Nittetsu Mining Provides $1.5 Million Third Option Payment for Camino’s Los Chapitos Project
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Nittetsu Mining Provides $1.5 Million Third Option Payment for
Camino’s Los Chapitos Project
Vancouver, June 5, 2023 – Camino Minerals Corporation (TSXV: COR) (OTC: CAMZF) (WKN: A116E1)
(“Camino” or the “Company”) is pleased to announce the receipt of the third option payment of
CAD$1.5 million from exploration partner Nittetsu Mining CO., Ltd. (“Nittetsu”) to support the next
phase of exploration of Camino’s Los Chapitos Copper Project ( “Los Chapitos” or the “Project”) in
Peru. The funds constitute the third option payment by Nittetsu under the terms of the Definitive
Agreement (“Agreement”) that Camino entered into with Nittetsu in 2023 (see news release dated
June 14, 2023). Under the terms of the Agreement, Nittetsu can secure a 35% project interest in Los
Chapitos for a total investment of CAD$10 million, contributed over three years. To date, Nittetsu
has invested a total of CAD$5.5 million into the Los Chapitos copper project.
“Los Chapitos is attracting some of the largest mining companies, such as Rio Tinto, on its borders.
We are working with a highly experienced team of Japanese, Chilean , and Peruvian geologists to
identify new drilling targets ,” said Felix Cornelio, Head of Exploration at Camino. “Our immediate
target is near-surface green oxide copper mantos. We also see the potential for a large sulphide
copper deposit, along deep-seated faults, like the La Estancia.”
Figure 1. Recent geological mapping uncovers green oxide copper outcrops along the La Estancia fault.
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As part of the exploration program, a 1:5000 scale reconnaissance geological mapping campaign will
be carried out in the area known as La Estancia (Figure 2), where the deep-seated fault is projected
along a 12-kilometer corridor with the exploration objective to delimit new stratabound copper -
silver and IOCG type mineralised bodies for follow-up drilling.
The planned Summer/Fall 2024 exploration campaign by the Camino and Nittetsu geological team
will include the development of a new geological model for the Adriana zone, with Nittetsu
conducting a relogging of over 15,000 metres of previous diamond drilling.
In addition to the new geological model, the satellite exploration program at the Diva Trend will
continue with the development of detailed geological mapping at the intersections of the Diva Trend
and Hunarpo faults with the Rumi Puka deep seated fault (Pilar-Maria) to target stratabound Cu-Ag
bodies.
The purpose of this work is to generate new drilling zones for our next drilling campaign which is
scheduled for Fall 2024.
Figure 2. Fault structures controlling copper mineralization at Los Chapitos, Peru.
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
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porphyry project for an 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.
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, future planned drilling programs, prospectivity for copper exploration in new
targets; 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 fa ctors 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 dis claims 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.