SOURCE: Astur Gold Corp.

Astur Gold Corp.

September 28, 2016 09:30 ET

Regional Support for Mining Including the Salave Project

VANCOUVER, BC--(Marketwired - September 28, 2016) - Astur Gold Corp. (TSX VENTURE: AST) (FRANKFURT: CDC) ("Astur" or the "Company") is pleased to provide the following update to the market.

On September 26, 2016, a conference was held, and a statement signed in Oviedo, the capital of Asturias, Spain, by trade associations, trade unions, professional associations and government institutions including the Asturias trade association, the National Association of Employers of Mining and Metallurgy, the mining director of the Autonomous Region of Asturias, the chancellor of the University of Oviedo and the Asturias Organization of Entrepreneurs. The statement described the mining industry in Asturias as a "great opportunity", with more than 3,000 direct and indirect jobs and $450 million in investment in recent years.

Before signing the statement, the President of the National Association of Employers of Mining and Metallurgy stated that Astur Gold's proposed project (Salave) is "a good project that takes into account everything that has to do with the care of the environment and it is a project that shall move forward".

The president of the Asturias Trade Association stated that mining is an industry necessary for Asturias as it creates wealth and jobs. He described the statement as a way to "encourage" all projects that come to Asturias and do not compromise the future of coming generations. "It's a way to support all serious projects as in our view was the Salave project".

It was stated that Asturias has become an "international leader" in innovation and good practices and that the wealth of the mines, together with the "mining tradition" and both high academic and professional qualified workers can significantly increase the number of investments and jobs for the region.

The statement supports the Company's focus on engaging with all the stakeholders in Asturias to progress the Salave project for the benefit of the community, region and country. With all the mining concessions for the Salave project in place and new management focused on re-engaging with the relevant stakeholders, the Company is poised to unlock the significant value of the Salave project.

For further information, please see the below translations:

1. METAL MINING CLAIMED AS A STRATEGIC ACTIVITY

Entrepreneurs, the public administration and trade unions sign a joint statement

Trade associations, trade unions, professional associations and other institutions have signed today in Oviedo, Spain a statement in favour of the metal mining in Asturias. They see it as a "great opportunity" to establish the metal mining as a strategic activity, with more than 3,000 direct and indirect jobs and $450 million in investment in recent years, although it is still emerging.

The president of the Asturias Organisation of Entrepreneurs (FADE), Pedro Luis Fernandez, read the statement in favour of the metal mining, which in Asturias consists of gold, silver, copper and fluorite and in the Spanish and European industries is becoming increasingly important.

The statement specifies that despite the deep historical tradition of mining in Asturias, the metal mining remains unknown and sometimes, is "rejected" by some social actors that refer to the effects that mining activities may have on the environment in which they develop.

The statement considers it essential to inform the Asturias society that things have been "doing well" and thanks to this metal mining, Asturias has become an "international leader" in innovation and good practices.

The head of the Asturias Trade Association has detailed the ten key points for the strategic defence of the mining activity. These are based on the need to care for and maintain the heritage of Asturias as an example for the mining industry. He has also highlighted the sector's ability to "reinvent themselves and persevere" in order to continue generating economic and social progress.

In relation to the metal mining, he stressed out that the wealth of the mines, together with the "mining tradition" and both high academic and professional qualified workers can significantly increase the number of investments and jobs for the region.

He has appealed for dialogue by the agents in the sector, institutions, companies, organizations and other groups linked to mining, as the reliability and legal certainty are the "starting point" for the establishment and continuity of mining projects in the Autonomous Region of Asturias. To this end, he has warned that "excess of judicial solutions" in this activity can threaten and question the image and viability of the sector as a whole.

The entities signing the statement share the firm commitment for the present and the future of metal mining in Asturias, characterized by sustainability, respect for the environment and innovation.

Prior to the signing of this statement, a conference was held in which the President of the National Association of Employers of Mining and Metallurgy (Confedem), Juan José Cerezuela, the mining director of the Autonomous Region of Asturias, Isaac Pola, and the chancellor of the University of Oviedo have participated.

http://www.rtpa.es/asturias:-Reivindican-la-mineria-metalica-como-una-actividad-estrategica_111474890726.html

2. SALAVE MINE IS A GOOD PROJECT AND SHALL MOVE FORWARD

The president of Confedem claims that the proposal of Astur Gold "takes into account everything that has to do with the care of the environment" during the signing of a statement to defend the metal mining, which is claimed as a strategic activity.

Business associations and trade unions, professional associations and other institutions have signed on Monday in Oviedo a statement to defend the metal mining, a sector with a "great potential in the Autonomous Region of Asturias". This was highlighted by the president of the National Association of Employers of Mining and Metallurgy (Confedem), Juan Jose Cerezuela, who also claimed the revival of the project for Salave gold mine, Tapia de Casariego. The Autonomous Region of Asturias gave up the project of the Canadian Astur Gold Company after receiving two unfavourable reports issued by the river basin authority (Confederación Hidrográfica del Cantábrico).

Cerezuela said that the project was showed and explained to him and considers it "a good project that takes into account everything that has to do with the care of the environment and it is a project that shall move forward".

In this sense, he regretted the voices that try to dismantle the projects in the basic extractive industries and stressed out that those countries that have chosen them, have managed to overcome the crisis with greater ease. "This statement seeks to advertise to society the development possibilities of metal mining in Asturias. The extractive industries create wealth and quality jobs", said Cerezuela.

In this sense, the president of the Asturias Trade Association (FADE), Pedro Luis Fernandez, stated that this is an industry necessary for Asturias as it creates wealth and jobs. Thus, he considers that this statement is a way to "encourage" all projects that come to Asturias and do not compromise the future of coming generations. "It's a way to support all serious projects as in our view was Salave project," said the president of the Asturias Trade Association.

Asturias, "an example" in the sector

The statement, signed by business organizations, trade unions, professional associations and other institutions, claims for an industry that is considered a "great opportunity", with more than 3,000 direct and indirect jobs and 450 million in investment in recent years, despite it is still emerging. Fernandez has been in charge of reading the statement for the metal mining, which in Asturias consists of gold, silver, copper and fluorite, and in the Spanish and European industries is becoming increasingly important.

The statement specifies that despite the deep historical tradition of mining in Asturias, the metal mining remains unknown and sometimes, is "rejected" by some social actors that refer to the effects that the mining activities may have on the environment in which they develop.

The statement considers it essential to inform the Asturias society that things have been "doing well" and thanks to this metal mining, Asturias has become an "international leader" in innovation and good practices.

The head of the Asturias Trade Association has detailed the ten key points for the strategic defence of the mining activity. These are based on the need to care for and maintain the heritage of Asturias as an example for the mining industry. He has also highlighted the sector's ability to "reinvent themselves and persevere" in order to continue generating economic and social progress.

In relation to the metal mining, he stressed out that the wealth of the mines, together with the "mining tradition" and both high academic and professional qualified workers can increase significantly the number of investments and jobs for the region.

He has appealed for dialogue by the agents in the sector, institutions, companies, organizations and other groups linked to mining, as the reliability and legal certainty are the "starting point" for the establishment and continuity of mining projects in the Autonomous Region of Asturias. To this end, he has warned that "excess of judicial solutions" in this activity can threaten and question the image and viability of the sector as a whole.

The entities signing the statement share the firm commitment for the present and the future of metal mining in Asturias, characterized by sustainability, respect for the environment and innovation.

http://www.elcomercio.es/economia/201609/26/empresarios-mineria-apuestan-reactivar-20160926113311.html

Signed "Brian Wesson"
President and Chief Executive Officer

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. 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.

About Astur

Astur Gold (TSX VENTURE: AST) owns 100% of the Salave gold project in the Asturias region of Spain. Salave is a technically robust project being one of the largest undeveloped gold projects in Europe and situated in a highly prospective region.

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Clyde Wesson
    Vice President
    #300-1055 West Hastings Street,
    Vancouver, B.C., V6E 2E9
    Tel: 604-694-1600
    info@asturgold.com
    www.asturgold.com