UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Issuer
Pursuant to Rule
13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of: May 2006
Commission File Number: 0-25672
MIRAMAR MINING CORPORATION |
(Translation of registrants name into English) |
#300 - 889 Harbourside Drive North Vancouver, British Columbia Canada V7P 3S1 |
(Address of principal executive offices) |
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F
Form 20-F | Form 40-F | X |
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes | No |
If Yes is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b) 82
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
MIRAMAR MINING CORPORATION (Registrant) |
By: /s/ A. David Long
A. David Long, Corporate Secretary |
Dated: May 8, 2006
MIRAMAR MINING CORPORATION Suite 300 889 Harbourside Drive, North Vancouver, B.C. V7P 3S1 Canada Tel: (604) 985-2572 Fax: (604) 980-0731 Toll Free: 1-800-663-8780 |
May 8, 2006 | NEWS RELEASE 06-06 | MAE TSX MNG AMEX |
Miramar Minings Annual General Meeting Re-elects Board of Directors
VANCOUVER Miramar Mining Corporation announces that all of managements nominees were re-elected to the board of directors at Miramars Annual General Meeting (AGM) held in Vancouver May 3, 2006. The voted proxies represented 73.61% of the issued and outstanding shares.
During the AGM, Miramar reviewed the highlights of 2005 and looked forward to its objectives for 2006. 2005 was a year of significant developments for Miramar Mining Corporation. On all fronts it was a year of achievement as the Company continued to follow its strategy and grow the potential of its assets and its people.
In 1999 Miramar embarked upon a strategy at the Hope Bay project in Nunavut to develop the belt as an important new gold producing district. The belt provides numerous opportunities at various stages of development from grass roots exploration to near term production opportunities. From an early stage, Miramar elected to take a phased approach to the development of the Hope Bay belt.
Phase one is to begin with the proposed Doris North project. Doris North offers low risk access to significant cash generation with low capital expenditure, and is designed to be the catalyst for the further development of other deposits on the belt. Although the Company had suffered earlier set-backs due to permitting delays, work in 2005 culminated in a positive NIRB recommendation early this year. With the environmental assessment for Doris North under its belt, Miramar has now entered the regulatory phase, and anticipates receiving required licences and permits by the end of 2006. Contingent on receiving all required permits and licences, this would enable construction to begin in 2007 and if all goes well, production to commence in the first half of 2008.
2005 was perhaps the best exploration year for Miramar since its involvement in the Hope Bay project began. The drilling success, particularly at Madrid has enabled Miramar to re-evaluate the deposit with a view to larger scale operations than originally anticipated. With this in mind, resources at Madrid have been recalculated with a lower cut off grade more appropriate to open pit mining. The result is a 2.7 million ounce addition to our resource estimates from 2004. For details on the new resource estimated, please see the news release dated April 20, 2006 on the companys website at www.miramarmining.com
It is planned that while Doris North is being mined, (assuming a positive production decision can be made) work would commence (and has already begun) on phase two of the plan which is to extend the mine life by focusing on the Doris Central, and the upper portions of the Madrid and Boston deposits. Feasibility and economic studies are being undertaken this year to determine the path forward that will provide the most value for our shareholders. Miramar will proceed with either a second phase that targets approximately 350,000 ounces a year, or a much larger operation that would enable production of 700,000 ounces a year. 2006 will definitely be an exciting year as Miramar sets out to prove the
opportunities for large scale mining at Hope Bay, and also, the belts potential to become the next major Canadian mining district.
In order to construct, operate and close the Doris North Project, Miramar will require permits, authorizations and agreements under regulatory processes from various authorities and organizations, including a water licence from the Nunavut Water Board, an Inuit Impact and Benefits Agreement with the Kitikmeot Inuit Association (an agreement in principle is in place), an authorization from the Department of Fisheries and Oceans, an amendment to Schedule 2 of the Metal Mining Effluent Regulations, and various other leases and authorizations.
We have good reason to be pleased with the success Miramar achieved in 2005 as it clearly illustrates the possibilities and potential of our assets and our people, said Miramars President & CEO, Tony Walsh. We are also excited and eager to complete studies by the end of 2006 that would enable us to determine the production path after the proposed Doris North Mine.
All resource and reserve estimates have been prepared by the Miramar Hope Bay Limited staff and directly employed consultants in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by John Wakeford, P. Geo. Vice President, Exploration, for Miramar Mining Corporation, and the qualified person under National Instrument 43-101.
Forward Looking Statements
Statements relating to exploration
work and feasibility and economic studies at the Hope Bay project and the expected results
of this work and alternative development and mining plans and estimates are
forward-looking statements within the meaning of the United States Private Securities
Litigation Reform Act of 1995. Forward looking statements are statements that are not
historical facts and are generally, but not always, identified by the words
expects, plans, anticipates, believes,
seeks, intends, estimates, projects,
satisfies, potential, goal, objective,
prospective, and similar expressions, or that events or conditions
will, would, might, may, can,
could or should occur. Information inferred from the
interpretation of drilling results and information concerning mineral resource estimates
may also be deemed to be forward looking statements, as it constitutes a prediction of
what might be found to be present when and if a project is actually developed. These
forward-looking statements are subject to a variety of risks and uncertainties which could
cause actual events or results to differ materially from those reflected in the
forward-looking statements, including, without limitation: risks related to fluctuations
in gold prices and currency exchange rates; uncertainties related to raising sufficient
financing to fund the planned work in a timely manner and on acceptable terms; changes in
planned work resulting from weather, logistical, technical or other factors; the
possibility that results of work will not fulfill expectations and realize the perceived
potential of the Companys properties; uncertainties involved in the interpretation
of drilling results and other tests and the estimation of gold reserves and resources; the
possibility that required permits may not be obtained on a timely manner or at all; the
possibility that capital and operating costs may be higher than currently estimated and
may preclude commercial development or render operations uneconomic; risk of accidents,
equipment breakdowns and labour disputes or other unanticipated difficulties or
interruptions; the possibility of cost overruns or unanticipated expenses in the work
program; the risk of environmental contamination or damage resulting from Miramars
operations and other risks and uncertainties, including those described in the
Miramars Annual Report on Form 40-F for the year ended December 31, 2005 and Reports
on Form 6-K filed with the Securities and Exchange Commission.
Forward-looking statements are based on the beliefs, estimates and opinions of Miramars management on the date the statements are made. Miramar undertakes no obligation to update these forward-looking statements if managements beliefs, estimates or opinions, or other factors, should change.
This news release has been authorized by the undersigned on behalf of Miramar Mining Corporation.
For further
information contact:
Anthony P. Walsh
President & CEO
Miramar Mining Corporation
Tel: (604) 985-2572
Fax: (604) 980-0731
Toll Free: 1-800-663-8780
Email: info@miramarmining.com