Camino Minerals Increases the Recently Announced Financing
Suite 500, 666 Burrard Street, Vancouver, B.C. CANADA V6C 3P6
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NEWS RELEASE
#3-2017
January 24, 2017 TSX Venture Symbol: COR
CAMINO MINERALS INCREASES THE RECENTLY ANNOUNCED FINANCING
Camino Minerals Corporation ("Camino" or the "Company") (COR: TSX -V) is pleased
to announce that it has increased the size of the financing announced on January 17,
2017, and that it now intends to raise up to $2,100,000 by way of a private placement, to
fund a Reverse Circulation (“RC”) drill program at its Los Chapitos project
(“Chapitos”), located in southern Peru.
The non- brokered p rivate placement will now consist of up to 10,500,000 units at a
price of $0.20 per unit for aggregate proceeds of up to $ 2,100,000. Each unit will consist
of one common share of the Company and one non -transferable share purchase
warrant. Each warrant wil l entitle the holder to acquire one additional common share
of the Company at a price of $0. 25 per common share for a period of 24 months after
the closing date of the private placement. The warrants will be subject t o an
acceleration right in favo r of the Company: s hould the closing price of the common
shares of the Company on the TSX Venture Exchange be $0. 35 or higher for ten
consecutive trading days, the Company will be entitled to accelerate the expiry of the
warrants to the date that is 30 business days from the date of the issuance of a news
release by the Company announcing the exercise of the acceleration right.
The securities issued under the offering will be subject to a hold period of four months
and finders' fees may be payable in connection wi th the issuance of the securities. The
private placement is subject to applicable regulatory approvals, including the approval
of the TSX Venture Exchange.
Net proceeds of the private placement will be used to fund o ngoing exploration,
including an initia l RC drill program at the Chapitos Project, and for general working
capital.
The Phase 1 RC drill program will focus on the Adriana and Katty zones , located on the
eastern side of the property. The Adriana Zone is exposed over an area measuring 75
meters by 150 meters. Chip sampling over the middle of the zone returned an average
grade of 1.28% copper across 68 meters. Magnetic and IP -DAS geophysical surveys
indicate that the zone is potentially larger than exposed and the surficial oxide
mineralization will transition too sulphides about 250 meters below surface. The Katty
Zone lies along trend about 1 kilometer to the southeast, measures 50 meters by 125
meters and returned average values of up to 3.23% copper across 10 meters.
Interpretation of the magnetic survey data shows a structural connection between the
Adriana and Katty zones. The initial phase of drilling will test below the exposed
surface oxide mineralization and continue to depth into the geophysical anomalies. A
summary presentation of the results from the geophysical surveys, and updated surface
sampling, can be found on the company website at www.caminominerals.com.
Kenneth C. McNaughton, M.A.Sc., P.Eng., the President and Chief Executive Officer of
the Company, is a Qualified Person (QP) and is responsible for the Chapitos Project
exploration program.
About Camino Minerals Corporation
Camino is a discovery -oriented mineral exploration company . The Company is
focused on the acquisition an d development of high gr ade copper and precious metal
projects. For more information, please refer to Camino’s website at
www.caminominerals.com
For further information and investor inquiries, contact:
Ken McNaughton
President and Chief Executive Officer
Phone (604) 566-8778
http://www.caminominerals.com
Cautionary Note Regarding Forward-Looking Statements and Information
This News Release contains “forward -looking information” and “forward looking statements”
within the meaning of applicable Canadian and United States securities legislation. Statements
contained herein that are not based on historical or current fact, including without limitation
statements containing the words “anticipates,” “believes,” “may,” “continues,” “estimates,”
“expects,” and “will” and words of similar import, constitute “forward -looking statements”
within the meaning of the U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking information may include, but is not limited to, information with respect to our
planned exploration activities, the adequacy of our financial resources, the estimation of
mineral reserves and resources, the results of future exploration and drilling. Wherever
possible, words such as “plans”, “expects”, “projects”, “assumes”, “budget”, “strategy”,
“scheduled”, “estimates”, “forecasts”, “anticipates”, “believes”, “intends”, “targets” and similar
expressions or statements that certain actions, events or results “may”, “could”, “would”,
“might” or “will” be taken, occur or be achieved, or the negative forms of any of these terms
and similar expressions, have been used to identify forw ard-looking statements and
information.
Forward-looking information is subject to a variety of known and unknown risks, uncertainties
and other factors that could cause actual events or results to differ from those expressed or
implied by the forward- looking information, including, without limitation, those risks
identified in the Company’s annual disclosure materials, filed with the securities regulatory
authorities in Canada and available at www.sedar.com. Readers are encouraged to read these
materials. Prospective investors should not place undue reliance on forward -looking
information.
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 or accuracy of this release.