RESTART OF OPERATIONS AT ROSEBEL MINE
Paris, France, July 27, 2020: Further to EURO Ressources S.A’s (“EURO” or “the Company”) (Paris: EUR) news release of July 20, 2020 regarding the work stoppage at the Rosebel Gold Mine (“Rosebel”), IAMGOLD Corporation announced on July 24, 2020 that Rosebel started the workforce recall process, with employees and contractors returning to site, and the mill has restarted processing stockpile material.
EURO is a French company whose main assets are a royalty on the Rosebel Gold Mine production in Suriname (the “Rosebel royalty”), a royalty on the Paul Isnard concessions, and marketable securities. The Rosebel Gold Mine is 95%-owned by IAMGOLD Corporation (“IAMGOLD”), and is operated by IAMGOLD. The royalty on the Paul Isnard concessions is a net smelter returns production royalty on future production of the Paul Isnard concessions and an area of interest surrounding the concessions in French Guiana, owned under a joint venture agreement between Orea Mining Corp. (formerly Columbus Gold Corp.) and Nord Gold SE.
EURO has approximately 62.5 million shares outstanding. At June 30, 2020, IAMGOLD France S.A.S. (“IAMGOLD France”), an indirect wholly owned subsidiary of IAMGOLD, owned approximately 89.71% of all issued outstanding shares of EURO. As at June 30, 2020, IAMGOLD France held 56,058,191 shares representing 112,116,382 voting rights or 94.25% of the voting rights of EURO. This threshold crossing results from a double voting rights allocation.
Statements Regarding Forward-Looking Information: Some statements in this news release are forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties. There can be no assurance that future developments affecting the Company will be those anticipated by management.
Not for distribution to United States newswire services or for dissemination in the United States. The securities referred to herein have not been registered under the United States Securities Act of 1933, as amended (the Securities Act), and may not be offered or sold in the United States or to a U.S. person absent registration, or an applicable exemption from the registration requirements of the Securities Act.
Additional information relating to EURO Ressources S.A. is available on SEDAR at www.sedar.com. Further requests for information should be addressed to: