Batero Gold Secures 100 Percent Ownership of Surface Rights in Immediate Area Over La Cumbre Gold-Copper Porphyry, Emphasizes Social and Environmental Commitments
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/13/11 -- Batero Gold Corp. (TSX VENTURE: BAT) is pleased to announce that it has secured 100 percent ownership of the surface rights in the immediate area over the La Cumbre gold-copper porphyry near the town of Quinchia in the Department of Risaralda, Colombia.
'We're proud to have secured 100 percent ownership of these surface rights, and we'll continue to secure ownership of additional surface rights encompassing new discoveries made in 2011 and other areas potentially required for development infrastructure during the coming year,' said Brandon Rook, President and CEO.
'Acquiring 100 percent of these surface rights over the last year is a major accomplishment and clearly demonstrates to investors that we're committed to moving this project forward and delivering value to shareholders,' said Rook.
'We've been able to acquire all the surface rights in the immediate vicinity of the La Cumbre gold-copper porphyry, in part, due to Batero's strong social and environmental commitments, including our innovative Farms for the Future resettlement program, which assists farmers to exchange less productive land for land better suited to coffee farming in adjacent valleys' said Rook.
'It's our close working relationship with the local community and our determination to improve the lives of local people that's created an environment where the surrounding community is supportive of this project moving ahead,' said Rook.
'For example, families that have participated in Farms for the Future have been able to increase their incomes substantially, and we're very proud to assist these hard-working men and women,' said Rook.
Batero's new corporate social responsibility report (www.baterogold.com/corporate-governance/social-and-environmental) outlines the company's commitment to environmentally and socially responsible gold exploration. A new website (www.explorebatero.com) includes six short documentary movies that explore Batero's sustainability commitments. If you don't have QuickTime on your device, you can view the movies here: http://www.baterogold.com/corporate/social-and-environmental-videos
'We are focusing our sustainability efforts on improving water management and educational opportunities because these are critical areas for community development in Quinchia,' said Rook.
Special filtration technology installed by Batero provides clean drinking water for employees as well as for 38 families living in the surrounding vicinity. In the near future, Batero hopes to provide clean drinking water to 1311 people living in five villages in the area surrounding the project via the construction of a regional water pipeline.
Batero is also funding a range of educational, cultural and sports programs in the community.
'In addition to our social commitments, we're adopting the highest mining exploration practices to ensure the local environment is protected,' said Rook.
Batero does regular sampling of the water in local creeks and compares these to baseline samples taken before exploration work began to ensure the company's activity is not impacting those creeks.
Once exploration activity has been completed at each drill platform, the site is re-planted and fully restored to the best possible condition - often times to a condition better than it was originally found.
Batero has taken many steps to increase its specific knowledge of the local people, their community, the surrounding natural environment as well as the resource, and to act on that increased knowledge. These steps include:
-- Completing a detailed socio-economic survey of the area, including
socioeconomic factors as well as water-quality, access to electricity,
access to sanitation, education level, etc.
-- Acting on the results of the survey, through improved water quality,
better sanitation services, educational support and cultural programming
-- Adopting leading-edge exploration practices to ensure the local
environment is protected during the exploration process
-- Establishing a five-person community outreach team to foster a two-way
exchange of information between the company and stakeholders
-- Setting up programs to assist local community members with job creation
and employment, crafts, tourism, farming techniques and other
opportunities in support of a sustainable local economy
-- Launching Batero's innovative Farms for the Future program that offers
local farmers and their families living near the exploration area
better, more productive farms in an adjacent valley
-- Setting out policies in support of local employment
ON BEHALF OF THE BOARD OF BATERO GOLD CORP.
Brandon Rook, President & CEO
Batero Gold Corp.
About Batero Gold:
Batero Gold Corp. (TSX VENTURE: BAT) is a Vancouver-based precious and base metals exploration and development company focused in Colombia's emerging and prolific Mid-Cauca porphyry gold and copper belt. Batero is located within the Quinchia district and has 100% ownership in the Batero-Quinchia Project, comprising a 1407 hectare tenement. The Batero-Quinchia Project includes three known gold-copper porphyry centres. The Quinchia district and Batero's project is considered socially stable and mining friendly and is supported with a comprehensive infrastructure network. Batero has assembled a strong management and technical team in Colombia that has contributed to numerous significant discoveries throughout Colombia. Batero plans to leverage its strategic share structure with strong local and regional relationships, and long-term financial partners, to develop its prospective project into what the Company believes will be Colombia's next major mining venture.
FORWARD LOOKING STATEMENTS: Certain of the statements and information in this press release constitute 'forward-looking statements' or 'forward-looking information' Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as 'expects', 'anticipates', 'believes', 'plans', 'estimates', 'intends', 'targets', 'goals', 'forecasts', 'objectives', 'potential' or variations thereof or stating that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information. Forward-looking statements or information relate to, among other things: the timing and scope of expected diamond drilling; the timing of the delivery of a resource estimate on the Batero-Quinchia project; potential existence and size of mineralization within the Batero-Quinchia project; timing of receipt of permits and regulatory approvals; the sufficiency of the Company's capital to finance the Company's operations; geological interpretations and potential mineral recovery processes.
Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks relating to: fluctuations in the spot and forward price of gold or certain other commodities; changes in national and local government legislation, taxation, controls, regulations and political or economic developments in Canada, Colombia or other countries in which the Company may carry on business in the future; the uncertainties involved in interpreting geological data; business opportunities that may be presented to, or pursued by, the Company; operating or technical difficulties in connection with mining activities; the speculative nature of gold exploration and development, including the risks of obtaining necessary licenses and permits; diminishing quantities or grades of reserves; and contests over title to properties, particularly title to undeveloped properties. In addition, there are risks and hazards associated with the business of gold exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance, or the inability to obtain insurance, to cover these risks).
This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. Forward-looking statements or information are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements or information due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company's Filing Statement dated as of June 22, 2010 under the heading 'Risk Factors'. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.
The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements and information.
Neither 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.
Contacts:
Batero Gold Corp.
604.568.6378
info@baterogold.com
www.baterogold.com
