RTG Mining: The Philippines Announces the Lifting Of the Moratorium on Exploration Licenses
Subiaco, Western Australia (FSCwire) - The Board of RTG Mining Inc. (“RTG”, the “Company”) (TSX Code: RTG, ASX Code: RTG) is pleased to announce the completion of the audit of all mining operations pursuant to Department of Environment and Natural Resources (“DENR”) Memorandum Order No. 2016-01, re: Audit of All Operating Mines and Moratorium on New Mining Projects. In line with the President’s Economic Agenda, particularly on increasing competitiveness and the ease of doing business to attract local and foreign direct investment to the country, the moratorium on the acceptance, processing and/or approval of applications for Exploration Permit for metallic and non-metallic minerals has been lifted.
This is the second new mining policy measure in recent months that has been adopted by the new Secretary of the DENR, General Roy Cimatu, following on from the lifting of the moratorium on government approvals for small scale mining projects last month.
RTG believes this is both a welcome and positive development for the industry and looks forward to further confirmed progress particularly in relation to the permitting of new environmentally and socially responsible mines which adopt world best practices.
ABOUT RTG MINING INC
RTG Mining Inc. is a mining and exploration company listed on the main board of the Toronto Stock Exchange and Australian Securities Exchange Limited. RTG is focused on a proposal with a landowner lead consortium to secure an exploration licence at the high tonnage copper-gold Panguna Project in Bougainville PNG and the high grade copper/gold/magnetite Mabilo Project in the Philippines, while also identifying major new projects which will allow the Company to move quickly and safely to production.
RTG has an experienced management team which has to date developed seven mines in five different countries, including being responsible for the development of the Masbate Gold Mine in the Philippines through CGA Mining Limited, and has B2Gold as one of its major shareholders in the Company. B2Gold is a member of both the S&P/TSX Global Gold and Global Mining Indices.
Australian Contact US Contact
President & CEO – Justine Magee Investor Relations – Jaime Wells
Tel: +61 8 6489 2900 +1 970 640 0611
Fax: +61 8 6489 2920
CAUTIONARY NOTE STATEMENT
This announcement includes certain “forward-looking statements” within the meaning of Canadian and applicable securities legislation. Statement regarding interpretation of exploration results, plans for further exploration and accuracy of mineral resource and mineral reserve estimates and related assumptions and inherent operating risks, are forward-looking statements. Forward-looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such 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 RTG’s expectations include uncertainties related to fluctuations in gold and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; the need for cooperation of government agencies in the development of RTG’s mineral projects; the need to obtain additional financing to develop RTG’s mineral projects; the possibility of delay in development programs or in construction projects and uncertainty of meeting anticipated program milestones for RTG’s mineral projects and other risks and uncertainties disclosed under the heading “Risk Factors” in RTG’s Annual Information Form for the year ended 31 December 2017 filed with the Canadian securities regulatory authorities on the SEDAR website at sedar.com. The forward‐looking statements made in this announcement relate only to events as of the date on which the statements are made. RTG will not release publicly any revisions or updates to these forward‐looking statements to reflect events, circumstances or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.
US SECURITIES LAWS
This news release shall not constitute an offer to sell or a solicitation of an offer to buy any of the Company’s securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom.