TORONTO--(BUSINESS WIRE)--TMAC Resources Inc. (TSX:TMR) (“TMAC” or the “Company”) announces that the Nunavut Impact Review Board (“NIRB”) has issued amended Project Certificate No. 003 for the Doris North Gold Mine Project to TMAC. The receipt of the amended certificate marks the completion of the NIRB process, as it relates to this amendment. NIRB now transitions to a monitoring role with regular reporting by TMAC and an annual inspection by NIRB staff.
In connection, the Nunavut Water Board (“NWB”) is progressing through consideration of a related amendment to the water license for the Doris Mine. The public hearing on the amended water license for the Doris North Project was completed earlier in September and TMAC awaits the NWB report. The finalized water license is anticipated later in the fourth quarter of 2016. The proposed amendments increase the tonnage to be mined, the mine life and the size of the Doris camp. Among other operational changes the amendments will increase the amount of tailings that can be placed into the already permitted tailings impoundment area and permit the discharge of treated water to Robert’s Bay.
ABOUT TMAC RESOURCES
TMAC holds a 100% interest in the Hope Bay Project located in Nunavut, Canada. TMAC is a fully financed, gold development company on target to achieve its Path to Production plan, beginning with the Doris Deposit, by the end of 2016. The Company has a board of directors with depth of experience and market credibility and an exploration and development team with an extensive track record of developing high grade, profitable underground mines.
This release contains "forward-looking information” within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. “Forward-looking information” includes statements that use forward-looking terminology such as “may”, “will”, “expect”, “anticipate”, “believe”, “continue”, “potential” or the negative thereof or other variations thereof or comparable terminology. Such forward-looking information includes, without limitation, bringing the Hope Bay Project into production,
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made, Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking information. See “Risk Factors” in the Company’s AIF dated February 25, 2016 filed on SEDAR at www.sedar.com for a discussion of these risks.
The Company cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information.