Petaquilla Gold S.A. Becomes Signatory to International Cyanide Management Code

The International Cyanide Management Institute (ICMI) announced today that it had accepted the application of Petaquilla Gold S.A. to become a signatory to the International Cyanide Management Code for the Manufacture, Transport and Use of Cyanide in the Production of Gold (Code). Petaquilla Gold S.A., a subsidiary of publicly owned and Canada-based Petaquilla Minerals, Ltd., plans to bring its Molejon Gold Project into production later this year. The project is located in Panama’s Donoso District in the Province of Colon.

The Code is a voluntary industry program for companies involved in the production of gold using cyanide and companies manufacturing and transporting this cyanide. Petaquilla Minerals, Ltd. is the Code’s 46th signatory company, and by becoming a signatory it commits to follow the Code’s Principles and to have verification audits of its operation conducted by independent third-party auditors within three years of its initial application, and every three years thereafter.

The Code was developed under the aegis of the United Nations Environment Programme by a multi-stakeholder Steering Committee. The Code is intended to complement an operation’s existing obligation to comply with the applicable laws and regulations of the political jurisdiction in which the operation is located.

ICMI has been established to administer the Code, promote its adoption, evaluate its implementation, and manage the certification process. A detailed list of the operations covered by signatory companies’ applications, along with the full text of the Code and its implementing and administrative documents, are available at www.cyanidecode.org.
Date:
Thursday, April 23, 2009