VANCOUVER, May 7, 2013 /CNW/ - Eco Oro Minerals Corp. ("Eco Oro" or the "Company") (TSX: EOM) reports that results from an ecosystem biodiversity study conducted by
Ecodes Ingenieria Ltda. ("Ecodes") show that paramo does not exist in
the area of the Angostura deposit. The purpose of the report, which
covers an area of 600 hectares surrounding the Angostura deposit, was
to have a thorough understanding of the state of ecosystem conservation
in the Company's area of influence.
Ecodes, a well-renowned Colombian company specializing in the
formulation and execution of environmental projects, was commissioned
by Eco Oro in early 2012 to carry out this study. The Ecodes team of
professionals was comprised of highly qualified specialists recognized
nationally and internationally in the areas of biology, ecology of
ecosystems, ecological restoration, hydrology, climatology, GES
informatics, edaphology, ecological modeling, and social and economic
The study was conducted to a degree of detail not previously undertaken
in Colombia. Approximately 60 multidisciplinary professionals made
several visits to the Angostura property and used cutting edge models
and technology to obtain a detailed appreciation for the conservation
status of the biodiversity of ecosystems in the area under examination.
Rigorous analysis was undertaken of soils, fauna and flora,
hydrological systems, and socio-economic realities and perceptions
relating to the local communities of Soto Norte. By law the National
Development Plan prescribes that studies with a view to delineate
paramos should be undertaken on a scale of 1:25,000. The Ecodes study
reflects a more detailed scale of 1:2,000. The study also contemplated
alterations to vegetation in the area over the last five decades.
The study and its conclusions have been discussed with the relevant
authorities, including the Ministry of Mines and Energy and the
Ministry of Environment and Sustainable Development, who have been
asked to take the Ecodes study into account when concluding the paramo
"The Company believes that the Ecodes study provides the authorities
with a robust analysis of the state of conservation of biodiversity and
expects that these findings will assist them in delineating the
ultimate boundaries of the Santurban paramo," stated João Carrêlo,
President & CEO of Eco Oro. "The study supports our view that the
Angostura deposit is not located in paramo."
A copy of the executive summary of the Ecodes report in Spanish is
currently available on the Company's website at http://www.eco-oro.com/i/pdf/Reports/Eco_Oro_Estudio_Ecodes_Informe_Ejecutivo.pdf, and will be followed by an English translation in due course.
Eco Oro Minerals Corp. is a publicly-traded precious metals exploration
and development company with a portfolio of projects in Colombia. Eco
Oro has been focused on its wholly-owned, multi-million ounce Angostura
gold-silver deposit, located in northeastern Colombia, for over 18
years during which it has invested over $220 million in the project's
development and in that of the surrounding communities. Eco Oro is
committed to further advancing the Angostura Underground Project in a
socially and environmentally responsible manner that will be beneficial
for all stakeholders.
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
Certain statements in this news release are "forward-looking" within the
meaning of Canadian securities legislation. They include statements
about outcomes relating to the determination of boundaries for paramo
in the area of the Angostura Project. Forward-looking statements are
necessarily based upon the current belief, opinions and expectations of
management that, while considered reasonable by the Company, are
inherently subject to significant business, economic, competitive,
political and social uncertainties and other contingencies. Many
factors could cause the Company's actual results to differ materially
from those expressed or implied in the forward-looking statements.
These factors include, among others, political influence, government
regulation as well as other risk factors set out under the heading
"Risk Factors" in the Annual Information Form dated March 26, 2013,
which is available on SEDAR at www.sedar.com. Investors are cautioned not to put undue reliance on forward-looking
statements due to the inherent uncertainty therein.
SOURCE: Eco Oro Minerals Corp.
For further information:
For more information please visit the Company's website at www.eco-oro.com or contact
President & CEO
Tel: +1 604 682 8212
Fiona Grant Leydier
Director, Investor Relations
Tel: +1 604 682 8212
TF: 1 855 682 8212