| Announcement Date: | 2022-03-23 |
|---|---|
| Announcement Type: | Feasibility Study |
| Announcement Code: | NI43-101 |
| Company name: | Euro Sun Mining Inc. |
| Project name: | Rovina Valley |
| Location: | Romania |
| Commodities: | Gold,Copper |
| Highlight: | Feasibility Study results incl. post-tax NPV (5%) of US$512M & IRR of 20.5% |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | TORONTO, February 9th, 2022 — Euro Sun Mining Inc. (TSX: ESM) (“Euro Sun” or the “Company”) is pleased to provide the results of its optimized and updated Definitive Feasibility Study (“DFS”) on the Colnic and Rovina open pits – the initial phase of development of its Rovina Valley Gold and Copper Project (the “Rovina Valley Project”) in Romania, one of Europe’s largest gold-copper development projects. Euro Sun is dedicated to the responsible development of the Rovina Valley Project, which may become an important source of strategic metals within the European Union. All amounts are in US dollars unless otherwise indicated. The optimized and updated DFS for the Rovina Valley Project continues to focus on responsible mining procedures including, dry stacking, continuous revegetation, and a cyanide free processing facility. The enhanced project benefits from positive geotechnical study results, reducing waste removal and strip ratios, driving a 9% increase in gold production and a 41% increase in pre-tax NPV. The DFS also incorporated updated cost estimates and metal price assumptions. Euro Sun is incorporating strong responsible mining procedures into every aspect of the project and is utilizing a phased development approach for the Rovina Valley Project. The Rovina Valley Project consists of two open pit gold-copper deposits, Colnic and Rovina, and the underground Ciresata gold-copper deposit. |
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