MIRAMAR MINING CORPORATION
|
Suite 300889 Harbourside Drive, North Vancouver,
B.C. V7P 3S1 Canada Tel: (604) 985-2572 Fax: (604) 980-0731 Toll Free: 1-800-663-8780 |
May 3,
2007 |
NEWS RELEASE 07-08 |
MAE-TSX
MNG-AMEX
|
Miramar Water Licence Materials Filed
Today
Doris North Permitting Continues Forward
VANCOUVER Miramar Mining Corporation today
announced that it will file the additional materials requested by the Nunavut Water Board (NWB) in relation to Miramars water licence
application for the Doris North project in Nunavut, Canada today.
The NWB staff has indicated that they will review the materials
submitted to ensure all issues raised have been addressed over the next two weeks. Miramar expects that dates will then be set for a technical review
session followed by a public hearing to be held this summer to consider the application.
We are pleased to be moving the water board process forward
and are very confident that we can work together with the water board to complete the process and obtain the water licence for Doris North in a timely
manner. Production in 2008 is dependent upon receipt of permits on a timely basis, and we believe that we will receive all permits and licences for
Doris North in time to enable us to meet our planned start up of late 2008. said Tony Walsh.
To this end, Miramar has started procurement and mobilizing of
equipment with the intention of moving as much material as possible in the shipping season of 2007 for development and construction of Doris North.
Other licences and permits, such as the land lease from the Kitikmeot Inuit Association, the production lease with the Nunavut Tunngavik Inc, the
foreshore jetty lease from Indian and Northern Affairs Canada, jetty construction authorization from Transport Canada, amendment to the Metal Mining
Effluent Regulations and authorizations from Fisheries and Oceans Canada relating to tailings disposal and compensation measures have been applied for.
Each of these processes are well underway and should lead to permits being in place to meet the planned construction schedule.
Drilling Update
The Hope Bay exploration program continues to go well with
six drills turning.
Four drills are working at Madrid and have completed 25
holes for a total of 7,800 meters. This includes one deep hole at Suluk, two exploration holes on the Madrid trend, south of Suluk and geotechnical
drilling. Also, at Naartok, 15 RC holes have been completed.
At Boston, two holes have been completed for a total of 700
meters and the sampling of historic core program continues.
The results of all this drilling are currently being
compiled and it is anticipated that the next set of drill results will be announced prior to Mid-May.
Miramar Mining Corporation
Miramar is a Canadian gold company that controls the Hope
Bay project, a large undeveloped gold project in Canada. The Hope Bay project extends over 1,000 sq. km. and encompasses one of the most prospective
undeveloped greenstone belts in Canada. Miramar aims to become an intermediate gold producer through the integrated development of the Hope Bay belt.
Any production at Hope Bay is subject to positive feasibility studies, permitting and regulatory approval, the availability of financing and other
contingencies.
Additional Information
All other information previously released on the Hope Bay Project
is also available on Miramars website at http://www.miramarmining.com/.
Forward Looking Statements
Statements relating to planned permitting, construction and
operation and commencement of production at the Doris North Mine at the Hope Bay project forward-looking statements within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and securities legislation in various provinces in Canada. Forward looking statements are
statements that are not historical facts and are generally, but not always, identified by the words expects, plans,
anticipates, believes, intends, estimates, projects, aims,
potential, goal, objective, prospective, and similar expressions, or that events or conditions
will, would, may, can, could or should occur. Information inferred from the
interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward looking statements, as it
constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are subject
to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking
statements, including, without limitation: risks related to fluctuations in gold prices; uncertainties related to raising sufficient financing to fund
the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors;
the possibility that results of work will not fulfill expectations and realize the perceived potential of the Companys properties; uncertainties
involved in the interpretation of drilling results and other tests and the estimation of gold reserves and resources; the possibility that required
permits may not be obtained on a timely manner or at all or that conditions imposed in connection with those permits may not be achievable on an
economic basis; the possibility that capital and operating costs may be higher than currently estimated and may preclude commercial development or
render operations uneconomic; the need for continued cooperation with NIRB, NWB and other governmental agencies, and the possibility that the agencies
will not give approvals necessary in a timely manner or at all, the possibility that the estimated recovery rates may not be achieved; risk of
accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or
unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from Miramars operations and other risks
and uncertainties, including those described in the Miramars Annual Report on Form 40-F for the year ended December 31, 2006 and Reports on Form
6-K filed with the Securities and Exchange Commission.
Forward-looking statements are based on the beliefs, estimates
and opinions of Miramars management on the date the statements are made. Miramar undertakes no obligation to update these forward-looking
statements if managements beliefs, estimates or opinions, or other factors, should change.
This news release has been authorized by the undersigned on
behalf of Miramar Mining Corporation.
For further information contact:
Anthony P. Walsh
President & CEO, Miramar Mining Corporation
Tel: (604) 985-2572 Fax: (604) 980-0731 Toll Free: 1-800-663-8780 Email:
info@miramarmining.com