Cancana JV Commissions Community Engagement Consultant
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug 18, 2015) - Cancana Resources Corp. (TSX VENTURE:CNY) (the "Company" or "Cancana") announced its joint venture Brazil Manganese Corp. ("BMC") has commissioned Mineral Engenharia e Meio Ambiente Ltda ("Mineral") to provide stakeholder analysis and an engagement plan for the implementation of a corporate social responsibility ("CSR") program. The program is part of a strategy designed to integrate the activities of BMC with social and economic programs that have a benefit to local stakeholders in Espigão d'Oeste in the state of Rondônia.
Cancana President and CEO, Anthony Julien stated, "The mining operations of BMC have the potential to bring economic stability and increase employment in an area of Brazil chronically short of economic opportunity. Cancana and its joint venture partner Ferrometals are committed to ensuring success for its shareholders and for the community by engaging and cultivating local relationships from this early stage. The time for constructive dialogue with key local stakeholders is now."
BMC General Manager, Mike Bennett stated, "Many of our activities such as building roads and bridges are already filling gaps in municipal infrastructure needs. By formalizing a CSR program, we can consider participation in other community activities such as education and health programs. Supporting skills-based training programs can increase employment opportunities for community members as well as provide a pool of skilled labour for BMC."
The process will begin with a community engagement exercise by Mineral designed to elicit feedback on key issues BMC should consider moving forward. A strategic review of this feedback will then be incorporated into a scoping exercise conducted with Mineral with the intention of developing an over-arching CSR strategy and implementation plan moving forward.
On behalf of the Board of Directors of
Anthony Julien, President, CEO & Director
For more information please contact:
ABOUT MINERAL ENGENHARIA E MEIO AMBIENTE LTDA
Founded in 1997, Mineral Engenharia e Meio Ambiente Ltda is a consulting firm specializing in environmental and community programs for companies primarily in the resource and energy sector. Mineral has been involved in environmental studies, environmental management, and the management of sustainability and social responsibility programs. Mineral's client list includes Yamana Gold, Caraíba Mining, Duke Energy International Brazil, and Braskem among others.
ABOUT CANCANA
Cancana Resources Corp. is focused on exploring and developing the BMC manganese project in Brazil with its joint venture partner Ferrometals, a special purpose investment vehicle for The Sentient Group. Sentient is a resource-focused private equity fund with approximately $2.7Bn in assets under management, and a 15-year track record for advancing resource projects from early stage to pre-feasibility and development. Cancana and Ferrometals are employing a two-pronged strategy at BMC. The primary objective is to advance BMC to an initial resource and onward to pre-feasibility, while also expanding current small-scale production to support those exploration activities. Further information can be found on the Company's website: www.cancanacorp.com.
FORWARD-LOOKING STATEMENTS
Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others, statements with respect to the Company's plans for exploration and development of the Brazil properties and potential mineralization. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such risk factors include, among others, failure to obtain regulatory approvals, failure to complete anticipated transactions, the timing and success of future exploration and development activities, exploration and development risks, title matters, inability to obtain any required third party consents, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices and one-time events. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that: (1) the proposed exploration and development of mineral projects will proceed as planned; (2) market fundamentals will result in sustained metals and minerals prices and (3) any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
The Company cautions that it has not completed any feasibility studies on any of BMC's mineral properties, and no mineral reserve estimate has been established. Because the Company production decision is not based upon a feasibility study of mineral reserves, the economic and technical viability of the property has not been established.
Contact
Cancana Resources Corp.
Dylan Berg
VP Corporate Development
604-681-0405
dberg@cancanacorp.com
