BEDFORD, NS, May 2, 2016 /CNW/ - As announced in a press release dated April 12, 2016, Zonte with a Colombian Partner (together the "Partners"), have worked through various steps required to proceed to "Special Court" to challenge the Secretaria de Minas, who have not titled an exploration application that was applied for back in July 2013. Legal counsel for the Partners is of the opinion the Mining Code has not been followed in this circumstance. The application covers open areas between titles on top of the Gramalote Deposit which is held by AngloGold Ashanti (NYSE:AU) and B2Gold (TSX:BTO, NYSE:BTG). Additional details on the application have been press released previously and can be observed at www.zontemetals.com. On April 28, 2016 legal counsel completed the last step in the process to proceed to Special Court, referred to as a "conciliatory meeting" with the Secretaria de Minas. As expected, the Secretaria de Minas maintained its position in not issuing the title and legal counsel is now in receipt of the necessary documentation to move forward. In anticipation of the above noted response from the Secretaria de Minas, legal counsel have nearly completed all documentation for Special Court and will make submissions shortly. Once completed, Zonte will provide an update.
Zonte Metals Inc. is a junior explorer focused on gold and copper. The Corporation is actively reviewing and completing field due diligence on projects in Colombia. The Company also has the Wings Point Gold Project which is a drill ready project.
This news release contains forward-looking statements which include statements regarding the Corporation's future plans, as well as statements regarding financial and business prospects and the Corporation's future plans, objectives or economic performance and financial outlooks. The Corporation believes that the expectations reflected in this news release are reasonable but actual results may be affected by a variety of variables and may be materially different from the results or events predicted in the forward-looking statements. Readers are therefore cautioned not to place undue reliance on these forward-looking statements.
In evaluating forward-looking statements readers should consider the risk factors which could cause actual results or events to differ materially from those indicated by such forward-looking statements. These forward-looking statements are made as of the date hereof, and unless otherwise required by applicable securities laws, the Corporation does not intend nor does it undertake any obligation to update or revise any forward-looking statements.
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 of accuracy of this release.
SOURCE Zonte Metals Inc.
For further information: Terry Christopher, CEO and President, 902-405-3520, [email protected], www.zontemetals.com