MONTREAL, Sept. 17, 2013 /CNW Telbec/ - Greg Struble, President and CEO of Maudore Minerals Ltd. (MAO: TSX-Venture; MAOMF: US OTC; M6L: Frankfurt Exchange) reports that its subsidiary Aurbec Mines Inc. (Aurbec) has received authorization from the Ministry of Sustainable Development, Environment, Wildlife and Parks to begin custom treating ore feed from Abcourt's Elder mine at the Sleeping Giant processing plant which is located some 80 km north of Amos, Quebec in the Northern Volcanic Zone of the Abitibi Greenstone Belt.
As previously reported on August 16th, Aurbec and Abcourt have signed an agreement whereby Aurbec would treat the mine production from Abcourt's Elder mine located near Rouyn-Noranda, Quebec once the required permits were in place. On September 11th, that permission was received opening up the ability for the processing work to proceed.
All site preparation at the Sleeping Giant has been completed to receive this additional ore source and the logistics have been completed between both companies in order to commence shipments as early as this week. For Aurbec, this will allow the company to maintain the plant workforce once the current mine out phase of the Vezza project is completed at the end of September. This custom milling agreement will "bridge the gap" between the end of the Vezza Project feed and the ongoing ramp up of the Sleeping Giant mine production which was announced in our August 27th press release regarding the start of the new underground diamond drilling program.
About Maudore Minerals Ltd.
Maudore is a Quebec based junior gold company with milling operations and more than 22 exploration projects, of which five are at an advanced stage toward development with reported current and historical resources. The Company's projects span some 120 kilometers, east-west, of the underexplored Northern Volcanic Zone of the Abitibi Greenstone Belt and cover a total area of 1570 km2 with the Sleeping Giant Processing Facility within trucking distance of key development projects.
Cautionary Statement Regarding Forward-Looking Statements
This release and other documents filed by the Company contain forward-looking statements. All statements that are not clearly historical in nature or that necessarily depend on future events are forward-looking, and the words "intend", "anticipate", "believe", "expect", "estimate", "plan" and similar expressions are generally intended to identify forward-looking statements. These forward-looking statements include, without limitation, performance and achievements of the Company, business and financing plans, business trends and future operating revenues. These statements are inherently uncertain and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, financial related risks, unstable gold and metal prices, operational risks including those related to title, significant uncertainty related to inferred mineral resources, operational hazards, unexpected geological situations, unfavourable mining conditions, changing regulations and governmental policies, failure to obtain required permits and approvals from government authorities, failure to obtain any required approvals of the TSXV or from shareholders, failure to obtain any required financing, failure to complete any of the transactions described herein, increased competition from other companies many of which have greater financial resources, dependence on key personnel and environmental risks and the other risks described in the Company's continuous disclosure documents.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Maudore Minerals Ltd.
For further information:
President and CEO
+1 647 927 0239
Deputy Chairman of the Board and Director of Corporate Development
+1 416 587 9801
Chief Financial Officer
+1 819 825 4343