TVX Gold Inc. - Stratoni Permit Decision By February 15, 2002.

Business Editors

TORONTO--(BUSINESS WIRE)--Feb. 7, 2002

TVX Gold Inc. ("TVX") announces that the decision of the Greek Government to issue the permit to allow for the continuation of mining at its Stratoni operation (Marves Petres mine) has been delayed one week in order that a information meeting may be held with interested local parties. A committee of six independent professors from the National Technical University of Athens, appointed to review the proposed mining method, has submitted its findings to the Greek Government confirming that the method is both safe and appropriate considering the nature of the orebody.

Sean Harvey, President and Chief Executive Officer of TVX, stated "We met with the Deputy Minister of Development yesterday and, while we are disappointed that our permit will not be available this Friday, the meeting with the Minister was both worthwhile and fruitful. TVX fully concurs with the Government's position that, before a final decision is made, further discussions should take place to inform interested parties of the safety of the proposed mining method. We would much prefer to have a permit that is fully supported by all stakeholders and we are confident that the Government will meet its commitment to provide a decision by February 15, 2002."

A translation of the text of the Greek Government's press release, announced today, is as follows:

"In the meeting held yesterday headed by the Deputy Minister

of Development, Mr. Alexandros Kalafatis, with the

participation of a Professor from the National Technical

University of Athens (NTUA), Mr. Konstantinos Panagopoulos,

administration officials and representatives of TVX led by the

President of the Company, Mr. Sean Harvey, all matters related

with the continuation of the mining operations in Chalkidiki

were thoroughly examined.

During this meeting, a systematic evaluation (analysis) of the

study made by the NTUA took place. The mining method used by

the Company at its "Mavres Petres Mine" was analyzed in

detail. According to the study, the mining method used is the

safest possible. Subsequently, the measures proposed in the

relevant study of the NTUA were discussed, as well as their

implementation, in order to minimize any potential negative

impact that may occur.

Next Tuesday, February 12, 2002, a visit to the area by the

Deputy Minister has been scheduled. Administration officials

will accompany the Deputy Minister and the members of the

committee of NTUA who carried out the above-mentioned study. A

meeting will be held with local leaders, representatives of

the employees, and local citizens, where all the issues

related to the operation of the mine will be discussed.

With this meeting, all the necessary procedures will have been

completed so that the Government will be able to take and

announce its final decision definitely on Friday, February 15,

2002."

Forward Looking Statements

Some statements in this press release contain forward-looking information. These statements address future events and conditions and, as such, involve inherent risks and uncertainties. Actual results could be significantly different from those projected.

For Investor and Media Information, contact:

Carl Hansen
Manager, Investor Relations
Tel: [phone]
[e-mail]

Investor Relations
Toll Free (in North America):
1 877 TVX GOLD (889-4653)
[e-mail]

Visit the TVX Gold Web Site at:
http://www.tvxgold.com

220 Bay Street, Suite 1200,
Toronto, Ontario, Canada M5J 2W4
Tel: [phone]
Fax: [phone]

All dollar amounts are expressed in US dollars, unless otherwise stated.