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Euro Sun Mining Inc (2)
Symbol ESM
Shares Issued 57,575,461
Close 2018-05-22 C$ 1.12
Market Cap C$ 64,484,516
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Euro Sun nearing ratification for Rovina mining licence

2018-05-23 08:40 ET - News Release

Mr. G. Scott Moore reports

EURO SUN PROVIDES LICENSE RATIFICATION UPDATE FOR ROVINA VALLEY

Following a meeting with the secretary-general of government (SGG) in conjunction with the National Agency for Mineral Resources (NAMR), it has been confirmed to Euro Sun Mining Inc. that the Ministry of Economy, the Ministry of Environment, and the Ministry of Waters and Forests have all signed the mining licence.

The mining licence is now with the Ministry of Public Finance for signature, following which it will be sent to the Ministry of Justice. The fully executed licence will then return to SGG for signature by the Prime Minister at the next available government meeting. This will conclude the ratification process and the mining licence approval will be published in the Official Monitor.

G. Scott Moore, president and chief executive officer of Euro Sun, stated: "The secretary-general of government assured management of their intention to ratify our mining licence and will submit the fundamental note to the government meeting at the earliest opportunity following the signature of the Ministry of Justice. My team and I are in Romania, to assist where necessary, and to ensure a quick completion of the ratification. We look forward to initiating the next phase of the Rovina Valley project for the State of Romania, our local communities and for all our stakeholders."

The Rovina Valley project is one of the largest mineral deposits in Europe and consists of three porphyry deposits: Colnic, Rovina and Ciresta. The project hosts measured and indicated mineral resources of 7.2 million ounces of gold and 1.4 billion pounds of copper in 406 million tonnes at 0.55 gold gram per tonne and 0.16 per cent of contained copper.

Qualified person

The scientific and technical information presented in this press release has been reviewed and approved by Randall Ruff, vice-president of exploration for Euro Sun, who is a qualified person as defined by National Instrument 43-101.

About Euro Sun Mining Inc.

Euro Sun is a Toronto Stock Exchange-listed mining company focused on the exploration and development of its 100-per-cent-owned Rovina Valley gold and copper project located in west-central Romania, which hosts the second largest gold deposit in Europe.

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