Camino Announces up to CAD$2.0 Million Private Placement; Proceeds to be Used to Advance Exploration Drilling at the Maria Cecilia Copper Project in Peru
LEGAL*60908896.4
Suite 1780 – 555 Hastings Street 604-493-2058
Vancouver, BC V6B 4N4, Canada www.caminocorp.com [email protected]
Camino Announces up to CAD$2.0 Million Private
Placement;
Proceeds to be Used to Advance Exploration Drilling at the Maria
Cecilia Copper Project in Peru
Camino Minerals Corporation (TSXV: COR) (OTCQ B: CAMZF) ( WKN: A116E1) (“Camino” or the
“Company”) is pleased to announce that it is arranging a non-brokered private placement to raise
total gross proceeds of up to CAD$2,000,000 (the “Financing”).
The Financing will consist of the issue of up to 33,333,334 units (each, a “Unit”) at a price per Unit
of CAD$0.06. Each Unit will consist of one common share and one common share purchase warrant
(each, a “Warrant”), allowing holders to purchase an additional common share at an exercise price
of CAD$0.10 per Warrant within thirty-six months following the closing date of the Financing. In the
event the volume -weighted average closing price of the Company’s common shares on the TSX
Venture Exchange (the “ Exchange”) exceeds CAD$0.20 for twenty consecutive trading days, the
Company retains the option to accelerate the expiry date of the Warrants to thirty days after a public
announcement of its election to accelerate the expiry date of the Warrants. The Company may pay
finders fees in connection with the Financing.
The primary use of the gross proceeds will be the commencement of drilling activities at the
Company’s 100% owned Maria Cecilia porphyry complex (“ Maria Cecilia”) and for corporate
working capital and business development activities. Two drilling campaigns are planned at
Camino’s two permitted copper properties in Peru. Drilling at the Los Chapitos Copper Project (“Los
Chapitos”) will commence in December, funded in co -operation with its Los Chapitos partner
Nittetsu Mining Co., Ltd. (see news release dated November 23, 2023). The second drilling campaign
is planned to commence consecutively at the fully permitted Maria Cecilia copper porphyry
complex.
The Company has received commitments as part of the Financing from a combination of executive
management, directors, and existing shareholders of Camino. The participation in the Financing by
related parties constitutes a “related party transaction ” as defined under Multilateral Instrument
61-101 - Protection of Minority Security Holders in Special Transactions ( “MI 61-101”) and Policy
5.9 – Protection of Minority Security Holders in Special Transactions of the Exchange . Pursuant to
sections 5.5(a) and 5.7(1)(a) of MI 61-101, the Company is exempt from obtaining a formal valuation
and minority approval of the Company ’s shareholders in respect of the related party participation
in the Financing due to the fair market value of the related party participation being below 25% of
the Company’s market capitalization for the purposes of MI 61-101.
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Suite 1780 – 555 Hastings Street 604-493-2058
Vancouver, BC V6B 4N4, Canada www.caminocorp.com [email protected]
All securities issued and sold under the Financing will be subject to a hold period expiring four
months and one day from their date of issuance. Completion of the Financing remain subject to the
receipt of all necessary regulatory approvals, including the approval of the Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States of America. The securities have not been and will not be registered
under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may
not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless
registered under the 1933 Act and applicable state securities laws, or an exemption from such
registration is available.
The Maria Cecilia Porphyry Complex
The Maria Cecilia porphyry complex is a mineralized system of several intrusives that extends for
over 5 km and hosts the mineral resources of Toropunto and Emmanuel, that have been prepared
in accordance with National Instrument 43-101 standards. The central intrusive of Maria Cecilia has
never been drilled and exhibits the largest magnetic anomaly in the porphyry complex. Drilling at
adjacent deposits demonstrates cross-cutting mineralization indicating multiple intrusive pulses of
copper, gold, zinc, and molybdenum mineralization adjacent to Maria Cecilia.
In addition, anomalous molybdenum has been encountered immediately next to Maria Cecilia
indicating zoning proximity to a copper source and the potential for a robust porphyry. The Company
proposes to drill from surface two porphyry outcrops with test pit grades up to 0.5 and 0.9% Cu,
respectively, and drill to a potential quartz magnetite high -grade copper mineralized body within
the magnetic anomaly.
In September 2022, Camino was granted the Declaration of Environmental Impact permit to drill up
to 23,000 meters at Maria Cecilia (see news release dated September 12, 2022).
About Camino
Camino is a discovery and development stage copper exploration company. Camino is focused on
advancing its high -grade Los Chapitos copper project located in Peru through to resource
delineation and to add new discoveries. Camino has also permitted the Maria Cecilia copper
porphyry project for a planned exploration drilling program. In addition, Camino has increased its
land position at its copper and silver Plata Dorada project. Camino seeks to acquire a portfolio of
advanced copper assets that have the pot ential to deliver copper into an electrifying copper
intensive global economy. For more information, please refer to Camino’s website at
www.caminocorp.com.
Jose A. Bassan, FAusIMM (CP) 227922, MSc. Geologist, an independent geologist and a qualified
person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has
reviewed and approved the technical contents of this document. Mr. Bassan has reviewed and
verified relevant data supporting the technical disclosure, including sampling and analytical test
data.
LEGAL*60908896.4
Suite 1780 – 555 Hastings Street 604-493-2058
Vancouver, BC V6B 4N4, Canada www.caminocorp.com [email protected]
ON BEHALF OF THE BOARD For further information, please contact:
/S/ “Jay Chmelauskas” Camino Investor Relations
President and CEO [email protected]
Tel: (604) 493-2058
Neither 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 or accuracy of this
release.
Cautionary Note Regarding Forward Looking Statements: Certain disclosures in this release
constitute forward-looking information. In making the forward -looking disclosures in this release,
the Company has applied certain factors and assumptions that are based on the Company’s current
beliefs as well as assumptions made by and information currently available to the
Company. Forward-looking information in the release includes the terms and conditions of the
Financing, the use of proceeds of the Financing, the timing and ability of the Company to obtain final
approval of the Financing from the TSX Venture Exchange, the closing date of the Financing, an
exemption being available under MI 61 -101 and Policy 5.9 of the TSX Venture Exchange from the
minority shareholder approval and valuation requirements, the prospectivity of future exploration
work at Maria Cecilia and Los Chapitos and the receipt of necessary authorizations and approvals .
Although the Company considers these assumptions to be reasonable based on information currently
available to it, they may prove to be incorrect, and the forward-looking information in this release is
subject to numerous risks, uncertainties and other fac tors that may cause future results to differ
materially from those expressed or implied in such forward -looking information. Such risk factors
include, among others, that actual results of the Company’s exploration activities may be different
than those expected by management, that the Financing may not be fully subscribed or completed
on the terms described herein, that the Company may be unable to obtain or will experience delays
in obtaining any required authorizations and approvals and the state of equity and commodity
markets. Readers are cautioned not to place undue reliance on forward -looking statements. The
Company does not intend, and expressly disclaims any intention or obligation to, update or revise
any forward-looking statements whether as a result of new information, future events or otherwise,
except as required by law.