Shore Gold Diamond Project Environmental Assessment Update
January 26, 2017
Stock Symbol: SGF: TSX
STAR-ORION SOUTH DIAMOND PROJECT UPDATE FROM SASKATCHEWAN MINISTER OF ENVIRONMENT ON ENVIRONMENTAL ASSESSMENT
George H. Read, P. Geo., Senior Vice President Exploration and Development of Shore Gold Inc. (“Shore” or the “Company”) announces that the Company has recently been informed by the Saskatchewan Minister of Environment that additional consultation is required between the government and First Nation and Métis communities for the government to meet its legal obligation with respect to duty to consult and accommodate process. The Company has been informed by the Minister that the government is proceeding with a work plan that they anticipate will enable them to complete this required consultation process within six months. To this end, an Order in Council by the province also announced that a grant, not to exceed $137,000, is being provided to the James Smith Cree Nation for the purpose of consultation with the province for the period January 2017 to March 2017, relating to the duty to consult process.
Minister of Environment Scott Moe indicated to Shore that once consultations with potentially impacted First Nation and Métis communities are thorough and completed, all pertinent information will be reviewed before a decision under The Environmental Assessment Act is made.
Senior Vice President Exploration and Development, George Read, states: “The Company is pleased to receive this update from the Minister of Environment, which provides Shore and our shareholders with an approximate timeline for the completion the Environmental Impact Statement (“EIS”) review process by the province. Shore awaits the province to complete its duty to consult as presently no additional information or activity has been requested from Shore towards the approval of the EIS.”
The Star-Orion South Diamond Project is located in central Saskatchewan some 60 kilometres east of the city of Prince Albert. The Project is in close proximity to established infrastructure, including paved highways and the electrical power grid, which provide significant advantages for future mine development. The Technical Report on the Revised Resource Estimate for the Star-Orion South Diamond Project dated November 9, 2015 provided an updated Mineral Resource Estimate for the Star and Orion South kimberlite deposits: Indicated Mineral Resource of 393 million tonnes containing 55.4 million carats of diamonds at a weighted average price of US$210 per carat. In addition to the Indicated Mineral Resource Estimate, the Star and Orion South Kimberlites include Inferred Resources containing 11.5 million carats.
Shore is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Company trade on the TSX Exchange under the trading symbol “SGF”.