Camino Minerals Raises $2,100,000 to Fund Drilling at Los Chapitos Project
Suite 500, 666 Burrard St, Vancouver, BC V6C 3P6
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NEWS RELEASE
#4-2017
February 15, 2017 TSX Venture Symbol: COR
CAMINO MINERALS RAISES $2,100,000
TO FUND DRILLING AT LOS CHAPITOS PROJECT
Camino Minerals Corporation ("Camino" or the "Company") (COR: TSX -V) is pleased
to announce that it has completed a non-brokered private placement for gross proceeds
of $ 2,100,000 which will be used to fund an initial Reverse Circulation (“RC”) drill
program at its Los Chapitos project (“Chapitos”), located in southern Peru, and for
general working capital.
The non-brokered private placement consisted of 10,500,000 units at a price of $0.20 per
unit, each unit being comprised of one common share and one non -transferable share
purchase warrant. The common shares, warrants and any shares issued on the exercise
of warrants are subject to a four month hold period expiring June 15, 2017 . Each
warrant will entitle the holder to acquire one additional common share of the
Company at a price of $0.25 per common share until February 14, 2019. The warrants
are subject to an acceleration right in favor of the Company: should 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 th e 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 Company paid $ 94,700 in cash and issued 473,500 warrants (“Finder`s Warrants”)
to finders in respect of the placement. Each Finder’s Warrant is subject to a hold period
expiring on June 15, 2017 and will be exercisable into one common share of the
Company at a price of $0. 25 per share until February 14, 2019 . The Finder’s Warrants
will be subject to the same acceleration clause as the private placement warrants.
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. C hip 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 t oo 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 Co mpany, 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 and development of h igh grade 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 res ources, 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 forward -looking state ments 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, i ncluding, 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 re ad 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.