VANCOUVER, BC--(Marketwired - June 21, 2017) - Wolf Wiese CEO of Golden Dawn Minerals Inc. (TSX VENTURE: GOM) (FRANKFURT: 3G8A) (OTC PINK: GDMRF) (the "Company" or "Golden Dawn ") announces that permits for operating the Lexington-Grenoble mine and Greenwood Process Plant were received from the BC Ministry of Energy and Mines on June 16.
The Mine Permits are for Golden Dawn's 100% owned subsidiary company, 1086359 BC Ltd. to operate the Lexington mine and Greenwood Process Plant. The permits outline several conditions that are routinely required for operations.
Receipt of these permits puts Golden Dawn, through its operating company 1086359 BC Ltd., in the driver's seat towards production. As a result of the receipt of these pivotal permits, the Company is in a position to commence to dewater and re-activate the Lexington mine, (Ministry of Environment dewatering permit in place) and to operate the Greenwood Process Plant. Mine production from the Lexington-Grenoble and Golden Crown deposits will be planned as outlined in an updated Preliminary Economic Analysis report (as announced June 19th, 2017).
The May Mac mine is also being prepared to supply feed to the Greenwood Process Plant. A permit application for underground drifting and drilling is currently under review by the BC Ministry of Energy and Mines, and an updated bulk sample permit application is being finalized. A surface diamond drilling program is currently underway. The initial underground drilling program has been successfully completed.
A surface diamond drill permit for the Golden Crown property is also being reviewed by the Ministry. Surface drilling is planned for 2017 to increase the confidence level in the current indicated resource estimate and to test for extensions to resource blocks.
The Company would like to clarify that its decision to proceed to extract mineralized material from the Lexington, Golden Crown and May Mac mines for processing at its facility located at the Greenwood Precious Metals Project is not based on a feasibility study. The Company cautions that, in such cases, there is increased uncertainty and higher economic and technical risks of failure.
Technical disclosure in this news release has been approved by Dr. Mathew Ball, P.Geo., a Qualified Person as defined by National Instrument 43-101, and Chief Operating Officer of the Company.
On behalf of the Board of Directors:
GOLDEN DAWN MINERALS INC.
Chief Executive Officer
THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. 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. THIS DOCUMENT CONTAINS CERTAIN FORWARD LOOKING STATEMENTS WHICH INVOLVE KNOWN AND UNKNOWN RISKS, DELAYS, AND UNCERTAINTIES NOT UNDER THE COMPANY'S CONTROL WHICH MAY CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM THE RESULTS, PERFORMANCE, OR ACHIEVEMENTS IMPLIED BY THESE FORWARD LOOKING STATEMENTS. WE SEEK SAFE HARBOR.
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