Camino Minerals to Raise $1 Million to Fund Drill Program at Chapitos Copper Project
Suite 500, 666 Burrard Street, Vancouver, BC V6C 3P6
Phone: 604-566-8778 www.caminominerals.com
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NEWS RELEASE
#2-2017
January 17, 2017 TSX Venture Symbol: COR
CAMINO MINERALS TO RAISE $1 MILLION TO FUND DRILL PROGRAM AT
CHAPITOS COPPER PROJECT
Camino Minerals Corporation ("Camino" or the "Company") (COR: TSX -V) wishes to
announce that it intends to r aise up to $1,000,000 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 private placement will consist of up to 5,000,000 units at a price of
$0.20 per unit for aggregate proceeds of up to $ 1,000,000. 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 $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 with 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 initial 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 a verage
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 Katt y
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.
About Camino Minerals Corporation
Camino is a discovery -oriented mineral exploration company . The Company is
focused on the acquisition and deve lopment 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 forward-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 inf ormation, 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 encou raged 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.