VANCOUVER, Sept. 13, 2016 /PRNewswire/ - Pan
American Silver Corp. (NASDAQ: PAAS) (TSX: PAA) (the "Company",
or "Pan American") confirmed that its Chairman, Mr. Ross Beaty, met today with the President of
Argentina, Mr. Mauricio Macri, during the Argentina Business
and Investment Forum in Buenos
Aires.
During their meeting, Mr. Macri and Mr. Beaty discussed the
prospects of the mining industry in Argentina, including the Company's
Navidad project, located in the
province of Chubut, which is one of the largest undeveloped silver
deposits in the world.
Pan American is very encouraged with the policies that have been
introduced by Mr. Macri's administration to make Argentina an attractive place for local and
foreign investments.
Under a favorable investment and legal framework in Argentina, Pan American remains committed to
the safe and environmentally responsible development of this world
class silver deposit.
Current laws in Chubut, however, prohibit open pit mine
development. As such, Pan American has made no investment or
construction decision on the Navidad project. Before any investment
decision would be considered by the Company, existing provincial
laws would have to be reformed and Pan American would have to
obtain all required permits, as well as update the technical and
economic analysis of the project.
About Pan American Silver
Pan American Silver Corp. is one of the largest primary silver
producers in the world. We own and operate seven mines in
Mexico, Peru, Argentina and Bolivia. Pan American also owns several
development projects in the USA,
Mexico, Peru and Argentina. Our mission is to be the world's
pre-eminent silver producer, with a reputation for excellence in
discovery, engineering, innovation and sustainable
development. The Company is headquartered in Vancouver, B.C. and our shares trade on NASDAQ
(PAAS) and the Toronto Stock Exchange (PAA).
For more information, visit our website at:
www.panamericansilver.com
Cautionary Note Regarding Forward-looking Statements and
Information
This news release contains "forward-looking statements"
within the meaning of the United States Private Securities
Litigation Reform Act of 1995 and "forward-looking information"
within the meaning of applicable Canadian securities legislation.
Such forward-looking statements and information include, but are
not limited to: the reform of laws restricting mine development in
Chubut province, Argentina; the
receipt of permits for the development of the Navidad project; an updated technical and
economic analysis of the Navidad
project; and an investment and construction decision by the Company
on the Navidad project.
The Company cautions the reader that forward-looking
statements and information involve known and unknown risks,
uncertainties and other factors that may cause actual results and
developments to differ materially from those expressed or implied
by such forward-looking statements or information contained in this
news release and the Company has made assumptions and estimates
based on or related to many of these factors. Such factors include,
without limitation: fluctuations in silver, gold and base metals
prices; fluctuations in prices for energy inputs, labour,
materials, supplies and services (including transportation);
operational risks and hazards inherent with the business of mining
(including environmental accidents and hazards, industrial
accidents, equipment breakdown, unusual or unexpected geological or
structural formations, cave-ins, flooding and severe weather);
adequate insurance, or inability to obtain insurance, to cover
these risks and hazards; our ability to obtain all necessary
permits, licenses and regulatory approvals in a timely manner;
changes in laws, regulations and government practices in the
jurisdictions where we operate, including environmental laws and
regulations; increased competition in the mining industry for
equipment and qualified personnel; and those factors identified
under the caption "Risks Related to Pan American's Business" in the
Company's most recent Form 40-F and Annual Information Form filed
with the United States Securities and Exchange Commission and
Canadian securities regulatory authorities, respectively. Although
the Company has attempted to identify important factors that could
cause actual results to differ materially, there may be other
factors that cause results not to be as anticipated, estimated,
described or intended. Investors are cautioned against undue
reliance on forward-looking statements and information.
Forward-looking statements and information are designed to help
readers understand management's current views of our near and
longer term prospects and may not be appropriate for other
purposes. The Company does not intend, nor does it assume any
obligation to update or revise forward-looking statements and
information, whether as a result of new information, changes in
assumptions, future events or otherwise, except to the extent
required by applicable law.
SOURCE Pan American Silver Corp.