Vancouver, BC / TheNewswire / October 29, 2015 - Durango Resources Inc. (the "Company" or "Durango") reports that TransCanada Corp. has received final permits from the British Columbia Oil and Gas Commission (BCOGC), giving regulatory approval for the construction and operation of the Prince Rupert gas transmission (PRGT) pipeline project.
The Globe and Mail reported in its Wednesday, Oct. 28, edition that "TransCanada announced that it cleared one of the final regulatory hurdles necessary to begin construction of a $5-billion pipeline project serving a proposed natural gas export facility in British Columbia. Developers are racing to build export terminals to sell the power-plant fuel on international markets amid a glut of supplies and low domestic prices."
Marcy Kiesman stated, "This is good news for Durango as these permits will link the northeastern British Columbia natural gas production with the proposed Pacific Northwest (PNW) liquefied natural gas station on Lelu Island near Prince Rupert. Durango's Smith Island limestone property is located approximately six kilometres away from Lelu Island and with the permitting milestone now achieved, Durango plans to begin the advance of the north coast BC limestone properties."
About Smith Island
The Smith Island property is a past producing limestone property located approximately 6 kilometres southwest of Lelu Island near Prince Rupert, BC where the proposed $36 billion LNG facility is expected to be built by Petronas LNG Consortium (Pacific Northwest LNG).
About Mayner's Fortune
The Mayner's Fortune limestone property is located in the Skeena Mining Division approximately 7.5 kilometres south west of Terrace, BC and 4 kilometres west of Lakelse Lake on Lakelse River. The property is located adjacent to the CNR railway line running between Terrace and Kitimat, less than 50 kilometres away from the proposed LNG (liquefied natural gas) site at Kitimat, BC.
The Shell Consortium LNG project partners received full Environmental Approvals in June, 2015, for the proposed $40 billion LNG project in Kitimat. Public information on the LNG Canada consortium can be viewed at www.lngcanada.ca.
Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The Company has a 100% interest in the Mayner's Fortune and Smith Island limestone properties in northwest British Columbia, the Decouverte and Trove gold properties in the Abitibi Region of Quebec, and the Buckshot graphite property near the Miller Graphite mine in Quebec and three sets of claims in the Labrador nickel corridor.
For further information on Durango, please refer to its SEDAR profile at www.sedar.com.
Marcy Kiesman, Chief Executive Officer
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs, execution of a definitive agreement, raising of funds, obtaining regulatory approvals and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties relating to Durango, please refer to the Company's prospectus filed on its SEDAR profile at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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