VANCOUVER, BC, Oct. 21, 2021
/CNW/ - Orca Gold Inc. (TSXV: ORG) ("Orca" or the
"Company") is pleased to announce that the Company and the
Government of Sudan signed all the
key development agreements to proceed with the formal construction
of a large commercial gold operation at the Block 14 Gold Project
in northern Sudan. The signing
took place at an official ceremony held on October 20, 2021, at the Ministry of Minerals in
Khartoum, Sudan – see Figures 1
& 2. Orca's President and CEO, Richard
Clark, signed on behalf of the Company and his Excellency,
the Honorable Minister of Minerals, Mohamed
Bashir Abu Numo, signed on behalf of the Government of the
Sudan.
"The signing ceremony in Khartoum was a momentous event to mark the
payoff of a decade long push for a commercial gold industry in
Sudan. The signing of these key
agreements demonstrates the support and commitment of the Sudanese
Government to achieving this objective and we are proud and
privileged to stand beside the people of Sudan and their Government on this journey.
I'd like to extend my sincerest gratitude to the Honourable
Minister Abu Numo and his team at the Ministry and to the Sudanese
Mineral Resources Company for their support and commitment in
showing the world that Sudan is
ready to be a serious player in the mining landscape of
Africa. We at Orca have
demonstrated our dedication to this objective over the past decade
and I am extremely proud of our team for their faith, hard work and
unfailing belief that Sudan is the
next, if not, the final frontier for gold exploration and
development on the continent of Africa. With the clear message being sent by
the Sudan Government in concluding these material, modern,
development agreements, we look forward to welcoming other mining
companies in joining us on this exciting journey," commented
Richard Clark. "Contrary to media
reports of instability in the Sudanese political environment, we
can confirm that it has been business as usual for our operations
to date. Despite experiencing some delivery delays due to issues at
Port Sudan, the political climate
in Sudan continues to be extremely
positive towards international investment and infrastructure
development.
Anticipating the successful conclusion of negotiations with the
Government of Sudan and the
signing of the material development agreements, the Company has
continued in its pre-construction activities at Block 14. The first
phase of the development camp construction is well advanced and
scheduled for completion before year end. In addition to this
construction, the first flight recently landed at Block 14's newly
completed airstrip – see Figures 3 & 4. Regular flights will
now be scheduled in conjunction with operations and development
requirements. This is a key milestone in the early development of
the project as access to the strip cuts travel time from
Khartoum from 14 hours to 2 hours
and significantly increases safety protocols for the operation.
On behalf of the Board of Directors,
"Richard P. Clark"
Richard P. Clark| CEO & Director
| Orca Gold Inc. | 604.689.7842
About Orca Gold Inc.
Orca Gold Inc. (TSX-V: ORG) is a Canadian resource
company focused on exploration and development opportunities in
Africa. Led by a board of
directors made up of industry experts and a management team with a
track record of discovering and building significant mines
globally, Orca is developing one of the leading gold projects in
Africa. The Company is currently
focused on its 70%-owned Block 14 Gold Project in the Republic of
the Sudan on which a Feasibility
Study was completed in November 2018
and revised in September 2020.
Cautionary Statement Regarding Forward-Looking
Information
Certain information contained in this press release
constitutes "forward-looking information", within the
meaning of applicable Canadian and U.S. securities laws. Generally,
these forward-looking statements can be identified by the use of
forward-looking terminology such as "plans", "expects" or
"does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases
or state that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur", "be achieved" or "has
the potential to". The forward-looking information contained
herein is provided for the purpose of assisting
readers in understanding management's current expectations and
plans relating to the future. Readers
are cautioned that such information may not be
appropriate for other purposes.
Forward-looking statements contained in this press release
may include statements regarding the use of proceeds, the closing
of the Private Placement, the future operating or financial
performance of the Company and the financial metrics reported in
our feasibility study, which involve known and unknown risks and
uncertainties which may not prove to be accurate. Actual results
and outcomes may differ materially from what is expressed or
forecasted in these forward-looking statements. Such statements are
qualified in their entirety by the inherent risks and uncertainties
surrounding future expectations. Among those factors which could
cause actual results to differ materially are the following:
the requirement for regulatory approvals; enhanced uncertainty
in global financial markets as a result of the current COVID-19
pandemic; unquantifiable risks related to
government actions and interventions; stock
market volatility; regulatory restrictions; that the Feasibility
Study may not represent a viable development option for Block 14
and that the assumptions set out therein (particularly with respect
to the economics of Block 14) may prove to be untrue or inaccurate;
that actual Mineral Reserves and Resources at Block 14 and the
grades thereof may be less or different in nature than those
contained in the Feasibility Study; that the Company may not meet
the production estimates set out in the Feasibility Study; that the
life of mine at Block 14 may be shorter than anticipated; that the
Company may not receive the necessary permits on time, or at all;
risks related to cost overruns and the changes of the cost of
inputs; that the development and mining of Block 14 may experience
delays and may not proceed on the expected timeline, or at all;
that the Company may develop Block 14 in a different manner than is
set forth in the Feasibility Study and
other risk factors listed from time to time in our reports filed
with Canadian securities regulators on SEDAR at
www.sedar.com. The forward-looking statements included in
this press release are made as of the date of this press release
and the Company disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as expressly
required by applicable securities legislation.
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 release.
SOURCE Orca Gold Inc.