Continental Gold Launches Future Harvest Agricultural Program in Western Antioquia
TORONTO, ON--(Marketwired - September 05, 2017) - Continental Gold Inc. (TSX: CNL) (OTCQX: CGOOF) ("Continental" or the "Company") is pleased to announce that, as part of its sustainability strategy, it has launched Future Harvest, a program to support the agricultural development of western Antioquia. The program promotes use of the best agricultural practices to help develop sustainable economic activity in the region, while protecting the environment.
- Future Harvest is projected to directly benefit the communities of Buriticá, Santa Fe de Antioquia, Giraldo and Cañasgordas which are all in the Company's direct area of influence;
- Continental Gold intends to contribute approximately US$370,000 of the total program investment of US$518,000; and
- Seven business plans are prioritized to use the best agricultural practices to protect ecosystems.
Future Harvest is expected to improve agricultural production in the municipalities of western Antioquia, within the area of influence of the Company's Buriticá mining project, through the creation of public and private alliances and funding for the development of sustainable agriculture initiatives.
To ensure the long-term sustainability of the program, Continental created the Future Harvest agricultural fund for the exclusive benefit of farmers. The program has initially allied with 14 private and public entities to provide solid support for this important program for the development of western Antioquia. Continental plans to contribute 1,112 million pesos (US$370,000) of the total program investment of 1,554 million pesos (US$518,000) to advance the implementation of a self-sufficient sustainability strategy with productive agricultural business plans in the communities of Buriticá, Cañasgordas, Giraldo and Santa Fe de Antioquia.
The first seven business plans funded under Future Harvest include programs for cultivating coffee, plantains, poultry, garden produce, strawberries, as well as fish farming and fiber production. Each business plan was structured with the communities and local and regional institutions, taking into account local productive capacities, soil productivity and quality and other variables, while promoting efficient water resource management and the use of best agricultural practices to balance development with protecting ecosystems. Each business plan also features the development of an integrated rural program, ongoing training and the transfer of productive assets, as well as providing access to savings programs and support regarding consumption, which have been proven to result in significant and lasting improvements on the quality of life.
Continental recently presented the Future Harvest agricultural development program in the Buriticá municipality with mayors from the four involved communities in the region as well as the public, private and educational entities supporting it. Comments from the mayors included:
Humberto Castaño, Mayor of Buriticá: "Through responsible, legal and organized mining, we can generate income to transform our land. With Future Harvest, on the day mining operations finish, we can guarantee that there will be sustainable economic activity in the municipality."
Margarita Lopera, Mayor of Cañasgordas: "We are sad that other municipalities in Colombia say NO to mining, because they have not seen what is happening in western Antioquia where there has been a great change. Getting to this point has not been easy but, thanks to public order and institutionalism, we are seeing results that benefit four municipalities."
Saulo Armando Rivera, Mayor of Santa Fe de Antioquia: "The mayors of the region are ready to form strategic alliances with Continental for their territories. There is going to be a lot of employment here and, as municipalities, we need to organize."
Wilmar Adrián Manco, Mayor of Giraldo: "It is beautiful to know that mining is considered an ally by farmers. Continental's Future Harvest is contributing to moving our farmers forward. We believe that this mining project will generate a lot of development."
About Continental Gold
Continental Gold Inc. is an advanced-stage exploration and development company with an extensive portfolio of 100%-owned gold projects in Colombia. Formed in April 2007, the Company -- led by an international management team with a successful track record of discovering and developing large high-grade gold deposits in Latin America -- is focused on advancing its fully-permitted high-grade Buriticá gold project to production with first gold pour on track for early 2020.
For information on the Buriticá project, please refer to the technical report, prepared in accordance with NI 43-101, entitled "Buriticá Project NI 43-101 Technical Report Feasibility Study, Antioquia, Colombia" and dated March 29, 2016 with an effective date of February 24, 2016, led by independent consultants JDS Energy & Mining Inc. The technical report is available on SEDAR at www.sedar.com, on the OTCQX at www.otcmarkets.com and on the Company website at www.continentalgold.com. Additional details on Continental Gold's suite of gold exploration properties are also available at www.continentalgold.com.
Forward-Looking Statements
This news release contains or refers to forward-looking information under Canadian securities legislation, including statements regarding plans for and results of the Future Harvest program and future plans and objectives of the Company, and is based on current expectations that involve a number of significant business risks and uncertainties. Forward-looking statements are subject to other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, an inability to advance the Buriticá project to the next level, failure to convert estimated mineral resources to reserves, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry. Specific reference is made to the most recent Annual Information Form on file with Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements. All of the forward-looking statements made in this news release are qualified by these cautionary statements, and are made as of the date hereof. The Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.
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Contact
For further information, please contact:
Paul Begin
Chief Financial Officer
Continental Gold Inc.
+1.416.583.5610
info@continentalgold.com
www.continentalgold.com