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NLIS 5
June 29, 2006
(Natural Resources)
 

Call for proposals issued for Stog�er Tight property  

Acting Natural Resources Minister John Ottenheimer today announced a call for proposals for the exploration and development of the Stog�er Tight property on the Baie Verte Peninsula .  

�The Stog�er Tight property represents significant opportunity for a gold project on the Baie Verte Peninsula ,� Minister Ottenheimer said. �This property has been leased for a number of years with no development. By canceling the existing lease earlier this year and issuing a call for proposals at this time, we are attempting to fast-track development of the resource by a company interested in advancing the property in the short term.�  

Government issued a mining lease for part of the known gold mineralization in the Stog�er Tight area in 1996, however, very little mining activity has taken place since that time. In March, government exercised its right to establish the property as exempt mineral land under the Mineral Act, which allows government to now issue a call for proposals to attract a company prepared to conduct more advanced activity at the site.  

�The property contains a known resource and a fair amount of exploration work has already been done on the property,� the minister said. �We are putting out a call to attract the best proposal for the exploration and development of the site by a company that is prepared to take the already identified resources to the next level. It will hopefully result in this property being put into production and generating much needed employment and business opportunities in the area.�  

The original mining lease was cancelled because the leasee failed to maintain production and pay annual rentals, as required by the conditions of the mining lease. The cancellation of a mineral lease is standard in the absence of activity in order to make the property available to another party.  

Paul Shelly, MHA for Baie Verte, welcomed the call for proposals. �I look forward to having the Stog�er Tight property explored and developed,� said Minister Shelley. �This is an exciting opportunity that will benefit the people of my district and our rural economy. This prospect adds to the significant momentum already underway in the Baie Verte mining community."  

The Mineral Development Division of the department has developed a comprehensive document detailing the site as part of the call for proposals. The information package and terms of reference for proposals is available at www.gov.nl.ca/mines&en/cfp/stogertight.pdf

The closing date for receipt of proposals is September 1, 2006 .  

Media contact: Tracy Barron, Communications, (709) 729-5282, 690-1703  

2006 06 29                                                        2:00 p.m.


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