Astur Gold Corporation
TSX VENTURE : AST
FRANKFURT : CDC

Astur Gold Corporation

November 28, 2012 14:03 ET

Astur Gold Announces Approval of Environmental Impact Assessment for Mine Development at Salave

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 28, 2012) - Astur Gold Corp. (TSX VENTURE:AST)(FRANKFURT:CDC) ("Astur Gold" or the "Company") is pleased to announce that the Commission for Environmental Affairs of the Principality of Asturias ("CAMA") has issued a positive Environmental Impact Statement ("EIS") for mine development at the Salave gold project in Asturias, Spain. The EIS approves the majority of the elements in the Environmental Impact Assessment ("EIA") the Company submitted on May 17, 2012, including the construction of the underground mine, 2.7km decline, an underground crushing plant, ventilation shafts, waste dumps, and surface stockpiles, as well as ancillary facilities associated with the planned mine such as access, the power line, and the concrete plant.

Additional information regarding water quality discharge limits and handling was requested before approving the mill and tailings facilities. Astur Gold is moving to expedite requested info as soon as possible. The CAMA did not include the planned exploration drift and its auxiliary facilities because these were not considered critical to the process of mineral extraction and therefore the environmental impacts are avoidable.

"We are grateful for the outstanding contribution and support of thousands of members of the local community who have shared their ideas and concerns regarding the social, environmental, and economic aspects of the project. We are extremely pleased with the Asturian Government's approval of all major mining elements of the EIA, which is the most important step toward bringing the Salave gold project into production," stated Astur Gold President and CEO, Cary Pinkowski. "Together, our company and the community can now progress toward construction on the mine for the benefit of the entire region. I would like to publicly thank our team in Tapia for their tremendous effort and professionalism in achieving this major milestone."

The meeting was held in Oviedo on November 27, 2012 under the Chairmanship of the Minister of Development, Planning and Environment, Belén Fernández. The agreement has been adopted by the affirmative vote of all representatives of the Principality of Asturias and the CHC.

The Minister of Development, Planning and Environment, Belén Fernández stated this decision is taken "with the law in their hands, which will reconcile environmental protection and defense of economic activity."

Astur Gold is excited about the future given this major permitting success on one of the highest valued assets in Europe. The share count remains intact over the last two years at only 34.5 million shares outstanding. Astur Gold is poised to deliver substantial returns to shareholders.

ABOUT ASTUR GOLD

Astur Gold is developing its 100% owned Salave Gold Project in Asturias, northern Spain. Salave is one of the largest undeveloped gold deposits in Western Europe. Astur Gold is building a partnership with the people of Asturias to generate sustainable economic benefits for the region while balancing the needs of environmental protection and social community development.

ON BEHALF OF THE BOARD

Cary Pinkowski, Chief Executive Officer, President and Director

Mineral resources that are not mineral reserves do not have demonstrated economic viability.

This document contains certain forward-looking statements which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectation implied by these forward-looking statements.

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.

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