American CuMo Mining Corporation (“CuMoCo” or the “Company”) (TSXV: MLY; OTC Pink: MLYCF) is pleased to announce that the U.S. Forest Service (USFS) has released its 2018 Supplemental Redline Environmental Assessment (SREA) regarding the CuMo Project exploration.
The redlined document provides information from the 2011 environmental assessment (EA) and 2015 Supplemental EA (SEA) that is still relevant and did not change in original black text. All new information, updates, and/or clarifications are noted in red text. As was the case with 2011 EA and 2015 SEA, the 2018 SREA evaluates three alternatives in detail: Alternative A – Proposed Action, Alternative B – Reduced Roads, and Alternative C – No Action.
USFS is overseeing a 30-day public comment period to garner public input regarding the newly prepared and released SREA. The comment period commenced on December 22, 2018 and will conclude on January 22, 2019.
“We are pleased with the extraordinarily high-level of effort put forth by USFS into its rigorous environmental review,” said Shaun Dykes, CEO of American CuMo Mining Corporation. “This report left no stone unturned and held this exploration to the highest standards which fit perfectly with CuMo’s commitment to environmental excellence. The release of the Supplemental Redline EA is a positive step in a transparent and ongoing public process to advance this strategic mineral exploration.”
USFS has been conducting the current phase of the strenuous environmental review of mineral exploration activities at the CuMo Project located in Southwestern Idaho, USA, since 2011.
As identified in the 2017 scoping documents, USFS determined to undertake additional analysis at the CuMo Project exploration to consider changed conditions resulting from the 2016 Pioneer Fire and updates to most resource baseline conditions and effects. To address the 2016 Court order and changed conditions resulting from the 2016 Pioneer Fire, Forest Supervisor of the Boise National Forest, Cecilia Seesholtz, determined to convey and document all updated information in an SREA which is now available for public review and comment.
“CuMoCo has once again demonstrated its commitment to a strong working relationship with the USFS and the communities of Idaho,” said Dykes. “Our industry-leading environmental practices are dedicated to advancing this vital exploration program.”
CuMoCo has been conducting scientific exploration of the CuMo Project since 2004 and relies on scientific methodology and best practices in every facet of research and development. Corporate leadership believes the outcome of the USFS EA studies will affirm that the CuMo Project can proceed with full and complete exploration – with negligible impact on the environment.
“With the cooperation of the USFS, best management practices and vital support of the community, the CuMo Project should be advanced,” said Dykes. “As CuMoCo works through the environmental assessments, we believe we will be able to reach our goal of collecting the information required to make critical decisions.”
To review and comment on the USFS Supplemental Red Line, please go to https://www.fs.usda.gov/project/?project=52875.
Mr. Shaun M. Dykes, M.Sc. (Eng), P.Geo., President and CEO of the Company, is the designated qualified person for the CuMo Project and has prepared the technical information contained in this news release.
CuMoCo is focused on advancing its CuMo Project towards feasibility. Management is continuing to build an even stronger foundation from which to move the Company and its projects forward. For more information, please visit cumoco.com, idahocumo.com and cumoproject.com.
For further information, please contact:
American CuMo Mining Corporation
Shaun Dykes, President and Chief Executive Officer
Tel: (604) 689-7902
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new release.
Cautionary statement regarding forward‐looking information
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation including, but not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “predicts”, “projects”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information include, but are not limited to, statements with respect to the transactions contemplated under the Private Placement, the completion of the Private Placement, Technical Report Environmental Studies and NSR Amendment and the revocation of the Cease Trade Order. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the requirement for regulatory or Exchange approvals or third-party consents, the impact of general business and economic conditions, and the absence of control over the completion of certain aspects of the Technical Report or Environmental Studies and the issuance of a full revocation of the Cease Trade Order. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.