11 December 2019
URU Metals Limited
(“URU” or “the Company”)
Update on Mining Right Application
The Company wishes to update the market on progress made with respect to the Mining Right Application:
URU is pleased to announce that the Company continues to make progress in advancing the Mining Right Application as announced on the 30 August 2019. The public consultation process for the scoping phase of the Environmental Authorisation process, which is part of the Mining Right Application process, ended on the 2nd of December 2019 and a public open day was held in terms of NEMA regulations on 14 November 2019. Over 103 interested and affected parties (“I&AP’s”) attended the open day and the comments received have been incorporated into the Final Scoping Report which was submitted to the South African Department of Mineral Resources and Energy (“DMRE”) for review on 10 December 2019. The scoping phase of the study is conducted in order to determine preliminary impacts of planned future mining operations and to provide mitigation measures for the impacts identified.
The next phase of the mining right application will commence once the Company receives the approval of the Final Scoping Report from the DMRE which is anticipated to be received in Q1 2020.
CEO of URU Metals, Mr John Zorbas, commented: “We are delighted with the progress made on securing the mineral rights for a further 30 years and taking the project another step closer to development by systematically overcoming regulatory hurdles.”
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.
For further information, please contact:
| URU Metals Limited John Zorbas (Chief Executive Officer) | +1 416 504 3978 |
| SP Angel Corporate Finance LLP (Nominated Adviser and Broker) Ewan Leggat | + 44 (0) 203 470 0470 |
