VANCOUVER, Dec. 20, 2011 /PRNewswire/ - Guyana Frontier Mining Corp. ("GuyanaFrontier") announced today that an injunction obtained in March 2011 by Ignatius Timmerman ("Timmerman") against the Guyana Geology and Mines Commission (the "GGMC") and Odinga Lumumba ("Lumumba"), one of the principals of Mariwa Mining Company Inc. ("Mariwa Mining") was ordered discharged on December 15, 2011 by the High Court of Guyana. GuyanaFrontier was previously discharged as a defendant to the injunction on May 25, 2011. Timmerman had sought the injunction to prevent the defendants from denying him access to the Sardine Hill property ("Sardine Hill"), which totals 10,427 acres, or 4,220 ha., located in Guyana, South America, about 90 km from the city of Georgetown.
Timmerman alleges to hold five mining claims totaling approximately 138 acres (55.8 ha.) within the boundaries of the Sardine Hill prospecting licence, and conducts a surface gold mining operation there. Mariwa Mining filed a complaint with the GGMC in early 2011 stating that Timmerman's mining claims were invalid. On March 17, 2011, the GGMC acted on Mariwa Mining's complaint and evicted Timmerman and his mining equipment from Sardine Hill. On March 23, 2011, Timmerman applied for and was granted an ex parte injunction against the GGMC, Lumumba, and Guyana Frontier, which allowed him to recommence gold mining operations at Sardine Hill.
The purpose of the December 15, 2011 court hearing, which was subject to various delays since August 2011, was for Timmerman to answer sworn affidavits submitted to the court by the GGMC and Lumumba in June 2011, each stating that Timmerman's alleged mining claims have no legal standing. The GGMC stated in their June 2011 affidavit that Timmerman was notified since November 1996 that the alleged claims had been declared null and void. Neither Timmerman nor his counsel appeared at the December 15th hearing, and the court ordered the injunction discharged.
Lumumba is one of the two principals of Mariwa Mining, a private Guyanese corporation, which is the legal holder of the Sardine Hill prospecting licence that was granted to it by the GGMC in early 2010. Guyana Frontier, the operator of explorations at Sardine Hill, has an option to acquire all of the issued and outstanding shares of Mariwa Mining by making cash and share payments over a period of up to five years (see Guyana Frontier News Release dated April 6, 2010). Mulgravian Ventures Corporation, a private Canadian mineral exploration company, has the option to acquire a 51% interest in Sardine Hill from Guyana Frontier by fulfilling a schedule of exploration expenditures and common share purchase obligations (see Guyana Frontier News Release dated June 8, 2010).
About Guyana Frontier
Guyana Frontier is a public mineral exploration company listed on the TSX Venture Exchange (TSX-V: GYG), and is focused on the exploration, discovery and development of precious metals deposits located within Guyana, South America. Guyana Frontier began acquiring interests in Guyanese exploration properties in 2007, and now holds various rights to obtain working interests in approximately 342,000 acres (138,400 hectares) of prospective lands. Guyana Frontier's goal is to develop a significant gold resource at the Marudi Mountain Gold Project, and to explore its other Guyanese projects using funding from exploration partners. For further information about Guyana Frontier, please visit our website at www.guyanafrontier.com or contact Warren Stanyer, President and CEO, at 604-558-0077.
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FORWARD LOOKING STATEMENTS
This release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements that address activities, events or developments that Guyana Frontier expects or anticipates will or may occur in the future, including such things as the results of litigation in respect of the Sardine Hill property, future exploration activities on the Sardine Hill property, future business strategy, competitive strengths, goals, expansion, growth of Guyana Frontier's businesses, operations, plans and with respect to exploration results generally, the timing and success of exploration activities generally, permitting time lines, government regulation of exploration and mining operations, environmental risks, title disputes or claims, limitations on insurance coverage, timing and possible outcome of any pending litigation and timing and results of future resource estimates or future economic studies.
Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "planned", "expects" or "looking forward", "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or "belief", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements are based on a number of material factors and assumptions, including, the result of litigation proceedings, drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen break downs, that no labour shortages or delays are incurred, that plant and equipment function as specified, and that no unusual geological or technical problems occur. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, negotiations with parties to litigation matters, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of minerals; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company's publicly filed documents. Although Guyana Frontier has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking 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.
SOURCE Guyana Frontier Mining Corp.
