Tuesday February 22, 1:00 pm ET
A large contingent of community officials, business leaders and citizens from the city of Libby and Lincoln County traveled six hours by bus on Tuesday morning to present resolutions unanimously passed by the Libby City Council and Lincoln County Commission requesting the Governor and the state legislature to support acceleration of the project's re-permitting process.
| In a statement to the group, Governor Schweitzer
said, “What I can say to you is that I have been a supporter of this
project before I was elected and after I was elected. I like this orebody.
We’re going to do what we can to help you get this project off the
ground.” The Governor went on to say, “I am a governor who
would like to see Natural Resources prosper in Montana. I’ve made
my living in the natural resources, I understand the natural resources,
I understand how important it is to get Montana’s economy moving
on all levels.” In the Governor's recent state of the State address, he emphasized, "It is time to say that Montana is open for business. This means keeping taxes low, growing existing businesses, and marketing Montana to the world." Mines Management's President and CEO, Glenn M. Dobbs, stated, "We have been assured of the Governor's support not only for development of the Montanore Project, but also his desire to encourage business within the state of Montana. This public expression of support for the Montanore illustrates his recognition that the working people of Montana are the foundation of a healthy state, and that he is committed to taking tangible steps toward attracting business into the region. We believe his support also illustrates his understanding of the benign nature of the Montanore Mine and its impact on the environment." |
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When in production, the project is scheduled to employ 250-300 people with an annual payroll of more than $10 million, and a mine life of approximately twenty years. Lincoln County, a rural community in northwest Montana with a population of 18,000, has one of the highest unemployment rates in the nation, which exceeds 15%, due to the loss of its logging and mining industries.
Mines Management, Inc. is a U.S. based mineral development company focused on the exploration and development of silver dominant deposits. The 2002 acquisition of the Montanore silver-copper project, reported by previous operators to contain 135 million tons of mineralized material with an average grade of 1.9 ounces silver per ton and 0.75% copper, is considered one of the largest silver deposits in the world.
This release contains certain forward-looking statements within the meaning of the Federal Securities Laws. Such statements are based on assumptions that the Company believes are reasonable but which are subject to a wide range of uncertainties and business risks. Factors that could cause actual results to differ from those anticipated are discussed in the Company's periodic filings with the Securities and Exchange Commission, including its annual report on Form 10-KSB for the year ended December 31, 2003.
Further information about Mines Management, Inc. can be reviewed
on the website for the Securities and Exchange Commission at
www.sec.gov or on the company's website at www.minesmanagement.com.
Contact:
Douglas Dobbs
Director, Corporate Development & Investor Relations
Mines Management, Inc. Douglas Dobbs, 509/838-6050 fax: 509/838-0486 email: info@minesmanagement.com website: www.minesmanagement.com
Source: Mines Management, Inc.