VANCOUVER and NEW DELHI, India, June 11 /CNW/ - Pebble Creek Mining Ltd.
(the "Company" or "Pebble Creek") is pleased to announce that it has received
final Environmental Clearance from the Indian Ministry of Environment and
Forests for commercial production on its Askot project.
The Company also announces that the Askot project has received Stage I
Forest Clearance after a hearing by the state of Uttarakhand's Forest
Department. The Company can now proceed to file an application for Stage II
Forest Clearance, the last permit before final grant and execution of a
30-year Mining Lease.
The Company will work to the highest standards to preserve the natural
beauty of the Askot area, located in the scenic forested foothills of the
Himalayas. Criteria for final clearance include adequate compensation for the
trees removed from the mine site, an approved plan to reforest nearby areas
and a program to protect local wildlife. The Company has been drafting such
plans for many months with the advice of Forest Department field officers.
The Company is also engaged in discussions with an Asian copper company
regarding financing for additional drilling and a feasibility study of the
About Pebble Creek. The Company is concentrating on developing the
high-grade Askot copper, zinc and lead deposit, with some gold, silver and
indium, in Uttarakhand State, India. Askot is projected to be an
environmentally friendly underground mine. With a thorough knowledge of India
after 14 years in country, the Company is well positioned to carry out this
project and others in the acquisition pipeline.
This news release contains forward-looking statements that address future
events and conditions and are subject to various risks and uncertainties. The
Company's actual results, programs and financial position could differ
materially from those anticipated in such forward-looking statements as a
result of numerous factors, some of which may be beyond the Company's control.
These factors include: the availability of funds; the timing and content of
work programs; results of exploration activities and development of mineral
properties, the interpretation of drilling results and other geological data,
the uncertainties of resource and reserve estimations, receipt and security of
mineral property titles; project cost overruns or unanticipated costs and
expenses, fluctuations in commodity prices; currency fluctuations; and general
market and industry conditions.
Forward-looking statements are based on the expectations and opinions of
the Company's management on the date the statements are made. The assumptions
used in the preparation of such statements, although considered reasonable at
the time of preparation, may prove to be imprecise and, as such, undue
reliance should not be placed on forward-looking statements.
Neither 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 or accuracy of this release.
For further information:
For further information: Andrew Nevin, President & CEO, New Delhi, tel.
+91 98 1091 0678; Mike Romanik, Investor Relations, Verenex Capital Corp.,
Brandon, Manitoba, tel. (204) 724-0613