CORPORATE NEWS

Avellana Gold Got a Withdrawn License for Polymetal Mining Back Avellana Gold Got a Withdrawn License for Polymetal Mining Back
The General Prosecutor Office has returned to Avellana Gold a special permit for polymetal mining at Muzhievo deposit owned by an American investor, as well as confidential geological information about the deposit. "The General Prosecutor Office reacted very quickly to our appeal to intervene in the problem. October 20, we have faced an incomprehensible situation, when for some unknown reason masked people seized the special permit for the exploration of Muzhievo polymetal deposit. Thanks to the operational intervention of the Prosecutor General Yuriy Lutsenko and his first Deputy Dmytro Storozhuk, the withdrawn license was returned to us in a few days. We are convinced that Ukraine adheres to the rule of law,” Andrii Smolin, Head of Ukrainian Representative Office of Avellana Gold, said. It should be reminded that recently the masked law enforcement people conducted a search at the office of Carpathian Mining Company, which was previously bought out by the American company Avellana Gold Ltd. On site, the Company employees were told that it was a search conducted by the Prosecutor General's Office as part of criminal proceedings against the previous owners of Carpathian Mining Company. The masked law enforcement people seized a notebook with unique confidential information on the deposit and a special permit for the exploration of Muzhievo polymetal deposit, which belong to American investor Avellana Gold. As of today the Company has designed a polymetal mining project for the region in which it plans to invest 100$ mln. It has obtained all approvals for running the business.