Lion Copper & Gold Regains Critical Water Rights for Yerington Copper Project
Lion Copper and Gold (LCGMF) has successfully negotiated a Settlement Agreement with the Nevada Division of Water Resources and State Engineer to reinstate previously forfeited water rights for the Yerington Copper Project. The agreement secures 6,014 acre-feet of primary groundwater rights for mining purposes, resolving all outstanding legal proceedings related to earlier water rights forfeitures.
The State has officially rescinded its notice of forfeiture, restoring the company's water rights to good standing. Lion CG will maintain compliance through regular applications for extensions of time until the water is put to beneficial use for mining operations. The company remains on track to complete the Project's Pre-Feasibility Study by June 2025.
Lion Copper and Gold (LCGMF) ha negoziato con successo un Accordo di Transazione con la Divisione delle Risorse Idriche del Nevada e l'Ingegnere Statale per ripristinare i diritti idrici precedentemente forfeiti per il Yerington Copper Project. L'accordo garantisce 6.014 acri-piedi di diritti primari sulle acque sotterranee per scopi minerari, risolvendo tutte le controversie legali in sospeso relative alle precedenti forfeiture dei diritti idrici.
Lo Stato ha ufficialmente annullato il suo avviso di forfeiture, ripristinando i diritti idrici dell'azienda in uno stato di buona standing. Lion CG manterrà la conformità attraverso regolari domande di proroga fino a quando l'acqua non sarà utilizzata in modo vantaggioso per le operazioni minerarie. L'azienda rimane in linea per completare lo Studio di Pre-Fattibilità del Progetto entro giugno 2025.
Lion Copper and Gold (LCGMF) ha negociado con éxito un Acuerdo de Liquidación con la División de Recursos Hídricos de Nevada y el Ingeniero del Estado para restablecer los derechos de agua previamente perdidos para el Yerington Copper Project. El acuerdo asegura 6,014 acre-pies de derechos primarios de agua subterránea para fines mineros, resolviendo todos los procedimientos legales pendientes relacionados con las anteriores pérdidas de derechos de agua.
El Estado ha rescindido oficialmente su aviso de pérdida, restaurando los derechos de agua de la compañía a un estado de buena reputación. Lion CG mantendrá el cumplimiento a través de solicitudes regulares de extensiones de tiempo hasta que el agua se utilice de manera beneficiosa para las operaciones mineras. La empresa sigue en camino para completar el Estudio de Pre-Factibilidad del Proyecto para junio de 2025.
라이온 구리 및 금 (LCGMF)는 네바다 수자원국 및 주 엔지니어와 합의서를 성공적으로 체결하여 예링턴 구리 프로젝트에 대한 이전에 몰수된 수자권을 복원했습니다. 이 합의는 광업 목적으로 6,014 에이커-피트의 주요 지하수 권리를 확보하며, 이전의 수자권 몰수와 관련된 모든 미해결 법적 절차를 해결합니다.
주 정부는 공식적으로 몰수 통지를 철회하여 회사의 수자권을 정상 상태로 복원했습니다. 라이온 CG는 수자원이 광업 운영에 유익하게 사용될 때까지 정기적으로 시간을 연장하는 신청을 통해 준수를 유지할 것입니다. 이 회사는 2025년 6월까지 프로젝트의 사전 타당성 연구를 완료할 예정입니다.
Lion Copper and Gold (LCGMF) a réussi à négocier un Accord de Règlement avec la Division des Ressources en Eau du Nevada et l'Ingénieur d'État pour rétablir des droits d'eau précédemment confisqués pour le Yerington Copper Project. L'accord sécurise 6 014 acre-pieds de droits d'eau souterraine principaux à des fins minières, résolvant toutes les procédures juridiques en cours liées aux précédentes confiscations de droits d'eau.
L'État a officiellement annulé son avis de confiscation, restaurant les droits d'eau de l'entreprise à un bon statut. Lion CG maintiendra sa conformité par des demandes régulières de prolongations jusqu'à ce que l'eau soit utilisée de manière bénéfique pour les opérations minières. L'entreprise est sur la bonne voie pour terminer l'Étude de Pré-Faisabilité du Projet d'ici juin 2025.
Lion Copper and Gold (LCGMF) hat erfolgreich eine Vergleichsvereinbarung mit der Nevada Division of Water Resources und dem Staatsingenieur verhandelt, um zuvor verfallene Wasserrechte für das Yerington Copper Project wiederherzustellen. Die Vereinbarung sichert 6.014 acre-feet an primären Grundwasserrechten für Bergbauzwecke und löst alle ausstehenden rechtlichen Verfahren im Zusammenhang mit früheren Wasserrechtsverfall.
Der Staat hat offiziell seine Mitteilung über den Verfall zurückgezogen und die Wasserrechte des Unternehmens in einen guten Stand wiederhergestellt. Lion CG wird die Einhaltung durch regelmäßige Anträge auf Fristverlängerungen aufrechterhalten, bis das Wasser vorteilhaft für die Bergbauoperationen genutzt wird. Das Unternehmen liegt im Zeitplan, um die Machbarkeitsstudie des Projekts bis Juni 2025 abzuschließen.
- Secured important 6,014 acre-feet water rights necessary for mining operations
- Resolution of all outstanding legal proceedings related to water rights
- Pre-Feasibility Study remains on schedule for June 2025 completion
- Water rights require ongoing compliance through regular extension applications
- Project not yet in production phase, requiring continued demonstration of progress
Strategic Settlement Agreement Reached With State of Nevada
Yerington, Nevada--(Newsfile Corp. - March 13, 2025) - Lion Copper and Gold (OTCQB: LCGMF) (CSE: LEO) ("Lion CG" or "the Company") is pleased to announce the successful negotiation of a Settlement Agreement ("the Agreement") with the Nevada Division of Water Resources and the Nevada State Engineer (collectively, the "State") to reinstate previously forfeited water rights essential for the development of the Yerington Copper Project (the "Project").
This Agreement successfully resolves all outstanding legal proceedings related to the forfeiture of specific water rights (see news releases dated July 26, 2021 and September 1, 2023). Under the terms of the Agreement, Lion CG has secured its full allocation of 6,014 acre-feet of primary groundwater water rights designated for mining uses, representing a crucial resource for the Project's advancement.
As a result of this Agreement, the State has officially rescinded its notice of forfeiture, restoring the Company's water rights to good standing. Moving forward, Lion CG will maintain compliance by filing regular applications for extensions of time (EOTs) until the water is put to beneficial use for mining purposes.
The Agreement highlights the value of productive collaboration between private industry and regulatory authorities in promoting sustainable and responsible mining development in Nevada.
Steven Dischler, CEO of Lion CG, states, "We would like to thank the Nevada Division of Water Resources and the Nevada State Engineer for the time and effort they put into working together with us to get this Agreement in place. Having certainty of water represents a major step forward in advancing our Project toward domestic copper production right here in Yerington, Nevada. A key condition of future EOT applications will be Lion CG's demonstration of consistent progress in advancing the Project toward production. We remain fully committed to maximizing the benefits this Agreement unlocks for the State of Nevada, Lyon County and the surrounding communities. We look forward to continuing our collaboration with our regulatory partners and other stakeholders to earn our social license to operate, while positively contributing to the economic growth of Mason Valley and the State of Nevada."
Lion CG confirms it remains on schedule to complete the Project's Pre-Feasibility Study by June 2025 (see news release dated February 4, 2025).
About Lion CG
Lion Copper and Gold Corp. is advancing its flagship copper project in Yerington, Nevada through an Option to Earn-in Agreement with Nuton LLC, a Rio Tinto Venture.
Further information can be found at www.lioncg.com.
On behalf of the Board of Directors
Steven Dischler
Chief Executive Officer
775-463-9600
For more information please contact:
Email: info@lioncg.com
Website: www.lioncg.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/244477
FAQ
How many acre-feet of water rights did Lion Copper and Gold (LCGMF) secure for the Yerington Project?
When will Lion Copper and Gold (LCGMF) complete the Yerington Project Pre-Feasibility Study?
What was the outcome of LCGMF's water rights settlement with Nevada authorities?
What are the compliance requirements for LCGMF to maintain its water rights?
