in forward-looking statements, 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
forward-looking statements 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 statements.
SOURCE Guyana Frontier Mining Corp.