BROSSARD, QC, March 6, 2025 /CNW/ - G Mining Ventures Corp. ("GMIN" or the "Corporation") (TSX: GMIN) (OTCQX: GMINF) is pleased to announce the commencement of site preparation activities at its Oko West Gold Project ("Oko West" or the "Project") in Guyana, marking a major step forward in the project's development.
With the Interim Environmental Permit ("IEP") from the Guyana Environmental Protection Agency ("EPA") already in hand (see news release dated January 7, 2025), the early works construction program is now officially underway, as a part of the total $200 – 240 million Oko West capex guidance for 2025 (see news release dated January 21, 2025). Site preparation activities are in progress for the barge landing on the Cuyuní River and the permanent camp area, which are key initial infrastructures to support future development. Concurrently, GMIN continues to advance permitting efforts toward securing the full Environmental License from the EPA.
The early works construction activities permitted under the IEP include:
Barge landing facility
Main access road and internal roads
Airstrip
Permanent camp facility
Water and sewage treatment plants
Power generation
Communications tower
"The commencement of early works construction at Oko West demonstrates our commitment to expedite the delivery of another world-class gold project," commented Louis-Pierre Gignac, President & CEO. "With site preparation activities ule, we are applying our extensive development expertise to ensure seamless execution while upholding high safety, environmental, and social standards. These early-stage activities lay the groundwork for potentially fast tracking the project construction, once we publish the Feasibility Study, secure financing and make a formal construction decision, all anticipated by the middle of 2025."
Figure 1: Oko West Gold Project Barge Landing Site Preparation (CNW Group/G Mining Ventures Corp)
Figure 2: Oko West Gold Project Permanent Camp Site Preparation (CNW Group/G Mining Ventures Corp)
Figure 2: Oko West Gold Project Permanent Camp Site Preparation (CNW Group/G Mining Ventures Corp)
The Oko West Feasibility Study is on track for Q2 2025 publication, incorporating updated mineral resource and mineral reserve estimates. A positive outcome, combined with the receipt of final permits and project financing, is expected to support a formal construction decision in H2 2025.
Figure 3: Oko West Gold Project Development Timeline (CNW Group/G Mining Ventures Corp)
Key Oko West Milestones
Over 2025, the Corporation will focus on the following activities with respect to Oko West:
FS publication (Q2-2025)
Project financing (H2-2025)
Formal construction decision (H2-2025)
Continuation of detailed engineering (2025)
Greenfield and brownfield exploration (2025)
About G Mining Ventures Corp.
G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF) is a mining company engaged in the acquisition, exploration and development of precious metal projects to capitalize on the value uplift from successful mine development. GMIN is well-positioned to grow into the next mid-tier precious metals producer by leveraging strong access to capital and proven development expertise. GMIN is currently anchored by the Tocantinzinho Gold Mine in Brazil and supported by its Oko West Gold Project in Guyana and Gurupi Gold Project in Brazil, both of which are located in mining friendly jurisdictions.
Cautionary Statement on Forward-Looking Information All statements, other than statements of historical fact, contained in this press release constitute "forward-looking information" and "forward-looking statements" within the meaning of certain securities laws and are based on expectations and projections as of the date of this press release. Forward-looking statements contained in this press release include, without limitation, those related to (i) the publication of a Feasibility Study for Oko West in Q2 2025, featuring the inaugural reserve estimate and updated mineral resources; (ii) the TZ mill being expected to operate at nameplate capacity; (iii) the restart of exploration activities being a major step forward in the Project's development; (iv) the barge landing and permanent camp being key initial infrastructure to support the Project's development; (v) the comments quoted from GMIN's President & CEO; (vi) the figure entitled "Oko West Gold Project Development Timeline"; and (vii) more generally, the sections entitled "Oko West Key Milestones" and "About G Mining Ventures Corp.".
Forward-looking statements are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Such assumptions include, without limitation, those relating to the price of gold and currency exchange rates (notably the BRL/USD exchange rate), and the items listed in the above section entitled "About G Mining Ventures Corp.".
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that, notably but without limitation, (i) GMIN's 2024 operational success at TZ will be repeated in 2025, or (ii) TZ will generate sufficient free cash flow to advance the Oko West Project, or (iii) the Oko West Feasibility Study will prove positive and the final permits will be obtained, or (iv) an official construction decision for Oko West will be made in H2 2025, or at all, or (v) the Oko West exploration program will lead to expanding its mineral resource inventory, or (vi) mineral resources will eventually demonstrate economic viability and be converted (in whole or in part) into mineral reserves, or (vii) more generally, GMIN will achieve its stated objectives for TZ and Oko West or use TZ and Oko West to grow GMIN into the next mid-tier precious metals producer; as future events could differ materially from what is currently anticipated by the Corporation. In addition, there can be no assurance that Brazil and/or Guyana will remain mining friendly and prospective jurisdictions.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in the Corporation's other filings with the securities regulators of Canada including, but not limited to, the cautionary statements made in the relevant sections of the (i) Annual Information Form of G Mining TZ Corp. (then known as G Mining Ventures Corp.) dated March 27, 2024, for the financial year ended December 31, 2023, (ii) Annual Information Form of G Mining Guyana Corp. (then known as Reunion Gold Corporation) dated April 25, 2024, for the financial year ended December 31, 2023, and (iii) Management Discussion & Analysis. The Corporation cautions that the foregoing list of factors that may affect future results is not exhaustive, and new, unforeseeable risks may arise from time to time. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
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