VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 16, 2013) - True North Gems Inc. (TSX VENTURE:TGX) ("True North" or the "Company") is pleased to announce the schedule for the upcoming Public Hearing Process and Information Meetings regarding the Company's exploitation permit application for the Aappaluttoq Ruby Deposit in SW Greenland.
The official Public Hearing Process began on June 17th and will be completed by September 12, 2013. During this time, all relevant documents are made accessible to the public by Greenland's Bureau of Minerals and Petroleum ("BMP") and True North Gems. The accessibility allows the public to contribute with their opinions and comments before the closure date.
As part of True North Gems' efforts to pursue an open and transparent process, the Company will - in agreement with the BMP - host its own Information Meetings prior to the BMP's Public Hearing Meetings. The purpose of these Company-hosted Information Meetings is to:
- Present information on the Company's proposal and its opportunities in a more accessible format than the technically structured contents of the legally required SIA and EIA.
- To facilitate an informal dialogue with the relevant communities benefiting from the exploitation.
True North Gems' Information Meetings will be held on August 12th in Qeqertarsuatsiaat (Fiskenaesset), August 13th in Paamiut and August 15th in Nuuk.
"All planning and logistical work is completed for the initial round, and together with our Greenlandic stakeholder partners the Company is looking forward to a well attended assembly at each of the venues" stated Nicholas Houghton, President and CEO of True North "The Public Hearing Process and Information Meetings will be an open and informative opportunity to learn first hand how the production of ruby and pink sapphire will benefit Greenland and each community".
The BMP will oversee and chair The Public Hearings meetings of which the agenda, dates and times will be published separately by the BMP.
The Company, with the backing and confidence of the communities, looks forward to advancing the Aappaluttoq Ruby Deposit from exploration into the exploitation phase and building Greenland's first gemstone mine.
True North would also like to thank Mr. Graham Nicholls for his role as Executive Vice President. Mr. Nicholls will be stepping down from the executive position but will continue to provide True North with consultation services throughout the Hearing Process and Construction Phases.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This document contains "forward-looking information" and "forward-looking statements" (together, "forward-looking statements") within the meaning of applicable securities legislation, which are made as of the date of this document or the document(s) referred to herein. Statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "plans", "projects", "estimates", "intends", "strategy", "goals", "objectives" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements. Forward-looking statements include, without limitation, statements with respect to: the amount of mineral reserves and mineral resources; the amount of future production over any period; net present value and internal rates of return of the proposed mining operation; capital costs; operating costs; strip ratios and mining rates; and mine life. The forward-looking statements are made based upon certain assumptions which, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements expressed or implied by the forward-looking statements. These assumptions include, without limitation: the price of gemstone products produced; anticipated costs; the presence of and continuity of gemstones at modeled grades and values; the capacities of various machinery and equipment; the availability of personnel, machinery and equipment at estimated prices; exchange rates; appropriate discount rates; tax rates applicable to the proposed mining operation; financing structure and costs; anticipated mining losses and dilution; gemstone recovery rates; reasonable contingency requirements; and receipt of regulatory approvals on acceptable terms. By their very nature, forward-looking statements involve inherent risks and uncertainties that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements.
These include, without limitation: price volatility, discrepancies between actual and estimated production, mineral reserves and resources and metallurgical recoveries, mining operational and development risks, regulatory restrictions (including environmental regulatory restrictions and liability), activities by governmental authorities (including changes in taxation), currency fluctuations, the speculative nature of gemstone exploration, the global economic climate, dilution, share price volatility, competition, loss of key employees; additional funding requirements and defective title to mineral claims or property]. This list is not exhaustive. See also, for example, the risks disclosed in the Company's other disclosure documents filed at www.sedar.com, including, without limitation, those disclosed in the Company's management's discussion & analysis. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements, except as otherwise required by applicable securities legislation.