Toronto, Canada, January 14, 2005… BREAKWATER RESOURCES LTD.
(“Breakwater”) (TSX-BWR) is pleased to announce that NVI Mining Ltd. (“NVI”), a
wholly-owned subsidiary of Breakwater, has reached a tentative agreement with
Local Union 3019 of the Canadian Auto Workers (the “Union”) which represents
the 350 unionized employees at the Myra Falls mine of NVI. Although the
previous collective agreement expired on June 30, 2004, the Myra Falls mine
continued to operate without disruption and without a collective agreement in
place during the intervening months. On January 13, 2005, NVI and the Union
reached a tentative agreement, which provides for a replacement collective
agreement that will expire on March 31, 2008. Further details of the tentative
agreement will be released after a ratification vote of the Union in Campbell
River, British Columbia, which is scheduled for January 17 and 18, 2005. The
Myra Falls mine, located in Campbell River, British Columbia, produces zinc and
copper concentrates containing significant gold and silver as well as a goldbearing
gravity concentrate.
Breakwater is a mineral resource company engaged in the acquisition,
exploration, development and mining of base metal and precious metal deposits
in the Americas and North Africa. Breakwater has five producing zinc mines: the
Myra Falls mine in British Columbia, Canada; the Bouchard-Hébert mine in
Québec, Canada; the Bougrine mine in Tunisia; the El Mochito mine in
Honduras; and the El Toqui mine in Chile. The Company also owns the Langlois
mine in Canada, which is currently on a care and maintenance program and is
being prepared to bring the mine back into production.
This news release contains forward-looking statements within the meaning of the
United States Private Securities Legislation Reform Act of 1995. When used in
this news release the words “anticipate”, “believe”, “intend ”, “estimate”, “plans”,
“projects”, “expect”, “will”, “ budget”, “could”, “may”, and similar expressions are
intended to identify forward-looking statements. Such forward-looking
statements involve known and unknown risks, uncertainties and other factors
which may cause actual results, performance or achievements of the Company
to be materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. The Company
disclaims any obligation to update or revise any forward-looking statements
whether as a result of new information, events or otherwise.
For further information please contact:
Garth A.C. MacRae
President and Chief Executive Officer
(416) 363-4798 Ext. 231
William M. Heath
Vice President, Administration
(416) 363-4798 Ext. 267
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