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Camino Minerals Completes the Acquisition of Minquest Peru and Private Placement Financing

By 22 January 2015October 22nd, 2020No Comments
January 22, 2015

Vancouver, BC – Camino Minerals Corporation (COR: TSX-V) (“Camino” or the “Company”) is pleased to announce that it has completed the acquisition (see the Company’s news release dated November 18, 2014) of all of the issued and outstanding shares of Minquest Peru SAC (“Minquest”). Under the terms of the Agreement, Camino has acquired all of the shares of Minquest and as consideration Camino issued 5,000,000 shares of Camino, subject to a hold period which will expire on May 22, 2015.

Minquest has been conducting grassroots exploration in Peru for three years and owns the Plata Dorada high grade copper, gold, silver project, located in the department of Cuzco. More recently, Minquest has been actively seeking to acquire other high grade copper – gold – silver projects in the region. The ongoing exploration activities in Peru will continue to be managed by Ken Konkin and Jorge Arevalo, who together with Ken McNaughton and Joe Ovsenek were the founders of Minquest. Mr. McNaughton served as Vice President, Exploration of Silver Standard Resources Inc. for over 19 years, and in that role oversaw all exploration programs for Silver Standard, including those in Peru, and for Canplats Resources in Mexico. Following the completion of the transaction, Mr. McNaughton will be an advisor to Camino on its activities in Peru.

The Company is also pleased to announce that it has completed a non-brokered private placement (see the Company’s news release dated November 18, 2014). The non-brokered private placement consisted of the sale of 5,650,000 common shares of the Company at $0.10 per share, for aggregate gross proceeds of $565,000 (the “Private Placement”).

The issued shares will be subject to a four month hold period, which period will expire on May 22, 2015, in accordance with the policies of the TSX Venture Exchange and the applicable securities commissions. Finder’s fees of $16,620 have been paid on a portion of the Private Placement.

The proceeds from the Private Placement will be used to advance the Plata Dorado property, and further the Company’s exploration activities in Peru.

About Camino Minerals Corporation

Camino is a discovery-oriented mineral exploration company formed in connection with Goldcorp’s C$300-million acquisition of Canplats Resources Corp. The Company is led by Canplats’ former management and is focused on the acquisition and development of high grade copper gold projects in Peru. For more information on Camino’s projects, please refer to Camino’s website at www.caminominerals.com


For further information, contact:

Corporate Information and Investor Inquiries:

R.E. Gordon Davis
Chairman and C.E.O.
Direct: (604) 629-8292

http://www.caminominerals.com To receive Camino’s news releases, email info@caminominerals.com.

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 release.

The securities of Camino described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Cautionary Note Regarding Forward-Looking Statements

Statements contained in this news release that are not historical fact are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995 and forward-looking information under the provisions of Canadian securities laws (collectively, “forward-looking statements”). Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties include, but are not limited to, the company’s ability to raise sufficient capital to fund exploration, changes in economic conditions or financial markets, changes in prices for the company’s mineral products or increases in input costs, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments in Peru, technological and operational difficulties or inability to obtain permits encountered in connection with exploration and development activities, labour relations matters, and changing foreign exchange rates, all of which are described more fully in Camino’s filings on SEDAR. The company undertakes no obligation to publicly update or otherwise revise any forward-looking statements, whether as a result of new information, future events or other factors, except as required by law. Readers are cautioned not to place undue reliance on forward-looking statements.