Aug 14, 2013
Maritime Resources Corp. (MAE-TSX Venture) ("Maritime" or the "Company") - announces that it has engaged the services of international engineering and project management company, AMEC, in St. John's, Newfoundland and Labrador, to assist the Company in initiating the first phases of permitting of its Green Bay gold project. AMEC has recently completed Environmental Assessments (EA's) and permitting for other major projects in Newfoundland and Labrador and elsewhere, and will assist Maritime in defining the most efficient plan and strategy, in terms of time and cost, to obtain all required permits that will be necessary for the project, in addition to the preparation of its Environmental Assessment Registration document.
The first phase of work being contracted to AMEC will be the preparation of a Project Regulatory Analysis and Plan for all potential permits and approvals that will be necessary for construction and operation of the project. This phase will identify the necessary permits, their engineering inputs and requirements, and the anticipated time for the preparation and regulatory review for each. The second phase of AMEC's work will consist of the preparation of an Environmental Assessment Registration of the project pursuant to the requirements of the Newfoundland and Labrador Environmental Protection Act in order to initiate the project's EA review. This EA Registration document will then be subject to governmental and public review. No other permits, approvals, or authorizations can be issued until the project is released from the assessment process. Following EA approval the company may proceed with applying for and obtaining all other required permits and must commence construction within 3 years.
Eric Norton, President and CEO of Maritime states: "We are very pleased to be working with AMEC in taking this critical first step towards production. We feel that it is important to do a thorough and comprehensive job at this stage and AMEC's experience will help to ensure that we navigate the regulatory requirements in the most effective and efficient manner possible."
Maritime Resources holds 100% of the Green Bay property, located near Springdale, Newfoundland. The property hosts the past producing Hammerdown gold mine and the Orion gold deposit separated by a 1.5 km distance, and the Lochinvar base metals/precious metals deposit.
An initial Independent NI 43-101 compliant Mineral Resource Estimate for the Green Bay Gold property was released in June 2013. The study estimates the property to contain in excess of 400,000 ounces of gold in the Measured and Indicated category and in excess of 600,000 ounces in the Inferred category, both at a 3 g/t cut-off grade. The estimate was compiled by Tetra Tech of Ontario. Further information on the Green Bay Gold Property, along with the NI43-101 compliant Technical Report filed on SEDAR on July 11, 2013, can be found on our website at www.maritimeresourcescorp.com.
AMEC (LSE: AMEC) is a focused supplier of consulting, engineering and project management services to its customers in the world's oil and gas, mining, clean energy, environment and infrastructure markets. With annual revenues of over Cdn$6.6 billion, AMEC designs, delivers and maintains strategic and complex assets and employs over 29,000 people in around 40 countries worldwide. See www.amec.com
On Behalf of the Board of Directors,
Eric W. Norton
President & CEO
Cathy DiVito, Investor Relations
Telephone: (604) 484-7111
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.