VANCOUVER, BC–(Marketwired – June 13, 2017) – Camrova Resources Inc., (the “Company”) (TSX VENTURE: CAV) (OTCQB: BAJFF) is pleased to report that Camrova management, Tom Ogryzlo (Interim CEO) and Nigel Kirkwood (CFO), recently visited Chile to meet with Gubier Marambio H. SpA (“GMH“) and Metalex Ltda (“Metalex“) to determine if a final agreement could be reached in connection with the binding letter of intent entered into between the parties on February 1, 2017. It was determined by Camrova management that a final agreement that would meet Camrova’s investment objectives could not be reached and the parties have agreed to formally terminate their discussions relating to the Virginia Project.
However, Camrova has decided to continue pursuing the concepts similar to those which comprise the Virginia Project. Camrova is engaged in discussions with an additional party, that owns a small-scale plant producing copper concentrate and pregnant leach solution (PLS) in Copiapó, Chile. Both Metalex and GMH are participating in these discussions, which have as a short term objective the creation of a small-scale copper cathode producer. The parties are discussing the formation of an entity that would initially produce approximately 30 tonnes per month of copper cathode using existing PLS solutions and the electowinning equipment of Metalex. Camrova would provide working and investment capital and technical expertise to support the start-up, and the planned expansion of cathode production to approximately 100 tonnes per month within 12 – 18 months of the initial start-up.
Camrova is currently working with its engineering advisers to further define the project concepts and continues its discussions with its potential partners in Chile. The Company would anticipate providing a further update when an agreement in principle may be reached among the parties.
For further information, please contact Camrova’s Interim CEO Tom Ogryzlo at 604‐685‐2323 or via email at [email protected].
Neither 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.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements or forward-looking information (forward-looking statements). These statements can be identified by expressions of belief, expectation or intention, as well as those statements that are not historical fact. Forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. Forward-looking statements contained in this press release are based on our current estimates, expectations and projections, which the Company believes are reasonable as of the current date. Actual results could differ materially from those anticipated or implied in the forward-looking statements and as a result undue reliance should not be placed on forward-looking statements. Additional risks and uncertainties can be found in the Company’s (formerly “Baja Mining Corp.”) reporting documents filed on SEDAR (www.sedar.com), including its Management Discussion and Analysis. Forward-looking statements are given only as at the date of this press release and the Company disclaims any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
For further information, please contact:
Tom Ogryzlo
Interim CEO
604‐685‐2323
[email protected]
