"investingnews.com"

Otso Receives All Approvals to Restart Operations

(TheNewswire)

Otso Gold Corp.

October 12, 2021 TheNewswire - Toronto, ON Otso Gold Corp. ("Otso" or the "Company"), (TSXV:OTSO) (OTC:FIEIF) is pleased to announce the receipt of all necessary approvals for the restart of operations and the pouring of gold at the Otso Gold Mine (the ‘Mine') from the regulatory authorities in Finland.

The Mine's approval clears the way for the Company to continue its ramp up to production.

The approvals were received from each of the Centre  for Economic Development, Transport and the Environment ("ELY") and The Finnish Safety and Chemicals Agency ("TUKES").

As previously announced all Preparatory Work required for the start of production has been completed and the Mine is ramping up production. All equipment on site has been serviced, upgraded, repaired, and inspected to comply with all environmental, safety and health regulatory requirements of Finland.

Otso would like to specifically thank ELY and TUKES for their meaningful engagement throughout the process and their diligence in ensuring the highest standards are adopted in the interest of all stakeholders.

Brian Wesson stated: ‘the approval to mine and process is another major milestone for the Company, with permission to enter into production in place the focus is now solely on continuing and accelerating the ramp up to commercial production'.

For further information, please contact:

Clyde Wesson
Vice President

1 917 287 0716
info@otsogold.com
www.otsogold.com

For further information, please contact:

Clyde Wesson
Vice President
1 917 287 0716

info@otsogold.com
www.otsogold.com

Caution

The Company cautions that it has not defined or delineated any proven or probable reserves for the Otso Mine Project and mineralization estimates may therefore require adjustment or downward revision based upon further exploration or development work or actual production experience. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

The Company also cautions that the decision by the Company to proceed to develop the Osto Mine Project and extract mineralization proceeded without the Company first establishing reserves supported by a technical report and completing a pre-feasibility or feasibility study.  Accordingly, there is a higher risk of technical and economic failure at Osto because development proceeded without first establishing reserves supported by a technical report and completing a feasibility study.  This is particularly relevant as the Company has proceeded with development at Osto on indicated and inferred resources without first completing a preliminary economic report.

Forward-looking Statements

This press release contains forward-looking statements regarding the Company based on current expectations and assumptions of management, which involve known and unknown risks and uncertainties associated with our business and the economic environment in which the business operates. All such statements are forward-looking statements under applicable Canadian securities legislation. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution our readers of this press release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's continuous disclosure documents that can be found on SEDAR ( www.sedar.com ) under the Company's issuer profile. The Company does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

About the Company

Otso Gold Corp. wholly owns the Otso Gold Mine near the town of Raahe in Finland. The Otso Gold Mine is developed, fully permitted, has all infrastructure in place, two open pits and is progressing towards production in October 2021 to ramp up towards processing ore at name plate capacity of 2 million tonnes per annum.

Neither the 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.

Copyright (c) 2021 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

The Conversation (0)
Blackrock Silver Receives 4.24 Million Dollars from Warrant Exercises and Upsizes Eastern Resource Expansion Drill Program at Tonopah West

Blackrock Silver Receives 4.24 Million Dollars from Warrant Exercises and Upsizes Eastern Resource Expansion Drill Program at Tonopah West

Blackrock Silver Corp. (TSXV: BRC,OTC:BKRRF) (OTCQX: BKRRF) (FSE: AHZ0) ("Blackrock" or the "Company") is pleased to announce the receipt of an aggregate total of C$ $4,244,838.89 in cash proceeds from the exercise of 9,830,880 previously issued common share purchase warrants of the Company ("Warrants") since July 8, 2025.

After including the common shares ("Common Shares") of the Company issued as a result of such Warrant exercises, there are a total of 325,490,026 Common Shares issued and outstanding as of the date hereof.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Kairos Minerals

Further wide intercepts from Main Hill support gold resource growth at Mt York, WA

Wide and high-grade results from Main Hill drilling point to resource growth; additional drilling extending ‘Monster Zone’ now completed with results awaited

Kairos Minerals Ltd (ASX:KAI) (“KAI” or the “Company”) is pleased to announce results from a further nine diamond holes at its Mt York Gold Project in WA’s Pilbara, where current resources at the Main Trend sit at 1.4Moz Au. Drill results are from Main Hill (five holes), Breccia Hill (one hole) and Pebble Mound (three holes) Table 1) and are shown on the Leapfrog oblique-section (Figure 1), drill plan (Figure 2), long-section (Figure 3) and cross-sections (Figures 4 and 5).Latest results are from drilling at Mt York’s Main Hill, which remains a very large resource target for the Company.

Keep reading...Show less
Stack of gold coins with a buffalo design on a wooden surface.

Ken Hoffman: Gold's Path is Clear, Price to Hit US$10,000 Long Term

Ken Hoffman of Red Cloud Securities shares his gold price target of US$10,000 per ounce.

In his view, the US dollar is set to decline to its lowest level in the last 20 years. Given its usual relationship with gold, that could send the price to US$7,000, and from there it could overshoot.

Keep reading...Show less
Asra Minerals Managing Director Paul Stephen.

Asra Minerals’ Recent Assays Confirm “Economic and Mineable” Mineralisation, Exec Says

Asra Minerals’ (ASX:ASR) recent drill results from its Leonora South gold project in Western Australia have confirmed “economic mineralisation” comparable to operating, high-grade gold mines in the region, said Paul Stephen, the company’s managing director.

“The challenge for the Kookynie area … is it's been mined since 1880 — generally very high grade, but generally narrow veins. And our recent intersection of 14 metre widths, very shallow, 10 metres from surface, is really reflective of our aim to change that narrative, so that we're actually chasing more economic and more mineable mineralisation,” Stephen said.

He added that the results compare favourably with high-grade historic mines in the region, like Cosmopolitan, which closed down in 1922, and current operating mines like Genesis Minerals' (ASX:GMD) Leonora operations.

Keep reading...Show less

Latest Press Releases

Related News

×