SRG Mining Inc. Awards EPCM to DRA Global For Its Lola Graphite Project
MONTREAL, April 15, 2020 - SRG Mining Inc. (TSXV: SRG) ("SRG" or the "Company") is pleased to announce that DRA Global ("DRA") has been selected as the provider of Engineering, Procurement and Construction Management ("EPCM") services for SRG's Lola Graphite Project in Guinea. This selection is the result of a competitive tender process where several international engineering firms were invited and responded with qualifying and attractive proposals. Over the past three years, DRA has assisted SRG with the evaluation of the Lola Graphite Project, having been involved with the project from Preliminary Economic Assessment ("PEA"), to the most recent Feasibility Study ("FS").
DRA, and its subsidiaries such as SENET, have a long and successful history of delivering Resources projects on the African Continent, most recently being involved in the construction of Alufer's Bel Air bauxite project and Managem's Tri-K gold project, both in Guinea. This historic knowledge and experience, combined with expertise of the latest processing technology, enable DRA to successfully design and execute mining and minerals processing projects, particularly in West Africa. The engineering phase of the project will be done through the DRA Offices in Montreal and Toronto and the site-based execution will be led by DRA's subsidiary SENET.
Commenting on the appointment of DRA, Ugo Landry-Tolszczuk, President and Chief Operating Officer of SRG, said, "Our tender process cemented our belief that DRA is the best partner for SRG to successfully complete the design and construct our Lola Graphite project. DRA has been involved in the Lola project from the PEA, and the DFS through their offices in Montreal and Toronto and now through to the EPCM delivery. They have gained valuable knowledge throughout this time and are very well positioned to successfully execute the construction of the Lola project. We look forward to continuing to work with DRA and reaping the benefits of this mutually beneficial relationship."
Andrew Naude, CEO of DRA Global said: "Awarding the execution of this internationally important Graphite project on the African Continent to DRA is testament to DRA's position as the preferred technical partner for projects of this nature. It reinforces DRA's position as the preferred partner for the delivering of projects on the Continent. DRA is extremely pleased to have been selected by SRG for the execution of the project. DRA has put together a very strong team for the EPCM of the project all of whom carry industry leading experience in delivering successful on projects, in Africa."
ABOUT DRA
DRA is a multidisciplinary global engineering group that delivers mining, mineral processing, energy, water treatment and infrastructure services from concept to commissioning and into operation. DRA has offices in Africa, Australia, Canada, Peru, China and the United States. Met-Chem, a division of DRA Americas Inc., was originally established in 1969 as a consulting engineering company, headquartered in Montreal, and provides a wide range of technical and engineering services.
ABOUT SRG MINING
SRG Mining is a Canadian-based mining company focused on developing the Lola graphite deposit located in the Republic of Guinea, West Africa. SRG is committed to operating in a socially, environmentally, and ethically responsible manner.
For additional information, please visit SRG's website at www.srgmining.com.
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FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking information" within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as "firm", "anticipated", "potential", "will", "continue", "demonstrate", "deliver", "believe", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would" or "might". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: (i) volatile stock price; (ii) the general global markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk associated with exploration, development and operations of mineral deposits and mine plans for the Company's mining operations; (v) the risk associated with establishing title to mineral properties and assets including permitting, development, operations and production from the Company's operations being consistent with expectations and projections; (vi) fluctuations in commodity prices, finding offtake takers and potential clients or enforcing such agreements against same and other risks and factors described or referred to in the section entitled "Risk Factors" in the MD&A of the Company and which is available at www.sedar.com, all of which should be reviewed in conjunction with the information found in this news release.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company's business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is given as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.
SOURCE SRG Mining Inc.
Contact
Ugo Landry-Tolszczuk, Email: ugo.landry.tolszczuk@srgmining.com; Benoit La Salle, FCPA FCA, Email: benoit.lasalle@srgmining.com