Miramont Resources Corp. (CSE: MONT, OTCQB: MRRMF, FRA: 6MR) (“Miramont” or the “Company“) announces that an unanticipated regulatory decision will result in a delay of the initial drilling at its Cerro Hermoso project. The Company requested an authorization to initiate exploration activities when it received approval of its Environmental Impact Statement. While normally a simple process, the Peruvian Ministry of Energy and Mines (“MEM”) has delayed final authorization to determine if granting of this permission would possibly affect the collective rights of any indigenous communities in the project area. In that case a government led consultation process with such communities would be required. MEM has said it will review with other relevant Peruvian agencies the current status of any indigenous communities before proceeding.
Miramont would like to emphasize that private individuals hold the surface land to the project, a situation that has been verified on site with the involvement of local authorities and neighboring farming communities. Miramont has agreements with all private surface owners as well as goodwill agreements with the nearby communities. As such, Miramont believes that further review or consultation is unnecessary before granting authorization to drill. The Company understands and shares the Peruvian Government?s need to ensure that the community’s right to information and to express opinions and concerns is always respected. The Company maintains continuous contact with all local stakeholders to achieve this.
Miramont can and will ask the MEM for a reconsideration of the delay based on additional information that demonstrates that the project sits on privately owned land. Should the request for reconsideration be denied, the Company would work with all authorities to facilitate any necessary consultation.
Bill Pincus, Miramont’s President and CEO said, “While we are eager to drill, we understand the need to assure MEM that we have completed all requirements and that local groups are fully consulted and respected. We are confident that we have taken all proper steps to assure this. Our existing agreements with the known property owners and the knowledge that the local community is supportive of our efforts tells us that we are on the right track and we hope to resolve this issue as quickly as possible”. Miramont will provide further information on a timely basis.
National Instrument 43-101 Disclosure
The technical content of this news release has been reviewed and approved by Mr. William Pincus, CPG, President and CEO of Miramont and a Qualified Person as defined by National Instrument 43-101.
About Miramont Resources Corp.
Miramont is a Canadian based exploration company with a focus on acquiring and developing mineral prospects within world-class belts of South America. Miramont’s two key projects are Cerro Hermoso and Lukkacha, both located in southern Peru. Cerro Hermoso is a diatreme-hosted copper dominant polymetallic prospect. Lukkacha is a classic copper-porphyry prospect.
On behalf of the Board of Directors,
MIRAMONT RESOURCES CORP.
William Pincus, President and CEO
For more information, please contact the Company at:
Telephone: (604) 398-4493
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