News Release 15-08
September 1st 2015, Marimaca Copper Corp. (“Coro” or the “Company”) (TSX Symbol: COP) reports that the Company was unable to provide a new or amended technical report within the 10 day period indicated in our August 19th 2015 news release, and as such the Berta project mineral resource estimate and preliminary economic assessment are not supported by a compliant NI 43-101 technical report. They should not be relied on until independently verified and supported by a new or amended technical report which the Company is working expeditiously to provide.
Coro’s strategy is to grow a mining business through the discovery, development and operation of “Marimaca Coppertype” deposits. These are defined as projects at whatever stage of development, that are well located with respect to infrastructure and water, which have low permitting risk, and which have the potential to achieve a short and cost effective timeline to production. Our preference is for open pit heap leach copper projects, where we will seek to minimise capital investment rather than maximise NPV, where we will prioritise profitability over production rate, and finally, where the likely capital cost is financeable relative to our market capitalization. Partners will be sought for any attractive projects identified that we do not have the financial capacity to develop alone. Coro’s principal assets are the Berta project, the Planta Prat copper development project and the Marimaca copper exploration prospect, all located in Chile.
CORO MINING CORP.
President and CEO
For further information please visit the Company’s website at www.coromining.com or contact Michael Philpot, Executive Vice-President at (604) 682 5546 or firstname.lastname@example.org
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 a proposed financing, construction and operation of the Berta project, metal prices, metallurgical results and resource estimates, 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 price of copper and iron, the factual results of current and future 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, Prince Edward Island and Newfoundland and Labrador.