Aguila Provides Corporate Update
December 22, 2014 - Vancouver, British Columbia - Aguila American Gold Limited (“Aguila”) or (the “Company”) – (TSX-V: AGL) is pleased to report on major milestones accomplished this quarter and reflect on the year in review for the Angostura Project.
The regional director of Energy and Mines was on site on December 18th, 2014 in the Mollepina community to present the ministerial resolution for the formalization of the miners forming the Ccoriminas mining co-operative. In addition, permission is in place to start and re-initiate the mining activities on the Delicias mining concession through the existing agreement with the community of Mollepina.
This formalization of the miners and the mining process was the last formal step towards completion of the environment impact assessment (“EIA”). The EIA should be completed in January 2015.
This formalization is an historic event as it represents the first in the Department of Apurimac. Importantly this process is completely in compliance with the directives of the new mining legislation introduced in 2012. While the time consumed to achieve this status reflects the fact it is the first of its kind in the region, this now brings the previously informal miners into mainstream legal compliance.
In November the land use agreement for the 30 hectare mill site was extended to a term of 15 years from the previously granted five year period. The agreement has been filed and notarized in the Public Registry.
Throughout the year engineering for the 350 tpd proposed high grade gold processing facility has continued in support of the EIA, the cost estimates and the feasibility of the milling facility.
Community activities have been suppressed due to limited funding availability, as agreed with the community on the priorities being in aid of the 350 tpd high grade gold processing facility.
General:
With the changes to the mining laws in Peru, one intention of which is to bring the informal miners into fully compliant status through formalization, Aguila and the community of Mollepina have achieved historic status as the first to be formalized in The Department of Apurimac.
Since our first agreement and with the introduction of the 350 tpd processing plant Aguila has been approached by 9 additional communities to also process their minerals, assuring 150% of the required mill feed should we be able to move quickly on implementation following an approved EIA. Historically these communities have been producing small but very high grade tonnages. Aguila is actively pursuing these opportunities.
Aguila thanks the community for their support on this initiative.
ON BEHALF OF THE BOARD,
“John Huguet”
John Huguet President and CEO
Aguila American Gold Ltd.
Aguila American Gold Ltd. is an emerging gold exploration company with an experienced executive management team focused on advancing and developing their prospective gold project, Angostura. Angostura is located 180 kilometres southwest of city of Cuzco, in the Department of Apurimac, southwestern Peru. Angostura is located in a prolific mineral trend, approximately 25 kilometres from the Las Bambas Mine, a major mining project being developed by Xstrata Mining Pty.
For more information visit www.aguilaamerican.ca
Aguila American Gold Ltd.
Tel: (604) 685 9316 Fax: (604) 683 1585 http://www.aguilaamerican.ca
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