Peruvian Metals Corp. Provides Corporate Update
Peruvian Metals Corp. Provides Corporate
Update
Edmonton, Alberta--(Newsfile Corp. - March 11, 2025) -
Peruvian Metals Corp (TSXV: PER)
(OTCQB: DUVNF)
("Peruvian Metals" or the "Company") comments on certain market activity during
2024, two-month production results for January and February 2025 at its 80-per-cent-owned Aguila
Norte processing plant (the "Aguila Norte Plant") located in Northern Peru, as well as its business focus
going forward.
During the first quarter of 2025, the Company attended two Canadian investment conferences and
exhibited at the world's largest mining conference, the Prospectors and Developers Association of
Canada ("PDAC") in the first week of March. During PDAC, management of Peruvian Metals received
several inquiries regarding the share price of the Company. Management feels that it is important that
shareholders understand that, according to Tartisan Nickel Corp.'s ("Tartisan") publicly filed interim
financial report filed March 3
rd
, 2025 (the "Report"), Tartisan sold 26,620,500 shares of the Peruvian
Metals common shares held by it during the 9-month period ending December 31st, 2024. The Report
further notes that as of March 31
st
, 2024, Tartisan Nickel held 26.69% of the outstanding common
shares of Peruvian Metals while as at December 31, 2024, Tartisan held only 2.81% of the outstanding
common shares. Tartisan noted in the Report that "….[Tartisan] continuously sells the [Peruvian Metals]
shares to meet cash flow requirements…".
The Company believes that the sale of these Peruvian Metals
common shares by Tartisan over the nine-month period ended December 31, 2024 had an adverse
effect on the Peruvian Metals share price.
Peruvian Metals notes that the Company is financially strong with good cash flow. Please see the
Company's publicly filed documents on
www.SEDARPLUS.ca
for further information. The Company
intends to move into the Peruvian gold space by focusing on its 100% owned Au-Ag-Cu Palta Dorada
Project located in Northern Peru. The Palta Dorada property is located in northern Peru with good
access to the Aguila Norte Plant and contains high-grade gold both in oxide and sulphide material. The
Company re-established access roads to the underground workings in late 2024 and early 2025.
Peruvian Metals is currently reviewing other gold opportunities in the area for additional mineral feed for
the Aguila Norte Plant as well as a possible location for a future carbon-in-pulp (CIP) plant. There can be
no assurances that the Palta Dorada property contains economically extractable mineralization or that a
CIP plant can or will be built by Peruvian Metals. Please see "Disclosure Regarding Forward-Looking
Statements" below.
The Company is also pleased to note that in the first 2 months of 2025 the Plant processed 6,108 tonnes
of wholly owned and third-party mineral which exceeds the 4,508 tonnes processed in 2024 and 4,441
tonnes processed in 2023 and represents an increase of 35.49% compared to 2024.
Qualified Person
Jeffrey Reeder, P. Geo., is the Qualified Person, as defined in National Instrument 43-101
Standards of
Disclosure for Mineral Projects
, who has reviewed and approved the technical contents of this press
release.
About Peruvian Metals Corp.
Peruvian Metals Corp. is a Canadian exploration and mineral processing company. Our business model
is to provide clients with toll milling services and produce high-grade marketable concentrates from
mineral purchases. The Aguila Norte processing plant has an environmental permit ("IGAC") from the
Peruvian government which provides the Company with the ability to expand operations past the current
100 tonnes per day level. The Company continues to acquire and develop precious and base metal
properties in Peru.
For additional information, contact:
Jeffrey Reeder, C.E.O.
Telephone: (647) 302-3290
:
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 release.
Disclosure Regarding Forward-Looking Statements:
This press release contains certain "forward-
looking information" within the meaning of applicable securities legislation. We use words such as
"intends",
"might", "will", "should", "anticipate", "plan", "expect", "believe", "estimate", "forecast" and
similar terminology to identify forward looking statements and forward-looking information. Examples of
forward-looking statements include the Company's plans to move into the Peruvian gold space, to
acquire additional mineral properties or to build a CIP plant. Such statements and information are based
on assumptions, estimates, opinions, and analysis made by management in light of its experience,
current conditions and its expectations of future developments as well as other factors which it believes
to be reasonable and relevant. Forward-looking statements and information involve known and unknown
risks, uncertainties and other factors that may cause our actual results to differ materially from those
expressed or implied in the forward-looking statements and information and accordingly, readers should
not place undue reliance on such statements and information. Risks and uncertainties are more fully
described in our annual and quarterly Management's Discussion and Analysis and in other filings made
by us with Canadian securities regulatory authorities and available under the Company's profile at
www.sedarplus.ca.While the Company believes that the expectations expressed by such forward-looking
statements and forward-looking information and the assumptions, estimates, opinions, and analysis
underlying such expectations are reasonable, there can be no assurance that they will prove to be
correct. In evaluating forward-looking statements and information, readers should carefully consider the
various factors which could cause actual results or events to differ materially from those expressed or
implied in the forward-looking statements and forward-looking information.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/244085