ScoZinc Mining Ltd. (TSX VENTURE:SZM) (‘ScoZinc’ or the ‘Company’) is pleased to announce that, as anticipated, the Company has been granted a 10-year renewal of it’s Industrial Approval Permit enabling the restart of operations at the ScoZinc mine in central Nova Scotia. Studies are currently underway to update estimates included in the project’s PEA which was completed in 2013 and to evaluate options to improve the project restart potential, and are expected to be completed shortly.
With this key permit in place, the Board will review operational plans for the restart, the improving outlook for zinc and lead prices and financial market conditions leading to a final determination for restarting operations at ScoZinc. With a fully permitted mine with existing infrastructure in place, the Company is confident that the potential of this asset can be realized in the current market and, subject to the restart evaluation and financing, management believes initial production can be achieved in 12 to 18 months.
About ScoZinc Mining Ltd.
ScoZinc Mining Ltd. is an established Canadian-based zinc and lead exploration and development company that owns the ScoZinc Mine near Halifax, Nova Scotia. The Company has a strong working capital position and no debt. The Company has 3,941,046 common shares outstanding which are traded on the TSX Venture Exchange under the symbol “SZM”.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This News Release includes certain “forward-looking statements”. All statements other than statements of historical fact included in this release, including without limitation statements regarding the future plans and objectives of ScoZinc, are forward-looking statements that involve various risks and uncertainties. These forward-looking statements include, but are not limited to, statements with respect to information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and may be “forward-looking statements.” Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements.
There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from ScoZinc’s expectations include, among others, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of metals, as well as those factors discussed in the section entitled “Risk Factors” in ScoZinc’s Management’s Discussion and Analysis. Although ScoZinc has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Mr. Joseph Ringwald
President and CEO
+1 (604) 347-7661