VANCOUVER, July 2, 2015 /CNW/ - Yellowhead Mining Inc. ("Yellowhead" or the "Company") (TSX: YMI)) provides an update on the development of the Harper Creek Project.
Harper Creek Project Update
The Company is currently in the process of responding to comments from the British Columbia environmental assessment office (BC EAO) and the Canadian environmental assessment agency (CEA Agency), together with members of the Working Group, on the application (EA Application) for an environmental certificate (EA Certificate) for the Harper Creek Project (Harper Creek).
In addition, the Company is undertaking an updated alternatives assessment for Harper Creek, and continues to evaluate the conclusions and recommendations of the Independent Expert Report on the Mount Polley Tailing Storage Facility Breach for its relevance and applicability to Harper Creek. The Company continues to work with the BC EAO and the CEA Agency with respect to the additional work and documentation required to properly respond to the requirements of the BC EAO with respect to these matters in order to complete the environmental assessment process for Harper Creek.
Due to this additional work, the Company and the BC EAO have agreed to the BC EAO issuing an order under Section 24(2) of the Environmental Assessment Act (BC) suspending the 180 day review period timeline in order to provide sufficient time for the Company to provide the additional information requested by the BC EAO. The review of the EA Application will, however, continue during this period.
The Company also continues to pursue additional working capital to complete the environmental assessment process and to continue the ongoing development of Harper Creek.
About Yellowhead Mining Inc.
Yellowhead Mining Inc. is a development stage company with a 100% interest in the Harper Creek Project, located in the North Thompson - Nicola region of British Columbia, Canada. The proposed Harper Creek mine will be a large scale, long life, low cost open pit copper mine, has a NI 43-101 compliant feasibility study, and is currently in the environmental permitting phase of development.
Forward Looking Statements
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, including, among others, the accuracy of mineral grades and related assumptions, inherent operating risks, planned expenditures, proposed exploration and development at the Harper Creek Project, operating and economic aspects of the Harper Creek Project, as well as those risk factors identified in the Company's Annual Information Form filed under the Company's SEDAR profile. Yellowhead undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. More detailed information about potential factors that could affect projected results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Yellowhead.
SOURCE Yellowhead Mining Inc.
For further information: Frank D. Wheatley, Chief Executive Officer, 604-681-1709 Ext. 212, Email: [email protected], Website: www.yellowheadmining.com, Twitter: http://twitter.com/YMI_Mining