Atico Responds to BCSC Technical Disclosure Review
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 11, 2016) - Atico Mining Corp. (the "Company" or "Atico") (TSX VENTURE:ATY)(OTC PINK:ATCMF) announces that, as a result of a review by the British Columbia Securities Commission, the Company is issuing the following news release to clarify and/or retract its disclosure.
The Company's website, investor materials and certain news releases contained disclosure regarding the Company's El Roble mine that were not compliant with National Instrument 43-101 Standards of Disclosure for Mineral Projects as they omit prominent cautionary language required by s.3.4 (e) of NI 43-101 and s.4.2 (6) of the Companion Policy 43-101 CP to National Instrument 43-101. The Company therefore restates the prior disclosure in these materials and is updating them accordingly by incorporating the following cautionary language on a going forward basis.
The Company has not based its production decisions and ongoing mine production on mineral reserve estimates, preliminary economic assessments or feasibility studies, and historically such projects have increased uncertainty and risk of failure. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
In connection with the BCSC review the Company is amending its current technical report on the El Roble Property and will file the amended report on SEDAR.
This amendment is not expected to result in any changes to the previously disclosed mineral resource estimates.
Mr. Thomas Kelly (SME Registered Member 1696580), Chief Operating Officer of the Company, and Dr. Demetrius Pohl, Ph.D. AIPG Certified Geologist, are qualified persons under National Instrument 43-101 standards and are responsible for ensuring that the information contained in this news release is an accurate summary of the original reports and data provided to or developed by Atico Mining Corp.. Mr. Kelly and Dr. Pohl have approved the scientific and technical content of this news release.
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
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.
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
Contact
Investor Relations
Igor Dutina
Tel: +1.604.633.9022
