The World Sports Alliance Intergovernmental Organization and the Government of Burundi Confirm a Fast-Tracking of the Natural Resource Mining Public-Private Partnership (NRM-PPP) Project

NEW YORK, NY--(Marketwired - Mar 4, 2014) - Today, the Government of Burundi confirmed its support and its will for a fast-tracking and early commencement of the Natural Resource Mining Public-Private Partnership (NRM-PPP) Project, between the World Sports Alliance (WSA) and the Republic of Burundi, targeting in particular the development of the nickel deposits (and other associated minerals) of the Waga and Nyabikere Mining Concessions, in the Gitega Region in Burundi.

Their Excellencies, the Minister of Finance and Economic Development Planning of the Republic of Burundi, Mr. Tabu Abdallah MANIRAKIZA and the Minister of Energy and Mines, Mr. Côme MANIRAKIZA, participated in a Conference call that included H.E. Ambassador Alain LEMIEUX, President of WSA, Mr. Jean-Pierre DUBÉ, President and CEO of the WSA International Business Consortium (WSAIBC) and Mr. Kamran M. KHOZAN, President and CEO of the CVMR Group (CVMR®). CVMR® will use its proprietary processes in this project and will be the Manager for extraction and refining at both mineral concessions, the operator of the mines, and developer of the refinery based on CVMR®'s technologies.

This conference call took place in parallel with the PDAC (Prospectors & Developers Association of Canada) Conference, currently being held in Toronto (Canada). The conference gathered leading players in mining and mineral exploration for industry discussions and a review of global developments. The WSA delegation, led by H.E. Ambassador Alain LEMIEUX, President of WSA, and CVMR® executives attended the conference.

During this official exchange, the Minister of Finance, speaking on behalf of the Government of Burundi, reaffirmed the bond of partnership between Burundi and WSA and his unwavering support for the project. He added: "We expect much from this co-operation with WSA, in order to begin the development of our mineral resources in Burundi. The people of Burundi expect much from this Project and it will be a true blessing that it starts up as of the second quarter of 2014." The Minister was also glad that this Project would generate significant employment, a priority of the Burundian Government.

Mr. Kamran M. KHOZAN, Chairman and CEO of the CVMR®, declared to the two Ministers that the Project, as a whole, has been analyzed extensively and that, this week, CVMR® would be finalizing the details for execution of the project. He added that CVMR®'s mining team is already in South Africa, ready to move to Burundi, which will ensure a swift start-up for the Project.

Moreover, Mr. Jean-Pierre Dubé emphasized the importance of selecting CVMR® for its state-of-the-art technologies, which will result in an advanced mining and refining operation with minimum impact to the environment and superior stewardship of resources.

H.E. Ambassador Alain LEMIEUX, President of WSA declared to the Ministers that, from WSA's side, all the items related to the financing have been addressed and that WSA is simply waiting for CVMR® to furnish the various performance guarantees from its suppliers and subcontractors in the next few days.

The Natural Resource Mining Public Private Partnership (NRM-PPP) Project agreed to in the fall of 2013 between WSA and the Republic of Burundi is a significant Project for the development of the Nickel (and associated minerals) Mining Concessions of Waga and Nyabikere in the Gitega Region of Burundi.

The refining plant will have a global processing capability of 3,100,000 MT/year that should yield 35,000 MT/year of highly refined Nickel and other associated minerals. This Mining and Refining Project, which calls for a US $2.3 Billion investment, also provides for the development and implementation of local infrastructures, such as electricity, roads, and transportation, valued at US $1 Billion, all of which will be entirely funded by WSA.

In concluding the conference call, WSA announced an upcoming Start-up Mission in Bujumbura, accompanied by CVMR® executives, in order to launch the actual start-up of the Project and of the WSA Initiative within the territory of Burundi. The Ministers welcomed this statement and assured WSA and CVMR® that they await their arrival with great anticipation and, once again, assured them of the greatest collaboration of the Government of Burundi for the Project.

The World Sports Alliance is an Intergovernmental Organization formed under the 1969 Vienna Convention on the Law of Treaties that currently enjoys the membership of Thirty-Three (33) Member States. The mission of WSA is to use Sports, Physical Education and Leisure, as a catalyst to design and implement extracurricular youth training, educational programs and Youth Sport Community Centers.

The WSAIBC is a Specialized Agency of WSA responsible for the development and implementation of the WSA Public-Private Partnership (WSA-PPP) Projects within the territory of WSA Member States.

CVMR® is a privately-held multinational and multi-disciplinary conglomerate, fully integrated, with 42,000 employees in four continents that specializes in project management in the mining industry, infrastructure and mineral processing plant design, construction and operation. It is a major world leader in vapour metallurgy, refining various metals (to the level of nano powders). CVMR® uses its unique, proprietary, environmentally neutral and cost effective mineral refining technologies, to generate above industry average returns on investment (CAPEX and OPEX).

For more information on the World Sports Alliance, please visit the website at www.wsaigo.org