MEDELLIN, Colombia,
Dec. 22, 2021 /CNW/ - Mineros
S.A. (TSX: MSA) (CB: MINEROS) ("Mineros" or the "Company") is
pleased to announce that it has, through its subsidiary, Mineros
Chile SpA ("Mineros Chile"), acquired shares representing 20% of
the issued capital of Minera Cavancha SpA ("Minera Cavancha"), a
joint venture entity that holds a 100% interest in the La Pepa
Project (the "Share Acquisition"). Concurrently with such
acquisition, Mineros Chile, Minera Yamana Chile SpA ("Minera
Yamana"), a subsidiary of Yamana Gold Inc. ("Yamana"), and Minera
Cavancha entered into a shareholder agreement dated December 20, 2021, pertaining to Minera Cavancha
and operations at the La Pepa Project (the "La Pepa Shareholder
Agreement").
The Share Acquisition and entry into the La Pepa Shareholder
Agreement follow the Company's exercise on June 25, 2021, of its option to acquire a 20%
beneficial interest in the La Pepa Project under an option
agreement dated December 14, 2018,
and effective as of July 2, 2019,
between the Company, Mineros Chile, Yamana, and Minera Cavancha
(the "La Pepa Option Agreement"). Under the La Pepa Option
Agreement, the Company has the option to earn an additional 31%
interest (for an aggregate 51% interest) in the La Pepa Project
subject to incurring certain expenditures and other conditions, and
thereafter to acquire Yamana's remaining 49% interest in Minera
Cavancha at fair market value. For further information, see
the final prospectus of the Company dated November 11, 2021, available on SEDAR at
www.sedar.com.
ABOUT THE LA PEPA PROJECT
The La Pepa Project is an advanced gold exploration project
located in the Maricunga Gold Belt in northern Chile. Mineros is exploring the La Pepa
Project with the objective of developing and expanding a
porphyry-style gold system, similar to other gold systems in the
Maricunga Gold Belt.
ABOUT MINEROS S.A.
Mineros is a Latin American gold mining company headquartered in
Medellin, Colombia. The Company
has a diversified asset base, with mines in Colombia, Nicaragua and Argentina and a pipeline of development and
exploration projects throughout the region.
The board of directors and management of Mineros have extensive
experience in mining, corporate development, finance and
sustainability. Mineros has a long track record of maximizing
shareholder value and delivering solid annual dividends. For almost
50 years Mineros has operated with a focus on safety and
sustainability at all our operations.
Mineros' common shares are listed on the Toronto Stock Exchange
under the symbol "MSA", and on the Colombia Stock Exchange under
the symbol "MINEROS".
FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking information" and
"forward-looking statements" (collectively, "forward-looking
information") within the meaning of applicable securities laws. In
some cases, forward-looking information can be identified by the
use of forward-looking terminology such as "plans", "targets",
"expects", "budgets", "scheduled", "estimates", "outlook",
"forecasts", "projects", "prospects", "strategy", "intends",
"anticipates", "believes", or variations of such words and phrases
or statements that certain actions, events or results "may",
"could", "would", "might", or "will" occur. In addition, any
statements that refer to expectations, intentions, projections or
other characterizations of future events or circumstances contain
forward-looking information. Statements containing forward-looking
information are not historical facts but instead represent
management's expectations, estimates and projections regarding
future events or circumstances. The forward-looking information
contained herein includes, but is not limited to, information
relating to exploration of the La Pepa Project, and any future
exercise of rights under the La Pepa Option Agreement.
Forward-looking information is necessarily based on opinions,
estimates and assumptions that, while considered by the Company to
be appropriate and reasonable as of the date of this press release,
are subject to known and unknown risks, uncertainties, assumptions
and other factors that may cause the actual results, level of
activity, performance or achievements to be materially different
from those expressed or implied by such forward-looking
information. Such risks and uncertainties include, but are not
limited to, the results of mineral exploration, market conditions,
the price of gold, currency fluctuations, and the factors discussed
under "Risk Factors" in the final prospectus of the Company dated
November 11, 2021 (the "Final
Prospectus"), available on SEDAR at www.sedar.com. In addition,
there may be other risk factors not presently known to the Company
or that the Company presently believes is not material. If any of
these risks or uncertainties materialize, or if the opinions,
estimates or assumptions underlying forward-looking information
prove incorrect, actual results or future events might vary differ
materially from those expressed in such forward-looking
information. Accordingly, readers should not place undue reliance
on forward-looking information.
Forward-looking information contained in this press release
represents the Company's expectations as of the date of this press
release (or as of the date they are otherwise stated to be made),
and are subject to change after such date. The Company disclaims
any intention or obligation or undertaking to update or revise any
forward-looking information whether as a result of new information,
future events or otherwise, except as required under applicable
securities laws.
SOURCE Mineros S.A.
