TORONTO, January 12, 2017 /PRNewswire/ --
AuRico Metals Inc. (TSX: AMI), ("AuRico" or the "Company") is pleased to provide an update on the ongoing Environmental Assessment process for the Company's wholly owned Kemess Underground Project in British Columbia (BC). On January 11, the draft Assessment Report and conditions were made available on the website of the BC Environmental Assessment Office (EAO) and the final 30-day public comment period commenced. The draft Assessment Report concludes that the Kemess Underground Project would not result in significant adverse effects.
Following completion of the public comment period, comments will be addressed and the finalized Assessment Report will be sent for ministerial decision. The BC EAO is managing the Environmental Assessment in a Substituted Process on behalf of British Columbia and the Canadian Environmental Assessment Agency. The Company expects a final decision regarding the issuance of an EA Certificate around the end of the first quarter of 2017.
About AuRico Metals
AuRico Metals is a mining royalty and development company whose producing gold royalty assets include a 1.5% NSR royalty on the Young-Davidson Gold Mine, a 0.25% NSR royalty on the Williams Mine at Hemlo, and a 0.5% NSR royalty on the Eagle River Mine - all located in Ontario, Canada. AuRico Metals also has a 2% NSR royalty on the Fosterville Mine and a 1% NSR royalty on the Stawell Mine, located in Victoria, Australia. Aside from its diversified royalty portfolio, AuRico Metals owns (100%) the advanced Kemess Gold-Copper Project in British Columbia, Canada. AuRico Metals' head office is located in Toronto, Ontario, Canada.
Cautionary Statement on Forward-Looking Information
All statements, other than statements of historical fact, contained or incorporated by reference in this news release including, but not limited to, any information as to the future financial or operating performance of AuRico, constitute "forward-looking information" or "forward-looking statements" within the meaning of certain securities laws, including the provisions of the Securities Act (Ontario) and are based on expectations, estimates and projections as of the date of this news release. Forward-looking statements contained in this news release include, without limitation, statements with respect to AuRico Metals' Environmental Assessment Application and the timing of the regulatory recommendations and the Ministers' decisions. The words "anticipates", "estimates", "expects", "focus", "forecast", "indicate", "initiative", "intend", "model", "opportunity", "option", "plans", "potential", "projected", "prospective", "pursue", "strategy", "study" (including, without limitation, as may be qualified by "feasibility" and the results thereof), "target", "timeline" or variations of or similar such words and phrases or statements that certain actions, events or results "may", "could" or "would", and similar expressions identify forward-looking statements.
Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, but are not limited to: the timing and ability to obtain provincial and federal approval of the Environmental Assessment Application, the number of comments or questions raised during the public comment period, additional studies required to address questions or concerns raised and the results of those studies, relations with First Nations partners and the Province of British Columbia, changes in national and local government legislation, taxation, controls, policies and regulations and political or economic developments in Canada. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, AuRico's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, AuRico.
There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. All of the forward-looking statements made in this news release are qualified by these cautionary statements and those made in our other filings with the securities regulators of Canada including, but not limited to, the cautionary statements made in the "Risk Factors" section of our most recently filed Annual Information Form, Short-Form Prospectus and Management Discussion and Analysis. These factors are not intended to represent a complete list of the factors that could affect AuRico. AuRico disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
SOURCE AuRico Metals