Coro Announces Appointment of Nelson Mendoza as General Manager of its SCM Berta Operations in Chile

Aug 8, 2017 | PDF

Marimaca CopperAnnounces Appointment of Nelson Mendoza as General Manager of its SCM Berta Operations in Chile

- Mr. Mendoza brings 35 years’ plant operations experience to the SCM Berta team in Chile

August 8, 2017, Vancouver, Canada- Marimaca Copper Corp, (“Marimaca Copperor the Company”) (TSX:COP) is pleased to announce the appointment of Mr. Nelson Mendoza to the newly-created role of General Manager of Marimaca’s 65%-owned SCM Berta operation effective September 4, 2017. Mr. Mendoza comes to Marimaca Copperwith more than 35 years’ experience in the operation of mineral processing plants, 17 years of which was focused on Solvent Extraction & Electrowinning (SXEW) plants such as the type of plant located at the SCM Berta operation.

Mr. Mendoza earned a Bachelor’s degree in civil metallurgy engineering from the Universidad de Concepcion in Chile. His broad experience includes operational oversight of SXEW plants, medium and long term strategic operations planning, budgeting and meeting operational production targets. Most recently, Mr. Mendoza served as Superintendent of Minera las Cenizas’ Taltal oxide SXEW plant at approximately 400 km south of Antofagasta which has a production capacity of 8,000 to 12,000 tonnes of copper per year, where he worked with Marimaca CopperCEO Luis Tondo. Mr. Mendoza’s experience also includes eight years with Cerro Negro in progressively more senior operational roles culminating in his role as General Management of Cerro Negro Mining Company responsible for the management of the company including the fulfilment of its production programs, development of its medium and long term strategic plans and budgeting for such operations.

“We welcome Nelson to the Marimaca Coppermanagement team and look forward to reaping the benefits of his vast operations experience as we move SCM Berta toward commercial copper production and subsequent growth beyond those levels over the years,” commented Marimaca CopperCEO Luis Tondo. “Nelson exemplifies the quality and professionalism Marimaca Copperis seeking for each of its current operations leading the Company to achieve its medium term target of 30,000 tonnes of copper production within three to five years from this point. The success of the Berta operations is an important step in Marimaca’s overall development and we are confident that Nelson will contribute to this success.”

About Marimaca Copper Corp.:

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 any stage of development, which are well located with respect to infrastructure and water, have low permitting risk, and have the potential to achieve a short and cost effective timeline to production. The Company’s preference is for open pit heap leach copper projects, where minimizing capital investment takes priority over maximizing NPV, where profitability is prioritized over production rate, and finally, where the likely capital cost is financeable relative to the Company’s market capitalization. The Company’s assets include the Marimaca development project; its 65% interest in the SCM Berta company, which includes the Berta and Nora operations and the Llancahue prospect.

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This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Such forward-looking statements or information, include but are not limited to production estimates. Forward-looking statements involve known and unknown risks, uncertainties and other factors which are beyond Marimaca’s ability to predict or control and may cause Marimaca’s actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, the operation of the Nora Plant, copper price volatility, and changes in debt and equity markets. Such forward-looking statements are also based on a number of assumptions which may prove to be incorrect, 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.

Accordingly, readers should not place undue reliance on forward-looking statements. Marimaca Copperundertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law.

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