TSX Trading Symbol: GBU
TORONTO, May 4 /CNW/ - Gabriel Resources Ltd's ("Gabriel") 80% owned Romanian subsidiary, Rosia Montana Gold Corporation S.A. (RMGC), today delivered the Annex to its Rosia Montana Environmental Impact Assessment (EIA) to the Romanian Ministry of Environment. The Annex consists of answers to all questions presented during the Public Consultation and Disclosure Process phase, conducted last summer in 14 public sessions across Romania, plus two in Hungary which were held in accordance with the Espoo Convention on environmental impact assessment in a trans-boundary context, as well as all other stakeholder questions presented directly to the Romanian Government.
"In our Annex, we provide answers to each of the 5610 questions and 93 contestations put forward," said Alan R. Hill, President and CEO. "While the Romanian Government sent us the questions on January 31, 2007, we have been working since last August to identify and answer likely questions. That preparatory work allowed us to provide the detailed answers we delivered today. I want to thank the more than 150 members of our Annex team for the many months of work that produced such a comprehensive product."
The Annex, which runs to 12,600 English pages (12,900 Romanian pages), provides detailed responses to each question, incorporating environmental, social, cultural, technical and legal aspects of the Rosia Montana Project into the answers. In cases where questions suggested a need for more information and analysis, the Company commissioned in-depth studies, which are also presented to the Romanian Ministry of Environment as part of the Annex. Examples include an independent Water Quality Modeling Study that was designed to determine river water quality downstream of the proposed mine from two perspectives: firstly, assessing the beneficial impacts of the clean up of past ("historical") mining pollution and secondly, assessing the potential impacts resulting from worst case scenario pollution events from the Rosia Montana Project. Work was also done to detail the costs of developing the area for tourism alternatives both in the absence of the new mining project and as a parallel program to the new mine.
Under Romanian law, the Technical Assessment Committee ("TAC"), comprised of government officials from the various Ministries of the Romanian Government involved in the permitting process, is required to schedule a meeting within 40 business days to review the project, the EIA and our responses to the questions asked during the public consultation. The TAC could recommend approval of the project or require further clarification from the Company. The Romanian Government makes the final determination on EIA approval.
In line with our previous guidance we submitted the Annex in spring 2007, we continue to work toward EIA approval during summer 2007 and provided we are able to purchase the necessary properties and obtain the other permits and approvals, we would expect receipt of the construction permits fall 2007.
The EIA complies with all relevant EU directives, Romanian law and international best practices and as a result, requires no exceptions or relief from any law or directive.
About Gabriel
Gabriel is a Canadian based resource company committed to responsible mining and sustainable development in the communities in which it operates. Gabriel is currently engaged in the exploration and development of mineral properties in Romania and is presently engaged in the development of its 80% owned Rosia Montana gold project.
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