Permitting Update

April 25, 2019

Bluebird Merchant Ventures (EPIC: BMV), the Korean focused gold development group, is pleased to announce an update on the permitting process for reopening the Gubong and Kochang gold mines.  

Further to the previous announcement on 9 April 2019, the Joint Venture Company has now submitted a reply to the Provincial Government who had requested clarification and additional information, mostly of a technical nature, to support the Gubong application. One of the requests was regarding our relationships with the community going forward. The Company provided its anticipated Community Development Programme and also a letter, signed by a number of the local residents, supporting the reopening of the mine. The Company expects that the response will enable the application to reopen the mine to progress and reach a successful conclusion.

The Company announced on 12 March 2019 the application for the permit to develop the Kochang Mine was made on 8 March 2019.  The Kochang application has progressed faster than expected and the request for additional information was minimal. The Joint Venture Company has now submitted the response and expects the application to reach a successful conclusion. In addition to the response, the Company is pleased to note that the County authorities, whose opinion is sought by the relevant Province, wished the Company well in its endeavours to bring the industry back to the county.

Colin Patterson, CEO, commented:

“As previously stated, in four decades of working in the mining industry, I have never seen such efficiency with regard to permit application processing as we are experiencing with the South Korean authorities.  This bodes very well for Bluebird as we advance towards gold production.”