Colombian Mines Receives Forest Subtraction and Applies for Drill Water Permits at El Dovio
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/25/12 -- Colombian Mines Corporation (TSX VENTURE: CMJ)(FRANKFURT: X6C) ("Colombian Mines" or "the Company") is pleased to announce it has received official notification from the Colombian Environmental Ministry that the administrative order (Subtraction Order) removing the El Dovio exploration area from the Pacific Forest Zone has been issued. This subtraction is an important and very positive step in furthering the permitting and exploration of the El Dovio property.
Concurrently, the Company has submitted applications for water diversion and discharge permits, necessary to initiate drilling at El Dovio. The issuance of the Subtraction Order was a prerequisite for submitting the water diversion and discharge permits.
About El Dovio
Colombian Mines 100% owned, El Dovio project is a gold rich, poly metallic system covered by granted Concession Contracts comprised of 10,106 contiguous hectares. The principal mineralized zone on the property, the Sabana Blanca zone, is up to 68 meters wide at the surface. Geochemistry indicates the zone has a potential strike length of more than one kilometer. Two previously unknown zones of mineralization have been discovered on the property in addition to the Sabana Blanca zone. The Granizales zone lies some 500 to 600 meters southwest of the Sabana Blanca tunnel and the Brazo 1 zone lies approximately 200 meters uphill from the Sabana Blanca Zone. The Brazo 1 geochemical anomaly is more than 800 meters long and is approximately parallel to the Sabana Blanca zone. The Company is conducting follow up hand trenching, to be followed by systematic diamond saw cut channel sampling to assess the mineral potential of these anomalies. El Dovio mineralization is highly amenable to modern metallurgical recovery methods, yielding more than 96% recovery of gold and copper with conventional froth flotation.
Upcoming Events
Colombian Mines is exhibiting at the New Orleans Investment Conference, booth 127, October 24 - 27 and the San Francisco Hard Assets Conference, November 16 - 17 in booth 1006. The Company cordially invites interested persons to visit us at one of these conferences and take advantage of the opportunity to meet management, and discuss El Dovio or our other projects and joint ventures in Colombia. Interested parties should contact Sharon Hebgin at (604) 649-9195 (760) 668-7211 or by email at shebgin@colombianmines.com for information.
Mr. Robert G. Carrington, P.Geo., President and CEO of the Company, is a Qualified Person as defined by National Instrument 43-101 and has reviewed and verified the technical information contained in this news release.
About Colombian Mines Corporation
Colombian Mines Corporation is focused on developing shareholder value through the exploration and development of high quality mineral properties in its 100% owned portfolio of Colombian projects through exploration for its own account and ongoing joint ventures. More than $3 million in combined exploration expenditures are currently planned to be executed on the Company's projects over the next 12 months. Further information can be found on our website at www.colombianmines.com.
Robert G. Carrington, President and CEO
Forward-Looking Statements:
Certain statements in this news release are "forward-looking" within the meaning of Canadian securities legislation. They include statements about the potential commercial value of the Teck transaction, the potential proceeds to be realized from the proposed Teck private placement and expenditures to be made and payments received pursuant to the Teck transaction. Forward-looking statements are necessarily based upon the current belief, opinions and expectations of management that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and other contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in the forward-looking statements. These factors include, among others, the actual results of exploration activities, fluctuations in the price of gold and silver, political and foreign risks, production risks, environmental regulation and liability, government regulation and other factors that may affect development of the Yarumalito Project and TLS' decision to exercise its options. Investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Colombian Mines Corporation
Robert G. Carrington
President and CEO
(604) 669-0868
Colombian Mines Corporation
Kim C. Casswell
Corporate Secretary
(604) 669-0868
(604) 688-1157 (FAX)
kcasswell@colombianmines.com
Colombian Mines Corporation
Sharon Hebgin
Corporate Communications
(604) 649-9195
shebgin@colombianmines.com
www.colombianmines.com
