VANCOUVER, Jan. 31 /CNW/ - PCI-1 Capital Corp. (the "Company") (TSX-V: ICC) announces that on January 28, 2011,
shareholders approved the change of its name to Curis Resources Ltd.
("Curis"). The Company also has a new trading symbol on the TSX Venture
Exchange, and will begin trading under the symbol "CUV" shortly.
The name Curis is an acronym for Copper (Cu)-Recovery-In-Situ. Curis' focus is to
develop its flagship Florence Copper Project in Arizona, USA, into a
world class low cost copper producer in the near term. The Florence
Copper Project was advanced to the point of having all project
operating permits in place, a feasibility study completed and the
successful operation of a pilot test by former owner BHP Copper Inc. in
the late 1990's.
"We are well positioned to establish Curis as a near term
next-generation copper producer," said Curis President & CEO Michael
McPhie. "Our 100%-owned Florence Project hosts a copper oxide deposit
with a 429 million tonne measured and indicated resource1 that is amenable to in-situ copper recovery (ISCR) and
industry-standard solvent extraction and electrowinning (SX/EW) copper
production. In late 2010, we announced the completion of a very
positive preliminary economic assessment (PEA) for the project and
raised $38 million to advance our 18 month work plan (see November 25,
2010 news release). Over the next year, we expect to optimize our
project engineering, complete a feasibility study and complete project
permitting. Project permitting involves the amendment and updating of
the operational permits for the project through a well-defined and time
limited amendment process. Upon successful completion of these
activities, Curis will start a Phase 1 development program that will
involve the drilling and activation of an initial ISCR well-block and
construction and commissioning of a temporary SX-EW plant to produce
99.999% pure copper cathode at the Florence Copper Project
site. Construction of the full commercial SX/EW plant and well field
facilities and associated infrastructure (Phase 2) will follow Phase 1
and is planned to start in late 2012."
Curis Resources Ltd. is a mineral development company, the major
shareholder of which is Hunter Dickinson Inc. Curis is focused on the
acquisition, development and operation of high-quality next-generation
copper properties in progressive jurisdictions around the world. It is
currently focused on advancing its 100% owned Florence Project in
Arizona USA to production.
Hunter Dickinson Inc. (HDI) is a diversified, global mine development
company with a 25-year history of mineral development success. From its
head office in Vancouver, Canada, HDI applies its unique strengths and
capabilities to acquire, develop, operate and monetize mineral
properties that provide consistently superior returns to shareholders.
President & CEO
1 grading 0.331% total copper (TCu) and containing 2.85 billion lb copper
(at a 0.05% TCu cutoff). For further details see November 25 2010 news
Neither the TSX Venture Exchange nor its Regulation Services Provide (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address permitting
exploration drilling, exploitation activities and events or
developments that the company expects are forward-looking statements.
Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results
or developments may differ materially from those in the forward-looking
statements. Factors that could cause actual results to differ
materially from those in forward-looking statements include market
prices, exploitation and exploration successes, continuity of
mineralization, potential environmental issues and liabilities
associated with exploration, development and mining activities,
uncertainties related to the ability to obtain necessary permits,
licenses and title and delays due to third party opposition, changes in
government policies regarding mining and natural resource exploration
and exploitation, continued availability of capital and financing, and
general economic, market or business conditions. Investors are
cautioned that any such statements are not guarantees of future
performance and actual results or developments may differ materially
from those projected in the forward-looking statements. For more
information on the Company, investors should review the Company's
continuous disclosure filings that are available at www.sedar.com.
SOURCE Curis Resources Inc.
For further information:
For further details on the Company and Curis Resources Ltd. please visit www.curisresources.com or contact Susie Bell, Manager of Investor Relations, at (604) 684-6365 or within North America at 1-800-667-2114