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Slovak Geology Act Amended to Clarify Exploration License Renewals
Slovak Geology Act Amended to Clarify Exploration License Renewals Vancouver, British Columb...
About this update from Azarga Metals Corp.
[{"type":"text","content":"Slovak Geology Act Amended to Clarify Exploration License RenewalsSlovak Geology Act Amended to Clarify Exploration License Renewals\nVancouver, British Columbia CANADA, October 10, 2013 /FSC/ - European Uranium Resources Ltd. (EUU - TSX Venture, EUUNF - OTCQX, TGPN - FWB),reports that the Slovak Republic has amended its Geology Act to address possible uncertainties in interpretation of the previous Geology Act.  Among topics addressed, the amended legislation states clearly that the renewal of an existing exploration license is not a modification or change to the license unless the size of the license is changed.  \nThe amended Act also confirms that if the renewal does not involve a change in size of the license, it can be renewed by the Ministry of Environment without requiring the input and approval of municipalities and regional governments.  This is the issue that is currently being reviewed as part of the Ministry of Environment's review of the Kuriskova Exploration License renewal (see EUU news release dated August 22, 2013).\nEarlier this year, the Kuriskova License was renewed by the Geology Division of the Ministry of Environment until April 2015.  The renewed Kuriskova License is for the same size and for the same commodities (uranium, molybdenum and copper) as the previous license.\nDorian L. (Dusty) Nicol, EUU's President and CEO, commented, \"This amendment to the Geology Act of the Slovak Republic clarifies beyond question that the renewal of the Kuriskova Exploration License earlier this year was valid.  The renewal was done in compliance with the Geology Act and this amendment clarifies that the renewal did not represent a modification or change to the License.  We are confident that the Minister of Environment will reach the same conclusion and confirm the validity of the renewal.\"\nThe amendment was approved by the Slovak Parliament on September 13, 2013 and signed into law by President of the Slovak Republic Ivan Gasparovic on October 4, 2013.  This amendment to the legislation is valid effective November 1, 2013.\nAbout European Uranium Resources Ltd.\nEuropean Uranium Resources Ltd. is a dedicated European uranium exploration and development company that has built a portfolio of outstanding projects in Slovakia.  European Uran...