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|Mon Dec 19, 2005|
Merit Consultants awarded Red Chris Copper-Gold Project - CM Services
Red Chris Cu-Au Project
Engineering & Procurement and Construction Management Services
Vancouver, Canada, December 19, 2005 - bcMetals Corporation (TSX-V 'C') is pleased to announce that its wholly-owned subsidiary, Red Chris Development Company Limited ("RCDC"), has issued Letters of Intent to enter into contracts with AMEC Americas Limited ("AMEC") and Merit Consultants International Inc. ("Merit") for the provision of Engineering & Procurement and Construction Management ("EPCM") Services, respectively, for the construction of its Red Chris Cu-Au porphyry project.
The conclusion of a definitive contract with both parties is subject to the company concluding its project financing with Investec Bank (UK) Limited and to Board approval.
The Company is very pleased to have these two well-respected firms involved in its Red Chris project in <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Northwestern BC.
AMEC, an international project management, engineering and services company, has more than 50 years of experience meeting the needs of the mining industry. In the last ten years, AMEC has provided services to more than 1,000 mining and metallurgical projects in nearly 70 countries. AMEC's current EPCM projects include the Pogo Gold Mine in Alaska, the Phoenix Copper-Gold project in Nevada, and the Victor Mine in Ontario. AMEC also provided EPCM services for BHP Billiton's now producing Ekati Diamond Mine in the Northwest Territories and completed the Feasibility Study for the Huckleberry Mine, a Cu-Au porphyry in northwestern BC.
Since 1983, Merit has been involved as Project and Construction Managers in over 100 mining projects around the world, from scoping to commissioning. Some of Merit's achievements, since managing the construction of the Huckleberry Copper mine in the mid-90's, include the management of Goldcorps' Red Lake Mill and its current expansion as well as the McEwan Shaft; the relocation and reconstruction of the Lisbon Valley Copper plant from Tonapah, Nevada to Moab, Utah; Newmont's carbon plant at Yanacocha in Peru; Eldorado Golds' heap leach project in Turkey; and the Quadra Mining moly plant in Nevada. Merit has performed work on numerous other projects in the form of studies, reports and construction services including the renovation of the Goldstream Plant near Revelstoke, the CAPEX for Meadowbank, the feasibility management and CAPEX for Corriente's Mirador Copper Project in Ecuador, and supplemental support for the El Sauzal Project in Mexico.
The Company is well advanced on its US$110 million of project debt financing with Investec Bank (UK) Limited and expects closing before the end of January 2006.
However, one of the conditions precedent for loan draw down is the BC Government's commitment to extend the North American power grid up the Highway 37 corridor to Iskut in time for Red Chris to meet its currently planned construction schedule for first concentrate production in late 2007.
The Red Chris project, as designed in the AMEC Feasibility Study, is a 30,000 tpd open pit mine and flotation concentrator located 12 km east of Highway 37 and 18 km south of the village of Iskut. Over the course of the currently envisaged 25-year mine life the project will produce 1.85 billion pounds of Cu and 1.187 million ounces of Au in concentrates. Red Chris today is the largest new Cu-Au open pit project in North America being readied to commence construction with its Environmental Assessment Certificate approved by the BC Government.
President and CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
This release contains forward-looking statements within the meaning of the "safe harbor'' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements.
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