El Domo - Curipamba Project is Granted the Environmental License for Construction and Operation
Date:
News Release:
Ticker Symbols:
January 22, 2024
24-01
ADZN (TSXV), ADVZF (OTCQX), SRL (TSXV) SRLZF (OTCQB)
– 1 of 3 –
El Domo - Curipamba Project is Granted the Environmental License for Construction and Operation
Toronto, J anuary 22, 2024 – Adventus Mining Corporation (“Adventus”) (TSX-V: ADZN , OTCQX: ADVZF ) and Salazar
Resources Limited (“Salazar”) (TSX-V: SRL, OTCQB: SRLZF) (collectively the “Participants”) are pleased to announce that
the Ministry of Environment, Water, and Energy Transition of the Government of Ecuador (“ MAATE”) has granted the
Environmental License for the construction and operation of the El Domo-Curipamba project (“Environmental License”).
Christian Kargl-Simard, President and CEO of Adventus , commented: “The granting of the Environmental License is the
culmination of 17 years of diligent effort starting with exploration in 2007 that led to the discovery of the El Domo deposit
in 2008 and included the publication of the NI 43 -101 compliant feasibility study in October 2021. This Environmental
License is a tremendous achievement for our team and stakeholders, who worked tirelessly to transparently advance the
El Domo-Curipamba project. We look forward to building on this significant milestone.”
Fredy Salazar, President and CEO of Salazar, commented: “On behalf of the Salazar team, I would like to take this
opportunity to thank the many people who have been involved each step of the way from initial discovery to today ’s
Environmental License. This approval will allow the construction and operation of El Domo , which will provide a new
generation of opportunities for the people of central Ecuador.”
The environmental licensing process began on November 4, 2021, with the submittal of the Environmental and Social
Impact Assessment (“ ESIA”) and the Environ mental Management Plan (“ EMP”). The 7,000-page ESIA and EMP comply
with Ecuadorian legislation and international best practices which include physical, biotic, socioeconomic, and cultural
baselines, determination of areas of influence, analys es of environmental risks and social and environmental impacts as
well as a plan that comprises the prevention and mitigation of impacts, contingencies, training, waste management,
community relations, rehabilitation of affected areas, wildlife rescue, environmental monitoring, and mine closure.
MAATE issued the technical approval of the ESIA and EMP in May 2022. The final phase of the permitting process, the
Environmental Consultation (“Consultation”), was carried out by MAATE between July and December 2023 pursuant to
the Regulation of the Environmental Organic Code as modified by Presidential Decree 754 and in accordance with
guidelines issued by the Constitutional Court of Ecuador , which incorporate Escaz ú principles and other international
standards related to community participation in development projects. The Consultation was overwhelmingly supported
by the communities in the direct area of influence of the project, with 98% voting in favour of issuing the Environmental
License – see December 27, 2023, news release.
With this important news, the Participants confirm previous guidance on start of construction , and reaffirm their
commitment to responsible, sustainable development in Ecuador through strict compliance with local legislation and
adoption of international best practices. The Participants strive for excellence in all aspects of their operations by putting
responsible environmental stewardship, community participation and development , and technical excellence at the
forefront of all endeavours.
Date:
News Release:
Ticker Symbols:
January 22, 2024
24-01
ADZN (TSXV), ADVZF (OTCQX), SRL (TSXV) SRLZF (OTCQB)
– 2 of 3 –
About Adventus
Adventus Mining Corporation is an Ecuador-focused copper-gold exploration and development company. Adventus Mining is majority
owner of the 215 sq. km Curipamba copper -gold project, which has a completed feasibility study on the shallow and high- grade El
Domo deposit. In addition, Adventus Mining is engaged in a country-wide exploration alliance in Ecuador, which has incorporated the
Pijili and Santiago copper-gold porphyry projects to date. Outside of Ecuador, Adventus Mining owns an exploration project po rtfolio
in Ireland with South32 Limited as the funding participant. Its strategic shareholders include Altius Minerals Corporation, G reenstone
Resources LP, Wheaton Precious Metals Corp., and significant Ecuadorian shareholders. Adventus Mining is based in Toronto, Canada,
and is listed on the TSX Venture Exchange under the symbol ADZN and trades on the OTCQX under the symbol ADVZF.
About Salazar
Salazar Resources Limited is focused on creating value and positive change through discovery, exploration, and development in
Ecuador. The team has an unrivalled understanding of the geology in-country and has played an integral role in the discovery of many
of the major projects in Ecuador, including the two newest operating gold and copper mines. Salazar Resources has a wholly ow ned
pipeline of copper-gold exploration projects across Ecuador with a strategy to make another commercial discovery and farm-out non-
core assets. The Company actively engages with Ecuadorian communities and together with the Salazar family it co -founded The
Salazar Foundation, an independent non- profit organization dedicated to sustainable progress through economic development. Th e
Company already has carried interests in three projects. At its maiden discovery, Curipamba, Salazar Resources has a 25% stak e fully
carried through to production. At two copper -gold porphyry projects, Pijili and Santiago, the Company has a 20% stake ful ly carried
through to a construction decision.
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.
This release contains certain “forward looking statements” and certain “forward- looking information” as “defined under applicable Canadian and
U.S. securities laws. Forward -looking statements and information can generally be identified by the use of forwar d-looking terminology such as
“may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. The forward -looking
information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating
to the future. Readers are cautioned that such information may not be appropriate for other purposes.
Forward-looking statements relate to future events or future performance and reflect the Participants expectations or beliefs regarding future events.
Forward-looking statements include, but are not limited to: the discussions regarding strategies for the development of El -Domo; the adoption of a
strategy and the timing thereof; the obtaining of key approvals, permits and environmental licensing approval for the El-Domo and the timing thereof;
the start of construction at El Domo and the timing thereof; and the timing and resolution of the Court . By their very nature, forward -looking
statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be
materially different from any future results, performance or achievements expressed or implied by the forward- looking statements. Such factors
include, amongst others, risks related to the exploration, development, production, recoveries and other anticipated or possible future developments
at El Domo, including, without limita tion, that exploration, development and production activities will not occur or be as anticipated and that
environmental licensing will not be approved; failure to obtain the environmental licensing approval for the El -Domo along with other key permits
and approvals and to start construction; the Court will not have a favorable ruling or in the expected time period ; and general economic, business
and political conditions.
Forward-looking information are based on management of the parties' reasonable assumptions, estimates, expectations, analyses and opi nions,
which are based on such management's experience and perception of trends, current conditions and expected developments, and other factors that
management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Such factors, among other things,
include: business integration risks; fluctuations in general macroeconomic conditions; f luctuations in securities markets; fluctuations in spot and
forward prices of copper or certain other commodities; change in national and local governments, legislation, taxation, contr ols, regulations and
political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including
environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); discrepancies between actual and
estimated metallurgical recoveries; inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may
impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populati ons; availability of
increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (inc luding the risks of
obtaining necessary licenses, permits and approvals from government authorities); and title to properties.
Date:
News Release:
Ticker Symbols:
January 22, 2024
24-01
ADZN (TSXV), ADVZF (OTCQX), SRL (TSXV) SRLZF (OTCQB)
– 3 of 3 –
The Participants undertake no obligation to update forward- looking information except as required by applicable law. Such forward- looking
information represents management's best judgment based on the information currently available. No forward-looking statement can be guaranteed
and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward -looking statements or
information.
For further information from Adventus Mining, please contact Christian Kargl- Simard, President and Chief Executive
Officer, at +1 -416-230-3440 or [email protected]. Please also visit the Adventus Mining website at
www.adventusmining.com.
For further information from Salazar Resources, please contact Freddy D. Salazar, Manager – Corporate Development, at
+593 98 548 9355 or [email protected]. Please also visit the Salazar Resources website at
www.salazarresources.com.