Toronto, December 15, 2016 – Minera Alamos Inc. (TSX-V:MAI) (the “Company” or “Minera Alamos”) is pleased to announce that it has engaged CSA Global Canada Geosciences Ltd. (“CSA Global”) to undertake a Preliminary Economic Assessment of the La Fortuna gold project located in the State of Durango, Mexico and prepare a technical report for the project in accordance with National Instrument 43-101 (the “PEA”).
CSA Global will be working with Minera Alamos to review, and utilize where practical, the analysis and assessments completed by the Company over the past eight months. A preliminary review of this work has now been completed by CSA Global with a schedule to release the PEA near the end of January 2017.
“We hold very high expectations for this project and look forward to providing our investors with a clearer examination of its value”, said Chris Frostad, CEO of Minera Alamos. “Once the PEA is released, we will move quickly to upgrade the study to a pre-feasibility level of compliance for release in Q2 of next year”.
“We believe the project will benefit significantly from the engineering work the company has completed over the past number of months”, said Darren Koningen, President of Minera Alamos. “Through progressive phases of metallurgical analysis, we have continued to find practical approaches to simplify further the development of the La Fortuna project”.
CSA Global is a leading mining, geological, technology and management consulting company with international offices spread across the Americas, Australia, Africa, Asia, and Europe. CSA Global is Minera Alamos’ independent engineering consultant, and the CSA Global personnel who will author/supervise the PEA will be “qualified persons” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Minera Alamos
Minera Alamos is a junior exploration and development company. Its growing high-grade Mexican portfolio currently includes the La Fortuna open pit gold project in Durango and the Los Verdes open pit copper-molybdenum project in Sonora, both currently in development.
Mr. Darren Koningen, P. Eng., Minera Alamos’ President, is the Qualified Person responsible for the technical content of this press release under National Instrument 43-101. Mr. Koningen has supervised the preparation of, and approved the scientific and technical disclosures in this news release.
Cautionary Note Regarding Forward?Looking Statements
This press release contains "forward looking statements" and "forward-looking information" under applicable Canadian securities laws. Forward-looking information includes, but is not limited to, information with respect to the proposed transaction, timing of the closing of proposed transaction and the Company’s consideration of the proposed production plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "estimates", "intends", "anticipates" or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made at the date that such statements are made.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including the risk factors disclosed elsewhere in the Company's public disclosure. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained herein is presented for the purposes of assisting readers in understanding the Company's plans and objectives and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information please contact:
Minera Alamos Inc.
Chris Frostad
(416) 306-0990
www.mineraalamos.com
