VANCOUVER, July 19, 2012 /CNW/ - As set out in the Company's news release filed on SEDAR May 18, 2012, both Barrick Gold Corporation and Jorge Lopehandia claim ownership of the Chilean portion of the Pascua Lama Project claims. As reported on Barrick's website, "as at December 31, 2011, Pascua-Lama has proven and probable reserves of 17.9 million ounces of gold, with 676 million ounces of silver contained within the gold reserves". Further, "independent consultants to Barrick Gold Corporation have reported that 80% of the Pascua Lama ore body resides in Chile" [per: IRC (TSX) News Release dated Jan 12, 2007].
By the Writ of Answer filed the Court in Santiago, Chile (file C-1912-2001) on August 27th, 2010 at page 2743, Barrick's lawyer, Gonzalo Nieto Valdes, stated "That the mining properties named TESOROS UNO 1-30 to TESOROS DOCE 1-5 are located in the zone of greatest geological mining interest of the Pascua Lama Project."
The Company is pleased to report the following events that, in the opinion of MSX Management, would significantly negatively impact Barrick's geological interest in the Pascua Lama project:
(1) The (administrative) cancellation in the Mining Registry of the Amarillos 1-3000 claims is projected to be Ordered by the Courts at Vallenar, Chile before the end of 2012; and,
(2) In recent Court proceedings in Vallenar, Chile the lawyers representing Barrick's subsidiaries admitted to the Court that title (or certified domain) showing Barrick's subsidiaries as owner of the "Tesoros Uno 1 al 30 to Tesoros Doce 1 al 5" claims "does not exist". By their own admission in these Court proceedings, neither of Barrick's subsidiaries, CMN SpA nor CMN Ltda., possesses any documents of title proving their ownership of the Tesoro claims.
On behalf of the Board of Directors
President and CEO
Some of the statements contained in this release are forward-looking statements, such as MSX' s expectation that it the Amarillos 1-3000 claims will be cancelled by the end of 2012. Actual results and developments may differ materially from those contemplated by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate. Accordingly, readers should not place undue reliance on any forward-looking statements.
For further information:
Bruce Oliver, Director: Telephone: 1-403-380-3255
Email: [email protected]