Bear Lake Gold Ltd. Update on MNDMF
19 Agosto 2011 - 6:52PM
Marketwired
Bear Lake Gold Ltd. (the "Company" or "Bear Lake") (TSX VENTURE:
BLG) received today a letter from the Ontario Ministry of Northern
Development, Mines and Forestry ("MNDMF") addressed to five
companies, including Bear Lake, indicating that the MNDMF intends
to issue an order to file a certified closure plan with respect to
the Upper and Lower Kerr mine tailings areas by February 19, 2012.
As previously indicated in the Company's continuous disclosure
documents, the Company believes that it does not have any liability
related to mine hazards that are located on property owned and
controlled by others. Bear Lake has denied any responsibility but
has cooperated with the MNDMF and has conducted appropriate
preventive measures on its own claims. This matter has been ongoing
since December 2009 and the Company will vigorously maintain its
position. At this time, the Company cannot estimate the potential
cost for dealing with this issue.
Forward-Looking Information
This news release contains certain "forward-looking information"
under Canadian securities laws. All statements that address future
plans, activities, events or developments that the Company
believes, expects or anticipates will or may occur are
forward-looking information. Specifically, this news release
contains forward looking information with respect to the potential
liability and costs related to tailings from the Kerr Addison
mining operations. Forward looking information is based upon
assumptions by management that are subject to known and unknown
risks and uncertainties beyond the Company's control, including
risks related to capital markets and the availability of financing
for companies such as the Company. There can be no assurance that
outcomes anticipated in the forward looking information will occur,
and actual results may differ materially for a variety of reasons.
Accordingly, readers should not place undue reliance on
forward-looking information. The Company undertakes no obligation
to update publicly or otherwise revise any forward-looking
information, except as may be required by law.
About Bear Lake Gold
Bear Lake Gold is engaged in the exploration of gold projects
located in the Cadillac-Larder Lake Break mining district of
north-eastern Ontario. Additional information about the Company is
available on its website at www.bearlakegold.com and on SEDAR at
www.sedar.ca.
Neither 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.
Contacts: Francois Viens President and CEO Bear Lake Gold Ltd.
450-677-1009 450-677-2601 (FAX) fviens@bearlakegold.com
www.bearlakegold.com
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