Theta Gold Mines Limited Stock Market Press Releases and Company Profile
Permitting Update - TGME Underground Gold Project
Permitting Update - TGME Underground Gold Project

Sydney, July 18, 2022 AEST (ABN Newswire) - Theta Gold Mines Limited (ASX:TGM) (3LM:FRA) (TGMGF:OTCMKTS) is pleased to advise that the final Environmental Impact Assessment Report and Environmental Management Programme (EIA/EMPr) have been submitted to the Department of Mineral Resources and Energy (DMRE) and the final technical documents for the integrated water use license application to the Department of Water and Sanitation (DWS) for final decision.

The outcome of the decisions from the DMRE and DWS on the applications are expected in Q4 of 2022 with an additional 90-day review and objection period. A positive decision from the Competent Authorities will enable the Company to commence with its MR83 underground project.

Over 20 studies have been completed as part of the EIA process (see Appendix 1 below for a list of studies). The findings from the EIA/EMPr and specialist studies have not identified any fatal flaw, unaddressed objection, or significantly high impact ratings.

The requisite mitigation measures are all imminently feasible and this should give all interested and affected parties the confidence that the impacts of our proposed activities will not threaten the environment.

A comprehensive stakeholder engagement process was undertaken before the submission of the applications. A very successful open day was held in Pilgrims Rest on 28 May 2022. Feedback from the open day was very positive and the community is very excited about the job opportunities and economic upliftment that will be created by the project. With the good turnout at the open day and various other stakeholder meetings it can be concluded that the procedural requirement to consult during the EIA phase is satisfied. (Refer to Appendix 2* photo records of stakeholder engagement).

An application for an Atmospheric Emissions License was also submitted to the Department of Forestry, Fisheries and the Environment during June 2022. The application is currently available for public comments for a 30-day period that will end on 10 August 2022. A final decision on the application is expected by the end of Q3 of 2022. This license will allow the operation of the processing plant. (Appendix 4* contains an advertisement placed to notify stakeholders of the application).

Chairman Mr. Bill Guy commented: "We are now entering the final phase of the EA permitting process, with strong community support. All workstreams have been completed and final documentation delivered to DMRE so that a decision about the resumption of mining on MR83 can be made."

"Theta has received many letters of support from Interested and affected parties (Ehlanzeni District Municipality, Mpumalanga Department of Co-operative Governance and Traditional Affairs and Local Ward Councillors). The local community and landowners have a direct project interest under the BEE structure."

"We also confirm that a decision from the DFFE about continued mining under Forrest Reserve is expected in Q3 of 2022 (see ASX release 25 October 2021 "TGME PROJECT PERMITTING UPDATE" Affecting the Beta and CDM mines). The company offered to include the ecological compensation into our growing ESG program, which will positively affect the local catchment area for years to come. Our decision to cornerstone this investment and work with stakeholders and the DFFE is set to benefit future generations in the region".

*To view full details, tables and figures, please visit:

About Theta Gold Mines Limited

Theta GoldMines Ltd

Theta Gold Mines Limited (ASX:TGM) (OTCMKTS:TGMGF)  is a gold development company that holds a range of prospective gold assets in a world-renowned South African gold mining region.  These assets include several surface and near-surface high-grade gold projects which provide cost advantages relative to other gold producers in the region.

Theta Gold Mines core project is located next to the historical gold mining town of Pilgrim's Rest, in Mpumalanga Province, some 370km northeast of Johannesburg by road or 95km north of Nelspruit (Capital City of Mpumalanga Province).  Following small scale production from 2011-2015, the Company is currently focussing on the construction of a new gold processing plant within its approved footprint at the TGME plant, and for the processing of the Theta Open Pit oxide gold ore. Nearby surface and underground mines and prospects are expected to be further evaluated in the future.

The Company aims to build a solid production platform to over 100Kozpa based primarily around shallow, open-cut or adit-entry hard rock mining sources.  Theta Gold Mines has access to over 43 historical mines and prospect areas that can be accessed and explored, with over 6.7Moz of historical production recorded.



Bill Guy, Chairman
Theta Gold Mines Limited
T: + 61 2 8046 7584

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