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WG: POLYMET CLARIFIES STATUS OF ENVIRONMENTAL REVIEW FOLLOWING MISLEADING NEWSPAPER REPORT
Von: Marketwire [mailto:]
Gesendet: Montag, 13.
Februar 2012 14:46
An:
Betreff: PolyMet Clarifies Status of Environmental Review Following
Misleading Newspaper Report
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PolyMet Mining Corp.
TSX:
POM
NYSE Amex:
PLM
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February 13, 2012
PolyMet Clarifies Status of Environmental Review Following Misleading
Newspaper Report
ST.
PAUL, MINNESOTA--(Marketwire - Feb.
13, 2012) - PolyMet Mining Corp.
(TSX:POM)(NYSE Amex:PLM) ("PolyMet" or the "Company") today clarified the
status of the environmental review of its NorthMet project following a
misleading newspaper report on Friday.
PolyMet controls 100% of the
development-stage NorthMet copper-nickel-precious metals ore-body and the
nearby Erie Plant, located near Hoyt Lakes in the established mining
district of the Mesabi Iron Range in northeastern Minnesota.
On February 10, 2012, the Minneapolis Star Tribune published an article
about the schedule for completion of the PolyMet environmental review that
misrepresented the timeline of comments from the US Environmental Protection
Agency ("EPA") and incorrectly stated that the supplemental draft
Environmental Impact Statement ("EIS") had been delayed while PolyMet
collected additional groundwater sampling data.
On the evening of February 10, 2012 the Star Tribune published an on-line
revised version of the article, including a clarification that the EPA
comments were received by state regulators on September 1, 2011.
The revised
article did not address the fact that gathering additional groundwater
sampling data has not contributed to delays in completion of the
supplemental draft EIS.
The clarification has not appeared in print.
The Facts
In September 2011, the EPA evaluated the software package being used for
environmental modeling.
As part of that evaluation, the EPA stated that it
"...is pleased that (PolyMet) and the co-lead agencies are pursuing
collection of additional groundwater sampling data..." (Emphasis added by
PolyMet.)
The EPA continued that, in its opinion, "the collection of additional
baseline data is essential to providing relevant input to the modeling
efforts..." The EPA also observed that proper QA/QC (quality
assurance/quality control) procedures needed to be incorporated into the
model.
PolyMet is pleased to report that additional groundwater sampling is
underway and initial results are in line with the results of previous
sampling.
Review of all aspects of the environmental modeling by the co-lead
agencies is well advanced, and co-lead agency review of the QA/QC procedures
is nearing completion.
The supplemental draft EIS is being prepared under
protocols agreed by the co-lead agencies, the EPA and others.
It had been the co-lead agencies intent to incorporate the results of the
additional groundwater sampling into the final EIS.
The current timeline for
completion of the supplemental draft EIS will enable these results to be
incorporated into that document.
Brad Moore, PolyMets Executive Vice President of Environmental and
Governmental Affairs stated, "We are very pleased with the way that the
co-lead Agencies and the EPA are working closely together and addressing
issues as they occur."
About PolyMet
PolyMet Mining Corp.
(www.polymetmining.com) is a publicly-traded mine
development company that controls 100% of the NorthMet
copper-nickel-precious metals ore body through a long-term lease and owns
100% of the Erie Plant, a large processing facility located approximately
six miles from the ore body in the established mining district of the Mesabi
Range in northeastern Minnesota.
PolyMet Mining Corp.
has completed its
Definitive Feasibility Study and is seeking environmental and operating
permits to enable it to commence production.
The NorthMet project is
expected to require approximately one-and-a-quarter million hours of
construction labor and create approximately 360 long-term jobs, a level of
activity that will have a significant multiplier effect in the local
economy.
POLYMET MINING CORP.
Joe Scipioni, CEO
This news release contains certain forward-looking statements concerning
anticipated developments in PolyMets operations in the future.
Forward-looking statements are frequently, but not always, identified by
words such as "expects", "anticipates", "believes", "intends", "estimates",
"potential", "possible", "projects", "plans", and similar expressions, or
statements that events, conditions or results "will", "may", "could", or
"should" occur or be achieved or their negatives or other comparable words.
These forward-looking statements may include statements regarding our
beliefs related to the expected proceeds and closing of the registered
direct offering, exploration results and budgets, reserve estimates, mineral
resource estimates, work programs, capital expenditures, actions by
government authorities, including changes in government regulation, the
market price of natural resources, costs, or other statements that are not a
statement of fact.
Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties.
Actual
results may differ materially from those in the forward-looking statements
due to risks facing PolyMet or due to actual facts differing from the
assumptions underlying its predictions.
PolyMets forward-looking statements
are based on the beliefs, expectations and opinions of management on the
date the statements are made, and PolyMet does not assume any obligation to
update forward-looking statements if circumstances or managements beliefs,
expectations and opinions should change.
Specific reference is made to PolyMets most recent Annual Report on Form
20-F for the fiscal year ended January 31, 2011 and in our other filings
with Canadian securities authorities and the Securities and Exchange
Commission, including our Report on Form 6-K providing information with
respect to our operations for the year ended January 31, 2011 for a
discussion of some of the risk factors and other considerations underlying
forward-looking statements.
PolyMets Quarterly Report for the three months
ended April 30, 2011 included a detailed description of the transition to
IFRS.
The TSX has not reviewed and does not accept responsibility for the adequacy
or accuracy of this release.
CONTACT INFORMATION:
PolyMet Mining Corp.
- Corporate
Douglas Newby
Chief Financial Officer
+1 (651) 389-4105
or
PolyMet Mining Corp.
- Media
LaTisha Gietzen
VP Public, Govt & Environmental Affairs
+1 (218) 471-2157
or
PolyMet Mining Corp.
- Investors
Crystal Agresti
+1 (651) 389-4104
or
PolyMet Mining Corp.
- Investors
Alex Macdougall
+1 (226) 663-3000
www.polymetmining.com
INDUSTRY: Manufacturing and Production - Mining and Metals
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