Draft Environmental Impact Statement Available for Midway′s Pan Gold Project, White Pine County, Nevada
Midway Gold Corp. ('Midway? or the 'Company?) announces that the Draft
Environmental Impact Statement (DEIS) for the Pan Project is available
for public comment as published by the U.S. Bureau of Land Management
(BLM) in the federal register. The DEIS provides an analysis of
environmental, social and economic impacts of the proposed mine plan and
possible alternatives. The public is invited to submit comments on the
Pan Project during a 45-day comment period ending May 6, 2013. The BLM
will then address these comments prior to approving the Final EIS and to
awarding a Record of Decision.
'Completion of the Draft EIS marks a significant milestone in our
efforts toward making the Pan Mine a reality,? said Ken Brunk, Midway′s
President & CEO. 'We have come a long way toward bringing the Pan
Project into production and we look forward to achieving the remaining
milestones on the road to our final permits. We invite you to support
Pan′s progress by submitting your comments and we look forward to
reading them.?
What is NEPA?
The Environmental Impact Statement (EIS) for
our Pan Project is required under the National Environmental Policy Act
(NEPA). According to 'A Citizen′s Guide to NEPA,? the federal
government′s official handbook states:
'The environmental review process under NEPA provides an opportunity
for you to be involved in the Federal agency decision making process ?
NEPA requires Federal agencies to consider environmental effects that
include, among others, impacts on social, cultural, and economic
resources, as well as natural resources. Citizens often have valuable
information about places and resources that they value and the potential
environmental, social, and economic effects that proposed federal
actions may have on those places and resources. NEPA′s requirements
provide you the means to work with the agencies so they can take your
information into account.?
What is an EIS?
The Pan project is on federal land and NEPA
requires the Bureau of Land Management (BLM) to analyze potential
environmental consequences of the planned project and any reasonable
alternatives. An EIS is the analysis of how the proposed project, and
possible alternatives, will impact the environment. It proposes
mitigation measures for identified impacts. Midway is far advanced in
the process, which includes baseline studies, a Draft EIS, and then the
Final EIS. The Draft EIS comment period invites the public to be
involved for the second time in the NEPA process. Comments will be
addressed in the Final EIS, which will then inform the
government′s final decision and mitigation requirements. Figure 1
illustrates the Company′s progress in the NEPA permit process to date.
Please click on the following link to view Figure 1. Permitting Progress
at Pan: http://www.usetdas.com/windward/midwaygold03222013.jpg
Why Public Involvement?
Midway understands that public input
is a crucial part of involving the community in our project. We believe
the project will be improved by this involvement and support the BLM in
encouraging residents to submit comments on the Pan project. We
understand that living and working in Nevada is a privilege and we view
this phase of the permitting process as an opportunity for the public to
take part in building our business in Nevada.
You can learn more about the NEPA process by reading 'A Citizen′s Guide
to NEPA? available from the BLM, or on the Web at: http://www.blm.gov/pgdata/etc/medialib/blm/nm/programs/planning/planning_docs.Par.53208.File.dat/A_Citizens_Guide_to_NEPA.pdf
Where to Comment
The BLM will be accepting written comments
beginning March 22nd and ending May 6th. There are
several options available by which to submit comments:
- Mail to the BLM directly
BLM Ely District Office
HC 33 Box
33500
Ely, NV 89301
Attn: Miles Kreidler
- Email the BLM ? BLM_NV_EYDO_Midway_Pan_EIS@blm.gov
The Pan Gold Project, Nevada
The Pan Project represents
nearly a US$100 million capital investment in a part of Nevada that
welcomes new investment and associated economic opportunities (see
Feasibility Study dated December 19, 2011). Once in operation, the
Pan mine is projected to provide 150 workers with stable, high-paying
jobs. In addition to direct employment, Midway expects the mine will
have a multiplier effect by creating support jobs in surrounding
communities.
Geologically, the Pan project is an oxidized, Carlin-style gold deposit
mineable by shallow open pit methods and treatable by heap leaching. A
Feasibility Study was completed in November 2011. It shows the NPV5%
of the project is robust at a range of gold prices, ranging from $123
million at $1,200/oz gold to $344M at $1,900/oz gold. The IRR grows from
32% to 79% using the same gold price range. Both are after-tax figures
(see press release dated November 15, 2011).
Please click here to view Figure 2. Pan Project Feasibility Projections: http://www.usetdas.com/windward/midwaygold03222013a.jpg
This release has been reviewed and approved for Midway by William S.
Neal (M.Sc., CPG), Vice President of Geological Services of Midway, and
a 'qualified person' as that term is defined in NI 43-101.
ON BEHALF OF THE BOARD
'Kenneth A.
Brunk'
Kenneth A. Brunk, Chairman, President and CEO
About Midway Gold Corp.
Midway Gold Corp. is a precious
metals company with a vision to explore, design, build and operate gold
mines in a manner accountable to all stakeholders while assuring return
on shareholder investments. For more information about Midway, please
visit our website at www.midwaygold.com
or contact Jaime Wells, Investor Relations Analyst, at (877) 475-3642
(toll-free).
Neither the TSX Venture Exchange, its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
nor the NYSE MKT accepts responsibility for the adequacy or accuracy of
this release.
This press release contains forward-looking statements about the
Company and its business. Forward looking statements are statements that
are not historical facts and include, but are not limited to, statements
about the Company's intended work plans and resource estimates and
potential offering of common shares of the Company from time to time.
The forward-looking statements in this press release are subject to
various risks, uncertainties and other factors that could cause the
Company's actual results or achievements to differ materially from those
expressed in or implied by forward looking statements. These risks,
uncertainties and other factors include, without limitation, risks
related to the timing and completion of the Company's intended work
plans, 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 Company's properties; uncertainties involved
in the interpretation of drilling results and other tests and the
estimation of gold resources and reserves; the possibility that required
permits may not be obtained on a timely manner or at all; the
possibility that capital and operating costs may be higher than
currently estimated and may preclude commercial development or render
operations uneconomic; the possibility that the estimated recovery rates
may not be achieved; risk of accidents, equipment breakdowns and labor
disputes or other unanticipated difficulties or interruptions; the
possibility of cost overruns or unanticipated expenses in the work
program; and other factors identified in the Company's SEC filings and
its filings with Canadian securities regulatory authorities.
Forward-looking statements are based on the beliefs, opinions and
expectations of the Company's management at the time they are made, and
other than as required by applicable securities laws, the Company does
not assume any obligation to update its forward-looking statements if
those beliefs, opinions or expectations, or other circumstances, should
change.
Midway Gold Corp.
Jaime Wells, (877) 475-3642 (toll-free)
Investor
Relations Analyst