VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 6, 2014) - True Gold Mining Inc. (TSX VENTURE:TGM) ("True Gold" or the "Company") is pleased to report that the Burkina Faso Ministry of Environment and Sustainable Development (the "Ministry") has approved an Environmental Permit for development of the Kao deposit at the Company's Karma Gold Project ("Karma Project").
The Environmental Permit includes Ministry approval for the Kao Environmental and Social Impact Assessment and Relocation Action Plan, and advances True Gold's application for an Exploitation (mining) Permit for Kao.
The Kao Exploitation Permit will be supplemental to the Karma Exploitation Permit, which was approved by the Burkina Faso Council of Ministers in December 2013. The Karma Exploitation Permit, which allows True Gold to develop the Goulagou I, Goulagou II and Rambo deposits and construct associated facilities, awaits final signature by the President of Burkina Faso.
"Receipt of the Environmental Permit for Kao, following the successful release of the Feasibility Study results in December, keeps Karma firmly on track to becoming Burkina Faso's next gold mine," said Dwayne Melrose, President and CEO, True Gold.
Peter C. Carter, P. Eng., Chief Operating Officer and Vice President Engineering of the Company, is the Company's designated Qualified Person within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") for this news release, and has reviewed and verified that the technical information contained in this release is accurate and approves of the written disclosure of same.
About True Gold
True Gold Mining Inc. is where gold comes to life. We are committed to growing a successful gold exploration, development and production company, by focusing on projects with low costs, low technical risks and solid economics. The Company's board, management and technical teams have proven track records in gold exploration, development, operations and production worldwide.
Additional information about the Company and its activities may be found on the Company's website at www.truegoldmining.com and under the Company's profile at www.sedar.com.
ON BEHALF OF THE BOARD
Dwayne Melrose, President & CEO
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.
Certain statements made and information contained in this news release and elsewhere constitutes "forward-looking information" within the meaning of Canadian securities legislation. Such forward-looking statements are based on certain assumptions and are subject to risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, with respect to statements regarding the potential to growing a successful gold exploration, development and production company, ability to find projects with low costs, low technical risks and solid economics, expectations for receipt of all required permits and approvals to develop the Karma Project, the possibility that development results on the Karma Project will not be consistent with the Company's expectations, the expectation that when issued the Kao Exploitation Permit will be treated as supplemental to the Karma Exploitation Permit, expectations that the Karma Project is on track to becoming the site of Burkina Faso's next gold mine, accidents, the assumptions set forth in this news release and risks and uncertainties relating to equipment breakdowns, risk of undiscovered, title defects and surface access, labour disputes, the potential for delays in exploration and permitting activities, the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, political risk and other risks and uncertainties, including those described under Risk Factors in each management discussion and analysis and in the Company's annual information form which are available under the Company's profile at www.sedar.com. Forward-looking information is based on various assumptions including, without limitation, the expectations and beliefs of management, the assumed long term price of gold, that the Company will receive required permits and access to surface rights, that the Company can access required financing to be in a position to consider a production decision, appropriate equipment and sufficient labour and that the political environment within Burkina Faso will continue to support the development of environmentally safe mining projects. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.