TSX-V: CUG and CUG.DB
MONTREAL, March 29, 2016 /CNW/ - Cyprium Mining
Corporation ("Cyprium" or the "Company") (TSX-V: CUG
and CUG.DB) is pleased to announce that it has engaged
International Mineral Development and Exploration Inc./Compañia
Minera Cascabel S.A. de C.V. ("IMDEX/Cascabel") as technical
advisors for the development and exploration program at the
Company's Potosi silver mine
located in the historic Santa
Eulalia mining district located in the State of Chihuahua, Mexico. IMDEX-Cascabel is
led by Dr. Peter Megaw, who is
considered an expert on Carbonate Replacement Deposits (CRDs) of
which the Santa Eulalia mining
district is historically considered the world's largest example.
His doctoral work at the University of
Arizona was a comprehensive study of the district and he is
very familiar with the Potosi Mine.
Mr. Alain Lambert, Chairman and
CEO of Cyprium stated: "Dr. Megaw is regarded as "the" expert on
the geology of the Santa Eulalia
district and the Potosi silver
mine. He has had a relationship with the Valenzuela family for
nearly 40 years and worked with some of our technical people in the
80s during his doctoral studies in the district. I look forward to
Dr. Megaw supporting our underground exploration as well as helping
us develop an exploration program for the balance of our property".
Dr. Megaw commented: "The Potosi Mine is one of Mexico's great historic mines and I am really
looking forward to working there again to help Cyprium get her back
into production".
Dr. Megaw is certified as a Professional Geologist (CPG) by the
American Institute of Professional Geologists and is an Arizona
Registered Geologist. He is a co-founder of Mag Silver Corp
and has more than 35 years of relevant experience focused on silver
and gold exploration in Mexico. He
and his team are credited with a number of mineral discoveries in
Mexico including Excellon
Resource's Platosa Mine, and MAG Silver's Juanicipio-Fresnillo, Zacatecas and Cinco de Mayo, Chihuahua properties. Dr. Megaw
was awarded the Society of Mining Engineers 2012 Robert M. Dreyer
Award for Excellence in Applied Economic Geology.
About Cyprium Mining Corporation
For the description of Cyprium Mining's business and the
Company's Forward Looking Statement Disclaimer which form an
integral part of this news release please visit our website at:
http://www.cypriummining.com/en/investors/disclaimers
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Qualified Person: Dr. Craig
Gibson, Certified Professional Geologist, prepared the
summary of public historical information on the Santa Eulalia district, and has reviewed the
appropriate portions of this news release and approved the contents
thereof.
This news release contains "forward-looking information"
(within the meaning of applicable Canadian securities laws) and
"forward-looking statements" (within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995). Such statements
or information are identified with words such as "anticipate",
"believe", "expect", "plan", "intend", "potential", "estimate",
"propose", "project", "outlook", "foresee" or similar words
suggesting future outcomes or statements regarding an outlook. Such
statements include, among others, those concerning the Company's
anticipated plans for developments of the Company and its mining
projects".
Such forward-looking information or statements are based on a
number of risks, uncertainties and assumptions which may cause
actual results or other expectations to differ materially from
those anticipated and which may prove to be incorrect. Assumptions
have been made regarding, among other things, management's
expectations regarding future growth, plans for and completion of
projects by Company's third party relationships, availability of
capital, and the necessity to incur capital and other expenditures.
Actual results could differ materially due to a number of factors,
including, without limitation, operational risks in the completion
of Company's anticipated projects, delays or changes in plans with
respect to the development of Company's anticipated projects by
Company's third party relationships, risks affecting the ability to
develop projects, risks inherent in operating in foreign
jurisdictions, the ability to attract key personnel, and the
inability to raise additional capital. No assurances can be given
that the efforts by the Company will be successful. Additional
assumptions and risks are set out in detail in the Company's
MD&A, available on SEDAR at
www.sedar.com.
Although the Company believes that the expectations reflected
in the forward-looking information or statements are reasonable,
prospective investors in the Company's securities should not place
undue reliance on forward-looking statements because the Company
can provide no assurance that such expectations will prove to be
correct. Forward-looking information and statements contained in
this news release are as of the date of this news release and the
Company assumes no obligation to update or revise this
forward-looking information and statements except as required by
law. Investors should note that, while the mineralized material
being processed by the Company is assayed, there is no certainty
that the proposed operations will be economically or technically
viable. Investors should also note that the Potosi silver mine and La Chinche property
have no established mineral resources or mineral reserves as
defined by NI 43-101. Although Cyprium Mining has made a production
decision regarding the Potosi
silver mine based on historical production records, historical
results of sampling and drilling, a feasibility study of its
projects has not been completed and there is no certainty that the
proposed operations will be economically or technically
viable.
SOURCE Cyprium Mining Corp