Fidelity Minerals Provides Update on Cerro Dorado and Las Brujas Field Program
Fidelity Minerals Provides Update on Cerro Dorado and Las Brujas Field
Program
Vancouver, BC, March 27th, 2020 – Fidelity Minerals Corp. (TSX-V: FMN | FSE: S5GM | SSE:
MNYC) (“Fidelity” or the “ Company”) is pleased to announce the completion of a short field
program at its Las Brujas project, and arrangements made to secure the continuation of the Cerro
Dorado (“CD”) sale process during the COVID-19 societal shutdown in Peru.
A short field program was undertaken to assess local site and access conditions as well as
prospective alteration profiles exposed by recent road access development at the Las Brujas project,
located in the prolific greater Yanacocha District. The field program was guided by results of a
Remote Spectral Geology (RSG) project performed by Rodrigo Díaz of Global RSG . The Project
applied Remote Sensing for the definition of lithology, alteration, mineralization, and structure,
which together with an integrated interpretation of available geoscientific data has led to the
generation of project scale target zones of interest. The identified zones correlate with historically
mapped alteration and geochemical anomalies and newly identified exploration targets.
In order to secure the additional targets beyond the project area, the Company has applied for two
(2) new concessions covering 1,500 ha. The program demobilised prior to the country wide
lockdown declared in Peru on March 15.
Certain project improvements at Cerro Dorado have continued since the last CD related NR (Jan
24, 2020). The Company has agreed to allow the purchaser to defer the scheduled March payment
owing to the Peruvian lockdown, and the purchaser having demonstrated to Fidelity that payment
approval for certain gold production has been halted by the Peruvian tax authority (SUNAT). The
timing on the payment to the Company is expected to immediately follow the lockdown being lifted
and SUNAT processing the export approval application.
About Fidelity Minerals Corp.
Fidelity Minerals Corp. is assembling a portfolio of high -quality mining assets in Peru through the
implementation of our Strategic Project Generator (SPG) model. The project generator model
involves the identification and acquisition of appraisal stage opportunities with near-term valuation
catalysts, including potential for high -impact M&A. The company is backed by an experienced
management team with diverse technical, market, and commercial expertise and is supported by
committed and sophisticated investors focused on building long term value.
On behalf of the Board of Fidelity Minerals;
Ian Graham
CEO and Director
Tel: +1.604.671.1353
Email: [email protected]
Investor Contact:
Bahay Ozcakmak
Executive Chairman
Tel: +61.3.9236.2800
Email: [email protected]
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 NEWS RELEASE.
Disclaimer & Forward -Looking Statements: This news release contains forward -looking statements.
Forward-looking statements are statements that relate to future events or future financial performance. In some
cases, you can identify forward-looking statements by the use of terminology such as “may”, “should”, “intend”,
“expect”, “plan”, “anticipate”, “believe”, “estimate”, “project”, “predict”, “potential”, or “continue” or the
negative of these terms or other comparable terminology. These statements speak only as of the date of this news
release. This news release may also contain inferences to future oriented financial information (“FOFI”) within
the meaning of applicable securities laws. The information in this news release has been prepared by our
management to provide a context for the acquired projects and the registration of title and to provide the reader
with an outlook for our future activities and anticipated focus projects and may not be appropriate for other
purposes. Forward-looking statements in this announcement include, (but are not limited to), anticipated cash
payments to be received from the Cerro Dorado purchaser following the lockdown being lifted and SUNAT
processing the export approval application , and the expectation that through the Strategic Project Generator
model Fidelity Minerals is positioning itself to be a beneficiary in this environment of increased appetite for
prospective projects in th e Peru region. The implication that the Company’s initiatives will indi vidually or
collectively be successful comprise forward looking statements.