15:35:27 EDT Sat 27 Apr 2024
Enter Symbol
or Name
USA
CA



Auro Resources Corp
Symbol ARU
Shares Issued 61,699,118
Close 2011-09-07 C$ 0.11
Market Cap C$ 6,786,903
Recent Sedar Documents

Auro not worried about Colombian mining ban

2011-09-08 11:00 ET - News Release

Mr. Mark Lawson reports

AURO RETAINS PINNACLE CAPITAL MARKETS FOR INVESTOR RELATIONS

Auro Resources Corp. has retained Pinnacle Capital Markets Ltd. to develop and provide investor relations services for the company. Pinnacle has been engaged to refine and execute an investor relations strategy that will enhance and expand Auro's exposure with the North American and international investment community.

Pinnacle will assist Auro Resources in fostering productive, continuing dialogues with analysts, brokers, potential investors, current shareholders and other financial professionals. The initial period of the agreement is for six months, with an option to renew at terms mutually agreeable to each party. Auro will compensate Pinnacle with a monthly retainer of $6,000 per month (plus HST), in addition to 300,000 incentive options. This agreement is subject to TSX Venture Exchange approval.

Mark Lawson, president and chief executive officer of Auro Resources, stated: "We are excited to be working in conjunction with Pinnacle, given the breadth of their relationships within the institutional and retail investment community. Pinnacle will be working with Auro to help us continue to geographically diversify our shareholder base."

About Pinnacle

Pinnacle Capital Markets Ltd. is a Toronto-based advisory firm that provides full range of services to publicly listed companies operating primarily in the mining, oil and gas, technology, and renewable energy sectors. Its objective is to work closely with its clients to achieve key investor relations goals such as assisting in positioning its client in the context of the public markets, enhancing visibility within the financial community, increasing liquidity through enhanced retail and institutional awareness, attracting and increasing equity research coverage, and assisting in identifying much-needed growth capital. PCM believes that a successful investor relations program depends on a multifaceted approach, including an effective strategy, tactical execution, thoughtful advice and continuing communication.

Auro would also like to clarify and address an article that recently appeared on-line, titled "Colombia's president bans exploration in historic coffee growing region."

The article stated that Colombia's President Juan Manuel Santos says his administration has prohibited mining in 47 coffee-producing municipalities in the departments of Valle del Cauca, Caldas, Quindio, Risaralda and Valle. This article also stated, "Among the Canadian exploration companies with exploration programs in the departments of Tolimo and Quindio are Auro Resources' White Gold Properties, and Miranda Gold's Cajamarca project."

This article was derived from a Colombian newspaper called La Patria and was translated from Spanish to English. The original article in La Patria did not cite Auro Resources or Miranda Gold. The company would like to clarify that, although it possesses interests in close to 30,000 hectares in the departments of Tolima and Quindio, 12 to 25 kilometres from AngloGold Ashanti's multimillion-ounce La Colosa gold deposit, the majority of its concessions and priority exploration targets reside in the department of Tolima, not Quindio.

It is important to note that two of the largest discoveries in Colombia reside in the departments of Caldas and Quindio, and management and its Colombian counsel do not foresee this becoming a law. The company also does not conceive that Mr. Santos would enact any law that would deter future foreign direct investment, stimulus to future economic growth and job creation in these increasingly important mining regions.

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