Further to its news release dated
February 16, 2012, Karmin Exploration Inc. (“Karmin“) (TSXV: KAR) is pleased to announce that the Peruvian Superintendence
of the Securities Market has approved the listing of Karmin’s common
shares for trading on the Bolsa de Valores de Lima. The common shares
are expected to be begin trading on the Bolsa de Valores de Lima on
Monday, June 25, 2012. KALLPA Securities Sociedad Agente de Bolsa S.A.
acted as Karmin’s sponsoring broker for the listing.
Karmin’s Chief Executive Officer, David Brace, stated “We are very
pleased to have obtained this important listing. Currently, over 30% of
Karmin’s common shares are held by South American investors. As the
Bolsa de Valores de Lima is the third largest stock exchange in Latin
America, we believe that Karmin’s listing will significantly increase
Karmin’s exposure to current and potential investors in South America
and will represent a vital step in Karmin’s continued exploration and
development of its projects in Peru and Brazil.”
About Karmin
The common shares of Karmin are listed on the TSX Venture Exchange and
trade under the symbol “KAR” and are expected to commence trading on
the Bolsa de Valores de Lima on Monday June 25, 2012. The principal
business of Karmin is to acquire, explore and develop resource
properties.
Karmin owns 100% of the 25-square-kilometre Cushuro Gold Project located
in the world-class Alto Chicama gold-mining district of northern Peru.
Karmin owns 100% of the Aripuanã Gold-Silver Project, which encompasses
the gold and silver mineralization associated with near-surface
oxidized portions of numerous massive-sulphide deposits in the
820-square-kilometre Aripuanã Zinc Project in north-western Brazil.
Karmin owns 30% of the Aripuanã Zinc Project, one of the largest
undeveloped zinc projects in Brazil. The Aripuanã Zinc Project covers a
mineralized massive-sulphide district that includes five areas of
mineralization (Ambrex, Arex, Babacu, Massaranduba and Mocoto) over a
25- kilometre strike length. A technical report completed by AMEC
International (Chile) S.A. in accordance with National Instrument
43-101-Standards of Disclosure for Mineral Projects in 2007 (available on SEDAR, www.sedar.com) states that the Ambrex
deposit has indicated resources of 18.3 million tonnes grading 4.0%
zinc, 1.5% lead, 0.18 g/t gold and 35.6 g/t silver. The Arex deposit
has indicated resources of 9.4 million tonnes grading 2.5% zinc, 1.0%
lead, 0.45 g/t gold and 34.7 g/t silver. Votorantim owns 70% of the
Aripuanã Zinc Project, but assumes 100% of the project costs until the
completion of a bankable feasibility study
Disclaimer Relating to Forward-Looking Information
This news release contains forward-looking statements that are based on
the belief of management and reflect Karmin’s current expectations.
Forward-looking statements include, but are not limited to, possible
events and statements. The words “plans,” “expects,” “is expected,”
“scheduled,” “estimates,” “forecasts,” “projects,” “intends,”
anticipates,” or “believes,” or variations of such words and phrases or
statements that certain actions, events or results “may,” “could,”
“would,” “might,” or “will be taken,” “occur,” and similar expressions
identify forward-looking statements. The forward-looking statements
and information in this press release include, but are not limited to,
the date upon which the common shares of Karmin are listed on the Bolsa
de Valores de Lima, information relating to the business plans of
Karmin and the anticipated benefit to Karmin resulting from the listing
on the Bolsa de Valores de Lima, including access to capital and the
exploration and development of its projects. Such statements and
information reflect the current view of Karmin with respect to risks
and uncertainties that may cause actual results to differ materially
from those contemplated in those forward-looking statements and
information.
Such statements are not historical facts. Readers are cautioned not to
place undue reliance on forward-looking statements, as there can be no
assurance that the plans, intentions or expectations upon which they
are based will occur. By their nature, forward-looking statements
involve numerous assumptions, known and unknown risks and
uncertainties, both general and specific, that contribute to the
possibility that the predictions, forecasts, projections in the
forward-looking statements will not occur, and that actual performance
and results in future periods may
differ materially from any estimates or projections of future
performance or results expressed or implied by such forward-looking
statements.
The Cushuro Gold Project, the Aripuanã Gold-Silver Project and the
Aripuanã Zinc Project and the land they relate to are exploration
properties only. Accordingly, there are a number of important factors
that could cause Karmin’s actual results to differ materially from
those indicated or implied by forward-looking statements and
information. Such factors include, among others, the timing and content
of work programs, results of the development of mineral properties, the
interpretation of drilling results and other geological data, the
uncertainties of resource and reserve estimates, receipt and security
of mineral property titles, receipt of licenses to conduct mining
activities, project cost overruns or unanticipated costs and expenses,
fluctuations in metal prices and general market and industry
conditions, changes in national and local government legislation,
taxation, controls, policies and regulations, the security of personnel
and assets, and political or economic developments in Canada, Peru and
Brazil, operating or technical difficulties in connection with mining
or development activities, employee relations, the speculative nature
of mineral exploration and development and the 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.
Karmin cautions that the foregoing list of material factors is not
exhaustive. When relying on Karmin’s forward-looking statements and
information to make decisions, investors and others should carefully
consider the foregoing factors and other uncertainties and potential
events. Karmin has assumed a certain progression of events which may
not be realized. It has also assumed that the material factors referred
to in the previous paragraph will not cause such forward-looking
statements and information to differ materially from actual results or
events. However, the list of these factors is not exhaustive and is
subject to change and there can be no assurance that such assumptions
will reflect the actual outcome of such items or factors.
The forward-looking statements contained in this news release are made
as of the date of this news release. Readers should not place undue
importance on forward-looking information and should not rely upon this
information as of any other date. Except as required by law, Karmin
disclaims any intention and assumes no obligation to update or revise
any forward-looking statements, whether as a result of new information,
future events or otherwise. Additionally, Karmin undertakes no
obligation to comment on the expectations of, or statements made by,
third parties in respect of the matters discussed above.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
SOURCE Karmin Exploration Inc.