NOT FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES
TORONTO, Nov. 14, 2012 /CNW/ - Karmin Exploration Inc.
("Karmin") (TSXV and the Lima Stock Exchange: KAR) is
pleased to announce an update on the 2012 exploration programs in
Brazil and Peru.
Aripuanã Zinc Project, Brazil
Roscoe Postle and
Associates Inc. ("RPA") has been retained to prepare a
Canadian National Instrument 43-101 compliant report defining the
zinc-lead-copper-silver resources at Karmin's 30% owned Aripuanã
Zinc Project ("Aripuanã") in Mato
Grosso, Brazil. This report will include the
information received from the 20,000 metres drilled during 2012 as
well as the approximately 100,000 metres of drilling completed at
Aripuanã over the past 15 years. RPA's report is expected to
be completed in early in 2013.
Votorantim Metais ("Votorantim"), 70%
owner and operator of Aripuanã, commenced the US$5.0 million 2012 drilling program in
February 2012 as reported in Karmin's
press release dated August 14,
2012. The 2012 drilling program was initiated by
Votorantim with the primary objective of upgrading the majority of
the indicated and inferred mineral resources at Aripuanã to the
measured and indicated mineral resource categories in order to
facilitate the revised mineral resource estimate for the
project. Drilling was completed in October 2012.
Karmin has a 30% carried interest in Aripuanã
and is not required to contribute to the project costs until the
completion of a bankable feasibility study.
Cushuro Gold Project, Peru
Recent technical work has outlined a very
prospective area for gold mineralization ("Cerro de Oro") in the southern claims of the 100%
owned Cushuro Gold Project located in the world class Alto Chicama
gold district of northern Peru. Local small miners have worked
several locations at Cerro de Oro
and a systematic geological evaluation and trenching program will
commence in the next few weeks.
The Cushuro Gold Project is located directly
east of Rio Alto's La Arena mine
which is forecast to produce 200,000 ounces of gold in 2012.
Qualified Person
A.E. Olson,
FAusIMM, a Qualified Person as defined under Canadian National
Instrument 43-101 Standards of Disclosure for Mineral
Projects, and a consultant to Karmin, has reviewed and approved
the technical content of this news release in the form and context
in which it appears.
About Karmin
The common shares of Karmin are listed on the TSX Venture Exchange
and the Lima Stock Exchange and trade in both markets under the
symbol "KAR". The principal business of Karmin is to acquire,
explore and develop resource properties.
Karmin owns 30% of the Aripuanã Zinc Project,
one of the ten largest undeveloped zinc projects in the world. The
Aripuanã Zinc Project covers an 820 square kilometre mineralized
massive-sulphide district that includes five areas of
mineralization (Ambrex, Arex, Babacu, Massaranduba and Mocoto) over
a 25-kilometre strike length. Votorantim owns 70% of the Aripuanã
zinc project, but is responsible for 100% of the project costs
until the completion of a bankable feasibility study.
Karmin owns 100% of the Aripuanã Gold Project,
which encompasses the gold and silver mineralization associated
with near-surface oxidized portions of numerous massive-sulphide
deposits in the 820-square-kilometre Aripuanã Zinc Project in north
western Brazil.
Karmin owns 100% of the 25-square-kilometre
Cushuro Gold Project located in the world-class Alto Chicama
gold-mining district of northern Peru.
Disclaimer Relating to Forward-Looking
Information
This news release contains forward-looking
statements that are based on the belief of management and reflect
Karmin's current expectations. Forward-looking statements include,
but are not limited to, possible events and statements. The words
"potential," "possible," "expects," "plans," "scheduled,"
"estimates," "anticipates" or "believes," or variations of such
words and phrases or statements that certain actions, events or
results "may," "could," "would," "might," or "will" be taken or
occur, and similar expressions identify forward-looking statements.
The forward-looking statements and information in this press
release include, but are not limited to, information relating to
the completion and results of the current drilling program and to
business plans of Karmin. Such statements and information reflect
the current view of Karmin with respect to risks and uncertainties
that may cause actual results to differ materially from those
contemplated in those forward-looking statements and
information.
Such statements are not historical facts.
Readers are cautioned not to place undue reliance on
forward-looking statements, as there can be no assurance that the
plans, intentions or expectations upon which they are based will
occur. By their nature, forward-looking statements involve numerous
assumptions, known and unknown risks and uncertainties, both
general and specific, that contribute to the possibility that the
predictions, forecasts, projections in the forward-looking
statements will not occur, and that actual performance and results
in future periods may differ materially from any estimates or
projections of future performance or results expressed or implied
by such forward-looking statements.
The Aripuanã Zinc Project and the land it
relates to is an exploration property only. Accordingly, there are
a number of important factors that could cause Karmin's actual
results to differ materially from those indicated or implied by
forward-looking statements and information. Such factors relating
to the Aripuanã Zinc Project include, among others, the timing and
content of work programs, results of the development of mineral
properties, the interpretation of drilling results and other
geological data, the uncertainties of resource and reserve
estimates, receipt and security of mineral property titles, receipt
of licenses to conduct mining activities, project cost overruns or
unanticipated costs and expenses, fluctuations in metal prices and
general market and industry conditions, changes in national and
local government legislation, taxation, controls, policies and
regulations, the security of personnel and assets, and political or
economic developments in Canada
and Brazil, operating or technical
difficulties in connection with mining or development activities,
employee relations, the speculative nature of mineral exploration
and development and the risks and hazards associated with the
business of mineral exploration, development and mining, including
environmental hazards, industrial accidents, unusual or unexpected
formations, pressures, cave-ins and flooding.
The forward-looking statements contained in this
news release are made as of the date of this news release. Readers
should not place undue importance on forward-looking information
and should not rely upon this information as of any other date.
Except as required by law, Karmin disclaims any intention and
assumes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. Additionally, Karmin undertakes no obligation to
comment on the expectations of, or statements made by, third
parties in respect of the matters discussed above.
The TSX Venture Exchange has not reviewed and
does not accept responsibility for the adequacy or accuracy of this
news release.
SOURCE Karmin Exploration Inc.
