TORONTO, Jan. 22,
2024 /CNW/ - Adventus Mining
Corporation ("Adventus") (TSXV: ADZN) (OTCQX:
ADVZF) and Salazar Resources Limited ("Salazar") (TSXV:
SRL) (OTCQB: SRLZF) (collectively the "Participants")
are pleased to announce that the Ministry of Environment, Water,
and Energy Transition of the Government of Ecuador ("MAATE") has granted the
Environmental License for the construction and operation of the El
Domo-Curipamba project ("Environmental License").
Christian Kargl-Simard, President
and CEO of Adventus, commented: "The granting of the Environmental
License is the culmination of 17 years of diligent effort starting
with exploration in 2007 that led to the discovery of the El Domo
deposit in 2008 and included the publication of the NI 43-101
compliant feasibility study in October
2021. This Environmental License is a tremendous achievement
for our team and stakeholders, who worked tirelessly to
transparently advance the El Domo-Curipamba project. We look
forward to building on this significant milestone."
Fredy Salazar, President and CEO
of Salazar, commented: "On behalf of the Salazar team, I would like
to take this opportunity to thank the many people who have been
involved each step of the way from initial discovery to today's
Environmental License. This approval will allow the construction
and operation of El Domo, which will provide a new generation of
opportunities for the people of central Ecuador."
The environmental licensing process began on November 4, 2021, with the submittal of the
Environmental and Social Impact Assessment ("ESIA") and the
Environmental Management Plan ("EMP"). The 7,000-page ESIA
and EMP comply with Ecuadorian legislation and international best
practices which include physical, biotic, socioeconomic, and
cultural baselines, determination of areas of influence, analyses
of environmental risks and social and environmental impacts as well
as a plan that comprises the prevention and mitigation of impacts,
contingencies, training, waste management, community relations,
rehabilitation of affected areas, wildlife rescue, environmental
monitoring, and mine closure.
MAATE issued the technical approval of the ESIA and EMP in
May 2022. The final phase of the
permitting process, the Environmental Consultation
("Consultation"), was carried out by MAATE between July and
December 2023 pursuant to the
Regulation of the Environmental Organic Code as modified by
Presidential Decree 754 and in accordance with guidelines issued by
the Constitutional Court of Ecuador, which incorporate Escazú principles
and other international standards related to community
participation in development projects. The Consultation was
overwhelmingly supported by the communities in the direct area of
influence of the project, with 98% voting in favour of issuing the
Environmental License – see December 27,
2023, news release.
With this important news, the Participants confirm previous
guidance on start of construction, and reaffirm their commitment to
responsible, sustainable development in Ecuador through strict compliance with local
legislation and adoption of international best practices. The
Participants strive for excellence in all aspects of their
operations by putting responsible environmental stewardship,
community participation and development, and technical excellence
at the forefront of all endeavours.
About Adventus
Adventus Mining Corporation is an
Ecuador-focused copper-gold
exploration and development company. Adventus Mining is majority
owner of the 215 sq. km Curipamba copper-gold project, which has a
completed feasibility study on the shallow and high-grade El Domo
deposit. In addition, Adventus Mining is engaged in a country-wide
exploration alliance in Ecuador,
which has incorporated the Pijili and Santiago copper-gold porphyry projects to
date. Outside of Ecuador, Adventus
Mining owns an exploration project portfolio in Ireland with South32 Limited as the funding
participant. Its strategic shareholders include Altius Minerals
Corporation, Greenstone Resources LP, Wheaton Precious Metals
Corp., and significant Ecuadorian shareholders. Adventus Mining is
based in Toronto, Canada, and is
listed on the TSX Venture Exchange under the symbol ADZN and trades
on the OTCQX under the symbol ADVZF.
About Salazar
Salazar Resources Limited is focused on
creating value and positive change through discovery, exploration,
and development in Ecuador. The
team has an unrivalled understanding of the geology in-country and
has played an integral role in the discovery of many of the major
projects in Ecuador, including the
two newest operating gold and copper mines. Salazar Resources has a
wholly owned pipeline of copper-gold exploration projects across
Ecuador with a strategy to make
another commercial discovery and farm-out non-core assets. The
Company actively engages with Ecuadorian communities and together
with the Salazar family it co-founded The Salazar Foundation, an
independent non-profit organization dedicated to sustainable
progress through economic development. The Company already has
carried interests in three projects. At its maiden discovery,
Curipamba, Salazar Resources has a 25% stake fully carried through
to production. At two copper-gold porphyry projects, Pijili and
Santiago, the Company has a 20%
stake fully carried through to a construction decision.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
This release contains certain "forward looking statements" and
certain "forward-looking information" as "defined under applicable
Canadian and U.S. securities laws. Forward-looking statements and
information can generally be identified by the use of
forward-looking terminology such as "may", "will", "should",
"expect", "intend", "estimate", "anticipate", "believe",
"continue", "plans" or similar terminology. The forward-looking
information contained herein is provided for the purpose of
assisting readers in understanding management's current
expectations and plans relating to the future. Readers are
cautioned that such information may not be appropriate for other
purposes.
Forward-looking statements relate to future events or future
performance and reflect the Participants expectations or beliefs
regarding future events. Forward-looking statements include, but
are not limited to: the discussions regarding strategies for the
development of El-Domo; the adoption of a strategy and the timing
thereof; the obtaining of key approvals, permits and environmental
licensing approval for the El-Domo and the timing thereof; the
start of construction at El Domo and the timing thereof; and the
timing and resolution of the Court. By their very nature,
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause our actual results,
performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking statements. Such factors include, amongst
others, risks related to the exploration, development, production,
recoveries and other anticipated or possible future developments at
El Domo, including, without limitation, that exploration,
development and production activities will not occur or be as
anticipated and that environmental licensing will not be approved;
failure to obtain the environmental licensing approval for the
El-Domo along with other key permits and approvals and to start
construction; the Court will not have a favorable ruling or in the
expected time period; and general economic, business and political
conditions.
Forward-looking information are based on management of the
parties' reasonable assumptions, estimates, expectations, analyses
and opinions, which are based on such management's experience and
perception of trends, current conditions and expected developments,
and other factors that management believes are relevant and
reasonable in the circumstances, but which may prove to be
incorrect. Such factors, among other things, include: business
integration risks; fluctuations in general macroeconomic
conditions; fluctuations in securities markets; fluctuations in
spot and forward prices of copper or certain other commodities;
change in national and local governments, legislation, taxation,
controls, regulations and political or economic developments; risks
and hazards associated with the business of mineral exploration,
development and mining (including environmental hazards, industrial
accidents, unusual or unexpected formations pressures, cave-ins and
flooding); discrepancies between actual and estimated metallurgical
recoveries; inability to obtain adequate insurance to cover risks
and hazards; the presence of laws and regulations that may impose
restrictions on mining; employee relations; relationships with and
claims by local communities and indigenous populations;
availability of increasing costs associated with mining inputs and
labour; the speculative nature of mineral exploration and
development (including the risks of obtaining necessary licenses,
permits and approvals from government authorities); and title to
properties.
The Participants undertake no obligation to update
forward-looking information except as required by applicable law.
Such forward-looking information represents management's best
judgment based on the information currently available. No
forward-looking statement can be guaranteed and actual future
results may vary materially. Accordingly, readers are advised not
to place undue reliance on forward-looking statements or
information.
For further information from Adventus Mining, please contact
Christian Kargl-Simard, President
and Chief Executive Officer, at +1-416-230-3440 or
christian@adventusmining.com. Please also visit the Adventus Mining
website at www.adventusmining.com.
For further information from Salazar Resources, please contact
Freddy D. Salazar, Manager –
Corporate Development, at +593 98 548 9355 or
dsalazar@salazarresources.com. Please also visit the Salazar
Resources website at www.salazarresources.com.
SOURCE Adventus Mining Corporation
