Operations at International Minerals Rio Blanco Project in Ecuador Temporarily Suspended
Fri Apr 17, 6:36 PM
ca.news.finance.yahoo.com
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--International Minerals Corporation (TSX: IMZ.TO)(SIX: IMZ) reports that operations at its Rio Blanco gold-silver project in Ecuador have been temporarily suspended and the IMZ work force has been removed after a group of protesters from the local communities occupied the Company’s exploration camp.
The protest relates to issues concerning layoffs of the community workers at the beginning of 2009 as a result of the suspension of all exploration activities in Ecuador by all companies due the Mining Mandate issued in April 2008 by the Ecuadorian government. Even though a new mining law was passed in January 2009, the Rio Blanco project has been essentially inactive pending an official notification from the government for the Company to re-start its activities.
There are no reported injuries at the Rio Blanco camp as a result of this occupation of the camp, and drill core and critical data are all in a secure off-site location. The Company is working with the local authorities and the protesters to resolve this issue as soon as possible and will provide information about developments as they arise.
The Rio Blanco gold-silver project is in the permitting stage of development as an underground mining operation, pending clarification of the legislative framework and regulations pertaining to the new mining law.
For additional information, contact Wendy Yang at (1) 3...
Internet Site: intlminerals.com
Cautionary Statement:
Some of the statements contained in this release are “forward-looking statements” within the meaning of Canadian securities law requirements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding resumption of operations, property security and permitting. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of resumption of operations and permitting; and other risks and uncertainties detailed in the Company’s Renewal Annual Information Form for the year ended June 30, 2008, which is available at www.sedar.com under the Company’s name. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
International Minerals Corporation
Wendy Yang, 1-303-357-4863 |
