MINAE Reconfirms Vannessa's Exploitation Concession
Trading Symbol: TSXV: VVV CALGARY, April 24 /PRNewswire-FirstCall/ -- Industrias Infinito S.A. ("Infinito"), a wholly owned subsidiary of Vannessa Ventures Ltd. (the "Company"), has received an official news release from MINAE dated April 23, 2008 that states the Government of the Republic of Costa Rica authorizes the exploitation of the Crucitas concession as environmental, social and economic feasibility has been demonstrated. This follows the Company's announcement of April 16, 2008 where it was reported that the minister in charge of MINAE had indicated to the local media that the Crucitas project would be approved soon. This authorization, together with the approval of the EIS, represents the final major approvals required by the Company in order to advance the development of the Crucitas gold project.
In a newspaper article in La Nacion, published on April 24, 2008, it was announced that MINAE had lifted the moratorium on open pit gold mining in the country which has been in place since 2002. The moratorium did not apply to the Crucitas exploitation concession but the removal is a positive action that will increase the potential of the more than 18,000 hectares of exploration concessions held by Infinito adjacent to the Crucitas project area. Caution Regarding Forward-Looking Information and Statements
Certain statements in this press release address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. These factors include, among others, the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future, the possibility that all necessary governmental and regulatory approvals will not be received, and the availability of a qualified workforce and third party contractors necessary for the development and operation of a mine. The Company undertakes no obligation to update these forward-looking information or statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking information or statements. John Morgan, President "The TSX Venture Exchange does not accept responsibility for the adequacy
CONTACT: VANNESSA VENTURES LTD., 220, 1010 - 1St S.W., Calgary, Alberta,
2008-04-24 18:47:37 0345061 PRNEWSWIRE
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