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Re: News - Thursday, April 24, 2008
MINAE Reconfirms Vannessa's Exploitation Concession
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Industrias Infinito S.A. ("Infinito"), a wholly owned subsidiary of
Vannessa Ventures Ltd. (the "Company"), has received an official news
release from MINAE dated April 23, 2008 that states the Government of
the Republic of Costa Rica authorizes the exploitation of the Crucitas
concession as environmental, social and economic feasibility has been
demonstrated. This follows the Company's announcement of April 16, 2008
where it was reported that the minister in charge of MINAE had
indicated to the local media that the Crucitas project would be
approved soon. This authorization, together with the approval of the
EIS, represents the final major approvals required by the Company in
order to advance the development of the Crucitas gold project.
In a newspaper article in La Nacion, published on April 24, 2008, it
was announced that MINAE had lifted the moratorium on open pit gold
mining in the country which has been in place since 2002. The
moratorium did not apply to the Crucitas exploitation concession but
the removal is a positive action that will increase the potential of
the more than 18,000 hectares of exploration concessions held by
Infinito adjacent to the Crucitas project area.
Caution Regarding Forward-Looking Information and Statements
Certain statements in this press release address future events and
conditions and, as such, involve known and unknown risks, uncertainties
and other factors which may cause the actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the statements.
These factors include, among others, the inherent risks involved in the
exploration and development of mineral properties, the uncertainties
involved in interpreting drilling results and other geological data,
fluctuating metal prices, the possibility of project cost overruns or
unanticipated costs and expenses, uncertainties relating to the
availability and costs of financing needed in the future, the
possibility that all necessary governmental and regulatory approvals
will not be received, and the availability of a qualified workforce and
third party contractors necessary for the development and operation of
a mine. The Company undertakes no obligation to update these
forward-looking information or statements if circumstances or
management's estimates or opinions should change. The reader is
cautioned not to place undue reliance on forward-looking information or
statements.
John Morgan, President
VANNESSA VENTURES LTD.
"The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release."
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Copyright (c) 2008 VANNESSA VENTURES LTD. (VVV) All rights reserved.
For more information visit our website at http://www.vannessa.com/ or
send mailto:vvvinfo@vannessa.com
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