TORONTO, March 19, 2019 (GLOBE NEWSWIRE) -- INV Metals Inc. (“INV Metals” or the “Company”) (TSX:INV) provides an update on the 100% owned Loma Larga property (“Loma Larga” or “Project”), 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 Girón 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.
Ms. Candace MacGibbon, CEO, stated, “Loma Larga will continue to advance towards development. The Mineral Resources and Reserves of our Project are not located in either Girón or San Fernando cantons. The processing and tailings facilities, however, were originally planned in Girón canton and they will be relocated if required.”
The Constitutional Court ruled that the principle of tacit approval be invoked in these cases, allowing for the two referendums to proceed without the 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.
All scientific and technical information contained in this press release has been reviewed, verified and approved by Bill Shaver, P. Eng, a mining engineer and the Company’s COO and Qualified Person under National Instrument 43-101.
About INVTM Metals Inc.
INVTM Metals is an international mineral resource company focused on the acquisition, exploration and development of precious and base metal projects in Ecuador. Currently, INVTM Metals’ primary assets are: (1) its 100% interest in the Loma Larga gold exploration and development property in Ecuador, and (2) its 100% interests in exploration concessions in Ecuador, including the Las Peñas, Tierras Coloradas, La Rebuscada and Carolina exploration projects.
For more information please contact:
Chief Executive Officer
Phone: (416) 703-8416
Forward Looking Statements
This press release contains forward-looking information. Forward-looking information contained in this news release includes, but is not limited to, statements with respect to the referendums, the judgement to invoke the tacit approval of the referendums, the results of votes with respect to the constitutionality of referendums and location of the processing and tailings facilities. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management’s expectations. In certain cases, forward-looking information may be identified by such terms as “anticipates”, “believes”, “could”, “estimates”, “expects”, “may”, “shall”, “will”, or “would”. Forward-looking information contained in this press release is based on certain factors and assumptions made by management and qualified persons in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management and the qualified persons believe are appropriate in the circumstances. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including changes to project parameters as plans continue to be redefined, changes resulting from a move of the processing and tailing facilities, risks relating to grade or recovery rates, reliance on key personnel, operational risks, regulatory, capitalization and liquidity risks. Please refer to the Company’s Annual Information Form dated March 23, 2018 filed on SEDAR at www.sedar.com for other risks that could materially affect the Company. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on the Company’s forward-looking information. The Company does not undertake to update any forward-looking information that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
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