PARIS, April 27 /CNW/ - EURO Ressources S.A. (TSX: EUR)(Euronext of the
Bourse de Paris: EUR) today announced that Macquarie Bank Limited has agreed
to defer repayment of the principal repayment due on 29 April 2007 until 29
January 2009. EURO will pay a nominal administration fee in respect to this
James H. Dunnett, EURO's Directeur-General, stated: "The strike at
Rosebel in the first quarter 2007 resulted in reduced gold production and the
royalty payments to EURO are correspondingly lower, notwithstanding a higher
gold price. The deferral of payment of the principal due under EURO's credit
facility maintains sufficient liquidity for EURO at minimal cost."
EURO also states that negotiations with Patricia Mining Corp. ("PAT")
(TSX-V: PAT) are continuing regarding the previously announced business
combination of the two companies. Mr. Dunnett stated: "The process to settle
arrangements with PAT has taken longer than expected, but we are encouraged by
the recent announcement regarding the updated resource at the Island Gold
Mine. We now await the technical report and related mine plan to enable us to
move forward with this transaction."
EURO is a French company, presently focused on acquiring and holding
mineral royalties and similar interests on operating gold mines. Additionally,
EURO continues to hold certain exploration and development mineral rights,
principally gold, in French Guiana, which are the subject of joint venture
arrangements. EURO has approximately 50.5 million shares outstanding.
Statements Regarding Forward-Looking Information: Some statements
contained in this news release are forward-looking statements. Investors are
cautioned that forward-looking statements are inherently uncertain and involve
risks and uncertainties that could cause actual results to differ materially.
Such statements include comments regarding the Company's intentions regarding
the acquisition of other corporations and additional royalty or mineral
interests as well as the operations and results of the Rosebel gold mine.
There can be no assurance that future developments affecting the Company or
the Rosebel gold mine will be those anticipated by management.
Not for distribution to United States newswire services or for
dissemination in the United States. The securities referred to herein have not
been registered under the US Securities Act of 1933 and may not be offered or
sold in the United States or to a US person absent registration or an
applicable exemption from registration.
Additional information relating to EURO Ressources S.A. is available on
SEDAR at www.sedar.com.
For further information:
For further information: EURO Ressources S.A. James H. Dunnett, +1
604-710-2242 Directeur-General Fax: +1 604-608-3283 email@example.com or
Susanne A. Hermans, +1 303-204-7771 Vice-President Finance