20.11.2023 14:15:08 - dpa-AFX: GNW-Adhoc: Constitutional Court Ruling Allows Continuation of The Environmental Consultation Process for Atico's La Plata Copper-Gold Project in Ecuador
VANCOUVER, British Columbia, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Atico Mining
Corporation (the "Company" or "Atico") (TSX.V: ATY | OTCQX: ATCMF) reports a
significant development in Ecuadorian environmental regulation, positively
impacting our operations and those of other productive projects nationwide.
On November 17 2023, the Ecuadorian Constitutional Court (CC) ruled on the
unconstitutionality of Executive Decree 754, regarding the Environmental
Consultation Process (ECP) for national projects. However, the CC has decided to
maintain the decree in force until the Ecuadorian National Assembly enacts this
procedure into Organic Law. This decision comes as a crucial step before the
Ministry of Environment, Water, and Ecological Transition (MAATE) can issue
environmental licenses.
This ruling is pivotal for the La Plata project and the broader community,
impacting 178 important national projects in the process of obtaining
environmental licenses. The decision enables the resumption of the ECP,
previously obstructed by anti-mining groups. This obstruction paralyzed the
construction of hospitals, water treatment plants, clean energy projects and not
only hampered the project's progress but also violated the rights of residents
in the Direct Influence Area (DIA) to be informed and consulted about potential
environmental and social impacts.
The Environmental Consultation process is a fundamental dialogue and public
debate mechanism. It ensures an open and informed interaction between the State,
through MAATE, and local communities where projects are planned. This process
aims to extensively and timely inform about potential environmental impacts and
the measures for mitigation, control, and monitoring.
Atico Mining is committed to transparent and responsible mining practices,
respecting both environmental standards and community rights. We are optimistic
that this resolution by the CC will enable us to rapidly progress with the La
Plata mining project, following a favourable technical endorsement of the
Environmental Impact Assessment (EIA) last May for the upcoming construction
phases.
We thank our stakeholders for their continued support and look forward to
advancing the La Plata project in compliance with the highest environmental and
social standards.
About Atico Mining Corporation
Atico is a growth-oriented Company, focused on exploring, developing and mining
copper and gold projects in Latin America. The Company generates significant
cash flow through the operation of the El Roble mine and is developing its high-
grade La Plata VMS project in Ecuador. The Company is also pursuing additional
acquisition of advanced stage opportunities. For more information, please visit
www.aticomining.com (http://www.aticomining.com).
ON BEHALF OF THE BOARD
Fernando E. Ganoza
CEO
Atico Mining Corporation
Trading symbols: TSX.V: ATY | OTCQX: ATCMF
Investor Relations
Igor Dutina
Tel: +1.604.633.9022
Neither the 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 release.
No securities regulatory authority has either approved or disapproved of the
contents of this news release. The securities being offered have not been, and
will not be, registered under the United States Securities Act of 1933, as
amended (the ''U.S. Securities Act''), or any state securities laws, and may not
be offered or sold in the United States, or to, or for the account or benefit
of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act)
unless pursuant to an exemption therefrom. This press release is for information
purposes only and does not constitute an offer to sell or a solicitation of an
offer to buy any securities of the Company in any jurisdiction.
Cautionary Note Regarding Forward Looking Statements
This announcement includes certain "forward-looking statements" within the
meaning of Canadian securities legislation. All statements, other than
statements of historical fact, included herein, without limitation the use of
net proceeds, are forward-looking statements. Forward- looking statements
involve various risks and uncertainties and are based on certain factors and
assumptions. There can be no assurance that such statements will prove to be
accurate, and actual results and future events could differ materially from
those anticipated in such statements. Important factors that could cause actual
results to differ materially from the Company's expectations include
uncertainties relating to interpretation of drill results and the geology,
continuity and grade of mineral deposits; uncertainty of estimates of capital
and operating costs; the need to obtain additional financing to maintain its
interest in and/or explore and develop the Company's mineral projects;
uncertainty of meeting anticipated program milestones for the Company's mineral
projects; the world-wide economic and social impact of COVID-19 is managed and
the duration and extent of the coronavirus pandemic is minimized or not long-
term; disruptions related to the COVID-19 pandemic or other health and safety
issues, or the responses of governments, communities, the Company and others to
such pandemic or other issues; and other risks and uncertainties disclosed under
the heading "Risk Factors" in the prospectus of the Company dated March 2, 2012
filed with the Canadian securities regulatory authorities on the SEDAR website
at www.sedar.com (http://www.sedar.com)
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