Tickers: PINX:MDLXF, XTSX:RST
Tags: Mining
October 11, 2018 / TheNewswire / Edmonton, AB - Rosita Mining Corporation (RST: TSX-V) ("Rosita" or the "Company" or "RST") is pleased to announce that it has satisfactorily completed the environmental process established by Nicaraguan laws as part of the prerequisites that must be met before building the treatment plant and entering into mining operations. The Environmental Permit was signed September 28 and the original obtained by the company on October 9, 2018. It was granted by the Natural Resources and Environment Commission of the Autonomous Regional Council of the North Caribbean Coast (CARENA - CRACCN) and the Secretary of Ministry of Natural Resources (SERENA) after completing a process that included; conducting an Environmental Impact Study, review and input on the study to all stakeholders and to public consultation. The Environmental Study of the Santa Rita Project was reviewed by a multidisciplinary team made up of social, environmental, technical and governmental institutions.
Obtaining this permit as detailed in the Preliminary Economic Assessment for the Santa Rita Project, Rosita, Nicaragua (see Press release dated April 20, 2017) constitutes the main authorization that must be obtained prior to initiating mining operations in the Santa Rita project. In addition, RST has requested a land use permit from the municipal authorities, it is expected to obtain this permit in the coming days. The land use permit establishes that the area where the treatment plant will be built is suitable for this type of construction. The processing facility will consist of crushing (contract) of the Santa Rita stockpiles, milling, cyanidation, SART (Sulphidization, Acidification, Recycling, and Thickening) copper recovery process, and carbon adsorption.
John Cook, President and CEO of Rosita, commented, "We are extremely pleased to announce this news of successful permitting and near term operation of the Santa Rita Project. This is an important step for the Company and thanks go to Sammy Gonzalez, RST Country Manager and his team."
The technical contents of this news release were approved by John F. Cook, MIMMM, a qualified person as defined by National Instrument 43-101.
About Rosita Mining Corporation
Rosita is a junior mining and exploration resource company focused on growing shareholder value through the development of the Santa Rita Stockpiles and tailings and advancing accretive exploration opportunities.
Rosita and Calibre hold 67% and 33% interest respectively in the Rosita copper-gold-silver supergene/skarn/porphyry project in Nicaragua located 275 kilometres northeast of Managua.
Rosita has also recently acquired a gold exploration property on the western edge of the Mount Peyton intrusive in Newfoundland, see Press Releases dated August 14 and 22, 2018.
Signed "John Cook"
For more information please visit www.sedar.com or contact:
John Cook, CEO
Rosita Mining Corporation
Telephone: (416) 200-8073
E-mail: johncook@kos.net
Neither the 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.
Cautionary Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the re-instatement of trading and the identification, negotiation and completion of a transaction sufficient to meet listing requirements of the TSX Venture Exchange. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. Risk factors that could cause actual results or outcomes to differ materially from the results expressed or implied by forward-looking information include, among other things: conditions imposed by the NEX and/or TSX Venture Exchange; changes in tax laws, general economic and business conditions; and changes in the regulatory regulation. The Company cautions the reader that the above list of risk factors is not exhaustive. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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