Camino Minerals Increases the Recently Announced Financing
Suite 500, 666 Burrard Street, Vancouver, BC V6C 3P6
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NEWS RELEASE
#13-2017
May 3, 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 May 2, 2017,
and that it now intends to raise up to $5,035,000 by way of a private placement, to fund
the Phase 2 drill program at its Los Chapitos project (“Chapitos”), located in southern
Peru.
The non-brokered private placement will consist of up to 5,300,000 units at a price of
$0.95 per unit for aggregate proceeds of up to $ 5,035,000. Each unit will consist of one
common share of the Company and one non-transferable share purchase warrant. Each
warrant will entitle the holder to acquire one additional common share of the
Company at a price of $1 .35 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 $2.00 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 with the issuance of the securitie s. 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 the Phase 2 diamond drill program at the Chapitos Project and for general
working capital.
The Phase 1 Reverse Circulation (“RC”) drill program totaled five holes and focused on
the Adriana Zone, one of several zones located along a 6 kilometer long trend on the
eastern side of the property. All five RC holes intersected varying amounts of oxide
copper mineralizat ion. Holes CHR -002 and CHR -005 also intersected sulphide
mineralization averaging 1.30% copper over 106 meters, including 2.12% copper over 38
meters, and 0.86% copper over 44 meters, i ncluding 1.85% copper over 16 meters,
respectively. The RC drill program was suspended due to significant hole deviations
and drill cutting returns averaging 70%. A diamond drill has been contracted to
complete the Phase 2 program and is scheduled to beg in work in early May. This
program is expected to include drilling a twin for hole CHR -002, and completing the
initial test of the Katty Zone, which lies 1 kilometer east of the Adriana Zone. Assays
will be release as they become available.
A summary pre sentation, including drill plans and sections, can be found on the
company website at www.caminominerals.com.
Kenneth C. McNaughton, M.A.Sc., P.Eng., is the Qualified Person (QP) responsible for
the Chapitos project.
About Camino Minerals Corporation
Camino is a discovery -oriented mineral exploration company . The Company is
focused on the acquisition and 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 sta tements”
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 “p lans”, “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 forward -looking statements and
information.
Forward-looking information is subject to a variety of known and unkn own 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 mate rials, 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.