White Mountain Submits Second Round Report to Chilean Environmental Authority, and Chairman Issues Letter to Shareholders
SANTIAGO, Chile, Oct. 30, 2014 (GLOBE NEWSWIRE) -- White Mountain Titanium Corp. ("White Mountain" or the "Company") (OTCQB:WMTM) reports that it has submitted its second round report to Chile's environmental authority, Servicio de Evaluación Ambiental ("SEA"). In April 2014, the Company completed and filed a written response with SEA to a first round of questions and comments posed during a public review of the Company's EIS application. On July 1, 2014, SEA sent the Company a second round of questions and comments, 70% fewer than were raised in the first round. As importantly, by the second round almost half of the government ministries had no further questions or comments and, of those raised, most sought further clarification centered on three issues: water, disaster contingencies and resettlement and community issues.
Following official receipt of the second round of questions and comments, the Company was given 90 working days to prepare and file a written response with SEA. This work has been completed and the report, filed. Whilst the Company is not in a position to forecast when full EIS approval will be issued, ensuring a continuing dialogue with and maintaining strong support from government and local communities remains a primary objective of our project personnel.
Separately, the Company's Chairman and Chief Executive Officer, Mr. Kin Wong, has written and sent out a letter to shareholders stating his strategy and views on the Cerro Blanco project. The full contents of the letter have been posted on the Company's website: www.wmtcorp.com
About White Mountain Titanium Corporation
The Company holds mining concessions on the Cerro Blanco property currently consisting of 41 registered mining exploitation concessions and 34 mining exploration concessions in the process of being constituted, over approximately 17,041 hectares located approximately 39 kilometres west of the City of Vallenar in the Atacama, or Region III, geographic region of northern Chile. The Company's principal objectives are to advance the Cerro Blanco project towards a final engineering feasibility, to secure off-take contracts for the planned rutile concentrate output, and to secure funding or other arrangements to place the project into production, if warranted. It would be the intention to sell the rutile concentrate to titanium metal and pigment producers. Work also continues to investigate the commercial viability of producing a feldspar co-product. The feldspar could find applications in the glass and ceramics industries.
OTCQB Markets has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and, therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
Contact
White Mountain Titanium Corp.
Howard Crosby, Senior Vice-President, Investor Relations
(509) 526 - 3491
Wei Lu, Director
(617) 671 - 0673