Friday February 15, 8:54 am Eastern Time
Press Release
SOURCE: TVX Gold
TVX Gold Reports Receipt of Stratoni Mining Permit
TORONTO--(BUSINESS WIRE)--Feb. 15, 2002--TVX Gold Inc. (``TVX'') is pleased to announce that the Greek Government has issued a permit to TVX Hellas allowing for the continuation of mining activities at the Mavres Petres mine, which is part of TVX's Stratoni zinc-lead-silver operations. The permit was issued today following an independent study conducted by six Greek professors from the National Technical University of Athens (``NTUA'') on behalf of the Ministry of Development, an extensive review by relevant government departments and positive local community information meetings. The NTUA committee's findings confirmed that the proposed mining method is both safe and appropriate for the Mavres Petres orebody.

``The Company is pleased with the commitment shown by the Greek Government and the local residents to TVX Hellas and its employees in the region,'' said Mr. Sean Harvey, President and Chief Executive Officer of TVX. ``We are encouraged that the open communication established between the Government, the local communities and TVX Hellas has improved relations in the region resulting in decisions being made on a timely and informed basis.'' The newly issued mining permit will enable production and employment to continue while allowing TVX the opportunity to form a longer-term view for realizing value from all of its Greek assets.

Updated reserves, incorporating positive results from 2001 diamond drilling activities, will be released shortly. A modest drilling program is planned for 2002 with the goal of establishing five and ten years of reserves and resources, respectively.

Forward Looking Statements

Some statements in this press release contain forward looking information. These statements address future events and conditions and, as such, involve inherent risks and uncertainties. Actual results could be significantly different from those projected.

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Das wichtige Olympias Projekt ist nach wie vor leider offen!

Gruss

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