BUCHAREST, Romania, June 10, 2024 (GLOBE NEWSWIRE) -- Euro Sun Mining Inc., (TSX: ESM) ("Euro Sun" or the "Company") through its wholly owned Romanian subsidiary, SAMAX Romania S.R.L., wishes to confirm that the Company has formally begun proceedings to list its Rovina Valley Project (the "Project") with the European Commission as a "strategic project" for the European supply of critical minerals.
Following a meeting held on May 27, 2024 with the Romanian Ministry of Economy, the application for the Project to be designated as a "strategic project" within the European Commission's Critical Raw Materials Act was sanctioned. This positive development will take place whilst Romania continues towards overhauling its existing mining legislation to align with the Critical Raw Materials Act.
Commenting on the Company's application, Mr. Grant Sboros, Chief Executive Officer of the Company, said "We are delighted that we now have the green light from the Romanian Government to proceed to list the Project as a strategic project directly with the European Commission. Holding the second biggest copper resource in Europe, and using the least disruptive modern mining methods, we remain confident that the Project meets all the criteria to now fast-track critical mineral supply for Europe."
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.
The Project supports a circular economy by unlocking much needed investment and job creation in Hunedoara County and, delivers critical minerals necessary for Europe's green energy transition. The Project adopts the latest in modern mining environmental methodology and uses no cyanide or wet tailings in processes.
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 designation of the Project as a strategic project within the Critical Raw Materials Act; changes to existing mining legislation in Romania 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.
The photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/f76de420-786c-4449-89b3-642bc6b6857a
