Trading Symbol: TSX-V: IG
CALGARY, June 17 /CNW/ - Infinito Gold Ltd. (the "Company") announces that the Costa Rican Tribunal de Apelaciones (the "Appeals Tribunal"), which heard the appeal of the decision of the Tribunal Contencioso Administrativo (the "Administrative Tribunal") described in our news release of April 25, 2010, has left in place an injunction prohibiting the Company from re-commencing work on its Crucitas gold project in Costa Rica.
The injunction was originally filed with the Administrative Tribunal on April 17, 2010 and remained in place following the decision of the Administrative Tribunal disclosed in the Company's press release dated April 25, 2010. The Company has argued the injunction should be lifted and the matters dismissed in large part because a higher court has already ruled on the substance of these matters. The Appeals Tribunal previously advised it would need to see the higher court ruling before it could accept this argument. As at the date of the Appeal Tribunal's decision, however, the full written ruling of the higher court still had not been released and the Company has not been advised as to when it will be released.
While the injunction halting activity on the mining and tailings area will remain in place the Company is still advancing through the legal process of the Administrative Tribunal. This process is addressing the filings that were entered in late 2008 by a group opposed to the Crucitas project. A preliminary hearing to review this process was scheduled for June 16, 2010 but the hearing has been postponed until August 11. 2010. At this hearing the Company's Costa Rican counsel has advised that the Company can request that the injunction be lifted in addition to presenting arguments requesting the Administrative Tribunal challenge be dismissed. The Company has not had the opportunity to fully review the complete decision by the Appeals Tribunal and will consider all legal options.
INFINITO GOLD LTD.
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."
SOURCE Infinito Gold Ltd.
For further information: For further information: INFINITO GOLD LTD., 216, 102 - 8th Avenue S.W., Calgary, Alberta, T2P 1B3, Telephone: (403) 444-5191