VANCOUVER, BC–(Marketwired – March 28, 2017) – Midas Gold Corp. (TSX: MAX) (OTCQX: MDRPF) today announced that the United States Forest Service (“U.S. Forest Service”) has begun its analysis, under the National Environmental Policy Act (“NEPA”), of Midas Gold Idaho, Inc.’s proposed plan of restoration and operations (“PRO”) for the Stibnite Gold Project in Valley County, Idaho. The U.S. Forest Service stated that it expects to produce a draft Record of Decision in 2018 and a final Record of Decision in the first quarter of 2019.
“After years of planning and working with the communities of Valley County, we are confident in the plan of restoration and operations we submitted to the U.S. Forest Service,” said, Laurel Sayer, President and CEO of Midas Gold Idaho, Inc. “Our approach to designing the plan, where the environment and mining can work together to restore an abandoned historic mine site and provide economic opportunity, sets the Stibnite Gold Project apart. The timeline and process outlined by the U.S. Forest Service ensures that every detail and standard of the NEPA regulatory review process is followed while also incorporating the views and input of interested and affected parties and the public.”
U.S. Forest Service officials have created a website (http://www.fs.usda.gov/goto/payette/StibniteGold) for the Stibnite Gold Project, where interested parties may find information, review the PRO, follow the process and submit comments. Interested and affected parties may comment during the public scoping period (anticipated to occur in Q2 2017) and again on the Draft Environmental Impact Statement, which is anticipated to be published in Q1 2018. As required by NEPA, the U.S. Forest Service will announce comment periods by publishing a Notice of Intent or Notice of Availability, as applicable, in the Federal Register.
“This announcement by the U.S. Forest Service signals the beginning of the official regulatory review process for the Stibnite Gold Project and indicates that we can expect a timely process and decision,” said Stephen Quin, President and CEO of Midas Gold Corp. “Under the leadership of the U.S. Forest Service, we are committed to ensuring that our project receives a thorough, fair and timely evaluation, with ample opportunity for interested parties to get involved in the review process. We look forward to working with the regulators, interested and affected parties, and the public to finalize a plan to restore the site and bring economic benefits to Valley County and Idaho.”
The next step in the permitting process is for the U.S. Forest Service to publish a Notice of Intent in the Federal Register and launch the 30-day public scoping period.
In September 2016, Midas Gold Idaho, Inc. submitted the PRO for the restoration, re-development and operation of the Stibnite Gold Project in Valley County, Idaho. The PRO was deemed administratively complete by the U.S. Forest Service in December 2016.
About Midas Gold and the Stibnite Gold Project
Midas Gold Corp., through its wholly owned subsidiaries are focused on the exploration and, if warranted, site restoration and development of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by its Stibnite Gold Project. Midas Gold Idaho, Inc. operates the project on behalf of Midas Gold Corp. and its other subsidiaries that own the mineral rights that comprise the project.
Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward Looking Information includes, but is not limited to, disclosure regarding possible events, next steps and courses of action including actions to be taken by the US Forest Service, the State of Idaho and other government agencies and regulatory bodies. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “forecasts”, “intends”, “anticipates”, “potential”, “confirm” or “does not anticipate”, “believes”, “contemplates”, “recommends” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” “be achieved”. In preparing the Forward-Looking Information in this news release, Midas Gold has applied several material assumptions, including, but not limited to, assumptions that the current objectives concerning the Stibnite Gold Project can be achieved and that its other corporate activities will proceed as expected; that general business and economic conditions will not change in a materially adverse manner; that the formal review process under the NEPA (including a joint review process involving the US Forest Services, the State of Idaho and other agencies and regulatory bodies) as well as the public comment period, scoping process and EIS will proceed in a timely manner and as expected; and that a Memorandum of Understanding will be entered into among US Forest Service and Idaho state agencies and that the timing and content of such Memorandum of Understanding is consistent with Midas Gold’s expectations. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Midas Gold to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among others, changes in laws and regulations and changes in the application of standards pursuant to existing laws and regulations which may result in unforeseen results in the review process under the NEPA; uncertainty surrounding input to be received pursuant to the scoping process including but not limited to the public comment period; risks related to dependence on key personnel; risks related to unforeseen delays in the review process including availability of personnel from the US Forest Services, State of Idaho and other agencies and regulatory bodies; as well as those factors discussed in Midas Gold’s public disclosure record. Although Midas Gold has attempted to identify important factors that could affect Midas Gold and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Midas Gold does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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