October 18, 2011
Tirex Resources Update
VANCOUVER, BC - Tirex Resources
(TSX-V:TXX) announces that it has submitted all of the required documentation to apply for mining permits in the areas known as Central Gurthi & North Gurthi (Koshaj), South Gurthi & Letitna, Tuc, Qaf Bari, Fushe Arres and Paluca via license application numbers LC-9821-08-2011, LC-9819-08-2011, LC-9822-08-2011, LC-9820-08-2011, LC-9817-08-2011 and LC-9818-08-2011.
These areas of the Mirdita District have been the subject of substantial investment by Tirex during the past four years and held by Tirex within Tirexs exploration land package (Exploration Concession 1013).
To date, Tirex has spent a total of approximately $25 million on the companys Mirdita VMS Project.
Tirex has now applied to transition the six specific areas into production based on successful work that variously consisted of drilling, database compilation, airborne geophysics, ground geophysics, geochemistry and geological mapping.
Tirex has submitted comprehensive documentation with respect to the environment and the community to the Ministry of Environment and Forestry and mining plans to the Ministry of Economy, Trade and Energy.
Tirexs applications have received official support from all the host communities where the mining permit applications are located.
Tirexs mining plans, as presented to the government, would create substantial long term employment, infrastructure growth and community benefits in an area of Albania in need of investment and economic activity.
During exploration in these areas, Tirex established a strong local presence that has resulted in a level of employment and economic activity that is expected to grow further during prospective mining operations.
Further details on Tirex Resources Ltd.
and the Mirdita Project can be found on the Tirex website at www.TirexResources.com.
ON BEHALF OF TIREX RESOURCES LTD.
Bryan J.R.
Slusarchuk, Chief Executive Officer
Forward-Looking Statements.
This Tirex News Release may contain certain "forward-looking" statements and information relating to Tirex.
Such statements include but are not limited to statements about the timing of the mine development, mill construction and ore production.
Often forward-looking statements or information include words such as "plans", expects", "intends", "anticipates", "estimates", "forecasts", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or will be taken occur or be achieved.
Although forward-looking statements and
information contained in this release are based on the beliefs of Tirex management, which we consider to be reasonable, as well as assumptions made by and information currently available to Tirex management, there is no assurance that the forward-looking statement or information will prove to be accurate.
The assumptions made include assumptions about Tirex receiving the mining permits applied for.
Tirex has no assurance that the permits will be issued nor if issued, that they will be issued in a timely manner.
The forward-looking statements and information contained in this release are subject to current risks, uncertainties and assumptions related to certain factors including, without
limitations, obtaining all necessary approvals, feasibility of mine and plant development, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events as well as risks, uncertainties and other factors discussed in our quarterly and annual and interim managements discussion and analysis.
Should any one or more of these risks or uncertainties materialize or change, or should any
underlying assumptions prove incorrect, actual results and forward-looking statements and information may vary materially from those described herein.
Accordingly, readers should not place undue reliance on forward-looking statements and information contained in this release.
We undertake no obligation to update forward-looking statements or information except as required by law.
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release." |
