SCOTTSDALE, AZ, May 30, 2014 /CNW Telbec/ - Chaparral Gold Corp. ("Chaparral") (TSX: CHL) announces that on May 29, 2014 an initial meeting was held between Metallic Ventures (U.S.) Inc. ("Metallic"), a wholly-owned indirect subsidiary of Chaparral, and the US Environmental Protection Agency ("EPA") to discuss the Eureka smelter site and any potential liability of Metallic.
The three main discussion points at the meeting were:
- The EPA discussed the agency's reasons for determining why Metallic is a potentially responsible party as the corporate successor to two companies that operated smelters in Eureka, Nevada between 1870 and 1891. Based on its research, Metallic disagreed with the corporate successor conclusions reached by the EPA.
- Metallic discussed its corporate history and activities and explained to the EPA that if any liability exists, it is contained solely within Metallic, which has limited resources to pay.
- Notwithstanding the above two points, in order to expedite a resolution, both parties agreed to explore the possibility of a limited "ability to pay" settlement as allowed under federal law and EPA policies.
About Chaparral Gold
Chaparral is a Nevada-focused precious metals company actively permitting the 100%-owned Gemfield deposit at the Goldfield property, in central Nevada. In addition, Chaparral holds a 100% interest in the advanced-stage Converse property, also located in Nevada.
Some of the statements contained in this release are "forward-looking statements" within the meaning of Canadian securities law requirements, including statements relating to the Eureka smelter site issue and in respect of its Goldfield property. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to a potential resolution of the Eureka smelter site issue and permitting activities at Goldfield. Except as required pursuant to applicable securities laws, 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.
SOURCE: Chaparral Gold Corp
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