White Mountain Provides Progress Update on EIS Submission
SANTIAGO, Chile, April 25, 2013 /PRNewswire/ — White Mountain Titanium Corporation (“White Mountain” or the “Company”) (OTCQB Markets: WMTM) reports that further to the news release of February 27, 2013 where it was announced that an Environmental Impact Statement (“EIS”) for the Cerro Blanco project had been submitted to the Chilean Environmental Authority, Servicio de Evaluacion Ambiental (“SEA”), the Company is pleased to provide a progress update interactions with SEA, other Chilean government departments and local communities.
During March and April, SEA has advanced its assessment of our EIS. As part of this assessment, over 20 government and regional personnel representing 12 different regulatory bodies together with our project team travelled to site for a first hand, technical overview of the project. In addition, and as part of a public meeting, community participation process, members of our project team made presentations on the technical and environmental aspects of the project to residents and authorities of the three local communities, Huasco, Freirina and Vallenar. Issues discussed at these meetings included possible effects the project may have on the livelihoods of farmers, fishermen and sea front algae collectors in the region, qualitative environmental issues and economic issues such as planned employment during the construction and operation phases of the project.
With technical site visits and community public meetings now mostly completed, the SEA assessment is entering a phase where detailed written questions relating to the EIS will be directed to the Company for a written response. Under Chilean law, the EIS and documents relating to the assessment process are publicly disclosed on the SEA web-site and these can be viewed through a link on the company’s web-site, www.wmtcorp.com.
In other developments, the Company has assembled all technical and geologic data on the Cerro Blanco project since its inception for reference and possible incorporation into a new technical report and resource statement. The report and resource statement will be prepared to Canadian NI 43-101 policy standards and is expected to be completed by July 2013.
Commenting on these developments, Brian Flower, White Mountain’s Executive Chairman, said, “We are very pleased with the outcome of the EIS assessment to date. The assessment process is transparent and has advanced quickly and the tenor of discussions with SEA, the regulatory bodies and local communities has been positive.”
About White Mountain Titanium Corporation
The Company holds mining concessions on the Cerro Blanco property currently consisting of 33 registered mining exploitation concessions and five mining exploration concessions in the process of being constituted, over approximately 8,225 hectares located approximately 39 kilometres west of the City of Vallenar in the Atacama, or Region III, geographic region of northern Chile. The Company’s principal objectives are to advance the Cerro Blanco project towards a final engineering feasibility, to secure off-take contracts for the planned rutile concentrate output, and to secure funding or other arrangements to place the project into production, if warranted. It would be the intention to sell the rutile concentrate to titanium metal and pigment producers. Work also continues to investigate the commercial viability of producing a feldspar co-product. The feldspar could find applications in the glass and ceramics industries.
OTCQB Markets has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and, therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
Cautionary Note to U.S. Investors–The United States Securities and Exchange Commission permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We may use certain terms in our press releases and on our website, such as “reserves,” “resources,” “geologic resources,” “proven,” “probable,” “measured,” “indicated,” and “inferred,” that the SEC guidelines strictly prohibit us from including in our filings with the SEC. U.S. investors are urged to consider closely the disclosure in our annual report on Form 10K for the year ended December 31, 2012, File No. 333-129347, and in subsequent filings with the SEC. You can review and obtain copies of our filings from the SEC’s website at http://www.sec.gov/edgar.shtml.
Contact: White Mountain Titanium Corporation Michael Kurtanjek, President Brian Flower, Chairman (562) 2 657-1800 (604) 408-2333
SOURCE White Mountain Titanium Corporation