TORONTO, ONTARIO, Jul 06 (MARKET WIRE) --
Gabriel Resources Ltd. (TSX: GBU) would like to provide further
background information to the press release issued on July 2, 2009
regarding the decision rendered of the Bucharest Court of Appeal
regarding the Environmental Impact Assessment (EIA) for the Rosia Montana
Project.
In September 2007, the Ministry of Environment suspended the technical
analysis committee's (TAC) review of the EIA, citing the need for a valid
urbanism certificate (UC). Gabriel's Romanian subsidiary, Rosia Montana
Gold Corporation S.A. (RMGC) did have a valid UC in September 2007, and
provided a copy of such certificate to the Ministry of Environment;
however, the Ministry of Environment nevertheless decided to suspend the
TAC process.
Following the suspension of the TAC process in September of 2007, Gabriel
filed an administrative complaint with the Ministry of Environment in
October 2007. When the Ministry of Environment rejected the
administrative complaint and refused to restart the TAC process, RMGC
commenced legal action in the Bucharest Court of Appeal against the
Ministry of Environment, the then Minister of Environment and the then
Secretary of State (collectively the "Defendants") in November of 2007.
Gabriel's legal action asked the court to answer the simple question as
to whether an urbanism certificate is required to continue the TAC review
of the EIA.
On July 1, 2009, the Bucharest Court of Appeal ruled on a procedural
motion of the Defendants unrelated to the principal issue of Gabriel's
legal challenge, and as a result dismissed Gabriel's legal action without
considering the merits of or providing an answer to the simple question
posed by RMGC to the court.
Romanian Courts are required to provide reasons for their decisions
within 30 days of the date of the decision, however this time period is
often exceeded. Upon receipt of the reasons for judgment, Gabriel will
decide whether or not it intends to appeal the case to the Bucharest
Supreme Court of Justice.
According to our European Union and Romanian legal advisors, there is no
legal basis in European Union environmental law or Romanian environmental
law (which is the same as EU environmental law) for suspending an EIA
review process. The Bucharest Court of Appeal has ruled in a previous
case that there is no legal basis to suspend an EIA review process. In
addition, no legal provision is found in EU or Romanian environmental law
requiring the existence of an UC in order to undertake the assessment
phase of an EIA review (which is the TAC review process in Romania).
Gabriel / RMGC is ready to restart the TAC process as soon as the
Ministry of Environment gives the green light and is prepared to provide
any documentation requested by the officials. Gabriel has and will always
continue to comply with all Romanian legal provisions relating to the
development of the Project. The Company's primary objective is to receive
an open and transparent review of its Rosia Montana Gold project that
will bring significant benefits to all of its stakeholders.
The Company continues its Romanian stakeholder outreach efforts and has
now implemented a pro active public relations campaign, including
advertising, to educate the public and decision makers in Romania on the
benefits of the Project.
About Gabriel / Rosia Montana Gold Corporation
Gabriel is a Canadian-based resource company committed to responsible
mining and sustainable development in the communities in which it
operates. Gabriel is currently engaged in the exploration and development
of its 80%- owned Rosia Montana gold project. The Company is committed to
making Rosia Montana a model mine. To that end, the Company has pursued
many third party reviews touching on several aspects of the Project
including, economics, the environment and cultural. In some cases these
reviews have returned some constructive feedback but overall the
conclusions have been that the project is well developed and at a minimum
the project complies with the strict EU legislation governing mining.
To date, Gabriel Resources has already invested over $350 million through
Rosia Montana Gold Corporation in the development of the Rosia Montana
mining project.
Forward-Looking Statements: This press release contains forward-looking
statements that are based on the Company's current expectations and
estimates. Forward-looking statements are frequently characterized by
words such as "plan," "expect," "project," "intend," "believe,"
"anticipate", "estimate" and other similar words or statements that
certain events or conditions "may" or "will" occur, and include, without
limitation, statements regarding Company's plans with respect to the
exploration and development of its projects. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that could cause actual events or results to differ materially
from estimated or anticipated events or results implied or expressed in
such forward-looking statements. Any forward-looking statement speaks
only as of the date on which it is made and, except as may be required by
applicable securities laws, the Company disclaims any intent or
obligation to update any forward-looking statement, whether as a result
of new information, future events or results or otherwise.
Forward-looking statements are not guarantees of future performance and
accordingly undue reliance should not be put on such statements due to
the inherent uncertainty therein.
The Toronto Stock Exchange has not
reviewed and does not accept responsibility for the adequacy or accuracy
of this release and the information contained herein.
Contacts:
Gabriel Resources Ltd.
416-955-9200
416-955-4661 (FAX)
info@gabrielresources.com
www.gabrielresources.com
Copyright 2009, Market Wire, All rights reserved.
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