Last checked at 26 Sep 2018 07:00
Georgian Mining Corporation / EPIC: GEO / Sector: Natural Resources
26th September 2018
Georgian Mining Corporation
('GEO' or the 'Company')
Georgian Mining Exploration Permit Approval Imminent
Georgian Mining Corporation announces the results of a meeting with the new Minister of Economy and Sustainable Development, Mr. Georga Kobulia, on Friday 21st September in Tbilisi, Georgia.
Mike Struthers, Chief Executive Officer said:
"Mr. Kobulia settled full-time into his role as Minister of Economy and Sustainable Development on 10th September and I was able to meet with him and the Head of the Mining Agency, Ms. Maia Zavrashvili, at the end of last week. We had a productive discussion around the history of the Company, our plans in Georgia, details of our exploration successes, the pending permit approval, and the Government's plans to significantly expand the country's minerals industry.
"The Minister recognises the quality of our application and our urgency to resolve the issue quickly. He said we can be optimistic for a positive outcome very soon.
"As mentioned previously, this delay has arisen from the Government reorganisation which started in late June and it has taken some time for the new Ministers to divest themselves of their previous responsibilities and to settle into their new roles. I'm very pleased that we finally had the opportunity to present our Company and our permit application at this level and I'm confident that we'll have a positive response very soon.
"I'm also encouraged by the very constructive meeting I had with the Deputy Minister of Environmental Protection and Agriculture, Ms. Nino Tandilashvili, in which we shared our common views on "Responsible Mining" and the Government's migration to European Union standards. Furthermore, we also discussed our Company's plans for environmental studies and CSR programmes in concert with the development of our projects. All of our meetings provided for very positive dialogues and I look forward to working with the Government in the future."
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
**ENDS**
For further information please visit www.georgianmining.com or contact:
| Mike Struthers | Georgian Mining Corporation | Company | Tel: 020 7907 9327 |
| Ewan Leggat | S. P. Angel Corporate Finance LLP | Nomad & Broker | Tel: 020 3470 0470 |
| Soltan Tagiev | S. P. Angel Corporate Finance LLP | Nomad & Broker | Tel: 020 3470 0470 |
| Damon Heath | Shard Capital Partners LLP | Joint Broker | Tel: 020 7186 9950 |
| Camilla Horsfall | Blytheweigh | PR | Tel: 020 7138 3224 |
| Julia Tilley | Blytheweigh | PR | Tel: 020 7138 3553 |
| Simon Woods | Blytheweigh | PR | Tel: 020 7138 3204 |
About Georgian Mining Corporation
Georgian Mining Corporation has 50% ownership and operational control of the Bolnisi Copper and Gold Project in Georgia, situated on the prolific Tethyan Belt, a well-known geological region and host to many high-grade copper-gold deposits and producing mines. The Bolnisi concession covers an area of over 860 sq km and has a 30-year mining licence with a variety of targets and projects ranging from greenfield exploration / target definition phase through intermediate target-testing phases to more advanced projects including Kvemo Bolnisi East which will advance to Feasibility Study in 2018. These projects are proximal to existing mining operations owned by the Company's joint venture partner, and their sister production company. Georgia has an established mining code and is a jurisdiction open to foreign direct investment.