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INV Metals Inc (2)
Symbol INV
Shares Issued 92,598,651
Close 2019-03-18 C$ 0.64
Recent Sedar Documents

INV Metals to continue developing Loma Larga

2019-03-19 09:24 ET - News Release

Ms. Candace MacGibbon reports

INV METALS PROVIDES UPDATE ON THE LOMA LARGA PROJECT

INV Metals Inc. has provided an update on the 100-per-cent-owned Loma Larga property, located in Ecuador.

The company reports that on March 18, 2019, the Ecuadorian Constitutional Court reached a decision on two referendums related to the potential effects of mining activities in the cantons of Giron and San Fernando. The cantons are adjacent jurisdictions which do not contain the Loma Larga mineral resources and reserves. One referendum is in opposition to the potential impacts of mining activities and the other, brought forward by a local group near Loma Larga, is in support of the economic benefits of mining.

Candace MacGibbon, chief executive officer, stated: "Loma Larga will continue to advance towards development. The mineral resources and reserves of our project are not located in either Giron or San Fernando cantons. The processing and tailings facilities, however, were originally planned in Giron canton and they will be relocated if required."

The Ecuadorian Constitutional Court ruled that the principle of tacit approval be invoked in these cases, allowing for the two referendums to proceed without the Ecuadorian Constitutional Court opining on the merits of the questions being asked because a certain period of time had elapsed without a specific decision. INV Metals will seek further legal clarification on the decision.

Qualified person

All scientific and technical information contained in this press release has been reviewed, verified and approved by Bill Shaver, professional engineer, a mining engineer and the company's chief operating officer and qualified person under National Instrument 43-101.

About INV Metals Inc.

INV Metals is an international mineral resource company focused on the acquisition, exploration and development of precious and base metal projects in Ecuador. Currently, the company's primary assets are its 100-per-cent interest in the Loma Larga gold exploration and development property in Ecuador and its 100-per-cent interests in exploration concessions in Ecuador, including the Las Penas, Tierras Coloradas, La Rebuscada and Carolina exploration projects.

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