G Mining Ventures Receives Interim Environmental Permit for the Oko West Gold Project in Guyana

Rhea-AI Summary

G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF) has received an interim environmental permit (IEP) from Guyana's Environmental Protection Agency for its Oko West Gold Project. The one-year IEP, along with a 'No Objection' letter from the Guyana Forestry Commission, enables GMIN to begin early works construction activities in H1-2025.

Planned early works include: barge landing facility, main access road and internal roads, airstrip, permanent camp facility, water and sewage treatment plants, and power generation and communication tower. The company's development timeline includes Feasibility Study publication and full permit in Q2-2025, followed by a formal construction decision in H2-2025.

The public can access the Environmental Impact Assessment and Environmental Impact Statement submissions through various channels, including GMIN's website. A 60-day comment period, EPA review, and disclosure meetings will precede the final environmental permit decision.

Positive

• Received interim environmental permit enabling early works construction
• Obtained 'No Objection' letter from Guyana Forestry Commission
• Early works activities to commence ahead of schedule in H1-2025

Negative

• Final environmental permit still pending EPA review and 60-day public comment period
• Full construction decision not expected until H2-2025

BROSSARD, QC, Jan. 7, 2025 /PRNewswire/ - G Mining Ventures Corp. ("GMIN" or the "Corporation") (TSX: GMIN) (OTCQX: GMINF) is pleased to announce that it has received an interim environmental permit (the "Interim Environmental Permit" or "IEP") from Guyana's Environmental Protection Agency ("EPA") in response to its Environmental Impact Assessment ("EIA") and Environmental Impact Statement ("EIS") submissions (jointly, "ESIA") made in November 2024 for the Corporation's Oko West Gold Project ("Oko West" or the "Project").

The IEP is valid for one year and, together with the "No Objection" letter received from the Guyana Forestry Commission, GMIN has fulfilled the requirements to initiate early works construction activities.

GMIN intends to advance the following early works activities in H1-2025:  

• Barge Landing facility
• Main access road and internal roads
• Airstrip
• Permanent camp facility
• Water and sewage treatment plants
• Power generation and communication tower

"The approval of the Interim Environmental Permit represents an important step in reaching a construction decision for the Oko West Project," commented Louis-Pierre Gignac, President & CEO. "The receipt of this permit supports a collaborative engagement between Guyana's EPA, Forestry Commission and nearby communities in Region 7 ensuring alignment with GMIN's mine development activities in country. We are excited to have the opportunity to commence early works activities ahead of schedule and to grow the local team in preparation for the main construction phase." 

The public can access the Oko EIA and EIS submissions in the National Library, University Library, the Regional Democratic Council Region 7 office and on GMIN's website (Oko West Gold Project page).  

Following a 60-day comment period, EPA review of the submission, disclosure meetings and publication of the final ESIA report, the EPA will reach a decision with respect to the granting of the final environmental permit for Oko West.

Looking ahead, additional development catalysts at Oko West include:

• Commencement of early works (Q1-2025)
• Feasibility Study publication (Q2-2025)
• Full permit (Q2-2025)
• Formal construction decision (H2-2025)
• Continuation of detailed engineering (2025)
• Greenfield and brownfield exploration (2025)

About G Mining Ventures Corp. 

G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF) is a mining company engaged in the acquisition, exploration and development of precious metal projects to capitalize on the value uplift from successful mine development. GMIN is well-positioned to grow into the next mid-tier precious metals producer by leveraging strong access to capital and proven development expertise. GMIN is currently anchored by the Tocantinzinho Gold Mine ("TZ") in Brazil and Oko West Gold Project in Guyana, both mining friendly and prospective jurisdictions. 

Additional Information 

For further information on GMIN, please visit the website at www.gmin.gold or contact:  

Jessie Liu-Ernsting 
Vice President, Investor Relations and Communications 
647.728.4176 
ir@gmin.gold 

Cautionary Statement on Forward-Looking Information 

All statements, other than statements of historical fact, contained in this press release constitute "forward-looking information" and "forward-looking statements" within the meaning of certain securities laws and are based on expectations and projections as of the date of this press release. Forward-looking statements contained in this press release include, without limitation, those related to (i) the beginning of site preparation and early works construction activities at Oko West; (ii) the enumerated activities to be advanced during H1-2025; (iii) the quoted comments of GMIN's President & CEO; (iv) the above-described steps under which the EPA will reach its final decision (e.g., comment period, disclosure meetings); (v) the above-listed development catalysts at Oko West; and (vi) more generally, the section entitled "About G Mining Ventures Corp.". 

Forward-looking statements are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Such assumptions include, without limitation, those relating to the price of gold and currency exchange rates, those outlined in the ESIA and those underlying the items listed in the above section entitled "About G Mining Ventures Corp.". 

Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that, notably but without limitation, (i) receiving the IEP and the "No Objection" letter will guarantee the issuance of the final environmental permit for Oko West, or (ii) GMIN will advance the above-listed activities contemplated for H1-2025 on a timely basis, or (iii) the above-listed development catalyst at Oko West will materialize as contemplated, or (iv) the EPA process to issue and deliver the final environmental permit for Oko West will unfold as contemplated, or (v) more generally, GMIN will achieve its stated objectives for TZ and Oko West or  use TZ and Oko West to grow GMIN into the next mid-tier precious metals producer, as future events could differ materially from what is currently anticipated by the Corporation. In addition, there can be no assurance that Brazil and/or Guyana will remain mining friendly and prospective jurisdictions.  

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in the Corporation's other filings with the securities regulators of Canada including, but not limited to, the cautionary statements made in the relevant sections of the (i) Annual Information Form of G Mining TZ Corp. (then known as G Mining Ventures Corp.) dated March 27, 2024, for the financial year ended December 31, 2023, (ii) Annual Information Form of G Mining Guyana Corp. (then known as Reunion Gold Corporation) dated April 25, 2024, for the financial year ended December 31, 2023, and (iii) Management Discussion & Analysis. The Corporation cautions that the foregoing list of factors that may affect future results is not exhaustive, and new, unforeseeable risks may arise from time to time. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law. 

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SOURCE G Mining Ventures Corp

FAQ

What permits has GMINF received for the Oko West Gold Project in Guyana?

GMINF has received an interim environmental permit from Guyana's EPA and a 'No Objection' letter from the Guyana Forestry Commission in January 2025.

When will GMINF begin early works construction at Oko West?

GMINF plans to begin early works construction activities in H1-2025, including development of barge landing facility, roads, airstrip, and camp facilities.

What is the timeline for GMINF's Oko West Project development in 2025?

The timeline includes early works in Q1-2025, Feasibility Study and full permit in Q2-2025, and formal construction decision in H2-2025.

What infrastructure will GMINF develop during the early works phase?

GMINF will develop barge landing facility, main access road, internal roads, airstrip, permanent camp facility, water and sewage treatment plants, and power generation and communication tower.

What is the process for GMINF to obtain the final environmental permit?

The process includes a 60-day public comment period, EPA review of submissions, disclosure meetings, and publication of the final ESIA report before EPA makes its decision.