|By Marketwired .||
|January 29, 2013 06:01 AM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/29/13 -- Astur Gold Corp. (TSX VENTURE:AST)(FRANKFURT:CDC) ("Astur Gold" or the "Company") is pleased to announce that the Company has signed a Letter of Intent ("LOI") with Isolux Corsan ("Isolux") to construct a 2200 meter long development decline for the planned underground mine at the Salave Gold Project.
"Isolux is one of Spain's top contractors and we are excited to work with them on construction of the decline, which was recently approved by the Commission for Environmental Affairs of the Principality of Asturias," stated Astur Gold President & CEO Cary Pinkowski. "The Company is moving to provide additional information to the Principality to complete the environmental permitting."
The LOI mandates Isoluxto excavate a 5x5 meter tunnel 2200 meters long according to specifications supplied by the Company in a bid package. Isolux submitted the most complete competitive bid and projected timeline. Astur Gold requires Isolux to hire local qualified personnel wherever possible.
ABOUT ISOLUX CORSAN
Isolux Corsan is a global standard bearer in the areas of concessions, energy, construction, tunneling, and industrial services, with a track record spanning over 80 years of professional activity with operations in 30 countries on four continents. The company is currently developing 9 high speed train tunnels (some over 8km long) in Spain for with a total length of 25km and subway tunnels in Brazil. A leader in the sector of high-voltage power transmission, it has over 5,533km of lines under concession in India, Brazil and the USA. It constructs and manages 1,610km of toll roads under concession agreements in four countries (Spain, India, Brazil and Mexico). The Group activities are driven by a determined commitment to sustainability and the goal of creating value in the environments in which it operates.
ABOUT ASTUR GOLD
Astur Gold is developing its 100% owned Salave Gold Project in Asturias, northern Spain, which is one of the largest undeveloped gold deposits in Western Europe. The Company recently received approval for an underground mine from the Commission for Environmental Affairs of the Principality of Asturias in November 2012, and plans to move towards production at Salave as soon as possible. Astur Gold is working to build a partnership with the people of Asturias to generate sustainable economic benefits for the region while balancing the needs of environmental protection and social community development.
ON BEHALF OF THE BOARD
Cary Pinkowski, Chief Executive Officer, President and Director
Mineral resources that are not mineral reserves do not have demonstrated economic viability. This document contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectation implied by these forward looking statements.
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.
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