VANCOUVER, British Columbia, Feb. 12, 2014 (GLOBE NEWSWIRE) — Evrim Resources Corp. (TSX-V:EVM) (“Evrim” or the “Company”) is pleased to announce that it has signed an agreement (the “Agreement”) with ArcelorMittal Servicios Minerometalurgicos de Occidente S.A. de C.V. (“ArcelorMittal”), a wholly owned subsidiary of ArcelorMittal S.A., to explore for iron ore deposits in Mexico.
“We look forward to working with ArcelorMittal to find and develop new iron ore deposits for processing at their facilities in Mexico,” commented Paddy Nicol, President and CEO of Evrim. “This Agreement offers Evrim a unique opportunity to quickly advance projects for long term sustainability.”
Under the terms of the five-year Agreement, ArcelorMittal and Evrim will jointly fund exploration programs to search for iron ore projects of merit (“Project”) in Mexico. The development of Projects will be funded solely by ArcelorMittal, which will thereby earn a 100% interest in such Projects, subject to a sliding scale royalty on iron ore production and a separate royalty on all other commodities payable to Evrim. The Parties have agreed to a firm commitment for the first two years of the Agreement.
ArcelorMittal is the world’s leading steel and mining company, with a presence in more than sixty countries and an industrial footprint in over twenty countries. Guided by a philosophy to produce safe, sustainable steel, ArcelorMittal is the leading supplier of quality steel in the major global steel markets including automotive, construction, household appliances and packaging, with world-class research and development and outstanding distribution networks.
In 2012, ArcelorMittal had revenues of $84.2 billion and crude steel production of 88.2 million tonnes, while iron ore production reached 55.9 million tonnes.
For more information about ArcelorMittal please visit: www.arcelormittal.com.
About Evrim Resources
Evrim Resources is a mineral exploration company with a diverse portfolio of quality gold and copper projects, and a geological database covering Mexico and portions of south western United States. Evrim’s business plan is to generate exploration targets that it will advance through option and joint venture agreements with industry partners to create shareholder value. The projects generated to date form a solid foundation for Evrim’s execution of the joint venture business model, which will be further enhanced by a pipeline of new internally developed projects.
On Behalf of the Board
EVRIM RESOURCES CORP.
President & CEO
To find out more about Evrim Resources Corp., please contact Paddy Nicol, President or Lisa Stefan, Manager of Investor Relations at 604-248-8648, or visit www.evrimresources.com.
Forward Looking Information
This news release includes certain statements that may be deemed “forward looking statements”. All statements in this news release, other than statements of historical facts, that address events or developments that Evrim Resources Corp. (the “Company”) expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur.
Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
Neither 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 release.
CONTACT: PADDY NICOL OR LISA STEFAN TEL: 604.248.8648 FAX: 604.248.8663 WWW.EVRIMRESOURCES.COM