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Rogue Announces Permit Delay at Silicon Ridge

by pmnationtalk on August 11, 201724 Views

August 10, 2017

  • Informed by the Ministère des Forêts, de la Faune et des Parcs (“MFFP”) that the initial permit will take “additional analysis” and that such analysis is expected to be completed in Spring 2018
  • This delay will result in a postponement of the Company making a Development Decision in 2017
  • Rogue will re-assess and re-prioritize opportunities across its portfolio and externally

TORONTO, ON – Rogue Resources Inc. (TSX-V: RRS) (“Rogue” or the “Company”) is disappointed to announce a delay in advancing its 100% owned Silicon Ridge Project (“Project”), located approximately 42 kilometres (“km”) north of Baie-Saint Paul, Québec, and 4 km northeast of Sitec’s operating silica mine.

The Silicon Ridge Project continues to represent an opportunity for the development of a quarrying operation with limited environmental impacts, operating within an area that currently supports active quarrying operations co-existing with the local wildlife. The Company has designed its project to minimize the impacts on the wildlife and other stakeholders within the region.

The Company submitted the application for the bail d’exploitation minière permit (“BEX”) in the form and content as described in Quebec’s Mining Act for its Silicon Ridge Project. Based upon communications with the representatives of the MERN, Rogue has provided all of the required information for the Ministry to complete the application process except for the requirement that the MFFP provides its decision on the Section 128.7 Authorization.

Rogue has also submitted the application for the Certificate of Authorization (“CofA”) with Ministère de Développement durable, de l’Environnement et de la Lutte contre les changements climatiques (“MDDELCC”) and based on communications with representatives of the MDDELCC, the Company has provided all of the required information for the Ministry to complete the application process except for the MFFP’s Section 128.7 Authorization and the BEX from the MERN.

In this regard, the Company has made numerous requests to the MFFP, including email and meeting requests, for an estimate of when the decision on the Section 128.7 application will be reached and asked if any additional information was required to finalize a decision. Prior to the notification provided by the MFFP this week, there were no substantive communications from the MFFP and the Company continued to be impacted by the lack of clarity on the timing for potential sales contract negotiations and a development decision for the project.

In a meeting today, the MFFP explained that a decision on the Section 128.7 application will not be made until a policy study forming part of the Province-wide action plan for the development of forest-dwelling caribou habitat is completed in Spring of 2018.

“This was very surprising and a deeply disappointing message from the MFFP today. We have previously met with them

on multiple occasions and this was never mentioned as a possibility. Silicon Ridge remains a very promising project and we expect it to be a profitable operation but now the Company will need to assess our near-term options as we will not be able to deliver on the 2017 Plan as outlined. Despite this surprising delay, the Company will continue to engage with potential buyers and attempt to arrange financing with a view to target 2018 production following receipt of all required permits and approvals,” said Sean Samson, President and CEO of Rogue. “We are currently prioritizing our existing property portfolio and external opportunities and will provide an update on a work plan as it is developed”.

About Rogue Resources Inc.

Rogue is a mining company focused on generating positive cash flow. Not tied to any metal, it looks at rock value and good grade deposits that can withstand all stages of the metal price cycle. The current focus is Québec ‘s Silicon Ridge Project. For more information visit www.rogueresources.ca

Qualified Person

The Silicon Ridge Project is under the direct supervision of Paul Davis, P.Geo., VP, Technical and Director of the Company and a QP as defined by National Instrument 43-101. The QP has approved the scientific and technical content of this release.

On Behalf of Rogue Resources Inc.

Sean Samson
President & CEO, Director

For additional information regarding this news release please contact:

Sean Samson
sean@rogueresources.ca

NT4

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