MONTREAL, QC / ACCESSWIRE / January 10, 2017 / Cyprium Mining Corporation (TSX-V: CUG) (OTC PINK: DFCPF) ("Cyprium" or the "Company") announces the appointment of Mr. Patrick Tributsch as director. Mr. Tributsch is currently Executive Director for UBS Switzerland. He has studied economics and corporate finance whilst specializing in the banking industry. Mr. Tributsch started his career in the banking industry in 1993. The board of directors now consists of Mr. Alain Lambert, Adrian Morger and Patrick Tributsch. Trading in the Company's common shares on the TSX Venture Exchange had been recently halted, given the fact that the Company only had two directors.
As of December 31st, 2016, Cyprium had invested approximately US $1.7 million in the Potosi silver mine joint venture. As per the Company's disclosure in its July 28th and October 30th, 2016 news releases, Cyprium had to invest US $2.5 million in order to retain its initial ownership of 53%. Given the investments made as of December 31st, 2016, the Company expects, subject to the investments made being audited in accordance to the joint venture agreement, to be approximately 36%. Under the terms of the joint venture agreement, Cyprium can elect to increase its ownership in the joint venture by making further investments. Cyprium continues to evaluate financing opportunities in order to continue to fund the development of the Potosi mine located in the State of Chihuahua in Northern Mexico.
About Cyprium Mining Corporation
For the description of Cyprium Mining's business and the Company's Forward-Looking Statement Disclaimer, which form an integral part of this news release, please visit our website at:
http://www.cypriummining.com/en/investors/disclaimers
For further information, please contact:
Alain Lambert, Chairman and C.E.O.
Email: [email protected]
Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward -looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate," "believe," "expect," "plan," "intend," "potential," "estimate," "propose," "project," "outlook," "foresee," or similar words suggesting future outcomes or statements regarding an outlook. Such statements include, among others, those concerning the Company's anticipated plans for developments of the Company and its mining projects.
Such forward-looking information or statements are based on a number of risks, uncertainties, and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management's expectations regarding future growth, plans for and completion of projects by Company's third party relationships, availability of capital, and the necessity to incur capital and other expenditures. Actual results could differ materially due to a number of factors, including, without limitation, operational risks in the completion of Company's anticipated projects, delays, or changes in plans with respect to the development of Company's anticipated projects by Company's third party relationships, risks affecting the ability to develop projects, risks inherent in operating in foreign jurisdictions, the ability to attract key personnel, and the inability to raise additional capital. No assurances can be given that the efforts by the Company will be successful. Additional assumptions and risks are set out in detail in the Company's MD&A, available on SEDAR at www.sedar.com.
Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company's securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law. Investors should also note that the Potosi silver mine and La Chinche property have no established mineral resources or mineral reserves as defined by NI 43-101.
