04.01.2024 14:00:05 - dpa-AFX: GNW-Adhoc: The Government of Ecuador Approves Atico's Concession Extension Until 2049
VANCOUVER, British Columbia, Jan. 04, 2024 (GLOBE NEWSWIRE) -- Atico Mining
Corporation (the "Company" or "Atico") (TSX.V: ATY | OTCQX: ATCMF) is pleased to
announce that the Ministry of Energy and Mines of Ecuador, through the Central
Coordination Zone, has authorized the extension period for the La Plata mining
concession.
This new period of validity for the concession is extended until 2049. This time
frame will allow for the advancement of engineering activities, construction,
operation, and closure of mining operations within the concession, as well as
allowing the integration of any future exploration success within the mining
concession that could potentially add to the currently estimated resources.
The new term of the concession will begin from the date of registration in the
Mining Registry under the Agency for Regulation and Control of Energy and Non-
Renewable Natural Resources. This decision by the Government of Ecuador creates
better conditions to continue the investment plans in La Plata. In a favorable
scenario where additional time is needed, in 2048, the Company can apply for
another 25 year extension.
The project is in its last stage of Environmental Licensing and the Company is
looking forward to completing this milestone within the upcoming months.
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 it's
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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