VANCOUVER, BC / ACCESSWIRE / August 30, 2024 / Camino Minerals Corporation (TSXV:COR)(OTC PINK:CAMZF)(WKN:A116E1) (" Camino " or the " Company ") and Nittetsu Mining Co., Ltd. (" Nittetsu ") announce a one-week extension to their exclusive rights to finalize negotiations and documentation for the acquisition of the Puquios Project (the " Proposed Acquisition "), a construction-ready copper mine located in Chile (see news release dated June 27, 2024 ). The exclusivity period has been extended to September 7, 2024.
About Nittetsu Mining CO., Ltd.:
Nittetsu is a Japanese corporation listed on the Tokyo Stock Exchange with an 85-year history as a mining and trading company. Nittetsu is the operator of the Atacama Kozan mine located in the prolific Candelaria-Punta del Cobre copper district which is known to host iron-oxide-copper-gold type ore deposits. In addition, Nittetsu has made a decision to start construction of its 80% owned Arqueros copper mine in Chile. Nittetsu has expertise in processing, distributing, importing, and exporting copper and other mineral products. Other businesses include: purchasing and distributing coal and petroleum products; developing and distributing equipment, machinery and environment-related products; real estate; power generation using renewable energy; the supply and sale of electricity; and mining and distributing industrial minerals including limestone.
About Camino Minerals Corporation:
Camino is a discovery and development stage copper exploration company. Camino is focused on advancing its high-grade Los Chapitos copper project located in Peru through to resource delineation and to add new discoveries. Camino has also permitted the Maria Cecilia copper porphyry project for an exploration drilling program which is currently underway. In addition, Camino has increased its land position at its copper and silver Plata Dorada project. Camino seeks to acquire a portfolio of advanced copper assets that have the potential to deliver copper into an electrifying, copper intensive global economy. For more information, please refer to Camino's website at www.caminocorp.com.
ON BEHALF OF THE BOARD | For further information, please contact: |
/S/ "Jay Chmelauskas" | Camino Investor Relations |
President and CEO | |
| Tel: (604) 493-2058 |
Completion of the Proposed Acquisition is subject to a number of conditions, including but not limited to, TSXV acceptance and if applicable, disinterested shareholder approval. Where applicable, the Proposed Acquisition cannot close until the required shareholder approval is obtained. There can be no assurance that the Proposed Acquisition will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Proposed Acquisition, any information released or received with respect to the Proposed Acquisition may not be accurate or complete and should not be relied upon. Trading in the securities of Camino should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the Proposed Acquisition and has neither approved nor disapproved the contents of this news release.
Cautionary Note Regarding Forward-Looking Statements: Certain disclosures in this release constitute forward-looking information. In making the forward-looking disclosures in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company. Forward-looking information in the release includes statements with respect to the entering into of the definitive agreements in respect of the Proposed Acquisition and acquisition of the Puquios Project. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release is subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information. Such risk factors include, among others, risk that the Proposed Acquisition will not be completed as anticipated, or at all; risk that the Company will not be able to complete its due diligence and negotiate definitive documentation by September 7, 2024 in respect of the Proposed Acquisition; risk that the Company will not receive requisite regulatory and shareholder approvals or satisfy the customary conditions in respect of the Proposed Acquisition as anticipated, or at all; risk that the Company and Nittetsu will not be able to establish a 50:50 joint venture in respect of the Puquios Project and the sharing of copper off-take for the Puquios Project as anticipated, or at all; risk that the consideration payable by Nittetsu and Camino, respectively, in respect of the Proposed Acquisition will not be as anticipated; risk that the anticipated synergies between Nittetsu and Camino in respect of the Puquios Project will not be realized as contemplated, or at all; risk that actual results of the Company's exploration activities may be different than those expected by management; risk that the Company may be unable to obtain or will experience delays in obtaining any required authorizations and approvals; and risks related to the state of equity and commodity markets. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: Camino Minerals Corp