Lion Copper and Gold Corp (TSX-V:LEO, OTCQB:LCGMF) told investors that the state engineer of the Nevada Division of Water Resources has provided notice declaring as forfeited the company's water rights under three permits, including: Permit 15424 in the amount of 1.2 cubic feet per second annually; Permit 18411 in the amount of 1.34 cubic feet per second annually; and Permit 23793 in the amount of 526 million gallons annually.
The company said it intends to seek a reversal of the notice and has the right to file a petition for judicial review within 30 days from the date of the notice.