Euro Sun Mining Announces Appointment of New Director and Update to Critical Raw Materials Act Application
23 September 2024 - 2:00PM
Euro Sun Mining Inc., (TSX: ESM) (“
Euro
Sun” or the “
Company”) announces that it
has appointed Carlo LiVolsi as an independent director of the board
of director of the Company (the “
Board”).
Furthermore, Mr. LiVolsi will replace Mr. Neil Said as Chairman of
the Board, with Mr. Said remaining as an independent director.
Mr. LiVolsi was formerly a director of Apollo
Healthcare Corp. (“Apollo”), previously listed on
the Toronto Stock Exchange (“TSX”). In this role,
Mr. LiVolsi sat on the audit committee and represented Apollo in
connection with the successful acquisition of Apollo by Anjac
SAS.
Critical Raw Materials Act
Application
Further to the press release of the Company
dated July 26, 2024, the Company is pleased to announce that the
European Commission has reviewed the Company’s application (the
“Application”) for the Rovina Valley Project to be
granted the status of a “Strategic Project” under the European
Critical Raw Materials Act and has considered that the Application
is complete. As a next step, the European Commission will now
assess the Application, including transmitting the Application to
the Government of Romania for review.
Commenting on the Application, Mr. Sboros, Chief
Executive Officer of the Company, said “We are delighted that our
efforts over the past few months on the Application has resulted in
the Application accepted as full and complete by the European
Commission at the outset. This efficient progress is a reflection
of the Company’s dedication to bringing the Rovina Valley Project
closer to construction. We look forward to working with the
European Commission and the Government of Romania to have the
Rovina Valley Project contribute to the strategic supply of
minerals to the European Union.”
About Euro Sun Mining Inc.
Euro Sun is a Toronto Stock Exchange listed
mining company focused on the exploration and development of its
100%-owned Rovina Valley gold and copper project located in
west-central Romania, which hosts the second largest gold deposit
in Europe.
The Project supports a circular economy by
unlocking much needed investment and job creation in Hunedoara
County and, delivers critical minerals necessary for Europe’s green
energy transition. The Project adopts the latest in modern mining
environmental methodology and uses no cyanide or wet tailings in
processes.
Further information:
For further information about Euro Sun Mining,
or the contents of this press release, please contact Investor
Relations at info@eurosunmining.com
Caution regarding forward-looking
information:
This press release contains "forward-looking
information" within the meaning of applicable Canadian securities
legislation. Forward-looking information includes, without
limitation, statements regarding the appointment of directors; the
Application, the designation of the Project as a strategic project
within the Act; changes to existing mining legislation in Romania
and development of the Project. Forward-looking information is
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance
or achievements of the Company to be materially different from
those expressed or implied by such forward-looking information,
including risks inherent in the mining industry and risks described
in the public disclosure of the Company which is available under
the profile of the Company on SEDAR+ at www.sedarplus.ca
and on the Company's website at www.eurosunmining.com.
Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such 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. The Company does not undertake to
update any forward-looking information, except in accordance with
applicable securities laws.
The TSX does not accept responsibility for the
adequacy or accuracy of this news release.
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