TORONTO, ONTARIO--(Marketwire - Dec. 8, 2011) - Solid Gold Resources Corp. ("Solid Gold") (TSX VENTURE:SLD) reports that the hearing date for the First Nation motion seeking to delay drilling at Solid Gold's Lake Abitibi property has been adjourned again without any terms until December 20, 2011. Drilling continues at the property.
NO SMALL MATTER AT LAKE ABITIBI
Solid Gold continues to operate in the middle of a political dispute between First Nations and the Crown.
If the First Nations were successful in their action to stop Solid Gold from drilling on its mineral claims it would be a severe blow to economic development in Northern Ontario. It would set a precedent and will have significant ramifications for the relationship between resource development companies, First Nations, and the Crown.
Shareholders should note that in this action, First Nations are making a claim on the Ontario Government, for among other things:
- a declaration that aspects of the Mining Act (Ontario) are unconstitutional and inconsistent with the Crown's duty to consult and accommodate;
- a declaration that it is a constitutional violation for the Crown to authorize mineral exploration; and
- a declaration that it is a constitutional violation for the Crown to issue a mining permit.
Under such circumstances no one could explore for minerals or conduct timber harvesting in Ontario without first meeting the demands made by First Nations including the funding of costly traditional land use, archaeological and other studies. Such uncertainty would be a stake in the heart of the mining business and could ultimately interrupt mineral supply.
Solid Gold is vigorously defending its legal rights to conduct exploratory activities on the property without interruption. Solid Gold also remains committed to participating in consultative discussions and information sharing among the First Nation, the Ministry of Northern Development, Mines and Forestry and the company.
Solid Gold will continue to update shareholders through this process.
Business of Solid Gold Resources Corp.
Solid Gold is a junior mining exploration and development company, which controls a +/-200 square-kilometer prospect hosting potential for discovery of economic mineralization at Lake Abitibi near the Porcupine Fault zone in Northern Ontario.
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Although Solid Gold believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, Solid Gold disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
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.
Contact Information:
(905) 882-4780
Info@solidGOLDcorp.com