Crown Resources Announces Conference Committee Votes for Provision to Approve Plan of Operations and Reinstate Record of Decision for Crown Jewel Project.DENVER--(BUSINESS WIRE)--May 13, 1999-- Crown Resources Corporation today said that the United States House/Senate Appropriations Conference Committee has voted to overturn the previously announced decision of the Departments of the Interior and Agriculture, which denied the Plan of Operations and revoked the Record of Decision for the Crown Jewel Crown jewel A particularly profitable or otherwise particularly valuable corporate unit or asset of a firm. Often used in risk arbitrage. The most desirable entities within a diversified corporation as measured by asset value, earning power, and business prospects; in takeover project. The provision voted upon, which would mandate the approval of the Plan of Operations and reinstatement of the Record of Decision, is part of the Supplemental Appropriations Bill. In order to become law, the Bill would have to be passed by the United States House and Senate and be signed by the President. Crown's President Christopher E. Herald re-affirms the comments of Mr. Ian D. Bayer, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Battle Mountain Gold, Crown's joint venture partner, who stated: "This was not an environmental issue, it was an issue of fairness. We are thankful to those in Congress who had the courage to address the injustice represented by the denial and the misinformation mis·in·form tr.v. mis·in·formed, mis·in·form·ing, mis·in·forms To provide with incorrect information. mis campaign waged by opponents of economic development. This provision, if enacted, will allow the project to move forward in accordance with the law upon which the Company has relied. It is not a change in the law." Mr. Bayer went on to state that, "Battle Mountain intends to build the Crown Jewel mine and looks forward to prompt action on the Bill." Crown is a U.S. domiciled gold exploration company with properties in the U.S. and Mexico and a 57%-equity interest in Solitario Resources Corporation (SLR-Toronto Stock Exchange). Crown is traded on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on National Market System under the trading symbol CRRS CRRS Comprehensive Records Retention Schedule CRRS Combat Readiness Reporting System CRRS Comprehensive Risk Reduction Specialist and the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol CRO. The United States Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 provides a "safe harbor" for certain forward-looking statements. Operating, exploration and financial data, and other statements in this document, are based on information that the Company believes reasonable, but involve significant uncertainties as to future gold prices, costs, ore grades, mining and processing conditions, and regulatory and permitting matters. Actual results and timetables could vary significantly from the estimates presented. Also refer to the cautionary statement contained in the Company's Form 10-K and 10-Q for the most recent reporting periods. |
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