Scandinavian Minerals Ltd.
Scandinavian Minerals Ltd.: Scandinavian Minerals applies for environmental permit for Kevitsa, Finland nickel-copper-PGE property
Scandinavian Minerals Ltd. / Miscellaneous Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Scandinavian Minerals Limited TSX:SGL For Immediate Release July 6, 2007 Scandinavian Minerals applies for environmental permit for Kevitsa, Finland nickel-copper-PGE property Toronto, Canada – Scandinavian Minerals Limited (TSX: SGL, Frankfurt: W3M) is pleased to announce that it has applied for the environmental permit for its 100%-owned Kevitsa nickel-copper-PGE property in Finland. The permit has been submitted to the Environmental Permitting Authority for Northern Finland. In December, 2006 the Company applied for the mining permit for the Kevitsa property. The mining and the environmental permits comprise the two permits required under Finnish law for the construction of a mine. Both permits are expected to take approximately one year to be granted. The permit applications are based on an open pit mining operation, mining approximately 4.5 million tons of ore per year, with production of nickel and copper concentrates containing 19 million pounds (8,700 tons) of nickel and 31 million pounds (14,200 tons) of copper per year. Both permit applications make provision for a possible higher level of production, subject to the conclusions of the ongoing feasibility study. Mr. Peter Walker, President and Chief Executive Officer of Scandinavian Minerals, commented 'The filing of the environmental permit application completes the permit application process for the Kevitsa property. It follows the previously announced engagement of Outotec Oy to carry out the detailed mine and process engineering for the Kevitsa project. We will continue to advance other aspects of development, in order to bring the project into production at the earliest possible date.' In April, 2007 Scandinavian Minerals commenced the feasibility study for the Kevitsa property, which is expected to take about 12 months to complete. At the same time, the Company is continuing to advance infrastructure planning for the project. This includes the upgrading of the present forest road to the property, as well as water and power supply. In this regard, the Company has recently received the permit necessary to construct the 6 kilometre power line to the site and expects to receive the road construction permit later this year. About Scandinavian Minerals Scandinavian Minerals Limited is a Canadian public company listed on the Toronto Stock Exchange under the symbol 'SGL' and on the Frankfurt Vreiverkehr market under the symbol W3M. The Company’s current focus is the development of its 100%-owned Kevitsa nickel-copper-PGE project in northern Finland. Forward-Looking Statements Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. For further information, please visit www.scandinavianminerals.com or contact: John Kearney, Chairman Peter Walker, President & CEO (416) 203-6128 (+44) 7717 223909 Chris de Saint-Rome, Marlies Studer, Studer Consulting AG Corporate Development Advisor (+41) 44 215 2803 (514) 802-3377 email: info@scandinavianminerals.com 111 Richmond Street West, Suite 1002, Toronto, Canada M5H 2G4 Telephone: (416) 203-6128 Fax: (416) 368-5344 Email: info@scandinavianminerals.com www.scandinavianminerals.com DGAP 06.07.2007 ----------------------------------------------------------------------
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