Centenera Mining Corporation (“Centenera” or the “Company”)
- (TSXV: CT, OTCQB: CTMIF) announces that it has
issued the final tranche of 1,430,000 common shares in its capital
(the "
Shares") under the terms of the
El Quemado lithium property (the “
Property”)
to the vendor (the “
Vendor”) of the Property.
Centenera has now fully exercised its option and owns 100% of the
Property, subject to a 2% net smelter returns
(“
NSR”) royalty granted in favour of the Vendor,
which it intends to hold through its Argentine subsidiary, Cardero
Argentine S.A.
To acquire the 7,950-hectare Property, Centenera
has issued a total of 2,500,000 Shares to the Vendor over a
24-month period (at an average deemed share price of C$0.14 per
share) and nil cash, for total consideration of C$350,000.
Centenera has the right to purchase 1% of the NSR royalty at any
time for a cash payment of US$750,000.
|
“Completion of this acquisition is another important milestone for
the Company,” stated Keith Henderson, the Company’s President &
CEO. “Given the positive results from channel sampling of various
prospects within the Property and the additional upside still not
fully explored, the Company considers the C$350,000 acquisition
cost to be excellent value for this large and prospective
Property.” |
Qualified Person
Keith J. Henderson, P.Geo., is the Company’s
qualified person as defined by National Instrument 43-101 Standards
of Disclosure for Mineral Projects and has reviewed the scientific
and technical information that forms the basis for portions of this
news release. He has approved the disclosure herein.
Mr. Henderson is not independent of the Company, as he is an
employee of the Company and holds securities of the Company.
About Centenera Mining
Corporation
Centenera is a mineral resource company trading
on the TSX Venture Exchange under the symbol “CT” and on the OTCQB
exchange under the symbol “CTMIF”. The Company is focused 100% on
mineral resource assets in Argentina, which include gold, silver,
copper-gold and lithium assets. Centenera’s assets are located in
Salta, San Juan and Santa Cruz Provinces, which are widely
recognized as being favourable jurisdictions for mining and
exploration.
On Behalf of the Board of Directors of
CENTENERA MINING
CORPORATION
“Keith Henderson”
President & CEO
For further details on the Company readers are
referred to the Company's web site (www.centeneramining.com) and
its Canadian regulatory filings on SEDAR at www.sedar.com.
For further information, please contact:
Keith Henderson Phone: 604-638-3456 E-mail:
info@centeneramining.com
Neither 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 news release.
This news release contains forward-looking
statements and forward-looking information (collectively,
"forward-looking statements") within the meaning of applicable
Canadian and U.S. securities legislation, including the United
States Private Securities Litigation Reform Act of 1995. All
statements, other than statements of historical fact, included
herein including, without limitation, statements regarding the
Company's ability to purchase 1% of the NSR royalty and the
anticipated business plans and timing of future activities of the
Company, are forward-looking statements. Although the Company
believes that such statements are reasonable, it can give no
assurance that such expectations will prove to be correct. Often,
but not always, forward looking information can be identified by
words such as "pro forma", "plans", "expects", "may", "should",
"budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates", "believes", "potential" or variations of such words
including negative variations thereof, and phrases that refer to
certain actions, events or results that may, could, would, might or
will occur or be taken or achieved. In making the forward-looking
statements in this news release, the Company has applied several
material assumptions, including without limitation, that market
fundamentals will result in sustained precious metals demand and
prices, the receipt of any necessary permits, licenses and
regulatory approvals in connection with the future development of
the Company’s Argentine projects in a timely manner, the
availability of financing on suitable terms for the development,
construction and continued operation of the Company projects, and
the Company’s ability to comply with environmental, health and
safety laws.
Forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to
differ materially from any future results, performance or
achievements expressed or implied by the forward-looking
information. Such risks and other factors include, among others,
operating and technical difficulties in connection with mineral
exploration and development and mine development activities at the
Property, estimation or realization of mineral reserves and mineral
resources, the timing and amount of estimated future production,
costs of production, capital expenditures, the costs and timing of
the development of new deposits, the availability of a sufficient
supply of water and other materials, requirements for additional
capital, future prices of precious metals and copper, changes in
general economic conditions, changes in the financial markets and
in the demand and market price for commodities, possible variations
in ore grade or recovery rates, possible failures of plants,
equipment or processes to operate as anticipated, accidents, labour
disputes and other risks of the mining industry, delays or the
inability of the Company to obtain any necessary permits, consents
or authorizations required, including TSX Venture Exchange
acceptance, any current or future property acquisitions, financing
or other planned activities, changes in laws, regulations and
policies affecting mining operations, hedging practices, currency
fluctuations, title disputes or claims limitations on insurance
coverage and the timing and possible outcome of pending litigation,
environmental issues and liabilities, risks related to joint
venture operations, and risks related to the integration of
acquisitions, as well as those factors discussed under the heading
"Risk Factors" in the Company's latest Management Discussion and
Analysis and other filings of the Company with the Canadian
Securities Authorities, copies of which can be found under the
Company's profile on the SEDAR website at www.sedar.com.
Readers are cautioned not to place undue
reliance on forward looking statements. Except as otherwise
required by law, the Company undertakes no obligation to update any
of the forward-looking information in this news release or
incorporated by reference herein.
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