Stock Symbol: SGF: TSX
SASKATOON, April 10, 2013 /CNW/ - George H. Read, P. Geo., Senior Vice President Exploration and Development of Shore Gold Inc. ("Shore" or the "Company") is pleased to announce that responses have been prepared and submitted for the 56 comments and information requests on the Revised Environmental Impact Statement ("EIS") for the Star - Orion South Diamond Project ("the Project"), that were received from the Canadian Environmental Assessment Agency ("CEAA"). The responses and their required supporting documents were delivered to the CEAA in Winnipeg and the Saskatchewan Ministry of Environment ("Ministry") in Regina today. The CEAA is the lead agency for the Federal government and the Ministry is the lead agency on behalf of the Province, which are jointly conducting the environmental assessment of the Project.
The original Draft EIS, submitted to the Ministry and the CEAA in December 2010, was based on the Star - Orion South Diamond Project Pre-Feasibility Study ("PFS"), and generated a total of 802 comments and information requests from Federal and Provincial agencies and Aboriginal groups. The Revised EIS, based on the Feasibility Study of the Star - Orion South Diamond Project ("FS"), incorporated responses to all the review comments and information requests. The Revised EIS generated an additional 56 Federal comments and information requests and 82 Provincial comments and information requests. Responses to Provincial comments were previously prepared and submitted by Shore to the Ministry in January 2013. Comments and information requests were received from the following Federal agencies: CEAA, the Department of Fisheries and Oceans, Natural Resources Canada, Transport Canada, Health Canada and Environment Canada. Fourteen reports, which include 319 pages of information, accompanied the responses to the Federal agencies. Included in these reports is an updated water management strategy for the Project. While many of these comments and information requests were addressed by Shore personnel using existing information, independent consultants prepared some responses and reports.
Senior Vice President Exploration and Development, George Read, states: "Shore has now completed the responses to both the CEAA and the Ministry for their questions on the Revised EIS. The completion of these responses to comments and information requests is another step towards a fully compliant and permitted Project. Simultaneous to the ongoing completion of Project approval and permitting, Shore is in pursuit of development capital on a number of fronts."
The Revised EIS will be released for public comment by the Ministry when all comments and information requests have been resolved. The Executive Summary of the Revised EIS can be viewed on the company's website: www.shoregold.com.
Shore is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Company trade on the TSX Exchange under the trading symbol "SGF".
Caution Regarding Forward-Looking Statements
This news release contains forward-looking statements as defined by certain securities laws, including the "safe harbour" provisions of Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "believe", "expect", "plan", "intend", "forecast", "target", "project", "guidance", "may", "will", "should", "could", "estimate", "predict" or similar words suggesting future outcomes or language suggesting an outlook. In particular, statements regarding Shore's future operations, future exploration and development activities or other development plans constitute forward-looking statements.
Forward-looking statements in this press release include, but are not limited to, assumptions that environmental approval will be attained, assumptions that financing will be secured, assumptions that the Star-Orion South Diamond Project economics will be positive as indicated in the Feasibility Study, and assumptions made respecting diamond price increases resulting from long-term supply/demand fundamentals.
These forward-looking statements are based on Shore's current beliefs as well as assumptions made by and information currently available to it and involve inherent risks and uncertainties, both general and specific.
Risks exist that forward-looking statements will not be achieved due to a number of factors including, but not limited to, developments in world diamond markets, changes in diamond prices, risks relating to fluctuations in the Canadian dollar and other currencies relative to the US dollar, changes in exploration, development or mining plans due to exploration results and changing budget priorities of Shore or its joint venture partners, the effects of competition in the markets in which Shore operates, the impact of changes in the laws and regulations regulating mining exploration, development, closure, judicial or regulatory judgments and legal proceedings, operational and infrastructure risks and the additional risks described in Shore's most recently filed Annual Information Form, annual and interim MD&A. Shore's anticipation of and success in managing the foregoing risks could cause actual results to differ materially from what is anticipated in such forward-looking statements.
Although management considers the assumptions contained in forward-looking statements to be reasonable based on information currently available to it, those assumptions may prove to be incorrect. When making decisions with respect to Shore, investors and others should not place undue reliance on these statements and should carefully consider the foregoing factors and other uncertainties and potential events. Unless required by applicable securities law, Shore does not undertake to update any forward-looking statement that is made herein.
SOURCE: Shore Gold Inc.
For further information:
Joseph Dickson, Investor Relations Manager at (306) 667-3505 and www.shoregold.com