Dundee Precious Metals Inc. (TSX:DPM - News; TSX:DPM.WT - News; TSX:DPM.WT.A - News;
"DPM" or "the Company") is pleased to announce that the
permitting process for its Krumovgrad gold project
in Bulgaria has taken another step forward. Following the submission of the
Company's new Environmental Impact Assessment Report ("EIA") and Natura 2000 Compatibility Assessment Report
("CAR") for the Krumovgrad gold project
proposal to the Bulgarian Ministry of Environment and Waters ("MoEW"), the MoEW has
delivered a "positive grade" to both the EIA and associated CAR,
meaning all information required under the EIA Regulation is complete.
Based on this positive assessment of the
quality of the submissions, and in compliance with the requirements under the
Bulgarian environmental legislation, DPM will commence the public
dissemination of the EIA documentation which will culminate with organized
public hearings with the Krumovgrad Municipality
and other potentially affected municipalities or villages. It is anticipated
that the public hearings will be completed during the first quarter of 2011.
The new project scope for the Krumovgrad gold deposit involves a significantly reduced
operating footprint with one major landowner, one single integrated tailings
and mine waste facility, a simplified processing route that does not require
the use of cyanide and a longer operating life than previously considered. The
changes that have led to this new scope are based on community feedback on
the earlier project proposal. For this project the EIA permit and
compatibility with the European Union legislative requirement to protect
habitats and species are the only major environmental approvals required.
Dundee Precious Metals Inc. is a
Canadian based, international mining company engaged in the acquisition,
exploration, development, mining and processing of precious metals
properties. The Company's operating interests include its 100% ownership of Chelopech Mining EAD, its principal asset being the Chelopech mine, a gold, copper, silver concentrates
producer located east of Sofia, Bulgaria, a 100% ownership of Namibia Custom
Smelters (Pty) Ltd., a concentrate processing facility located in Tsumeb, Namibia, and a 100% interest in Deno Gold Mining Company CJSC, its principal asset being
the Kapan mine, a gold, copper, zinc, silver
concentrates producer located in southern Armenia. DPM's interests also
include a 100% interest in the Krumovgrad
development stage gold property located in south eastern Bulgaria, near the
town of Krumovgrad and certain exploration and
exploitation properties in Serbia.
This news release may contain certain
information that constitutes forward-looking statements. Forward-looking
statements are frequently characterized by words such as "plan,"
"expect," "project," "intend,"
"believe," "anticipate" and other similar words, or
statements that certain events or conditions "may" or
"will" occur. Forward-looking statements are based on the opinions
and estimates of management at the date the statements are made, and are
subject to a variety of risks and uncertainties and other factors that could
cause actual events or results to differ materially from those projected in
the forward-looking statements. These factors include 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 and other factors described above and in the
Company's most recent annual information form under
the heading "Risk Factors" which has been filed electronically by
means of the Canadian Securities Administrators' website located at www.sedar.com.
The Company disclaims any obligation to update or revise any forward-looking
statements if circumstances or management's estimates or opinions should
change. The reader is cautioned not to place undue reliance on
DUNDEE PRECIOUS METALS INC.
President & Chief Executive Officer