Chakana Copper Corp. Provides Corporate and Operational Update
REMO RESOURCES INC.
1430-800 West Pender Street, Vancouver, BC V6C 2V6
Telephone: (604) 638-8063; Fax: (604) 648-8105
NEWS RELEASE
CHAKANA COPPER CORP. PROVIDES CORPORATE
AND OPERATIONAL UPDATE
Vancouver, B.C., January 22, 2018 – Remo Resources Inc. (TSX-V: RER) (the “ Company ”
or “ Remo ”) announces, further to the Company’s news release of October 5 th and December 5 th
2017, in respect of a proposed reverse take-over (t he “ Proposed Transaction ”) with Chakana
Copper Corp. (“ Chakana ”), that Chakana has now completed thirty-two drill holes over its
Soledad Copper Gold Property, Peru, optioned from Condor Resources Inc., for a total of 7,962.7
m out of its original plan of 16,660m. The drill p rogram was initiated in August 2017 and is
ongoing with a single drill rig. The program is currently ahead of schedule and under budget.
Results from the first five holes in Breccia Pipe #1 were reported in news releases October 6 th
and October 25 th , 2017 and are summarized below.
DDH # Azimuth Dip From - To
(m)
Core
length
(m)
Au
g/t
Ag
g/t
Cu %
SDH17-017 360 o -85 o 0.0 146.6 146.6 2.51 48.6 0.77
Including - - 0.0 44.0 44.0 3.92 29.6
Including - - 44.0 146.6 102.6 1.91 56.8 1.1
SDH17-018 297 o -81.5 o 0.0 209.0 209.0 2.22 69.6 0.96
Including - - 0.0 40.0 40.0 4.21 18.6
Including - - 40.0 114.0 74.0 3.31 65.5 1.11
Including - - 145.0 209.0 64.0 0.72 139.1 1.84
SDH17-019 235 o -77.2 o 0.0 21.0 21.0 4.06 24.4 -
And - - 87.0 124.0 37.0 0.80 136.1 2.20
And - - 205.0 230.25 25.25 1.72 221.4 1.64
SDH17-020 54.9 o -86.8 o 0.0 113.0 113.0 3.58 51.5 1.17
Including - - 0.0 43.0 43.0 4.11 31.8
Including - - 43.0 113.0 70.0 3.25 63.6 1.87
SDH17-021 55.2 o -59.9 o 0.0 36.8 36.8 4.42 23.2 -
* The true widths of the mineralized intervals reported in this release are difficult to ascertain and additional drilling will be
required to constrain the geometry of the mineralized zones
All other results are currently embargoed pending c losing of the Proposed Transaction. Samples
are being assayed by ALS, a compliant full-service analytical provider to the global mining
industry. Drilling to date has focused on Breccia Pipes #1 a nd #5 designed to establish the
geometry and grade profile of the mineralization hosted within the pipes.
Additionally, Chakana has submitted its application for a Semi-Detailed Environmental Impact
Assessment (Estudio de Impacto Ambiental Semidetall ado – EIA-SD) to allow for an expended
exploration program that will include drilling a nu mber of additional mineralized breccia pipes
identified at surface, detailed petrography and initial geo-metallurgical testing. A second drill rig
will be added to the project upon receipt of the EIA-SD.
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The Company has received conditional approval from the TSX Venture Exchange to the
completion of the Proposed Transaction and complete d a C$10mm concurrent financing (see
news release dated November 13, 2017. The Company anticipates completion of the Proposed
Transaction by January 31, 2018 and once completed (assuming TSX Venture Exchange final
approval) the Company’s shares (under the name “Cha kana Copper Corp.”) will be listed for
trading on the TSX Venture Exchange under the symbol “ PERU ”.
Chakana’s President and CEO, David Kelley, will be presenting at the AME Roundup in
Vancouver on Wednesday, Jan 24, 2018 (8:30 am - 12: 00 pm) and displaying core in the Core
Shack (Booth 718) on Monday and Tuesday Jan 22 - 23 , 2018. More information about Chakana
is available at www.chakanacopper.com .
Technical information in this news release has been approved by David Kelly, Qualified
Professional – Geology designation from the Mining and Metallurgical Society of America, a
director of Chakana and a Qualified Person as defin ed by NI 43-101 – Standards of Disclosure
for Mineral Projects.
For further information please contact Remo Resourc es Inc. - Stephen Kenwood, President and
CEO at (604) 638-8063 or Chakana Copper Corp. – Dav id Kelley, President and CEO (720)
233-2166
ON BEHALF OF THE BOARD
(signed) “ Stephen Kenwood ”
Stephen Kenwood
President and CEO
Neither TSX Venture Exchange nor its Regulation Ser vices Provider (as that term is defined in
the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Completion of the Proposed Transaction is subject t o a number of conditions, including but not
limited to, Exchange acceptance and if applicable p ursuant to Exchange Requirements, majority
of the minority shareholder approval. Where applic able, the Proposed Transaction cannot close
until the required shareholder approval is obtained . There can be no assurance that the
Proposed Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed i n the management information circular or
filing statement to be prepared in connection with the Proposed Transaction, any information
released or received with respect to the Proposed T ransaction may not be accurate or complete
and should not be relied upon. Trading in the secu rities of a capital pool company should be
considered highly speculative.
The Exchange has in no way passed upon the merits o f the Proposed Transaction and has
neither approved nor disapproved the contents of this press release .
This news release contains forward-looking statemen ts relating to the timing and completion of
the Proposed Transaction, the future operations of the Company, Chakana, and the Resulting
Issuer and other statements that are not historical facts. Forward-looking statements are often
identified by terms such as "will", "may", "should" , "anticipate", "expects" and similar
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expressions. All statements other than statements o f historical fact, included in this release,
including, without limitation, statements regarding the Proposed Transaction and the future
plans and objectives of the Company, Chakana, and t he Resulting Issuer are forward-looking
statements that involve risks and uncertainties. Th ere can be no assurance that such statements
will prove to be accurate and actual results and fu ture events could differ materially from those
anticipated in such statements. Important factors t hat could cause actual results to differ
materially from the Company's, Chakana’s, and the R esulting Issuer’s expectations include the
failure to satisfy the conditions to completion of the Proposed Transaction set forth above and
other risks detailed from time to time in the filin gs made by the Company, Chakana, and the
Resulting Issuer with securities regulations.
The reader is cautioned that assumptions used in th e preparation of any forward-looking
information may prove to be incorrect. Events or ci rcumstances may cause actual results to
differ materially from those predicted, as a result of numerous known and unknown risks,
uncertainties, and other factors, many of which are beyond the control of the Company,
Chakana, and the Resulting Issuer. As a result, the Company, Chakana, and the Resulting Issuer
cannot guarantee that the Proposed Transaction will be completed on the terms and within the
time disclosed herein or at all. The reader is caut ioned not to place undue reliance on any
forward-looking information. Such information, although considered reasonable by management
at the time of preparation, may prove to be incorre ct and actual results may differ materially
from those anticipated. Forward-looking statements contained in this news release are expressly
qualified by this cautionary statement. The forward -looking statements contained in this news
release are made as of the date of this news releas e and the Company, Chakana, and the
Resulting Issuer will update or revise publicly any of the included forward-looking statements as
expressly required by Canadian securities law.