SOUTHERN ARC PROVIDES AN UPDATE ON THE REVISION OF THE PROVINCIAL REGULATION (PERDA)
Vancouver, B.C.: Southern Arc Minerals Inc. (TSX Venture: SA) is pleased to provide the following update on the current status of the revision to the Provincial Spatial Planning Regulation ("Perda”).
In December 2006 the Provincial Governor introduced the Perda which purported to restrict mining activity on Lombok Island. The Perda was enacted without the consent of the relevant Regency and Central governments. In order to address this, the Central Government passed the National Spatial Planning Law 26/2007 and amendment No. 4725 (the "Federal Law”), requiring, the Provincial Government, by November 2009, to reclassify the entire provincial territory into designated zones (e.g. mining, agriculture or tourism).
Pursuant to the Federal Law, the Central Government formed the National Spatial Planning Body (the "NSPB”) in order to develop provincial laws which conform to the Federal Law. As of November 30, 2009 the Company has been informed by officials within the Central and Provincial governments that:
Once these new land utilization regulations are in effect, all prior restrictions to mining activities on Southern Arc properties will be immediately removed.
On behalf of the Board of
President and CEO
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved of the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as such 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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