TMAC Receives Nunavut Impact Review Board's Recommendation for Amendments to Doris North Project Certificate to Proceed
TORONTO, ON--(Marketwired - June 15, 2016) - TMAC Resources Inc. (TSX: TMR) ("TMAC" or the "Company") announces that the Nunavut Impact Review Board ("NIRB") recommended to the Minister of Indigenous and Northern Affairs Canada that TMAC's Proposed Amendment to Project Certificate No. 003 for the Doris North Project be allowed to proceed.
TMAC is currently permitted to operate the Doris North Project, located on the north end of TMAC's Hope Bay Project in Nunavut, and to dispose of 458,000 tonnes of tailings (approximately 1 ½ years of currently planned production) into the already permitted tailings impoundment area ("TIA"). The requested amendment increases the number of tonnes that may be disposed in the TIA to 2,500,000 tonnes.
ABOUT TMAC RESOURCES
TMAC holds a 100% interest in the Hope Bay Project located in Nunavut, Canada. TMAC is a fully financed, gold development company. During 2015, TMAC significantly de-risked the Hope Bay Project financially by securing equity and debt financing for gross proceeds of over $350 million providing full funding for the Company to achieve its Path to Production plan, beginning with the Doris Deposit, by the end of 2016. The Company has a board of directors with depth of experience and market credibility and an exploration and development team with an extensive track record of developing high grade, profitable underground mines.
FORWARD-LOOKING INFORMATION
This release contains "forward-looking information" within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. "Forward-looking information" includes statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology. Such forward-looking information includes, without limitation, bringing the Hope Bay Project into production,
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made, Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking information. See "Risk Factors" in the Company's AIF dated February 25, 2016 filed on SEDAR at www.sedar.com for a discussion of these risks.
The Company cautions that 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 information. Accordingly, investors should not place undue reliance on forward-looking information.
SOURCE TMAC Resources Inc.
Contact
For further information please contact:
TMAC Resources Inc.
Catharine Farrow
Chief Executive Officer
416-628-0216
Ann Wilkinson
Vice President, Investor Relations
416-628-0216
www.tmacresources.com
Renmark Financial Communications Inc.
Daniel Gordon
dgordon@renmarkfinancial.com
Tel: (416) 644-2020 or (514) 939-3989
www.renmarkfinancial.com