TORONTO, March 4, 2016 /CNW/ - AuRico Metals Inc. (TSX: AMI), ("AuRico" or the "Company") today announced that it has submitted its Environmental Assessment ("EA") application for the Kemess Underground Project to the British Columbia Environmental Assessment Office ("BC EAO") in accordance with the British Columbia Environmental Assessment Act. With the submission of the EA Application to the BC EAO, the 30-day screening period to ensure that the EA Application is complete has now commenced. Once the EA Application has been screened, and if accepted, there is a 180-day period for the BC EAO to complete its review. The BC EAO is managing the environmental assessment in a Substituted Process on behalf of British Columbia and the Canadian Environmental Assessment Agency.
Commenting on today's announcement, Chris Richter, President and CEO of AuRico Metals stated, "The submission of the EA marks another important milestone for the advancement of Kemess, along with the imminent release of an updated Feasibility Study for the Kemess Underground Project and an updated resource estimate for Kemess East. We look forward to the receipt of a government decision on Kemess in the fourth quarter of this year."
About AuRico Metals
AuRico Metals is a mining royalty and development company whose producing gold royalty assets include a 1.5% NSR royalty on the Young-Davidson Gold Mine, a 0.25% NSR royalty on the Williams Mine at Hemlo, and a 0.5% NSR royalty on the Eagle River Mine – all located in Ontario, Canada. AuRico Metals also has a 2% NSR royalty on the Fosterville Mine and a 1% NSR royalty on the Stawell Mine, located in Victoria, Australia. Aside from its diversified royalty portfolio, AuRico owns (100%) the advanced Kemess Gold-Copper Project in British Columbia, Canada. AuRico Metals' head office is located in Toronto, Ontario, Canada.
This press release contains forward-looking statements and forward-looking information as defined under Canadian and U.S. securities laws. All statements, other than statements of historical fact, are, or may be deemed to be, forward-looking statements. The words "expect", "believe", "anticipate", "will", "intend", "estimate", "forecast", "budget" and similar expressions identify forward-looking statements. Forward-looking statements include statements related to the Company's outlook and key deliverables on Kemess over the next 12 months. These statements are based on a number of factors and assumptions that, while considered reasonable by management at the time of making such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such forward-looking statements and the factors and assumptions underlying them in this document include the timing of the government decision in response to the Company's environmental assessment application..
Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained herein. Such statements are based on a number of assumptions which may prove to be incorrect, including assumptions about: the timing and ability to obtain provincial and federal approval of the environmental assessment application, the number of comments or questions raised by partners or the British Columbia Environmental Assessment Office, and additional studies required in order to address concerns raised and the results of those studies. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
SOURCE AuRico Metals
For further information: Chris Richter, President and Chief Executive Officer, AuRico Metals Inc., 416-216-2780, firstname.lastname@example.org; Robert Chausse, Chief Financial Officer, AuRico Metals Inc., 416-216-2780, email@example.com