Trading Symbol - NMD.V
VANCOUVER, March 9, 2015 /CNW/ - Nomad Ventures Inc. (the "Company") is very pleased to announce the receipt of their Sand and Gravel Permit for the St. Vincent Bay Quarry, located in the Sunshine Coast, British Columbia. This permit is granted by the BC Ministry of Energy and Mines and indicates the Provincial Government's approval of Nomad's Work System and Reclamation Plan as prepared and submitted by the Company on April 23, 2014.
The permit entitles the Company to commence operations on the property as a commercial sand, gravel and granite quarry.
A reclamation bond has been posted by the Company and has been accepted by the Ministry of Energy and Mines as part of this approval process.
The Sand and Gravel Permit allows the Company to begin production operations at the quarry. Nomad Ventures will begin by clearing and stripping the mine footprint (raw material source area) in preparation for sand, gravel and quarried stone extraction and processing.
The Company is very pleased with the successful accomplishment of this significant milestone and looks forward to beginning work on the property as soon as equipment and crews can be mobilized.
Delivery of aggregate product to customers will begin as soon as the site is prepared and the mandated official notifications are made to local communities and the Ministry of Energy and Mines.
The commencement of production on the St. Vincent Bay Property will not be based on a feasibility study of mineral reserves demonstrating economic and technical viability and therefore there is increased uncertainty and risk of failure associated with this production decision. Production will be subject to the Company obtaining sales contracts for the purchase of sand, gravel and/or quarried stone product. The Company is actively pursuing sales contracts for its products.
James H. Place, P.Geo., a Director of the company and a Qualified Person as defined in NI43-101, has reviewed and approved the scientific and technical content of this news release.
On behalf of the Board of Directors,
Nomad Ventures Inc.
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Nomad cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Nomad's control. Such factors include, among other things: risks and uncertainties relating to Nomad's ability to complete the balance of the proposed private placement financing; and Nomad's limited operating history. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Nomad undertakes no obligation to publicly update or revise forward-looking information.
Neither 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 or accuracy of this release.
SOURCE Nomad Ventures Inc.
For further information: Phone: 604 987-6012, Email: [email protected], Website: www.nomadventures.ca