TORONTO, ON--(Marketwired - August 30, 2016) - TMAC Resources Inc. (TSX: TMR) ("TMAC" or the "Company") announces that the Honourable Dr. Caroline Bennett, Minister for Indigenous and Northern Affairs Canada, has accepted the recommendation of the Nunavut Impact Review Board ("NIRB") that TMAC's proposed amendments to the Doris North Project be allowed to proceed. This clears the way for the NIRB to finalize the amended project certificate. It also allows the Nunavut Water Board to proceed with consideration of an amended water license. The public hearing on the new water license for the Doris North Project is scheduled for mid-September.
TMAC is currently permitted to operate the Doris North Project, located on the north end of TMAC's Hope Bay Project in Nunavut, and to deposit 458,000 tonnes of tailings (approximately 1½ years of currently planned production) into the already permitted tailings impoundment area ("TIA"). The requested amendment increases the number of tonnes that may be deposited in the TIA to 2,500,000 tonnes, sufficient for the current life of mine production plan at Doris.
ABOUT TMAC RESOURCES
TMAC holds a 100% interest in the Hope Bay Project located in Nunavut, Canada. TMAC is a fully financed, gold development company on target to achieve its Path to Production plan, beginning with the Doris Deposit, by the end of 2016. The Company has a board of directors with depth of experience and market credibility and an exploration and development team with an extensive track record of developing high grade, profitable underground mines.
This release contains "forward-looking information" within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. "Forward-looking information" includes statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology. Such forward-looking information includes, without limitation, bringing the Hope Bay Project into production,
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made, Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking information. See "Risk Factors" in the Company's AIF dated February 25, 2016 filed on SEDAR at www.sedar.com for a discussion of these risks.
The Company cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information.
SOURCE TMAC Resources Inc.