President of Ecuador Signs Environmental Consultation Decree Clearing the Path for the Final Stage of Environmental Licensing for El Domo - Curipamba Project
Date:
News Release:
Ticker Symbols:
June 1, 2023
23-08
ADZN (TSXV), ADVZF (OTCQX), SRL (TSXV) SRLZF (OTCQX)
– 1 of 2 –
President of Ecuador Signs Environmental Consultation Decree
Clearing the Path for the Final Stage of Environmental Licensing for El Domo - Curipamba Project
Toronto, June 1, 2023 – Adventus Mining Corporation (“Adventus”) (TSX-V: ADZN , OTCQX: ADVZF ) and Salazar
Resources Limited (“Salazar”) (TSX-V: SRL, OTCQX: SRLZF) (collectively the “ Participants”) are pleased to announce that
the President of Ecuador has signed the new environmental consultation regulation decree (the "Decree") in compliance
with the Ecuadorian Constitutional Court decision. This Decree applies to activities in all sectors and enterprises in Ecuador
requiring environmental licenses and will govern the formal consultation process required for all Environmental and Social
Impact Assessments (“ESIA”). For the El Domo - Curipamba Project (“El Domo”), this Decree allows El Domo to move to
the next step of the environmental licensing proc ess, which follows the technical ESIA approval granted by the
Government of Ecuador in May 2022 (see May 31, 2022, Adventus news release).
The Decree lays out the steps for the new environmental consultation process, including two rounds of formal community
consultations led by the Government of Ecuador. These community consultations are expected to be similar to the many
community consultations led by the Participants since the discovery of El Domo deposit in 2008 . Current guidance from
the Government of Ecuador is that the consultation process is expected to require four to six months to the signing and
issuance of the environmental licence for El Domo construction. This suggests that full construction activities could
therefore begin as early as in October 2023.
During this period, the Participants expect to finalize four other necessary permits for construction to begin, including: (a)
Water No Affect Permit (for discharge and covering potential impact to any water sources), (b) Water Usage Permit
(surface water capture during construction), (c) Tailings Dam and Waste Storage Approval Permit ( certificate of technical
feasibility in hand), and (d) Explosives Permit. The permits have advanced well through early 2023 with strong government
engagement, which followed the publication of the El Domo feasibility study and submission of the ESIA report in
December 2021.
About Adventus Mining
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 portfolio
in Ireland with South32 Limited as the funding participant. Its strategic shareholders include Altius Minerals Corporation, Greenstone
Resources LP, Wheaton Precious Metals Corp., and the Nobis Group of Ecuador. 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.
Date:
News Release:
Ticker Symbols:
June 1, 2023
23-08
ADZN (TSXV), ADVZF (OTCQX), SRL (TSXV) SRLZF (OTCQX)
– 2 of 2 –
About Salazar
Salazar Resources Limited is focused on creating value and positive change through discovery, explora tion, 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 owned
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 Sal azar family it co- founded The
Salazar Foundation, an independent non- profit organization dedicated to sustainable progress through economic development. The
Company already has carried interests in three projects. At its maiden discovery, Curipamba, Salazar Resources has a 25% stake fully
carried through to production. At two copper -gold porphyry projects, Pijili and Santiago, the Company has a 20% stake fully 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 press release contains "forward -looking information" within the meaning of applicable Canadian securities laws. Forward-looking
statements are based on the beliefs, expectations, and opinions of the management of the Participants as of the date the statement
is published, and the Participants assume no obligation to update any forward-looking statement, except as required by law. In certain
cases, forward–looking statements can be identified by the use of words such as "plans", "expects", "outlook", "guidance", "budget",
"scheduled", "estimates", "forecasts", "intends", "anti cipates" or "believes", or variations of such words and phrases or statements
that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved" or the negative of
these terms or comparable terminology.
Forward-looking information herein includes, but is not limited to, statements that address activities, events, or developments that
Adventus Mining and Salazar expect or anticipate will or may occur in the future. Although Adventus Mining and Salazar ha ve
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 not to be as anticipat ed, estimated, or
intended. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ
materially from those anticipated in such information. Accordingly, readers should not place undue reli ance on forward -looking
information. Adventus Mining and Salazar undertake to update any forward-looking information except in accordance with applicable
securities laws.
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.