PolyMet EIS Update
Hoyt Lakes, Minnesota, October 26, 2009 – PolyMet Mining Corp. (TSX: POM; NYSE AMEX: PLM) (PolyMet or the Company) reported the following announcement by the Minnesota Department of Natural Resources during the evening of October 23rd:
Two of the three volumes of the 1,800-page document are complete and ready to post. Volume I will be finalized early during the first part of the week of October 26. We will then post all three volumes on this site.
This posting is in advance of the projected Nov. 2 publication of the DEIS (Draft Environmental Impact Statement) in the Environmental Quality Board Monitor, which signals the start of the state public comment period on the project.
The USACE (United States Army Corps of Engineers) is the lead federal agency for the DEIS. They will publish their own public notice in the Federal Register on Nov. 6.
The draft EIS will be posted on the following site:
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PolyMet Mining Corp. (www.polymetmining.com) is a publicly-traded mine development company that controls 100% of the NorthMet copper-nickel-precious metals ore body through a long-term lease and owns 100% of the Erie Plant, a large processing facility located approximately six miles from the ore body in the established mining district of the Mesabi Range in northeastern Minnesota. PolyMet Mining Corp. has completed its Definitive Feasibility Study and is seeking environmental and operating permits to enable it to commence production. The NorthMet project is expected to require approximately one million man hours of construction labor and create at least 400 long-term jobs, a level of activity that will have a significant multiplier effect in the local economy.
POLYMET MINING CORP.
Per: Joe Scipioni
Joe Scipioni, President
For further information, please contact:
Chief Financial Officer
+1 (646) 879-5970
VP Public, Governmental and Environmental Affairs
+1 (218) 225-4417
KCSA Strategic Communications
+1 (212) 896-1273
This news release contains certain forward-looking statements concerning anticipated developments in PolyMet’s operations in the future. Forward-looking statements are frequently, but not always, identified by words such as expects, anticipates, believes, intends, estimates, potential, possible, and similar expressions, or statements that events, conditions or results will, may, could, or should occur or be achieved. These forward-looking statements may include statements regarding exploration results and budgets, reserve estimates, mineral resource estimates, work programs, capital expenditures, timelines including timelines for third-party studies and issuance of permits to operate by various government agencies, strategic plans, the market price of metals, costs, or other statements that are not a statement of fact. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements due to a variety of risks, uncertainties and other factors. PolyMet’s forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and PolyMet does not assume any obligation to update forward-looking statements if circumstances or managements beliefs, expectations and opinions should change.
Specific reference is made to PolyMet’s most recent Form 20-F/Annual Information Form on file with the SEC and Canadian securities authorities for a discussion of some of the risk factors and other considerations underlying forward-looking statements.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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