USFS Updates Schedule for Stibnite Gold Project’s Draft Environmental Impact Statement

Additional Federal Resources Committed to Project to Ensure Timely Completion of Draft EIS

VANCOUVER, British Columbia, April 01, 2020 (GLOBE NEWSWIRE) -- Midas Gold Corp. (MAX:TSX / MDRPF:OTCQX, “Midas Gold” or the “Company”) today announced the United States Forest Service (“USFS”) and other regulators working on the Stibnite Gold Project (“Project”) have released an updated schedule for the permitting of the Stibnite Gold Project and committed to releasing the draft environmental impact statement (“Draft EIS”) for public review in Q3, 2020. The updated schedule comes after a comprehensive internal review by federal and state regulators of the preliminary Draft EIS that identified areas for improvement and refinement resulting in a more user-accessible document.  The USFS has pledged to provide additional resources to undertake the final review and release of the Draft EIS. 

The updated schedule should ultimately support a complete and robust record of decision (“ROD”) at the conclusion of the NEPA process later in 2021.  A number of key milestones have been built into the updated Draft EIS timeline which will be monitored closely to keep those working on the project on track and on schedule.  The USFS intends that the additional time allotted will make the document easier for the public to review and understand.  Midas Gold remains committed to providing regulators with the support and information needed to ensure the USFS develops the best alternative possible for the Stibnite Gold Project.

“We have been assured by USFS that they are working diligently to bring additional resources and expertise to the table to complete this process in a timely and cost-effective manner,” said Stephen Quin, President & CEO of Midas Gold Corp. “Just as our teams at Midas Gold are adjusting to being fully productive while working from home, federal agencies are maximizing telework technologies to keep the project moving forward. We have been assured that the agencies have and will dedicate the resources that will enable them to stick to the updated timeline.”

COVID-19 Impacts
The updated timeline also takes into account the evolving situation around the COVID-19 pandemic, as far as can be determined.  Mining was named an essential service under Idaho Governor Brad Little’s recent stay-at-home order, so Midas Gold employees are moving the Stibnite Gold Project forward while looking to minimize delays.  To protect the health and safety of its employees and the greater community, Midas Gold has transitioned all team members to work from home, where feasible.  A number of employees remain at site to monitor and maintain the environmental conditions at site.  Federal, state and local agencies have implemented various contingency plans to address the impacts of COVID-19 and are continuing to advance work on the Stibnite Gold Project from remote locations.