Euro Sun Mining Announces Appointment of New Director and Update to Critical Raw Materials Act Application

TORONTO, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Euro Sun Mining Inc., (TSX: ESM) (“Euro Sun” or the “Company”) announces that it has appointed Carlo LiVolsi as an independent director of the board of director of the Company (the “Board”). Furthermore, Mr. LiVolsi will replace Mr. Neil Said as Chairman of the Board, with Mr. Said remaining as an independent director.

Mr. LiVolsi was formerly a director of Apollo Healthcare Corp. (“Apollo”), previously listed on the Toronto Stock Exchange (“TSX”). In this role, Mr. LiVolsi sat on the audit committee and represented Apollo in connection with the successful acquisition of Apollo by Anjac SAS.

Critical Raw Materials Act Application

Further to the press release of the Company dated July 26, 2024, the Company is pleased to announce that the European Commission has reviewed the Company’s application (the “Application”) for the Rovina Valley Project to be granted the status of a “Strategic Project” under the European Critical Raw Materials Act and has considered that the Application is complete. As a next step, the European Commission will now assess the Application, including transmitting the Application to the Government of Romania for review.

Commenting on the Application, Mr. Sboros, Chief Executive Officer of the Company, said “We are delighted that our efforts over the past few months on the Application has resulted in the Application accepted as full and complete by the European Commission at the outset. This efficient progress is a reflection of the Company’s dedication to bringing the Rovina Valley Project closer to construction. We look forward to working with the European Commission and the Government of Romania to have the Rovina Valley Project contribute to the strategic supply of minerals to the European Union.”

About Euro Sun Mining Inc.

Euro Sun is a Toronto Stock Exchange listed mining company focused on the exploration and development of its 100%-owned Rovina Valley gold and copper project located in west-central Romania, which hosts the second largest gold deposit in Europe.

The Project supports a circular economy by unlocking much needed investment and job creation in Hunedoara County and, delivers critical minerals necessary for Europe’s green energy transition. The Project adopts the latest in modern mining environmental methodology and uses no cyanide or wet tailings in processes.

Further information:

For further information about Euro Sun Mining, or the contents of this press release, please contact Investor Relations at info@eurosunmining.com

Caution regarding forward-looking information:

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the appointment of directors; the Application, the designation of the Project as a strategic project within the Act; changes to existing mining legislation in Romania and development of the Project. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR+ at www.sedarplus.ca  and on the Company's website at www.eurosunmining.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

The TSX does not accept responsibility for the adequacy or accuracy of this news release.