Fidelity Minerals Receives Exchange Approval for the Acquisition of the Porphyritic Copper Project, Peru
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Fidelity Minerals Receives Exchange Approval for the
Acquisition of the Porphyritic Copper Project, Peru
• Fidelity Minerals to proceed to complete the acquisition of the Project.
• Project expansion efforts underway to consolidate strategic footprint.
Vancouver, BC, May 22, 2019 – Fidelity Minerals Corp. (TSX-V: FMN | FSE: S5GM | SSE:
MNYC) (“Fidelity Minerals” or “the Company”) is pleased to confirm Exchange approval for the
acquisition of the Porphyritic Copper Project announced on April 29, 2019.
The Company will now proceed to complete the acquisition of a 100% interest in the Porphyritic
Copper project located in the district of La Libertad, Northern Peru , by issuing 4,000,000 in
consideration shares, and by making a payment of US$7,000 in cash. Further Milestone Payments
of C$500,000 and C$250,000 are payable if , within 5 years, a NI 43-101 compliant resource of
>500,000T of contained copper is published by Fidelity Minerals (Milestone 1), and/or a transaction
exceeding C$5,000,000 is consummated (Milestone 2), respectively.
The Company is in the process of establishing a subsidiary to hold the 100% interest in the project,
as well as any additional interests which will form part of the expanded project in order to facilitate
the orderly introduction of a joint -venture partner into the project once project evaluation studies
have advanced appropriately.
The Porphyritic Copper Project comprises three contiguous concessions covering 1,200Ha, located
in an active mining and development district in La Libertad, Northern Peru. The project hosts near
surface manifestations of visible copper mineralization, as well as small -scale artisanal workings
developed for the purposes of p roducing small tonnages of gold bearing ore. A recent assessment
of the “Upper” and “Lower” Zones has identified similarities in the type of mineralization hosted at
the two zones that are situated approximately 4,000m apart.
Historical sampling at the p roject indicates grades of 0.36% - 0.66% Cu at the Upper Zone and
higher grades at the Lower Zone including >1% Cu (refer News Release of April 29, 2019).
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.
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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 fut ure 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 project acquisition and to provide the
reader with an outlook for our future activities and anticipated key projects and may not be appropriate for
other purposes. Forward-looking statements in this announcement include, (but are not limited to) the
expectation that through the Strategic Project Generator model Fid elity Minerals is positioning itself to
identify and acquire appraisal stage projects, and that there exists potential for high-impact M&A..