Exploration Permit Approval Imminent

RNS Number : 9248B

Georgian Mining Corporation

26 September 2018

 

Georgian Mining Corporation / EPIC: GEO / Sector: Natural Resources

26^th September 2018

Georgian Mining Corporation

('GEO' or the 'Company')

Georgian Mining Exploration Permit Approval Imminent

Georgian Mining Corporation announces the results of a meeting with the new Minister of Economy and Sustainable Development, Mr. Georga Kobulia, on Friday 21^st September in Tbilisi, Georgia.  

Mike Struthers, Chief Executive Officer said:  

"Mr. Kobulia settled full-time into his role as Minister of Economy and Sustainable Development on 10^th September and I was able to meet with him and the Head of the Mining Agency, Ms. Maia Zavrashvili, at the end of last week.  We had a productive discussion around the history of the Company, our plans in Georgia, details of our exploration successes, the pending permit approval, and the Government's plans to significantly expand the country's minerals industry.  

"The Minister recognises the quality of our application and our urgency to resolve the issue quickly. He said we can be optimistic for a positive outcome very soon.

"As mentioned previously, this delay has arisen from the Government reorganisation which started in late June and it has taken some time for the new Ministers to divest themselves of their previous responsibilities and to settle into their new roles. I'm very pleased that we finally had the opportunity to present our Company and our permit application at this level and I'm confident that we'll have a positive response very soon.

"I'm also encouraged by the very constructive meeting I had with the Deputy Minister of Environmental Protection and Agriculture, Ms. Nino Tandilashvili, in which we shared our common views on "Responsible Mining" and the Government's migration to European Union standards. Furthermore, we also discussed our Company's plans for environmental studies and CSR programmes in concert with the development of our projects.  All of our meetings provided for very positive dialogues and I look forward to working with the Government in the future."

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

**ENDS**

For further information please visit www.georgianmining.com  or contact:

Mike Struthers	Georgian Mining Corporation	Company	Tel: [phone]
Ewan Leggat	S. P. Angel Corporate Finance LLP	Nomad & Broker	Tel: [phone]
Soltan Tagiev	S. P. Angel Corporate Finance LLP	Nomad & Broker	Tel: [phone]
Damon Heath	Shard Capital Partners LLP	Joint Broker	Tel: [phone]
Camilla Horsfall	Blytheweigh	PR	Tel: [phone]
Julia Tilley	Blytheweigh	PR	Tel: [phone]
Simon Woods	Blytheweigh	PR	Tel: [phone]

About Georgian Mining Corporation

Georgian Mining Corporation has 50% ownership and operational control of the Bolnisi Copper and Gold Project in Georgia, situated on the prolific Tethyan Belt, a well-known geological region and host to many high-grade copper-gold deposits and producing mines.  The Bolnisi concession covers an area of over 860 sq km and has a 30-year mining licence with a variety of targets and projects ranging from greenfield exploration / target definition phase through intermediate target-testing phases to more advanced projects including Kvemo Bolnisi East which will advance to Feasibility Study in 2018.  These projects are proximal to existing mining operations owned by the Company's joint venture partner, and their sister production company.  Georgia has an established mining code and is a jurisdiction open to foreign direct investment.

 

END

 

 

MSCBRGDCIGDBGIU