TORONTO, ONTARIO–(Marketwired – March 12, 2015) – VVC Exploration Corporation ("VVC" or the "Company") (TSX VENTURE:VVC) is pleased to report on the positive comments by the Honorable César Duarte Jáquez, Governor of Chihuahua during his press conference in Juarez, Chihuahua, Mexico, regarding zoning changes ("Zoning Changes") for a "near-production" copper project in Northern Mexico owned by Samalayuca Cobre S.A. de C.V. ("Samalayuca Cobre"), a company which is 33.75% owned by VVC Exploration Corporation.
Governor Duarte in his comments to the press stated, "Amendments to the Plan of Natural Protected Area just published regarding Samalayuca Cobre will allow the startup of operations for mining copper, gold and silver at Samalayuca. Thanks to the efforts and agreements with the Federal Authority, the Protected Natural Area is in the process of being changed, which will benefit the area (Samalayuca)." In that news conference where he supported the zoning changes necessary to allow the Samalayuca Cobre mine, he reiterated the Government of Chihuahua's support for an environmentally responsible mining companies like Samalayuca Cobre. Former President of the Samalayuca Municipality, Javier Melendez added to the Governors comments: "The state government, CONANP, landowners (Ejidos) and the mining company Samalayuca Cobre, are all working together to ensure that the flora and fauna of Protected Natural Area are not disturbed."
Further, the Company received a letter from the Federal Director of CONANP dated March 5th, 2015. In his letter, Director Jesus Alonso Duarte Moreno provided an update on the process and delineated the steps that have been completed toward the change of zoning for the Samalayuca property as well as the next step toward completion.
These positive comments issued by Governor Duarte have bolstered the Company's efforts to start production at Samalayuca. The Company has not received formal approval or notice of a zoning change, however, we are eagerly anticipating positive changes over the coming weeks. Should the zoning changes take place as indicated by the Governor, the Company would expect to begin the process of mining in Samalayuca, working with Secretaries of Economies of the State and Federal Government, the Ministry of Environment and Local Authorities to create an environmentally sustainable mining project in Samalayuca.
Jim Culver President of VVC said: "On behalf of VVC and its partners in Samalayuca Cobre, we thank Governor Cesar Duarte Jaquez for his important contribution to this comprehensive process. Once the zoning changes take place, we look forward to starting an environmentally sustainable mining project at Samalayuca which respects the Protected Natural Area and supports jobs and economic development in the Samalayuca area and the State of Chihuahua."
It should be noted that there has been no feasibility study, prefeasibility study or preliminary economic analysis, relating to production from the property, done on the Samalayuca project and in addition no NI 43-101 compliant reserves have yet been defined and as such the project has not been shown to be economic through these studies. Inferred Mineral Resource of 4,100,281 T grading 0.47 % Cu and 5.8 g/t Ag, were defined in a report dated April 20, 2013 by Dr. Michel Boily (PhD., P.Geo.), an independent qualified person (QP) under NI 43-101 which report was filed on SEDAR on October 7, 2013. One of the partners in the project, Firex S.A. de C.V., has committed to proceed to production without the requirement of the above noted studies, once all permits are in place.
The technical aspects of this news release were reviewed by Peter Dimmell, P.Geo (NL, ON, SK, QC Temp), who is a director of VVC and a Qualified Person (QP) as defined in National Instrument 43?101.
About VVC Exploration Corporation
VVC is a Canadian exploration and mining company with projects in Mexico and Canada, which includes a near production copper prospect in Chihuahua State, and gold and silver prospects in Sonora and Sinaloa States of Mexico. The Company also has grass-roots gold prospects in the Timmins area of northern Ontario. VVC is aggressively seeking to convert its near production copper project, Samalayuca, to pilot, then full, production.
On behalf of the Board of Directors
Michel J. Lafrance, Secretary-Treasurer
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.
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 Zoning Changes at Samalayuca and the start of an environmentally sustainable mining project at Samalayuca.
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 Zoning Changes, future development and 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 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 are cautioned that notwithstanding the expectations described herein, there can be no assurance that the Zoning Changes will be completed as proposed. Trading in the securities of VVC should be considered highly speculative. All forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement.
E-mail: [email protected]
Telephone: (514) 631-2727