Sandy Lake Gold Inc. Declares Event of Force Majeure in Respect of Weebigee Project
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 07/27/16 -- Sandy Lake Gold Inc. ("Sandy Lake") (TSX VENTURE: SDL) announces today that it has declared an event of force majeure under the option agreement between GPM Metals Inc. ("GPM") and Goldeye Explorations Limited dated April 15, 2015 relating to the property known as the Weebigee Project (the "Option Agreement"). GPM''s rights under the Option Agreement were acquired by Sandy Lake as previously announced on July 21, 2016.
The event of force majeure results from the positions taken by local First Nations and recent discussions with the Government of Ontario, which have rendered it necessary for Sandy Lake to cease work on the Weebigee Project.
It will be necessary for Sandy Lake to engage in appropriate consultations with local First Nations with the assistance of the Government of Ontario before Sandy Lake can resume work on the Weebigee Project. Sandy Lake will provide further updates as they occur.
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 and / or accuracy of this release.
Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Sandy Lake, including, but not limited to the effect of any future discussions with local First Nations, the length of time for which the event of force majeure in respect of the Weebigee Project may continue, the nature of any resolution to the matters giving rise to such event of force majeure (if any such resolution is reached at all), the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
Contacts:
Sandy Lake Gold Inc.
Forbes Gemmell
Chief Executive Officer
(416) 845-4942
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Datum: 27.07.2016 - 16:31 Uhr
Sprache: Deutsch
News-ID 1449406
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Mining & Metals
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