Camino Minerals Raises $5,035,000 to Fund Drilling at Los Chapitos Project
Suite 500, 666 Burrard St, Vancouver, BC V6C 3P6
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NEWS RELEASE
#15-2017
June 1, 2017 TSX Venture Symbol: COR
CAMINO MINERALS RAISES $5,035,000
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 $5,035,000 which will be used to fund the Phase 2 drill program at its Los Chapitos
project (“Chapitos”), located in southern Peru, and for general working capital.
The non-brokered private placement consisted of 5,300,000 units at a price of $0.95 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 October 1 , 2017. Each
warrant will entitle the holder to acquire one additional common share of the
Company at a price of $ 1.35 per common share until May 30, 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 $ 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 Company paid $241,670 in cash and issued 254,389 warrants (“Finder`s Warrants”)
to finders in respect of the placement. Each Finder’s Warrant is subject to a hold period
expiring on October 1 , 2017 and will be exercisable into one common share of the
Company at a price of $1.35 per share until May 30, 2019. The Finder’s Warrants will be
subject to the same acceleration clause as the private placement warrants.
The Phase 2 drill program commenced in mid -May, and will now total at least 3,000
meters of diamond drilling. The first drill was set up on the Adriana Zone and will
initially complete a twin hole located next to CHR-002, which intersected 1.30% copper
over 106 meters, including 2.12% copper over 38 meters . A second diamond drill has
been mobilized to the property and is set up to test the Katty Zone , located one
kilometer southeast of the Adriana Zone. Drill results will be release d as they become
available. A summary presentation 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 Compan y, 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 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 fac t, 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 resourc es, 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 statement s 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, inclu ding, 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.