Toronto, March 1, 2017 – Minera Alamos Inc. (TSX-V:MAI) (the “Company” or “Minera Alamos”) is pleased to report that after successful negotiations with community representatives it has finalized a surface use agreement at the La Fortuna site in Durango, Mexico. With the completion of these surface rights negotiations, the Company can now proceed to submit the concurrently prepared mining permit applications.
“Over the past year, we have been able to establish constructive working relationships with the members of the local community. The finalization of this agreement marks a major milestone in the development of the La Fortuna project and we look forward to a mutually beneficial relationship with the local stakeholders,” said Darren Koningen, President of Minera Alamos.
- The Company has been holding ongoing talks with landowners, hosting community meetings and negotiating with various stakeholders with the goal of receiving local support for a land access agreement for the La Fortuna Project. This process culminated in a recent community vote, which unanimously supported the development of the project within the La Fortuna Concessions area.
- The completion of the surface rights agreement represents the final outstanding requirement for the two main development permits — Environmental Impact Statement (Manifestacion de Impacto Ambriental) and Environmental Risk Study (Estudio de Riesgo Ambiental). Both applications can now be filed following preparation of final surface agreement documentation. Upon review and final acceptance, permits will be granted, allowing for the commencement of mine construction.
- The Company has secured surface access to a 235 Ha area which encompasses the envisioned mine pit, processing facility and all other necessary infrastructure to begin mining. The surface rights agreements also provide access to a substantial surrounding land package. Further exploration will be undertaken with the objective of expanding the project’s size.
- A recently planned exploration program on the property will now be initiated and will include exploration drilling once groundwork has been completed. Several prospective drill targets have already been identified including the potential south extension of the existing Fortuna Main Zone and the highly prospective large shear zone located north of the Main Zone referred to as the PN Area.
- The agreement covers a period of up to 25 years during which time the Company will be required to pay annual rental payments while operating activities are ongoing. If deemed appropriate, an option to purchase the land outright will be considered by the Company.
About Minera Alamos
Minera Alamos is a junior exploration and development company. Its growing portfolio of high-grade Mexican projects includes the La Fortuna open pit gold project inDurangoand the Los Verdes open pit copper-molybdenum project inSonora, both currently in development.
Cautionary Note Regarding Forward?Looking Statements
This press release contains "forward looking statements" and "forward-looking information" under applicable Canadian securities laws. Forward-looking information includes, but is not limited to, information with respect to the proposed transaction, timing of the closing of proposed transaction and the Company’s consideration of the proposed production plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "estimates", "intends", "anticipates" or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made at the date that such statements are made.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including the risk factors disclosed elsewhere in the Company's public disclosure. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained herein is presented for the purposes of assisting readers in understanding the Company's plans and objectives and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NEITHER THE 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.
For further information, please contact:
Minera Alamos Inc.
Chris Frostad, CEO
Patrick Piette, Investor Relations