Vancouver, November 8, 2023 – Camino Corp. (TSXV: COR) (OTC: CAMZF) (WKN: A116E1) (“Camino” or the “Company”) reports that Rio Tinto has staked copper claims immediately adjacent to Camino’s Los Chapitos Copper Project (“Los Chapitos” or the “Project”) in Peru. Camino has also increased its claims at its Los Chapitos property by an additional 1,000 hectares. The Company has recently identified the deep-seated La Estancia Fault that extends for 12 kilometers in a northwest direction (see news release dated October 24, 2023). The new land position by Rio Tinto follows the extension of this fault towards the North. In addition, South32 has an earn-in strategic alliance on the ground immediately north of Los Chapitos.
Rio Tinto is one of the world’s largest mining companies and copper producers. South32 is a major diversified mining company that was spun out from copper producer BHP. Furthermore, Mina Justa, one of the world’s newest copper mines, is located in the copper mineralized region 100 kilometres to the north of the Los Chapitos district and commenced production in 2021 with a capital investment of approximately $1.6 billion (see Figure 1).
“A major copper company like Rio Tinto entering the Los Chapitos district is another strong indicator that Camino’s geological research and exploration initiatives, in collaboration with our partner Nittetsu Mining Ltd., are significant. The Los Chapitos district is getting noticed.” said Jay Chmelauskas, President and CEO of Camino. “With the largest land position and our next drilling campaign planned to commence in December, Camino is currently the most active operator to make additional copper discoveries in the under-explored Los Chapitos district.”
Figure 1. Locations of Copper Projects and Claims in the Los Chapitos District
About Camino Corporation
Camino is a discovery and development stage copper exploration company. Camino is focused on advancing its high-grade Los Chapitos copper project located in Peru through to resource delineation and to add new discoveries. Camino has also permitted the Maria Cecilia copper porphyry project for a planned exploration drilling program. In addition, Camino has increased its land position at its copper and silver Plata Dorada project. Camino seeks to acquire a portfolio of advanced copper assets that have the potential to deliver copper into an electrifying copper intensive global economy. For more information, please refer to Camino’s website at www.caminocorp.com.
|ON BEHALF OF THE BOARD||For further information, please contact:|
|/S/ “Jay Chmelauskas”||Camino Investor Relations|
|President and CEOfirstname.lastname@example.org|
|Tel: (604) 493-2058|
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Cautionary Note Regarding Forward Looking Statements: Certain disclosures in this release constitute forward-looking information. In making the forward-looking disclosures in this release, the Company has applied certain factors and assumptions that are based on the Company’s current beliefs as well as assumptions made by and information currently available to the Company. Forward-looking information in the release includes the prospectivity of future exploration work at Los Chapitos and the receipt of necessary authorizations and approvals. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release is subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information. Such risk factors include, among others, that actual results of the Company’s exploration activities will be different than those expected by management, that the Company will be unable to obtain or will experience delays in obtaining any required authorizations and approvals and the state of equity and commodity markets. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.