Vancouver, B.C. June 29, 2016 - Marimaca Copper Corp. (TSX: COP) (“Coro”, the “Company”) is pleased to report that all of the nominees listed in its information circular dated May 30, 2016 were re-elected as directors of Marimaca Copperat the Company’s annual general and special meeting of shareholders held in Vancouver, Wednesday, June 29, 2016 (the “Meeting”).
The detailed results of the votes received by proxy and voted at the meeting are listed below.
In addition, the Company announces that its shareholders approved the both the Private Placement and Management’s potential participation in the Private Placement announced on May 24, 2016. Marimaca Copperwill provide an update on the Private Placement shortly.
CORO MINING CORP.
President and CEO
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. The Company’s assets include its 65% interest in SCM Berta including the Berta and Salvadora deposits; the Marimaca drill stage project; the Planta Prat project; the Llancahue prospect, optioned to Industrias Peñoles; and a royalty on the San Jorge copper-gold project located in Argentina.
For further information please visit the Company’s website at www.coromining.com or contact Michael Philpot, Executive Vice-President at (778) 240 2555 or (604) 682 5546 or email@example.com or François Perron at Renmark Financial Communications Inc at (416) 644-2020 or (514) 939-3989 or firstname.lastname@example.org or www.renmarkfinancial.com.
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 Private Placement, 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 risk that all conditions precedent to completion of the Financing Transaction will not be satisfied, 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, Prince Edward Island and Newfoundland and Labrador.