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Press Release #07-13 On August 17, 2007, Western Prospector Group Ltd. (the "Company") reported receiving notice from the Mineral and Petroleum Resources Authority of Mongolia ("MPRAM") that Exploration License 7685X, covering the western part of the Company's Gurvanbulag uranium deposit within the Saddle Hills Project in Mongolia, had been revoked, as some prior work on this license had been funded by the Mongolian State budget. On August 20, 2007, the Company received confirmation that Adamas Mining LLC ("Adamas") had received a similar notice from MPRAM in respect of Exploration License 3367X. The Company, by way of an agreement with Adamas, is earning a 70% interest in Adamas' Exploration License 3367X, which covers the Nemer, Mardaigol and Dor uranium deposits located within the Saddle Hills Project area. The notices received from MPRAM indicated that a total of 34 licenses held by 18 entities are to be revoked. The licenses, held by national and international parties, cover deposits of coal, industrial minerals, base and precious metals, as well as uranium. The Company's legal counsel in Mongolia has assessed the implications of the notices of revocation and advises that the notices received make the licenses subject to invalidation, and do not automatically revoke the licenses. The Company cannot rule out receiving additional license revocation notices from MPRAM. The Company fully intends to vigorously oppose the actions of MPRAM through appeal in the Mongolian courts. "John S. Brock" John S. Brock President and CEO |
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| aus der Diskussion: | Western Prospector: Gold, Uran und vieles mehr! |
| Autor (Datum des Eintrages): | Ikar (21.08.07 21:36:27) |
| Beitrag: | 19 von 34 (ID:31246868) |
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