Alliance Mining Corp. and Compania de Minas Buenaventura S.A.Enter Into Memorandum of Understanding for Previous Operating Go...
April 15 2015 - 09:40AM
ALLIANCE MINING CORP (TSX-V:ALM), (the "Company") is pleased to
announce that on April 10, 2015 it entered into two memorandum of
understanding (each, a "MOU") with Compañia de Minas Buenaventura
S.A. ("Buenaventura") (NYSE:BVN) (Lima Stock Exchange:BUE.LM), a
Peruvian mining company, relating to the purchase of a 100%
interest in properties comprising of past producing mines located
in South Eastern Peru: the Shila-Paula Mine property and the
Poracota Mine property.
Further to a company news release dated January 5 2015, The
Company is continuing to finalize its due diligence and has placed
a USD$200,000 deposit and signed the MOU's associated with these
projects in-order to work towards completing a definitive agreement
within the next 45 days for April 10 2015.
Highlights from the January 5, 2015 press release on the
project: The Company can acquire 100% of the Shila-Paula Mine
property for CDN$1,500,000 and 100% of the Poracota Mine property
for CDN$1,000,000 from Buenaventura as well included is all the
associated exploration and expansion targets.
Further details regarding the projects and the MOU's will be
released shortly.
ON BEHALF OF THE BOARD
"Travis Snider "
Mr. Travis Snider, President & Director
The TSX has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.
Certain of the statements made and information contained herein
is "forward-looking information" within the meaning of the Ontario
Securities Act. This includes statements concerning the Company's
plans at its mineral properties, which involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company, or industry
results, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking information. Forward-looking information is subject
to a variety of risks and uncertainties which could cause actual
events or results to differ from those reflected in the
forward-looking information, including, without limitation, the
availability of financing for activities, risks and uncertainties
relating to the interpretation of drill results and the estimation
of mineral resources and reserves, the geology, grade and
continuity of mineral deposits, the possibility that future
exploration, development or mining results will not be consistent
with the Company's expectations, metal price fluctuations,
environmental and regulatory requirements, availability of permits,
escalating costs of remediation and mitigation, risk of title loss,
the effects of accidents, equipment breakdowns, labour disputes or
other unanticipated difficulties with or interruptions in
exploration or development, the potential for delays in exploration
or development activities, the inherent uncertainty of production
and cost estimates and the potential for unexpected costs and
expenses, commodity price fluctuations, currency fluctuations,
expectations and beliefs of management and other risks and
uncertainties. In addition, forward-looking information is based on
various assumptions. Should one or more of these risks and
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described
in forward-looking statements. Accordingly, readers are advised not
to place undue reliance on forward-looking information. Except as
required under applicable securities legislation, the Company
undertakes no obligation to publicly update or revise
forward-looking information, whether as a result of new
information, future events or otherwise.
CONTACT: FOR FURTHER INFORMATION PLEASE CONTACT:
Alliance Mining Corp.
(604) 628-6645
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