SALA I Upholds Tribunal Decision
2011年11月30日 - 9:52AM
PR Newswire (Canada)
Trading Symbol: TSX-V: IG CALGARY, Nov. 30, 2011 /CNW/ - Infinito
Gold Ltd. (the "Company") announces that the Administrative Law
Chamber of the Supreme Court of Costa Rica ("SALA I") has rendered
its decision and rejected the request for annulment ("Casación") of
the sentence (the "TCA Ruling") imposed by the Tribunal Contencioso
Administrativo ("TCA") on November 24, 2010, in respect of the
Company's gold mining permits and the Costa Rican permitting
procedures for the Crucitas gold project. The TCA Ruling annulled
the Exploitation Concession of the Company's Crucitas gold project
and invalidated, among other things, the original approval of the
environmental impact study received in December of 2005 during the
Abel Pacheco presidency, the amended environmental impact study
received in February of 2008 and the Presidential Decree declaring
the project to be in the national interest received in October of
2008. The decision by the SALA I appears to conflict with the
decision reached by the Constitutional Chamber of the Supreme Court
of Costa Rica (SALA IV) in April of 2010 that confirmed the
validity of IISA's Exploitation Concession and approvals. The
Company is reviewing the impact of the SALA I ruling with respect
to the ruling of the SALA IV, its debt facilities and their related
covenants and the impact this may have on the future presentation
of its financial statements. Caution Regarding Forward-Looking
Information and Statements Certain statements in this press release
address future events and conditions and, as such, involve known
and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the statements. These factors
include, among others, the timing related to the dissemination of
the complete, detailed SALA I decision and the nature of any
conditions contained therein, the timing and nature of further
legal action initiated by the Company and the possibility of
appeals or new litigation by parties opposed to the project. These
statements are made as of the date of this release but Company
undertakes no obligation to update these forward-looking
information or statements if circumstances or management's
estimates or opinions should change. The reader is cautioned not to
place undue reliance on forward-looking information or statements.
INFINITO GOLD LTD. John Morgan President and CEO 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 accuracy of this release."
Infinito Gold Ltd. CONTACT: INFINITO GOLD LTD.216, 102 - 8th Avenue
S.W.Calgary, Alberta T2P 1B3Telephone: (403) 444-5191
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