GOLDEN, Colo., July 27, 2004 Read all today’s legal news and law announcements in LAWFUEL
– Canyon Resources
Corporation (Amex: CAU), a Colorado-based mining company, passes along
information relating to I-147 in Montana. I-147 is an initiative which has
qualified for the November 2004 ballot which, if passed by the voters, would
allow usage of cyanide processing in new gold and silver mines within Montana
with certain specific engineering practices and environmental safeguards.
On July 23, 2004, the Montana Environmental Information Center (MEIC) and
a local Montana rancher filed a petition with the Montana Supreme Court
requesting that it prevent I-147 from appearing on the November ballot. The
motion alleges that I-147 is unconstitutional because it contains more than
one subject and would illegally change contract rights. The defendants in the
lawsuit are the Attorney General and Secretary of State of Montana.
Tammy Johnson, Campaign Chair of the I-147 campaign (Miners, Merchants and
Montanans for Jobs and Economic Opportunity, FOR 147), has responded to the
lawsuit with the following statement:
“We are certainly not surprised by this action. MEIC is well known for
its frivolous lawsuits, both in and out of campaigns and, quite frankly, we
didn’t expect this campaign to be any different. We have taken great care to
insure that we are in full compliance with all legal aspects of Montana laws
governing initiatives and are confident that the wording of I-147 will hold up
to legal scrutiny.”
Moreover, Montana statute requires that any legal challenges to initiative
issues be initially addressed at the Montana State District Court, not the
Montana Supreme Court.
“Canyon Resources anticipates that MEIC will do everything it can to cloud
the issue of the economic benefits and merits of I-147 with the voters prior
to the November ballot. Canyon will keep its shareholders and the marketplace
informed of local actions related to the I-147 campaign as they occur,” said
Richard H. De Voto, President.
Actual results may differ materially from any forward-looking statement
whether expressed or implied in this news release. The following risks and
uncertainties which could cause actual results to vary include, but are not
limited to: speculative nature of mineral exploration, precious metals
prices, production and reserve estimates, production costs, cash flows,
environmental and governmental regulations, availability of financing,
judicial proceedings and force majeure events. Most of these factors are
beyond the Company’s ability to control or predict.