VANCOUVER, Feb. 6, 2015 /CNW/ - Endeavour Mining Corporation ("Endeavour" or the "Corporation") (TSX:EDV) (ASX:EVR) (OTCQX:EDVMF) announces the receipt of the final signed mining permit to develop and operate the Houndé gold project in Burkina Faso.
The mining permit was previously approved by the Council of Ministers and has now been signed as a mining decree by the President of Burkina Faso, and other governmental authorities.
The decree grants Houndé Gold Operation SA (the Burkina Faso operating subsidiary of Endeavour) an industrial mining permit for development and operation of the Houndé Gold Project.
The mining permit is valid for 20 years from February 5, 2015 and can be renewed for additional periods of 5 years. The project is expected to benefit from the fiscal and other provisions of the current Mining Code (2003).
Neil Woodyer, CEO, stated
"We are very pleased to receive the mining permit for the Houndé gold project. We have been reviewing the results of the 2014 Houndé exploration program and are undertaking an update on the project economics and anticipate updating the market on those results shortly. We look forward to the opportunity to add another mine to our portfolio in a country where we have had much success operating the Youga Mine."
About Endeavour Mining Corporation
Endeavour is a Canadian-based gold mining company producing 500,000 ounces per year from four mines in West Africa. Endeavour is focused on effectively managing its existing assets to maximize cash flow as well as pursuing organic and strategic growth opportunities that benefit from its management and operational expertise.
On behalf of Endeavour Mining Corporation
Chief Executive Officer
This news release contains "forward-looking statements" including but not limited to, statements with respect to Endeavour's plans and operating performance, the estimation of mineral reserves and resources, the timing and amount of estimated future production, costs of future production, future capital expenditures, and the success of exploration activities. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "expected", "budgeted", "forecasts" and "anticipates". Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions; risks related to international operations; risks related to general economic conditions and credit availability, actual results of current exploration activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; fluctuations in foreign currency exchange rates, increases in market prices of mining consumables, possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of development or construction activities, changes in national and local government regulation of mining operations, tax rules and regulations, and political and economic developments in countries in which Endeavour operates. Although Endeavour has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Please refer to Endeavour's most recent Annual Information Form filed under its profile at www.sedar.com for further information respecting the risks affecting Endeavour and its business.
SOURCE Endeavour Mining Corporation
For further information: Doug Reddy, SVP Business Development, +1 604 609 6114, [email protected]; Endeavour Mining Corporation, Corporate Office, Suite 3123, 595 Burrard Street, P.O. Box 49139, Vancouver, BC, V7X 1J1, Canada, Tel: +1 604 685 4554; www.endeavourmining.com