15 October 2018
TMAC Resources Inc. announces that the Honourable Caroline Bennett, Minister of Crown Indigenous Relations and the Honourable Dominic LeBlanc, Minister of Intergovernmental and Northern Affairs and Internal Trade have accepted the positive recommendation of the Nunavut Impact Review Board allowing the NIRB to finalize and issue a Project Certificate for TMAC’s proposed Madrid-Boston Project. TMAC now looks forward to attending the Nunavut Water Board (“NWB”) Final Hearing later this month in Cambridge Bay. This hearing will focus on the water use, infrastructure and tailings deposition requirements to be included in the amended Doris Type A Water Licence and a new Type A Water Licence for construction and operations at the Madrid and Boston mines. TMAC expects that the NIRB will issue a new Project Certificate before the end of the year and that the amended and new Type A Water Licences will be received from the NWB in the spring of 2019.
The Madrid-Boston Project, as defined for permitting, includes the construction of all required surface infrastructure for the three additional currently identified gold deposits at Hope Bay: Madrid North, Madrid South and Boston. The capacity of the currently permitted tailings impoundment area at the Doris site will increase from 2.5 million tonnes to 18 million tonnes. At Boston, a new tailings management area will be permitted with a capacity of 5.1 million tonnes.