Atlantic Gold to advance Touquoy Gold project in Nova Scotia

2 March 2014 (Last Updated March 2nd, 2014 18:30)

Australian gold exploration company Atlantic Gold has announced that the leave to appeal by Forrest Higgins, Jr was dismissed by the Supreme Court of Canada.

Australian gold exploration company Atlantic Gold has announced that the leave to appeal by Forrest Higgins, Jr was dismissed by the Supreme Court of Canada.

Higgins was the former landowner of the last of 63 private properties required for development of the Touquoy Gold Project in Nova Scotia.

The project is located in central Nova Scotia, just over an hour away from Halifax by a sealed road.

"Higgins has no further legal avenues to pursue the overturn of the vesting order."

Higgins has challenged the vesting order issued by the Nova Scotia Minister of Natural Resources, dated 12 June 2012.

The order represents one of the final major requirements for the company to achieve prior to project financing and development, in order to take the project into production.

Higgins has appealed the order twice, but was successively dismissed, first by the Nova Scotia Supreme Court and then the Nova Scotia Court of Appeal.

A three-judge panel of the Supreme Court of Canada noted that Higgins has no further legal avenues to pursue the overturn of the vesting order, to merit any further appeal proceedings.

Following the dismissal of this application, Atlantic Gold can now commence project financing and development to take the project into production.

In February 2008, the company's wholly-owned subsidiary DDV Gold received environmental approval for its Touquoy Gold project in Nova Scotia, Canada, while mining Lease ML-11-1 was granted in August 2011 by the Nova Scotia Department of Natural Resources.

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