Gabriel Resources Ltd.: Local Referendum in Alba County, Romania
Published : November 16, 2012
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Keywords :   Canada | Europe | Gold | Market | Precious Metals | Romania | Silver |

TORONTO, CANADA--(Marketwire - Nov. 16, 2012) - Gabriel Resources Ltd. ("Gabriel" or the "Company") (News - Market indicators) understands that the Alba County Council has approved the organisation of a regional referendum on December 9, 2012 in respect of the resumption of mining in the Apuseni Mountains and, specifically, mining at the Rosia Montana Project ("Project"). Formal confirmation of this approval is expected in the coming days.

The Company and Rosia Montana Gold Corporation ("RMGC"), Gabriel's 80.69%-owned Romanian subsidiary which holds the exploitation licence for the Project, welcome this opportunity to obtain a fully independent and representational opinion from the communities that lie close to, will benefit most from, and be most affected by, the Project. The Apuseni Mountains is an area that is facing extreme poverty whilst continuing to suffer a growing legacy of environmental damage and decay of cultural heritage caused by historic mining practices. Although the outcome of the proposed referendum is not legally binding, it provides an important platform to illustrate the positive impact of the Project on environmental rehabilitation, job creation and heritage salvation for an area that has many years of mining tradition and no viable alternative to the significant economic benefits the Project can deliver.

Jonathan Henry, President and CEO of Gabriel Resources, stated:

"This referendum should give the people within the communities in the Apuseni Mountain region, who will benefit from and be most affected by this significant Project, an opportunity to express their wishes for their future prosperity. We believe that this referendum will clearly demonstrate that people in the Apuseni region strongly support the creation of thousands of jobs, long-term sustainable development and environmental remediation that can be delivered by modern, safe, responsible mining in Rosia Montana."

About Gabriel

Gabriel is a Canadian TSX-listed resource company focused on permitting and developing its world-class Rosia Montana gold and silver project. The Project, the largest undeveloped gold deposit in Europe, is owned through RMGC, a Romanian company in which Gabriel holds an 80.69% stake with the 19.31% balance held by CNCAF Minvest S.A., a Romanian state-owned mining enterprise. Gabriel and RMGC are committed to responsible mining and sustainable development in the communities in which they operate. The Project is anticipated to bring US$19 billion to Romania as potential direct and indirect contribution to GDP according to 2010 estimates from UK-based Oxford Policy Management (using a gold price of US$900/oz). This contribution increases to over US$30 billion at today's gold price. The Project will generate thousands of employment opportunities. Gabriel intends to build a state-of-the-art mine using best available techniques and implementing the highest environmental standards whilst preserving local and national cultural heritage in Romania. For more information please visit the Company's website at

Forward-looking statements

This press release contains forward-looking information as defined in applicable securities laws relating to the Company and/or the Project (referred to herein as "forward-looking statements") that are based on management's current expectations, estimates and projections. Specifically, this press release contains forward-looking statements regarding the returns to Romania from the Project and future permitting processes. All statements other than statements of historical facts included herein, including without limitation, those incorporated by reference, those which may refer to the Company's financial position, business strategy, plans, objectives of management for future operations (including development plans and objectives relating to the Company's business) the economic impact, job creation, costs estimates, patrimony plans, future ability of the Company to finance the Project, Project delivery and estimates regarding the timing of completion of various aspects of the Projects' development or of future performance are forward-looking statements.

The words "believe", "expect", "anticipate", "contemplate", "target", "plan", "intends", "continue", "budget", "estimate", "projects", "may", "will", "schedule", "potential", "proposed" and similar expressions identify forward-looking statements. 

Forward-looking statements are necessarily based upon a number of estimates and assumptions that are inherently subject to significant business, economic and competitive uncertainties and contingencies. 

Forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which are difficult, or may be beyond Gabriel's ability, to predict or control and that may cause the actual outcomes, level of activity, financial results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, These risks, uncertainties and other factors include, without limitation, changes in the worldwide price of precious metals; fluctuations in exchange rates; legislative, political or economic developments including changes to mining and other relevant legislation in Romania; geopolitical uncertainty, uncertain legal enforcement; changes in, and the effects of, the government policies affecting the Company's operations; uncertainties related to timelines for awaited approvals; changes in general economic conditions, and the financial markets; operating or technical difficulties in connection with exploration, development or mining; environmental risks; the risks of diminishing quantities or grades of reserves; and the Company's requirements for substantial additional funding.

Accordingly, readers should not place undue reliance on forward-looking statements. Gabriel undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law.

Gabriel Resources Ltd.
Jonathan Henry
President and Chief Executive Officer
Mobile: +44 7798 801783
Gabriel Resources Ltd.
Katie Fedorowicz
Investor Relations
Mobile: +44 7810 437059
Bobby Morse
+44 207 466 5000 or Mobile: +44 7802 875227
Data and Statistics for these countries : Canada | Romania | All
Gold and Silver Prices for these countries : Canada | Romania | All

Gabriel Resources Ltd.

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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Annual reports of Gabriel Resources Ltd.
2007 Annual Report
Financings of Gabriel Resources Ltd.
3/7/2007Equity Offering March 6 2007
Nominations of Gabriel Resources Ltd.
5/25/2010Announces Appointment of New Chief Executive Officer
2/20/2008Resignation of David Christensen as Vice President Corporate...
Financials of Gabriel Resources Ltd.
3/12/2015Annual Results and Fourth Quarter Report
8/2/2013Second Quarter Report
7/26/2013Release of Second Quarter Report
7/26/2013Release of Second Quarter Report
5/16/2013First Quarter Report
5/10/2013Release of First Quarter Report
5/10/2013Release of First Quarter Report
3/15/2013Annual Results and Fourth Quarter Report
3/8/2013Release of Annual Results and Fourth Quarter Report
11/1/2012Release of Third Quarter Report
8/3/2012Second Quarter Report
7/27/2012Release of Second Quarter Report
5/11/2012First Quarter Report
8/3/2011Gabriel Resources announces Q2 Results
5/5/2011Gabriel Resources Ltd: First Quarter Report
3/13/2011Fourth Quarter and Year-End Report
8/5/2010Second Quarter 2010 Report
7/28/2010to Release Second Quarter 2010 Results
5/7/2010to Release First Quarter 2010 Results
3/11/2010Fourth Quarter 2009 Report
3/8/2010to Release Fourth Quarter 2009 Results
11/4/2009Ltd: Third Quarter 2009 Report
10/27/2009to Release Third Quarter 2009 Results
8/5/2009Second Quarter 2009 Report
5/7/2009Ltd: First Quarter 2009 Report
3/5/2009Fourth Quarter 2008 Report
11/4/2008Ltd: 2008 Third Quarter Report
8/7/20082008 Second Quarter Report
5/7/2008First Quarter Report
3/6/2008Fourth Quarter Report
5/8/2007First Quarter Report
Project news of Gabriel Resources Ltd.
6/3/2014Romania's gold mine project on hold after parliament rejects...
3/13/2014Gabriel Resources may cut jobs in Romania due to mine permit...
3/13/2014Gabriel Resources warns of Romania job cuts over mine permit...
5/17/2012(Rosia Montana)2002 Urbanism Plans for the Rosia Montana Project Validated
7/14/2011(Rosia Montana): Grant of Archaeological Discharge Certificate
9/17/2010(Rosia Montana)Environmental Impact Assessment for the Rosia Montana Projec...
9/14/2009(Rosia Montana)Reports Significant Progress in Public Recognition of its Ro...
2/4/2009(Rosia Montana)Rosia Montana Gold Corporation Should Receive the Dam Safety
12/10/2008Ltd=2E: Court Decision Not Expected to Impact Permitting Sch...
12/4/2007(Rosia Montana) Announces Plans to Scale Back Activities at Rosia Montana
11/27/2007(Rosia Montana)Brasov Regional Court of Appeal Annuls Archeological Dischar...
Corporate news of Gabriel Resources Ltd.
7/29/20162016 Second Quarter Report
7/14/2016Abusive Actions of Romanian Fiscal Authorities
7/14/2016Closing of Private Placement
7/5/2016Proposed Private Placement
6/29/2016Report On Voting Results
5/12/20162016 First Quarter Report
5/11/2016Closing of Private Placement
5/3/2016Additional Details Regarding the Proposed Private Placement
3/29/2016Gabriel Resources Ltd.: 2015 Annual Results, Fourth Quarter ...
1/19/2016Gabriel Seeks Amicable Resolution of Mining Dispute
11/11/2015Third Quarter Report
11/10/2015Gabriel Resources Ltd.: Third Quarter Report
8/4/2015Second Quarter Report
8/3/2015Gabriel Resources Ltd.: Second Quarter Report
7/21/2015Gabriel Files for International Arbitration against Romania
6/18/2015Report on Voting Results
6/18/2015Gabriel Resources Ltd.: Report on Voting Results
5/14/2015First Quarter Report
5/14/2015Gabriel Resources Ltd.: First Quarter Report
1/20/2015Gabriel seeks amicable resolution of mining dispute
1/20/2015Gabriel Seeks Amicable Resolution of Mining Dispute
11/12/2014Third Quarter Report
11/11/2014Gabriel Resources Ltd.: Third Quarter Report
8/1/2014Gabriel Resources Ltd.: Second Quarter Report
6/19/2014Gabriel Resources Ltd.: Report on Voting Results
6/19/2014Gabriel Resources Ltd.: Report on Voting Results
6/3/2014Gabriel Resources Ltd.: Closing of Private Placement
5/26/2014Gabriel Resources Ltd.: Private Placement to Raise C$40 Mill...
5/26/2014Gabriel Resources Ltd.: Private Placement to Raise C$40 Mill...
5/14/2014Gabriel Resources Ltd.: First Quarter Report
5/14/2014Gabriel Resources Ltd.: First Quarter Report
4/15/2014Gabriel Resources Ltd.: Suspension of Archaeological Dischar...
4/15/2014Gabriel Resources Ltd.: Suspension of Archaeological Dischar...
10/23/2013(Rosia Montana)Rosia Montana-Special Committee of Parliament-Report Timing ...
9/18/2013(Rosia Montana)Rosia Montana - Special Committee of Parliament Established
9/9/2013(Rosia Montana)Rosia Montana - Reported Media Statements from Romanian Gove...
8/28/2013(Rosia Montana)Rosia Montana-Romanian Government Decision
6/21/2013Report on Voting Results
12/10/2012Positive Result of the Local Referendum in Alba County, Roma...
11/16/2012Local Referendum in Alba County, Romania
11/8/2012Third Quarter Report and NI 43-101 Technical Report
6/22/2012Results of Annual and Special Meeting
12/29/2011(Rosia Montana)Gabriel Resources Ltd Corporate Update
6/23/2011Gabriel Resources Ltd Annual Special Meeting Voting Results ...
6/18/2010Announces Changes to Its Board of Directors
7/2/2009Gabriel/RMGC's Statement Regarding the Decision of the Bucha...
6/11/2009Announces Completion of Private Placem
5/27/2009Pricing of Public Offering
3/23/2009Alan R. Hill Retires-Keith Hulley Appointed Interim CEO
3/5/2009 Amendment to Shareholder Rights Plan Approved by Shareholde...
1/26/2009 to Amend Shareholder Rights Plan to Provide Greater Flexibi...
12/9/2008Supreme Court Annuls Archaeological Discharge
9/9/2008 Executives Address Denver Gold Show Conference
10/23/2007Meets with International Labour Organization on "Decent Work...
9/24/2007CFO to Address Denver Gold Show Conference
9/13/2007Disregard for Romanian Rule of Law as Ministry of Environmen...
9/5/2007Exposes the Secrets of Rosia Montana Opposition
7/11/2007EIA Approval Update
5/4/2007delivers Rosia Montana EIA Annex to the Romanian government
5/4/2007Delivers Rosia Montana EIA Annex to the Romanian Government
3/22/2007Completion of $135.9 Million Public Offering
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