TSX-V: CUG and CUG.DB
MONTREAL, March 29, 2016 /CNW/ - Cyprium Mining Corporation ("Cyprium" or the "Company") (TSX-V: CUG and CUG.DB) is pleased to announce that it has engaged International Mineral Development and Exploration Inc./Compañia Minera Cascabel S.A. de C.V. ("IMDEX/Cascabel") as technical advisors for the development and exploration program at the Company's Potosi silver mine located in the historic Santa Eulalia mining district located in the State of Chihuahua, Mexico. IMDEX-Cascabel is led by Dr. Peter Megaw, who is considered an expert on Carbonate Replacement Deposits (CRDs) of which the Santa Eulalia mining district is historically considered the world's largest example. His doctoral work at the University of Arizona was a comprehensive study of the district and he is very familiar with the Potosi Mine.
Mr. Alain Lambert, Chairman and CEO of Cyprium stated: "Dr. Megaw is regarded as "the" expert on the geology of the Santa Eulalia district and the Potosi silver mine. He has had a relationship with the Valenzuela family for nearly 40 years and worked with some of our technical people in the 80s during his doctoral studies in the district. I look forward to Dr. Megaw supporting our underground exploration as well as helping us develop an exploration program for the balance of our property".
Dr. Megaw commented: "The Potosi Mine is one of Mexico's great historic mines and I am really looking forward to working there again to help Cyprium get her back into production".
Dr. Megaw is certified as a Professional Geologist (CPG) by the American Institute of Professional Geologists and is an Arizona Registered Geologist. He is a co-founder of Mag Silver Corp and has more than 35 years of relevant experience focused on silver and gold exploration in Mexico. He and his team are credited with a number of mineral discoveries in Mexico including Excellon Resource's Platosa Mine, and MAG Silver's Juanicipio-Fresnillo, Zacatecas and Cinco de Mayo, Chihuahua properties. Dr. Megaw was awarded the Society of Mining Engineers 2012 Robert M. Dreyer Award for Excellence in Applied Economic Geology.
About Cyprium Mining Corporation
For the description of Cyprium Mining's business and the Company's Forward Looking Statement Disclaimer which form an integral part of this news release please visit our website at:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Qualified Person: Dr. Craig Gibson, Certified Professional Geologist, prepared the summary of public historical information on the Santa Eulalia district, and has reviewed the appropriate portions of this news release and approved the contents thereof.
This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or statements regarding an outlook. Such statements include, among others, those concerning the Company's anticipated plans for developments of the Company and its mining projects".
Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management's expectations regarding future growth, plans for and completion of projects by Company's third party relationships, availability of capital, and the necessity to incur capital and other expenditures. Actual results could differ materially due to a number of factors, including, without limitation, operational risks in the completion of Company's anticipated projects, delays or changes in plans with respect to the development of Company's anticipated projects by Company's third party relationships, risks affecting the ability to develop projects, risks inherent in operating in foreign jurisdictions, the ability to attract key personnel, and the inability to raise additional capital. No assurances can be given that the efforts by the Company will be successful. Additional assumptions and risks are set out in detail in the Company's MD&A, available on SEDAR at www.sedar.com.
Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company's securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law. Investors should note that, while the mineralized material being processed by the Company is assayed, there is no certainty that the proposed operations will be economically or technically viable. Investors should also note that the Potosi silver mine and La Chinche property have no established mineral resources or mineral reserves as defined by NI 43-101. Although Cyprium Mining has made a production decision regarding the Potosi silver mine based on historical production records, historical results of sampling and drilling, a feasibility study of its projects has not been completed and there is no certainty that the proposed operations will be economically or technically viable.
SOURCE Cyprium Mining Corp
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