Camino Minerals Corporation (TSX-V: COR) (“Camino” or the “Company”) is pleased to announce that exploration is now underway at three of its gold projects in northwestern Mexico.
Detailed airborne magnetic and radiometric surveys, totaling 6,625 line-kilometers, have commenced at Camino’s El Rincon, Rodeo and Mecatona properties. In addition, soil and stream sediment geochemical surveys will soon be underway at the El Rincon and Rodeo projects. In the coming months, Camino will continue to advance all four of its exploration projects in Mexico, with the objective of defining targets for a fall drilling campaign.
Camino’s exploration projects were all acquired by Canplats Resources Corp. (“Canplats”) through agreements with La Cuesta International, Inc. (“La Cuesta”) and subsequently transferred to Camino in connection with the recent C$300-million acquisition of Canplats by Goldcorp Inc. (“Goldcorp”). Exploration of these promising exploration projects was put on hold as Canplats advanced the Camino Rojo gold deposit (“Camino Rojo”).
The principals of La Cuesta, Perry Durning and Frank (Bud) Hillemeyer, were recent recipients of the 2010 PDAC Thayer Lindsley International Mineral Discoveries Award, recognizing their outstanding record of grassroots discoveries in Mexico, which includes Goldcorp’s Camino Rojo (measured and indicated resources of 3,445,000 ounces of gold; inferred resources of 555,000 ounces of gold(i)) and Silver Standard Resources Inc.’s San Agustin (indicated resources of 1.59 million ounces of gold and 47.8 million ounces of silver; inferred resources of 1.06 million ounces of gold and 36.9 million ounces of silver(ii)) and Pitarrilla deposits (probable reserves of 91.7 million ounces of silver; measured and indicated resources of 551.6 million ounces of silver; inferred resources of 82.2 million ounces of silver(ii)).
Camino also announces the resignation of Bruce Youngman as President and Chief Operating Officer. Mr. Youngman will continue to assist the Company on a consulting basis, as Camino advances its current exploration projects and reviews additional acquisition opportunities. The Company would like to thank Bruce for his role in advancing the Camino Rojo, with Canplats, and in the start-up of Camino.
About Camino Minerals Corporation
Camino is a new mineral exploration company that was formed in connection with Goldcorp’s acquisition of Canplats. Camino is led by Canplats’ former management, has approximately C$9.2 million in the treasury and is focused on precious and base metal projects located in Mexico. For more information on Camino’s properties and associated agreement terms, please refer to the Company’s website at www.caminominerals.com
.The technical information contained in this news release has been reviewed and approved by Richard Dufresne, P.Geo., Camino’s V.P., Exploration, a “Qualified Person” as defined under National Instrument 43-101
(i) Goldcorp’s website: www.goldcorp.com
(ii) Silver Standard’s website: www.silver-standard.com
For further information, contact:
Corporate Information:
Camino Minerals Corporation
R.E. Gordon Davis
Chairman and C.E.O.
Direct: (604) 629-8292
Investor Inquiries:
Blaine Monaghan
V.P., Corporate Development
Direct: (604) 629-8294
Toll-Free: (866) 338-0047
info@caminominerals.com
www.caminominerals.com To receive Camino’s news releases, contact Blaine Monaghan, V.P., Corporate Development, at info@caminominerals.com or (866) 338-0047.
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.
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 Mexico, 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.
