Process Plant Construction Permit Granted for Bear Creek Mining's Corani Project
TSX VENTURE: BCM
VANCOUVER, June 27, 2018 /CNW/ - Bear Creek Mining Corporation ("Bear Creek" or the "Company") (TSXV: BCM) (BVL: BCM) is pleased to announce that the Process Plant Construction Permit for the Company's Corani silver-lead-zinc project has been granted by the Peruvian Ministry of Energy and Mines ("MEM"). With this approval, the Corani project is now fully permitted.
The Process Plant Construction Permit authorizes construction of the Corani process plant, waste and tailings co-disposal facilities, water storage system and auxiliary buildings including a laboratory, internal energy system and other complementary structures. Approval of this portion of the Construction Permit follows the Company's receipt of the Mine Construction Permit and Accreditation of Water Availability granted by the MEM and the Ministry of Agriculture, respectively, as announced on May 10, 2018. Together with the approved Corani Environmental Permit (the "ESIA"), the Accreditation of Water Availability and Construction Permit, now fully approved, pave the way for future development of the Corani mine.
Tony Hawkshaw, President and CEO, states, "We are very pleased to have received the final key permit for construction of the Corani mine. We are currently advancing the Corani project by undertaking Phase 2 Detailed Engineering with the assistance of Ausenco Engineering and by continuing our well-established and productive community and environmental initiatives. Early works projects, including the construction of Corani camp facilities and an access road from the camp to the project area, are expected to commence later this year. Our Board of Directors will consider a Corani construction decision when a compelling project financing structure is arranged."
On behalf of the Board of Directors,
President and CEO
Caution Regarding Forward Looking Information
This news release contains forward-looking statements regarding: the Company's planned work programs for the Corani project during 2018; and the conditions under which the Company may consider a construction decision for the Corani project. These forward-looking statements are provided as of the date of this news release, or the effective date of the documents referred to in this news release, as applicable, and reflect predictions, expectations or beliefs regarding future events based on the Company's beliefs at the time the statements were made, as well as various assumptions made by and information currently available to them. Although management considers these assumptions to be reasonable based on information available to it, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions on which they are based do not reflect future experience. We caution readers not to place undue reliance on these forward-looking statements as a number of important factors could cause the actual outcomes to differ materially from the expectations expressed in them. These risk factors may be generally stated as the risk that the assumptions and estimates expressed above do not occur, but specifically include, without limitation, risks relating to: the nature of work planned pursuant to the Company's existing permits; the Company's ability to secure financing, on favourable terms, to construct the Corani mine; sufficiency of the Company's working capital to complete its anticipated work programs; and the additional risks described in the Company's latest Annual Information Form, and other disclosure documents filed by the Company on SEDAR. The foregoing list of factors that may affect future results is not exhaustive. When relying on our forward-looking statements, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by the Company or on behalf of the Company, except as required by law.
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 release.