Lahontan Gold Corp. press release
Gabriel CEO addresses Denver Gold Show Conference
TSXV - TSX Venture Exchange · Gold · Silver · Canada
Says Company Remains "On Track" at Rosia Montana
TSX Trading Symbol: GBU
DENVER, Colorado, Sept. 25 /CNW/ - Speaking today at the Denver Gold Conference, Gabriel's President and CEO Alan R. Hill told investors "Gabriel continues its steady progress," providing an update on the timeline for the Company's Rosia Montana gold project in western Romania. In his Denver remarks, Mr. Hill noted that in the third quarter, Gabriel completed the public hearings portion of the Romanian EIA process, taking part in 16 public consultation hearings scheduled by the Romanian Government, 14 in Romania and 2 in Hungary. With the public hearings complete, the Company is currently waiting for the Romanian Ministry of Environment and Water Management (MEWM) to pass back all questions requiring a response. "We expect the list shortly," said Mr. Hill. "In the meantime, we have a team analyzing each question raised in the public meetings, and preparing answers to the questions the Company anticipates receiving." Mr. Hill continued: "We want to make sure we can turn the responses around quickly, which will be in the form of an Annex to our EIA." Once complete, the Annex will be submitted to the Technical Analysis Committee (TAC) within the MEWM for approval and then to cabinet for final approval. Hill reaffirmed that a decision on EIA approval is expected in fourth quarter 2006. Following approval, the Company expects to start construction in the spring of 2007 followed by first gold pour in spring 2009.
Fourth Quarter Priorities
Looking forward to fourth quarter 2006, Mr. Hill identified four key objectives:
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About Gabriel
Gabriel is a Canadian based resource company committed to responsible mining and sustainable development in the communities in which it operates. Gabriel is currently engaged in the exploration and development of mineral properties in Romania and is presently engaged in the development of its 80% owned Rosia Montana gold project.
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