 | |
| |
| | June 21, 2007
Recent Developments In Argentina - NR 07-02
|
| | NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES
June 21, 2007 Coro Mining Corp. ("Coro" or the "Company") wishes to provide an update on recent developments in Argentina. On June 20, 2007, the Mendoza Provincial Legislature passed legislation prohibiting the use of toxic chemicals including sulphuric acid in any mining activity in the Province. The new legislation, unless amended or repealed, could impair the Company's ability to develop the San Jorge project.
The Mendoza Government is working on producing an environmental plan for the entire province which, if implemented, is expected to establish a framework for environmental protection and community consultation sufficient to allow the San Jorge project to proceed, subject to the receipt of necessary operating permits. In anticipation of this, it is the Company's intention to continue with its evaluation of San Jorge during the remainder of this year, and to complete its pre-feasibility study. Notwithstanding that the Company intends to continue with its plans for San Jorge, there can be no assurance that the recently passed legislation or the provincial environmental plan will be implemented in a form which will allow the San Jorge project to be permitted.
In addition to San Jorge, Coro has an advanced stage copper project in Chile that is currently being drilled, as well as a portfolio of earlier stage exploration properties in Chile and Mexico that are being actively evaluated. The Company continues to seek out to new opportunities to achieve its objective of becoming a mid tier copper producer focussed on Latin America.
Further to the Company's News Release dated June 14, 2007, the Company will be filing an amendment to its prospectus dated June 12, 2007, and the closing of the Company's initial public offering has been delayed.
CORO MINING CORP.
"Alan Stephens"
Alan Stephens
President and CEO
About Coro Mining Corp.:
The Company was founded with the goal of building a mining company focused on medium-sized base metals deposits in Latin America. The Company intends to achieve this through the exploration for, and acquisition of, projects that can be developed and placed into production and it has established an experienced development and exploration team to accomplish this. The Company has two main properties; Barreal Seco, in Chile and San Jorge, in Argentina, as well as other exploration properties located in Chile and Mexico.
For further information please refer to the Company's final prospectus filed on www.sedar.com or contact Michael Philpot, Executive Vice-President at (604) 682 5546 or investor.info@coromining.com.
This news release is not intended for and should not be disseminated to or read by any resident of the United States or any U.S. person. The offered securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to or for the account or benefit of U.S. persons, except in certain transactions exempt from the registration requirements of the U.S. Securities Act and all applicable state securities laws.
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to the prices of copper, estimated future production, estimated costs of future production, permitting time lines, involve known and unknown risks, uncertainties, and other factors which may cause the 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 or information. Such factors include, among others, the actual prices of copper, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's documents filed from time to time with the securities regulators in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Price Edward Island and Newfoundland and Labrador. |
| |
| | You can view the Next News Releases item: Wed Jul 4, 2007, Coro Mining Corp. revises its Initial Public Offering - News Release 07-03
You can view the Previous News Releases item: Thu Jun 14, 2007, Coro Mining Corp. Prices C$25 Million Initial Public Offering For Listing On The Toronto Stock Exchange
You can return to the main News Releases page, or press the Back button on your browser.
|
|
| |
