VANCOUVER, BRITISH COLUMBIA, August 9, 2019: Cordoba Minerals Corp. (TSX-V:CDB; OTCQB:CDBMF) (“Cordoba” or the “Company”) today provides a progress update on security at its San Matias Project in Colombia.
Following the Company’s news release dated May 9, 2019 (http://www.cordobaminerals.com/news/2019/drill-program-at-alacran-copper-gold-property-in-colombia-suspended), Cordoba submitted a request to the National Mining Agency (“ANM”) to temporarily suspend all obligations of the Company relating to the El Alacran title (III-08021). The ANM and Ministry of Defense subsequently conducted a review of safety at El Alacran, determined that the Company’s request was appropriate, and approved a suspension of all obligations as a result of force majeure until May 23, 2020. Suspended obligations include the minimum drilling requirements and completion of the Environmental Impact Assessment (“EIA”) and the Mining Technical Work Plan (Programa de Trabajo y Obras or “PTO”).
Cordoba may request that the ANM lift the suspension at any time, if conditions allow, so that exploration drilling at the Project may restart. In the interim, the El Alacran title will remain in good standing.
The Colombian authorities have identified the San Matias Project as a project of national interest and have pledged their assistance in advancing the Project as quickly as possible. The Company wishes to thank them for their ongoing strong support.
Cordoba continues to maintain good relations with local communities in the surrounding area and will focus its efforts in the next few months on exploring its San Matias regional prospects, including exploration drilling to locate the porphyry source of the Montiel West satellite deposit, located 2 kilometres northeast of Alacran.
Cordoba Minerals Corp. is a mineral exploration company focused on the exploration and acquisition of copper and gold projects. Cordoba is exploring the San Matias Copper-Gold-Silver Project, which includes El Alacran deposit and satellite deposits at Montiel East, Montiel West and Costa Azul, located in the Department of Cordoba, Colombia. Cordoba also holds a 25% interest in the Perseverance porphyry copper project in Arizona, USA, which it is exploring through a Joint Venture and Earn-In Agreement. For further information, please visit www.cordobaminerals.com.
Evan Young +1-604-689-8765
This news release includes “forward-looking statements” and “forward-looking information” within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, Cordoba may request that the ANM lift the suspension at any time, if conditions allow, and that exploration drilling may restart; that El Alacran title will remain in good standing; that the Colombian authorities have identified the San Matias Project as a project of national interest; that the Colombian authorities will provide assistance in advancing the San Matias Project; that Cordoba maintains good relations with local communities in the surrounding area; and that Cordoba will focus on exploring its San Matias regional prospects, including exploration drilling to locate the porphyry source of the Montiel West satellite deposit. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof.
Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which Cordoba operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. There can be no assurance that such statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include actual exploration results, interpretation of metallurgical characteristics of the mineralization, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators, including those described under the heading “Risks and Uncertainties” in the Company’s most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law. Readers are cautioned not to put undue reliance on these forward-looking statements.