Minefinders Corporation Ltd.
Minefinders Receives Dolores Environmental Permits
Corporate-news transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Minefinders Receives Dolores Environmental Permits
Vancouver, British Columbia, Canada. May 9, 2006. Minefinders Corporation
Ltd. (the ‘Company’) (Frankfurt WKN: 859435; TSX: MFL; AMEX: MFN) announces
that the Mexican Environmental Agency, SEMERNAT, has now approved the
Company’s Environmental Impact Statement (Manifestacion de Impacto
Ambiental) and associated Change Of Land Use, clearing the way for
construction and mining operations at its planned Dolores gold and silver
mine.
Company President, Mark Bailey, commented: ‘These approvals are the
culmination of several years of hard work on environmental compliance at
our 100% owned Dolores project. With these permits in hand, we can now
accelerate construction of the project to meet our goal of pouring gold and
silver at Dolores in the third quarter of 2007.’
In associated permitting activity, the Company has reached agreement in
principle with the Rio Yaqui irrigation district to obtain the right to
2,000,000 cubic meters per year of surface water. The agreement, which will
ensure all of the water required for the life of the project, is expected
to be finalized over the next two weeks.
Dolores Construction Update
In anticipation of the receipt of the environmental permits, the Company
has been completing detailed engineering, updating the resource model,
identifying human resource needs, and constructing the primary access road
into the Dolores mine site. Detailed engineering is expected to be complete
for almost all project components by June 15. All long-lead items,
including the mining fleet and crushers, have now been ordered; and initial
bids for earthworks have been received, with ground breaking on the
facilities areas expected to occur in the first week of June.
As previously announced, construction of the new mine road, from Yepachic,
north to Dolores, started in the fourth quarter of 2005. The road now
provides light vehicle access to the site, with the first 60 kilometres
completed to full road width. The last 35 kilometres of the road is under
final construction, with full heavy vehicle access to Dolores expected by
the first week of June, to coincide with the start of earthworks.
Project Hiring
With much of the required project funding now in place (and discussions for
the remaining, debt, component well advanced), the Company has now hired
Shaun Ball, as its Senior Mining Engineer. Mr. Ball has extensive mine
design experience and is an important addition to the Dolores team. The
Company also expects to complete the engagement of a senior procurement
manager, with extensive experience in Latin America, within the next two
weeks. Candidates for several other key construction and operations
positions are being identified and the positions will be filled as
required.
Continuing Planning and Resource-Expansion Drilling
Separately, mine plan optimization studies are ongoing and will continue
throughout the construction period. In addition, the Company has now
commenced a 35,000 metre resource-expansion drilling program, directed at
previously-discovered mineralized zones outside the current mine plan and
at untested targets. Mineralization at Dolores remains open in all
directions and there is considerable potential to increase project gold and
silver resources.
Quality Assurance and Control
Mark Bailey MSc., P.Geo. is a ‘qualified person’, as that term is defined
in NI 43-101 of the Canadian Securities Administrators, and is responsible
for the contents of this news release.
MINEFINDERS CORPORATION LTD.
Mark H. Bailey, President and Chief Executive Officer
Safe Harbor Statement under the United States Private Securities Litigation
Act of 1995: Statements in this release that are forward-looking, including
statements relating to the potential growth in size of the Company’s
mineral reserves and resources, and the timing of the commencement of
construction at, the conclusion of agreements relating to, the hiring of
employees for, and the commencement of mining operations at the Company’s
Dolores project, are subject to various risks and uncertainties that are
beyond the control of the Company, including those risks described in the
Company’s periodic filings with the Ontario Securities Commission and the
U. S. Securities Exchange Commission (‘SEC’) and subsequent events may vary
significantly from those contemplated by these statements. These forward
looking statements represent management’s best judgment as of the date
hereof, based on information currently available. The Company does not
intend to update this information and disclaims any legal liability to the
contrary.
For further information, please contact:
Minefinders Corporation Ltd.
Mark H. Bailey, President and Chief Executive Officer
2288-1177 West Hastings Street
Vancouver, BC, V6E 2K3, Canada
Tel. +1 (604) 687-6263
Tel. +1 (866) 687-6263
Fax +1 (604) 687-6267
www.minefinders.com
AXINO AG
Silberburgstrasse 112
D-70176 Stuttgart
Tel. +49 (711) 25 35 92-30
Fax +49 (711) 25 35 92-33
info@axino.de
www.axino.de
(c)DGAP 09.05.2006
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Language: English
Issuer: Minefinders Corporation Ltd.
2288-1177 W Hastings St
V6E 2K3 Vancouver, BC Kanada
Phone: +1 (604) 687-6263
Fax: +1 (604) 687-6267
email: info@minefinders.com
WWW: www.minefinders.com
ISIN: CA6029001022
WKN: 859435
indices:
Listed: Freiverkehr in Berlin-Bremen, München; Open Market in
Frankfurt; Foreign Exchange(s) Toronto
End of News DGAP News-Service
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