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Gabriel Resources Ltd.

Published : September 17th, 2010

Environmental Impact Assessment for the Rosia Montana Project

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Keywords :   Europe | Germany | Gold | Hungary | Romania | Sweden | Technical Analysis |

 
 
Gabriel Resources Ltd.
TSX: GBU
Other Recent News

September 17, 2010
Gabriel Resources Ltd.: Environmental Impact Assessment for the Rosia Montana Project to Re-Commence Immediately
TORONTO, ONTARIO--(Marketwire - Sept. 17, 2010) - Gabriel Resources Ltd. (TSX:GBU) ("Gabriel" or the "Company") announces that the members of the Romanian Technical Analysis Committee ("TAC") today confirmed the continuation of the environmental permitting process for its 80.46%-owned Rosia Montana Project ("the Project") in Romania. The review is a necessary stage in the overall evaluation of the Environmental Impact Assessment ("EIA") of the Project, a process that will be overseen by the Ministry of Environment and Forestry ("the Ministry").

The TAC will consist of experts appointed by various ministries under the coordination of the Ministry. The Project was previously reviewed by several working groups of experts, including the Independent Group of International Experts ("IGIE"), consisting of environmental experts from various European countries including Germany, Hungary, Sweden and Romania. IGIE's observations and recommendations were incorporated into an annex to the EIA submitted to the Romanian government in May 2007.

Jonathan Henry, President and Chief Executive Officer of the Company, commented:

"We are very encouraged by the continuation of the TAC review process. Our team anticipates a thorough and objective assessment of the Project which will be developed in a technologically sound, safe and environmentally responsible fashion. We are gratified by the fact that the continuation of the TAC review follows a period of extensive consultations by the Company with a wide range of Project stakeholders, including local communities, public authorities, non-government organizations and environmental experts.

The continuation of the EIA review is an important step in the development of the Rosia Montana Project. The Project will deliver much needed economic, employment and environmental remediation benefits to the region of Rosia Montana and Romania.

A presentation to be given at the Denver Gold Forum on September 21, 2010 will be available on the Company's website from that date.

About Gabriel Resources/Rosia Montana Gold Corporation

Gabriel Resources Ltd. is a resource company committed to responsible mining and sustainable development. Gabriel is currently engaged in the development of its 80.46%-owned Rosia Montana gold project in Romania. Rosia Montana is Europe's largest and one of the world's most significant undeveloped gold deposits. For more information, please visit the Company's website at www.gabrielresources.com.

CONTACT INFORMATION:

Gabriel Resources Ltd.
Jonathan Henry
President and Chief Executive Officer
+ 44 7798 801783

or

Gabriel Resources Ltd.
Tom Sipos
Investor Relations
(416) 682-6084
info@gabrielresources.com
www.gabrielresources.com

INDUSTRY: Manufacturing and Production - Mining and Metals


 
 
Gabriel Resources Ltd.
TSX: GBU
Other Recent News

September 17, 2010
Gabriel Resources Ltd.: Environmental Impact Assessment for the Rosia Montana Project to Re-Commence Immediately
TORONTO, ONTARIO--(Marketwire - Sept. 17, 2010) - Gabriel Resources Ltd. (TSX:GBU) ("Gabriel" or the "Company") announces that the members of the Romanian Technical Analysis Committee ("TAC") today confirmed the continuation of the environmental permitting process for its 80.46%-owned Rosia Montana Project ("the Project") in Romania. The review is a necessary stage in the overall evaluation of the Environmental Impact Assessment ("EIA") of the Project, a process that will be overseen by the Ministry of Environment and Forestry ("the Ministry").

The TAC will consist of experts appointed by various ministries under the coordination of the Ministry. The Project was previously reviewed by several working groups of experts, including the Independent Group of International Experts ("IGIE"), consisting of environmental experts from various European countries including Germany, Hungary, Sweden and Romania. IGIE's observations and recommendations were incorporated into an annex to the EIA submitted to the Romanian government in May 2007.

Jonathan Henry, President and Chief Executive Officer of the Company, commented:

"We are very encouraged by the continuation of the TAC review process. Our team anticipates a thorough and objective assessment of the Project which will be developed in a technologically sound, safe and environmentally responsible fashion. We are gratified by the fact that the continuation of the TAC review follows a period of extensive consultations by the Company with a wide range of Project stakeholders, including local communities, public authorities, non-government organizations and environmental experts.

The continuation of the EIA review is an important step in the development of the Rosia Montana Project. The Project will deliver much needed economic, employment and environmental remediation benefits to the region of Rosia Montana and Romania.

A presentation to be given at the Denver Gold Forum on September 21, 2010 will be available on the Company's website from that date.

About Gabriel Resources/Rosia Montana Gold Corporation

Gabriel Resources Ltd. is a resource company committed to responsible mining and sustainable development. Gabriel is currently engaged in the development of its 80.46%-owned Rosia Montana gold project in Romania. Rosia Montana is Europe's largest and one of the world's most significant undeveloped gold deposits. For more information, please visit the Company's website at www.gabrielresources.com.

CONTACT INFORMATION:

Gabriel Resources Ltd.
Jonathan Henry
President and Chief Executive Officer
+ 44 7798 801783

or

Gabriel Resources Ltd.
Tom Sipos
Investor Relations
(416) 682-6084
info@gabrielresources.com
www.gabrielresources.com

INDUSTRY: Manufacturing and Production - Mining and Metals


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Data and Statistics for these countries : Germany | Hungary | Romania | Sweden | All
Gold and Silver Prices for these countries : Germany | Hungary | Romania | Sweden | All

Gabriel Resources Ltd.
DEVELOPMENT STAGE
CODE : GBU.TO
ISIN : CA3619701061
CUSIP : C12459120
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Gabriel Resources is a gold development stage company based in Canada.

Gabriel Resources develops gold and silver in Romania, and holds various exploration projects in Romania.

Its main asset in development is ROSIA MONTANA in Romania and its main exploration properties are BUCIUM - RODU-FRASIN and BUCIUM in Romania.

Gabriel Resources is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 153.8 millions as of today (US$ 125.0 millions, € 100.6 millions).

Its stock quote reached its highest recent level on July 15, 2011 at CA$ 8.65, and its lowest recent point on January 01, 2016 at CA$ 0.12.

Gabriel Resources has 384 440 000 shares outstanding.
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