Nittetsu Mining Approves $1.5 Million Second Option Payment for Camino’s Los Chapitos Project; Camino to Commence Drilling at Los Chapitos in December
Suite 1780 – 555 Hastings Street 604-493-2058
Vancouver, BC V6B 4N4, Canada www.caminocorp.com [email protected]
Nittetsu Mining Approves $1.5 Million Second Option Payment for
Camino’s Los Chapitos Project;
Camino to Commence Drilling at Los Chapitos in December
Vancouver, November 23, 2023 – Camino Minerals Corporation (TSXV: COR) (OTC: CAMZF) (WKN:
A116E1) (“Camino” or the “Company”) is pleased to announce the receipt of confirmation from
exploration partner Nittetsu Mining Co., Ltd. ( “Nittetsu”) that they will contribute their second
option payment of CAD$1.5 million to support the next phase of exploration of Camino’s Los
Chapitos Copper Project (“Los Chapitos” or the “Project”) in Peru.
The exploration program that commenced in June 2023 focussed on mapping, trenching, and
sampling at Los Chapitos to identify the most prospective sites for the upcoming drilling program.
Following an evaluation of the results by the joint Camino – Nittetsu technical committee, the next
phase of the exploration program was approved, and the exploration drilling program is expected
to commence around the third week of December 2023.
The funds constitute the second option payment by Nittetsu under the terms of the Definitive
Agreement ( “Agreement”) that Camino entered into with Nittetsu earlier this year (see news
release dated June 14, 2023). Under the Agreement, Nittetsu can secure a 35% project interest in
Los Chapitos for a total of CAD$10 million, invested over three years.
“We are now funded by our partner Nittetsu to start drilling additional copper oxide targets at our
Los Chapitos copper property in Peru”, said Jay Chmelauskas, President and CEO of Camino. “Drilling
is expected to commence around the third week of December.”
About Camino
Camino is a discovery and development stage copper exploration company. Camino is focused on
advancing its high -grade Los Chapitos copper project located in Peru through to resource
delineation and to add new discoveries. Camino has also permitted the Maria Cecilia copper
porphyry project for a planned exploration drilling program. In addition, Camino has increased its
land position at its copper and silver Plata Dorada project. Camino seeks to acquire a portfolio of
advanced copper assets that have the potential to deliver copper into an electrifying copper
intensive global economy. For more information, please refer to Camino’s website at
www.caminocorp.com.
Jose A. Bassan, MSc. Geologist, an independent geologist FAusIMM (CP) 227922, a qualified person
as defined by National Instrument 43 -101 – Standards of Disclosure for Mineral Projects , has
reviewed and approved the technical contents of this document. Mr. Bassan has reviewed and
verified relevant data supporting the technical disclosure, including sampling and analytical test
data.
Suite 1780 – 555 Hastings Street 604-493-2058
Vancouver, BC V6B 4N4, Canada www.caminocorp.com [email protected]
ON BEHALF OF THE BOARD For further information, please contact:
/S/ “Jay Chmelauskas” Camino Investor Relations
President and CEO [email protected]
Tel: (604) 493-2058
Neither 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.
Cautionary Note Regarding Forward Looking Statements: Certain disclosures in this release
constitute forward-looking information. In making the forward -looking disclosures in this release,
the Company has applied certain factors and assumptions that are based on the Company’s current
beliefs as well as assumptions made by and information currently available to the
Company. Forward-looking information in the release includes the prospectivity of future exploration
work at Los Chapitos , expectations for joint ventures and/or strategic partnerships with respect to
the Company’s properties and the receipt of necessary authorizations and approvals . Although the
Company considers these assumptions to be reasonable based on information currently available to
it, they may prove to be incorrect, and the forward -looking information in this release is subject to
numerous risks, uncertainties and other fac tors that may cause future results to differ materially
from those expressed or implied in such forward -looking information. Such risk factors include,
among others, that actual results of the Company’s exploration activities may be different than those
expected by management, that the Company may not realize the benefits of joint ventures and/or
strategic partnerships with respect to the Company’s properties , that the Company may be unable
to obtain or may experience delays in obtaining any required authorizations and approvals and the
state of equity and commodity markets. Readers are cautioned not to place undue reliance on
forward-looking statements. The Company does not intend, and expressly disclaims any intention or
obligation to, update or revise any forward-looking statements whether as a result of new
information, future events or otherwise, except as required by law.