Paran Fails to Honour Commitment to Provide Continuous Access to Invicta
Paran Fails to Honour Commitment to Provide Continuous
Access to Invicta
VANCOUVER, BRITISH COLUMBIA, March 21, 2019 -- Lupaka Gold Corp. (" Lupaka
Gold" or the “Company") (TSX-V: LPK, FRA: LQP) announces that discussions between
the Company and community leaders from the nearby community of Paran (“Paran”) have
been abandoned by the President of Paran. Once again Paran has resumed their illegal
demonstration, preventing the Company from accessing the Invicta Gold Development
Project (“Invicta”). In doing so Paran has failed to honour the agreement signed earlier
in March, which included the commitment to provide continuous and safe access to Invicta
as well as the commencement of a dialogue process.
“We are very disappointed in Paran’s decision to abandon our recent agreement, including
the cancelation of the established dialogue table. We have worked very ha rd to engage
with Paran , in order to find a long -term solution that meets the needs of all of our
community partners.
Unfortunately, they have demanded that all social and economic benefits from Invicta
should go exclusively to the community of Paran, which contradicts the existing community
agreements that the Company has in place with Lacsanga and Santa Domingo . Lupaka
has put forward alternate proposa ls, including investment strategies, however Paran
remains adamant that all benefits must accrue sole ly to their community. When we
insisted Lupaka will continue to honour the Company’s existing community agreements,
the President of Paran abruptly left the dialogue table and reinstated the blockade.”
Will Ansley, President and CEO of Lupaka
As previously announced on October 25, 2018, access to Invicta had been restricted due
to a blockade by community members from the nearby community of Paran. As disclosed
on March 4, 2019 Paran formally agreed to open up the blockade and granted access to
the Invicta site. As a result, the Company agreed to enter into a formal dialogue table in
order to re-establish a positive working relationship with the community.
On March 19, 2019 representatives from the Company met with the community leaders
from Paran to continue negotiations regard ing the Invicta project. Paran abruptly
abandoned the meeting , indicating to their community members that the dialo gue table
they had agreed to would be canceled, and they would restart the illegal blockade
preventing the Company from accessing Invicta . The Company has reported this action
to the Peruvian authorities and will continue to work with the authorities to end this illegal
activity and to restore access to Invicta. We remain open to negotiations and further
dialogues with the Community of Paran, under a framework of respect for all stakeholder’s
interest.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term
is defined in the policies of the TSX Venture Exchange) accepts responsibility for
the adequacy of this news release.
About Lupaka Gold
Lupaka is an active Canadian-based company focused on creating shareholder value
through discoveries and strategic development of its assets in some of the most prolific
mining regions of Peru.
FOR FURTHER INFORMATION PLEASE CONTACT:
Will Ansley, President & C.E.O.
Tel: (416) 862-5257
or visit the Company’s profile at www.sedar.com or its website at www.lupakagold.com
Cautionary Statements Regarding Forward Looking Information
This press release contains forward -looking statements which constitute "forward -looking
information" within the meaning of applicable securities laws, including all statements, trend
analysis and other information relative to anticipated future events or results. All statements, other
than statements of historical fact, included herein are considered forward -looking statements,
including, without limitation, statements relating to: discussions with the Paran and the Peruvian
authorities regarding the lifting of the blockade; the size and timing of the processing of material
from Invicta; the relationship with partner communities.
Forward-looking statements are based on assumptions, estimates and opinions of management at
the date the statements are made and which the Company believes are reasonable. Such
information involves risks and uncertainties, and undue reliance should not be placed on such
information, as unknown or unpredictable factors could have mat erial adverse effects on future
results, performance or achievements of the Company. Among the key factors that could cause
actual results to differ materially from those projected in the forward -looking information are the
following: that discussions with the communities are not productive ; that toll mills do not achieve
planned production. This forward-looking information may be affected by risks and uncertainties in
the regular course of business and due to market conditions. Additional risks are describ ed in the
Company’s annual information form, which is available on SEDAR at www.sedar.com.
Although the Company has attempted to identify important factors that could cause actual actions,
events or results to differ materially from those described in forward-looking information, there may
be other factors that cause actions, events or results to not be as anticipated, estimated or intended.
There can be no assurance that forward -looking information will prove to be accurate, as actual
results and future events could differ materially from those anticipated in such statements. Readers
are cautioned not to place undue reliance on forward -looking information due to the inherent
uncertainty thereof. Lupaka Gold does not undertake any obligation to update forw ard-looking
statements except as required by applicable securities laws. Investors should not place undue
reliance on forward-looking statements.