(TheNewswire)
August 11, 2021 – TheNewswire - Toronto, ON – Otso Gold Corp.(“ Otso ” or the “ Company ”), (TSXV:OTSO) (OTC:FIEIF) is pleased to announce theexecution today of its mining contract (the ‘Agreement’) with EHartikainen Oy. (‘Hartikainen’). The Agreement is for theprovision of all mining services at the Otso Gold Mine for a term of 3years. Machinery for mining has begun to be mobilized to site inadvance of the start of mining next month.
Brian Wesson stated “The Company is pleased to havepartnered with Hartikainen at the Otso Gold Mine and looks forward toworking together. The execution of the mining contract is an importantmilestone towards the start of production next month”.
Arto Hartikainen, managing director of Hartikainenstated “We are very happy with Otso Gold Mine’s partnership and weare starting preparation work right away. Safety, quality andproductivity will play a key role in the development of our servicesat the Otso Gold Mine’.
About Hartikainen
Hartikainen is one of Finland'slargest mining and construction contractors and employs over 460people around locations in Finland. 50 Decades of experience incontracting and trust in the Company's operations have enabled theCompany to get significant projects at national level. Skilledpersonnel, strong- and robust equipment and reliable partnerships arethe key to the success of the Company. E. Hartikainen Oy operates inFinnish mines where production is running 24/7/365 with over 250devices.
E. Hartikainen Oy is known for theCompany’s high quality and efficient operations optimizingcustomer's production and productivity in safe manner.
“Brian Wesson”
President and CEO
Otso Gold Corp.
For furtherinformation, please contact:
Clyde Wesson
Vice President
1 917 287-0716
info@otsogold.com
www.otsogold.com
The technical disclosure in this news release has beenreviewed and approved by Gregory B. Sparks P.Eng a Qualified Person asdefined by National Instrument 43-101.
Caution
The Company cautions that it has notdefined or delineated any proven or probable reserves for the OtsoMine Project and mineralization estimates may therefore requireadjustment or downward revision based upon further exploration ordevelopment work or actual production experience. Mineral resourcesthat are not mineral reserves do not have demonstrated economicviability.
The Company also cautions that thedecision by the Company to proceed to develop the Osto Mine Projectand extract mineralization proceeded without the Company firstestablishing reserves supported by a technical report and completing apre-feasibility or feasibility study. Accordingly, there is a higherrisk of technical and economic failure at Osto because developmentproceeded without first establishing reserves supported by a technicalreport and completing a feasibility study. This is particularlyrelevant as the Company has proceeded with development at Osto onindicated and inferred resources without first completing apreliminary economic report.
About the Company
Otso Gold Corp. wholly owns the Otso Gold Mine near thetown of Raahe in Finland. The
Otso Gold Mine is fully built, fully permitted, has allinfrastructure in place, two open pits
and is progressing towards a restart at 2 milliontonnes per annum throughput.
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
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