TORONTO, Oct. 03, 2023 (GLOBE NEWSWIRE) --
Euro Sun Mining Inc., (TSX: ESM) ("Euro Sun" or the "Company") announces that court proceedings at the Cluj-Napoca district court (the "Court") to annul its rezoning environmental endorsement for the Rovina Valley Project (the "Project") have now concluded.
The matter was finally heard at the Court on September 29, 2023 after months of delay. The Court did not entertain further postponements, stating that they would deliver a verdict on the process on the October 16, 2023. This deadline could be subsequently postponed at the Court's discretion.
The Company looks forward to a positive outcome as a result of its extensive legal arguments presented to the Court.
The Project unlocks much needed investment and job creation in Hunedoara County, and delivers critical minerals necessary for Europe's green energy transition. A positive verdict for the Project could end further delays in governance procedures and propels Romania to the forefront of European critical mineral supply, supporting a future green economy and 2050 environmental targets. With the backing of local community leaders, the Project remains a world-class example of mine design with one of the least environmental impacts globally.
About Euro Sun Mining Inc.
Euro Sun is a Toronto Stock Exchange listed mining company focused on the exploration and development of its 100%-owned Rovina Valley gold and copper project located in west-central Romania, which hosts the second largest gold deposit in Europe.
Further information:
For further information about Euro Sun Mining, or the contents of this press release, please contact Investor Relations at info@eurosunmining.com
Caution regarding forward-looking information:
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the timing of court dates and decisions; outcome of litigation with respect to the Project; Europe's energy transition and demand for energy metals; environmental impact of the Project; anticipated economic benefits of the Project and development of the Project. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR at www.sedar.com and on the Company's website at www.eurosunmining.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information 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 information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
The TSX does not accept responsibility for the adequacy or accuracy of this news release.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b372fb82-7c3b-4300-8ea3-c3e9c3996666
