Midway Gold Corp. (TSX:MDW) announces that the comment period
for the Draft Environmental Impact Statement (EIS) for the Gold
Rock Project is planned to close March 30, 2015. The Draft EIS
became available for public comment on February 13th, 2015 as
published by the U.S. Bureau of Land Management (BLM) in the
federal register. The Draft EIS provides an analysis of
environmental, social and economic impacts of the proposed mine
plan and possible alternatives. The BLM will then address comments
from the public prior to approving the Final EIS and awarding a
Record of Decision. We thank you for your support as we continue
developing Gold Rock as our second gold project in Nevada, and we
expect to complete the federal NEPA process in 2015.
Today, Midway also published a brief, congratulatory note on a
commissioning gold pour at the Pan Mine in Nevada. We noted that a
production-scale pour is scheduled for Monday, March 30. We plan to
provide an update on our operations at Pan following this scheduled
pour.
What is NEPA?
The Environmental Impact Statement (EIS) for our Gold Rock
Project is required under the National Environmental Policy Act
(NEPA). According to “A Citizen’s Guide to NEPA,” the federal
government’s official handbook states:
“The environmental review process under NEPA provides an
opportunity for you to be involved in the Federal agency decision
making process … NEPA requires Federal agencies to consider
environmental effects that include, among others, impacts on
social, cultural, and economic resources, as well as natural
resources. Citizens often have valuable information about places
and resources that they value and the potential environmental,
social, and economic effects that proposed federal actions may have
on those places and resources. NEPA’s requirements provide you the
means to work with the agencies so they can take your information
into account.”
What is an EIS?
The Gold Rock project is on federal land and NEPA requires the
Bureau of Land Management (BLM) to analyze potential environmental
consequences of the planned project and any reasonable
alternatives. An EIS is the analysis of how the proposed project,
and possible alternatives, will impact the environment. It proposes
mitigation measures for identified impacts. Midway is far advanced
in the process, which includes baseline studies, a Draft EIS, and
then the Final EIS. The Draft EIS comment period invites the public
to be involved for the second time in the NEPA process. Comments
will be addressed in the Final EIS, which will then inform the
government’s final decision and mitigation requirements. Midway
completed this entire process for its Pan Mine and received the
Record of Decision in December 2013.
Why Public Involvement?
Midway understands that public input is a crucial part of
involving the community in our project. We believe the project will
be improved by this involvement and support the BLM in encouraging
residents to submit comments on the Pan project. We understand that
living and working in Nevada is a privilege and we view this phase
of the permitting process as an opportunity for the public to take
part in building our business in Nevada.
You can learn more about the NEPA process by reading “A
Citizen’s Guide to NEPA” available from the BLM, or on the Web
at:
http://www.blm.gov/pgdata/etc/medialib/blm/nm/programs/planning/planning_docs.Par.53208.File.dat/A_Citizens_Guide_to_NEPA.pdf
Where to Comment
The BLM will be accepting written comments beginning February 13
and ending March 30. Below are the options available by which to
submit comments:
- Mail to the BLM directly
BLM Ely District Office
HC 33 Box 33500
Ely, NV 89301
Attn: Dan Netcher
- Fax to Netcher at (775) 289-1910 or
- Submit electronically on the BLM’s ePlanning website:
http://on.doi.gov/1zAxyW9
Gold Rock Project, Nevada
Gold Rock is east of the Pancake Range of western White Pine
County, Nevada. The property is approximately 10.5 km southeast of
Midway’s Pan Project and approximately 104 km west of Ely, Nevada.
Historic gold production at Gold Rock came from the Easy Junior
open pit mine during the 1980s and the 1990s. Midway is developing
Gold Rock as its second gold project in Nevada, and expects to
complete the federal NEPA process in 2015.
Going Concern Qualification in 10-K
Midway’s Annual Report on Form 10-K filed with the Securities
and Exchange Commission (SEC) on March 16, 2015 included an audit
opinion that contained a going concern qualification. This
announcement is made pursuant to NYSE MKT Company Guide Section
610(b), which requires separate disclosure of receipt of an audit
opinion containing a going concern qualification. This announcement
does not represent any change or amendment to the Company's
financial statements or to its Annual Report on Form 10-K for the
fiscal year ended December 31, 2014.
About Midway Gold Corp.
Midway Gold Corp. is a precious metals company with a vision to
explore, design, build and operate gold mines in a manner
accountable to all stakeholders while assuring return on
shareholder investments.
Neither the TSX, its Regulation Services Provider (as that term
is defined in the policies of the TSX ) nor the NYSE MKT accepts
responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking statements about the
Company and its business. Forward looking statements are statements
that are not historical facts and include, but are not limited to,
statements about the Company's intended work plans including plans
for the further development of the Gold Rock Project, which will be
contingent upon a variety of factors, including but not limited to,
establishment of mineral reserves and at least a prefeasibility
study which have not yet been developed. Forward-looking statements
are typically identified by words such as: "may", "should", "plan",
"believe", "predict", "expect", "anticipate", "intend", "estimate",
postulate" and similar expressions or the negative of such
expressions or which by their nature refer to future events. The
forward-looking statements in this press release are subject to
various risks, uncertainties and other factors that could cause the
Company's actual results or achievements to differ materially from
those expressed in or implied by forward looking statements. These
risks, uncertainties and other factors include, without limitation,
risks related to the timing and completion of the Company's
intended work plans, risks related to fluctuations in gold prices;
uncertainties related to raising sufficient financing to fund the
planned work in a timely manner and on acceptable terms; changes in
planned work resulting from weather, logistical, technical or other
factors; the possibility that results of work will not fulfill
expectations and realize the perceived potential of the Company's
properties; uncertainties involved in the interpretation of
drilling results and other tests and the estimation of gold
resources and reserves; the possibility that required permits may
not be obtained on a timely manner or at all; the possibility that
capital and operating costs may be higher than currently estimated
and may preclude commercial development or render operations
uneconomic; the possibility that the estimated recovery rates may
not be achieved; risk of accidents, equipment breakdowns and labor
disputes or other unanticipated difficulties or interruptions; the
possibility of cost overruns or unanticipated expenses in the work
program; changes in interest and currency exchanges rates; local
and community impacts and issues; environmental costs and risks;
and other factors identified in the Company's SEC filings and its
filings with Canadian securities regulatory authorities.
Forward-looking statements are based on the beliefs, opinions and
expectations of the Company's management at the time they are made,
and other than as required by applicable securities laws, the
Company does not assume any obligation to update its
forward-looking statements if those beliefs, opinions or
expectations, or other circumstances, should change. Although the
Company believes that such forward-looking statements are
reasonable, it can give no assurance that such expectations will
prove to be correct. For the reasons set forth above, investors
should not attribute undue certainty to or place undue reliance on
forward-looking statements.
Cautionary note to U.S. investors concerning estimates of
reserves and resources: This press release and the documents
referenced in this press release use the terms “reserve" and
"mineral resource“, which are terms defined under Canadian National
Instrument 43-101 and the Canadian Institute of Mining and
Metallurgy Classification system. Such definitions differ from the
definitions in U.S. Securities and Exchange Commission ("SEC")
Industry Guide 7. Under SEC Industry Guide 7 standards, a
"final" or "bankable" feasibility study is required to report
reserves, the three-year historical average price is used in any
reserve or cash flow analysis to designate reserves and the primary
environmental analysis or report must be filed with the appropriate
governmental authority. Mineral resources are not mineral reserves
and do not have demonstrated economic viability. The SEC normally
only permits issuers to report mineralization that does not
constitute SEC Industry Guide 7 compliant "reserves" as in-place
tonnage and grade without reference to unit measures. The
references to a “resource” in this press release and the documents
referenced in this press release are not normally permitted under
the rules of the SEC. It cannot be assumed that all or any part of
mineral deposits in any of the above categories will ever be
upgraded to Guide 7 compliant reserves. Accordingly, disclosure in
this press release and in the technical reports referenced in this
press release may not be comparable to information from U.S.
companies subject to the reporting and disclosure requirements of
the SEC.
Midway Gold Corp.Jaime Wells, 720-979-0900Investor
Relationswww.midwaygold.com
(AMEX:MDW)
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