Atico Reports Union Negotiations at El Roble Mine, Colombia; Drilling Stopped, Exploration Continues
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/15/13 -- Atico Mining Corporation (TSX VENTURE: ATY)(PINKSHEETS: ATCMF) reports that Minera El Roble (MINER), current operator of the mine, is engaged in its annual negotiations with the worker's union. As part of this on-going process, the worker's union has called for a strike. Atico has temporarily halted drilling within the premises of the mine. The company's employees are not engaged in this labor disruption and continue to prioritize and prepare drill targets while conducting fieldwork in other areas of the 6,679 hectare property.
Atico plans to resume underground and surface drilling immediately following the resumption of mining operations at El Roble mine. Negotiations between MINER and the union, which represents approximately 60% of the mine's workforce, are ongoing as both parties work to bring a swift and satisfactory resolution to the strike.
Fernando E. Ganoza, CEO of Atico Mining, commented, "We are optimistic that current negotiations will lead to a satisfactory settlement for both Minera El Roble and its unionized workers. In the past, these negotiations have lasted between two and six weeks."
Fernando E. Ganoza continued, "Our exploration teams are ready to resume drilling as soon as the negotiation process comes to an end. The district exploration program continues with geochemistry and geology in three newly identified drill targets within El Roble property."
The El Roble Property
The El Roble property is the site of an operating underground copper and gold mine with nominal capacity of 400 tonnes per day. Over the past 22 years the mine has processed 1.5 million tonnes of ore at an average grade of 2.5% copper and an estimated 2.5 g/t gold. Copper and gold mineralization at El Roble occurs as volcanogenic massive sulfide (VMS) lenses. Exploration over the past two years has defined a productive contact and an enclosing package of host rocks that extend 10 kilometers across the property. The entire strike length is marked by VMS mineralization occurrence indicators.
About Atico Mining Corporation
Atico is a growth oriented, copper and gold exploration and development company focused on mining opportunities in Latin America. The company's primary property is the El Roble project. The company is selectively pursuing additional acquisition opportunities. For more information, please visit our website at www.aticomining.com.
ON BEHALF OF THE BOARD
Fernando E. Ganoza, CEO
Atico Mining Corporation
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.
Cautionary Note Regarding Forward-Looking Statements
This announcement includes certain "forward-looking statements" within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation the use of net proceeds, are forward-looking statements. Forward- looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs; the need to obtain additional financing to maintain its interest in and/or explore and develop the Company's mineral projects; uncertainty of meeting anticipated program milestones for the Company's mineral projects; and other risks and uncertainties disclosed under the heading "Risk Factors" in the prospectus of the Company dated March 2, 2012 filed with the Canadian securities regulatory authorities on the SEDAR website at www.sedar.com
Neither 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.
Contacts:
Atico Mining Corporation
Igor Dutina
Investor Relations
+1.604.633.9022
info@aticomining.com
www.aticomining.com
