Important Notice

The information on this website should be read in conjunction with the Gabriel Resources news release dated January 20, 2015 which addresses the dispute with Romania regarding the development of the Roşia Montană gold and silver project and the subsequent news release dated July 21, 2015 which announces that Gabriel Resources has filed a Request for Arbitration before the World Bank's International Centre for Settlement of Investment Disputes ("ICSID") against Romania pursuant to the agreements between the Government of Romania and each of the Government of Canada and the Government of the United Kingdom of Great Britain and Northern Ireland for the Promotion and Reciprocal Protection of Investments (the "ICSID Arbitration" or "Arbitration"). On January 10, 2017 a timeline for the Arbitration was issued by the Tribunal. To access this timeline and for updates on the Arbitration, please click here

Since 1997, the Company’s principal focus has been the exploration and development of the Project, one of the largest undeveloped gold deposits in Europe, to operational status. More recently, the ICSID Arbitration has now become the core focus of the Company.

 

The information set out below and elsewhere in this website relating to the Roşia Montană Project, the Exploitation License, the Company’s exploration and development activities in Romania, the Project approval and permitting process and reported gold and silver resources and reserves is for background purposes only and should not be interpreted as being indicative of the Company’s current expectations regarding the future development of the Roşia Montană Project.

 

The Rosia Montana region of Romania has been characterized by economic decline and environmental degradation. Gabriel has been committed to building a new state-of-the-art mining facility to reinvigorate the local and wider economy and to provide an economic basis for sustainable development for the whole area for decades to come.

The proposed development has Measured and Indicated Resources of 17.1 million ounces of gold and 81.1 million ounces of silver (513 million tonnes at average grades of 1.04g/t gold and 5g/t silver), including Proven and Probable Reserves of 10.1 million ounces gold and 47.6 million ounces of silver (215 million tonnes at average grades of 1.46g/t gold and 6.88g/t silver) - see Mineral Reserves & Resources.

Gabriel's efforts have been fully directed towards the successful conclusion of the permitting phase of the Project including the receipt of all environmental and other permitting approvals required for the development to proceed to construction.

In addition, Gabriel has conducted significant exploration work defining mineral deposits at the Rodu-Frasin (epithermal gold and silver) and Tarniţa (porphyry copper-gold) sites within the Bucium area located in the vicinity of Roşia Montană (the “Bucium Projects”).

 

Map of Romania