Favourable news release. See below.
FOR FURTHER INFORMATION PLEASE CONTACT:
Battle Mountain Gold, Houston
Les Van Dyke
(713) 653-7248
lvandyke@bmgold.com
www.bmgold.com
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: BATTLE MOUNTAIN GOLD CO.
TSE SYMBOL: BMC
NYSE SYMBOL: BMG
MAY 13, 1999
Battle Mountain Gold Says Conference Committee Votes for
Provision to Approve Plan of Operations and Reinstate
Record of Decision for Crown Jewel Project
HOUSTON, TEXAS--Battle Mountain Gold Co.(NYSE:BMG) (TSE:BMC)
Thursday said that the United States House/Senate Appropriations
Conference Committee has voted to overturn the previously
announced decision of the Departments of the Interior and
Agriculture, which denied the Plan of Operations and revoked the
Record of Decision for the Crown Jewel project.
The provision voted upon, which would mandate the approval of the
Plan of Operations and reinstatement of the Record of Decision, is
part of the Supplemental Appropriations Bill. In order to become
law, the Bill would have to be passed by the United States House
and Senate and be signed by the President.
BMG President and Chief Executive Officer Ian D. Bayer said that
"This was not an environmental issue, it was an issue of fairness.
We are thankful to those in Congress who had the courage to
address the injustice represented by the denial and the
misinformation campaign waged by opponents of economic
development. This provision, if enacted, will allow the project to
move forward in accordance with the law upon which the company has
relied. It is not a change in the law." Bayer went on to state
that "Battle Mountain intends to build the Crown Jewel mine and
looks forward to prompt action on the Bill."
The United States Private Securities Litigation Reform Act of 1995
provides a "safe harbor" for certain forward-looking statements.
Operating, exploration and financial data, and other statements in
this document, are based on information that the company believes
reasonable, but involve significant uncertainties as to future
gold prices, costs, ore grades, mining and processing conditions,
and regulatory and permitting matters. Actual results and
timetables could vary significantly from the estimates presented.
Also refer to the cautionary statement contained in the company's
Form 10-K and 10-Q for the most recent reporting periods.
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