Vancouver, British Columbia, Feb 28 — Spanish Mountain Gold Ltd. (the “Company” or “Spanish Mountain Gold”) (TSX-V: SPA) (FSE: S3Y) (OTCQB: SPAUF) is pleased to announce that it has signed a Memorandum of Understanding (“MoU”) with Metso Canada Inc. (“Metso”), as it moves closer to advancing its Spanish Mountain Gold (“SMG”) project towards feasibility and permitting. The SMG project is located in the Cariboo District corridor in British Columbia, Canada.
President and CEO, Peter Mah stated:
“Spanish Mountain Gold moves ahead with the signing of a MoU with Metso Canada Inc. regarding the collaboration and support for the proposed process plant and tailings dewatering facilities. This collaboration includes trade-off studies as well as support in equipment selection and supply of process solutions. Subject to the execution of definitive agreements, Metso may also provide customary performance commitments for its equipment solutions as SMG advances the project towards feasibility and ultimately a build decision. If SMG selects Metso’s equipment solutions during the anticipated feasibility phase towards a build decision, SMG would be targeting up to $50M of potential Original Equipment Manufacturer (OEM) financing which could be backed by a state export credit agency (ECA) subject to lender approvals and execution of definitive agreements. This marks a key milestone for the company as it prepares for the next stages of development.”
Spanish Mountain Gold’s sustainability strategy, “The Relentless Pursuit for Better Gold” aligns extremely well with Metso’s industry-leading portfolio of equipment and innovative technology under the Metso Plus offering which can viewed in the following link Our Metso Plus offering – Metso.