Rio Narcea Gold Mines, Ltd.
TSX : RNG
AMEX : RNO

Rio Narcea Gold Mines, Ltd.

August 04, 2005 07:51 ET

Rio Narcea Comments on Press Report Concerning Salave Project

TORONTO, ONTARIO--(CCNMatthews - Aug. 4, 2005) - Rio Narcea Gold Mines, Ltd. ("Rio Narcea" or the "Company") (TSX:RNG)(AMEX:RNO) would like to comment on a recent report in the Spanish press. According to this report, a spokesperson for the Asturian government was quoted as saying that the government has declined the Company's Change in Land Use application. The Change in Land Use application is a critical step in obtaining all other necessary permits for project construction.

The Company has received no notification of any decision by the Asturian government. When the Company receives formal notification of the Government's position, Rio Narcea will evaluate all of its options and consider its legal position under applicable Spanish law, including the legal right to compensation established, among other applicable laws, in the Spanish Constitution.

Forward-looking Statements: Some statements in this press release contain forward-looking information. These statements address future events and conditions and, as such, involve inherent risks and uncertainties. Actual results could be significantly different from those projected.

Contact Information

  • Rio Narcea Gold Mines, Ltd.
    John W. W. Hick
    Chief Executive Officer
    (416) 956 7470
    (416) 956 7471 (FAX)
    or
    Rio Narcea Gold Mines, Ltd.
    Steve Dawson
    Manager, Investor Relations
    (416) 956 7470
    (416) 956 7471 (FAX)
    info@rngm.com
    www.rionarcea.com