GALANTAS GOLD CORPORATION
TSXV – “GAL”
AIM – “GAL”
GALANTAS ADVISED OF A POTENTIAL EXTENSION OF JUDICIAL REVIEW HEARING.
29th September 2016. Galantas Gold Corporation (the Company) is, via a Northern Ireland subsidiary, a Notice Party to a Judicial Review of its planning consent for an underground mine on its property at Omagh, County Tyrone, Northern Ireland.
The Company has been notified of a likely extension of the time required for the hearing of the Judicial Review beyond the current 27th-29th September 2016 listing dates. It is now considered likely that, because more time may be required, the Court may look to list a continuance for early December 2016.
The Company understands that the Applicant’s evidence may be heard by the end of the September listing dates. It is anticipated that the planning authorities, who, as Respondent, are defending the Judicial Review, are likely to have their defence heard at the listing in December. Pre-hearing materials have been filed with the Court and the Company stands ready to defend its planning permission, alongside the planning authorities, in a potential December listing.
Meanwhile, the Company, which holds a valid planning consent, will look to continue preparation activities on the site.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, including amongst others, geological matters, development intentions and cash flow expectations, for the Omagh Gold project. Forward-looking statements are based on estimates and assumptions made by Galantas in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that Galantas believes are appropriate in the circumstances. Many factors could cause Galantas’ actual results, the performance or achievements to differ materially from those expressed or implied by the forward looking statements or strategy, including: gold price volatility; discrepancies between actual and estimated production, actual and estimated metallurgical recoveries and throughputs; mining operational risk, geological uncertainties; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign involvement; speculative nature of gold exploration; dilution; competition; loss of or availability of key employees; additional funding requirements; uncertainties regarding planning and other permitting issues; and defective title to mineral claims or property. These factors and others that could affect Galantas’s forward-looking statements are discussed in greater detail in the section entitled “Risk Factors” in Galantas’ Management Discussion & Analysis of the financial statements of Galantas and elsewhere in documents filed from time to time with the Canadian provincial securities regulators and other regulatory authorities. These factors should be considered carefully, and persons reviewing this press release should not place undue reliance on forward-looking statements. Galantas has no intention and undertakes no obligation to update or revise any forward-looking statements in this press release, except as required by law.
Neither 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.
Galantas Gold Corporation
Jack Gunter P.Eng – Chairman
Roland Phelps C.Eng – President & CEO
Telephone: +44 (0) 2882 241100
Grant Thornton UK LLP (Nomad)
Philip Secrett, Richard Tonthat
Telephone: +44(0)20 7383 5100
Whitman Howard Ltd (Broker & Corporate Adviser)
Ranald McGregor-Smith, Nick Lovering
Telephone: +44(0)20 7659 1234