AU Minera Corp.
AU Minera Corporation Acquires Exploraciones Geologicas Mineras S.A.
AU Minera Corp. / Key word(s): Acquisition March 1, 2011 – AU Minera Corporation (FSE: ZAU) ('AU Minera' or the 'Company') is pleased to report the acquisition of 100% of the issued voting securities of Exploraciones Geologicas Mineras S.A. ('Exgeomin'), a private Peruvian company. Exgeomin is the owner and operator of a producing gold mine covering approximately 200 hectares in northern Peru. Gold values average 15 grams per ton across relatively narrow veins averaging 25 cms in width. Exgeomin also owns a 'Chilean' mill and additional milling and processing equipment which is used to process up to 50 tons of ore on a daily basis for both Exgeomin Mine as well as for local miners who deliver their ore to Exgeomin for processing. The management of AU Minera intend to consolidate operations at the Exgeomin Mine site until such time as the capital expenditure program at the Company's Caracol Mine have been completed and cash flows from the expanded production have been optimized such that the Company can internally finance a program to expand production at the Exgeomin Mine. AU Minera President Alejandro Diaz stated that 'the potential of Peru is just now being realized by the major international mining companies and investors. This is a time of opportunity for companies like AU Minera. In a rich mining environment like Peru which has only been opened up over the past 19 years, there is so much opportunity that, as managers, we must exercise caution to complete acquisitions that fit within our business model – to identify producing properties that have not realized their earning potential but will increase our reserves, complement existing operations and, ultimately, enhance shareholder values'.
About AU Minera Corporation AU Minera Corporation was formed to identify developed or producing mining properties in politically stable South American countries and to take advantage of management experience and expertise in the South American mining industry to identify mining prospects that lend themselves to rapid development, production and, ultimately, the enhancement of shareholder values. The management of AU Minera is primarily focused on building reserves and utilizing positive cash flow to internally finance the development of prospects on a basis that avoids the undue issuances from treasury that impact negatively on earnings. On behalf of the Board of Directors
AU Minera Corporation E-mail: alex@auminera.com Website: www.auminera.com
FORWARD-LOOKING STATEMENTS Statements in this document which are not purely historical are 'forward-looking statements', including any statements regarding the intent, belief or current expectations of AU Minera Corporation and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include, among others, material changes commodity prices which could impact negatively on operating margins and profitability, material changes in the global capital markets that may impact negatively on the Company's ability to secure the working capital required to complete the ongoing development of its mineral rights on a timely basis, the competitive nature of the mining industry as it relates to the Company's ability to attract the personnel required to efficiently execute the Company's business plan. Forward looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as updates may be required by applicable law. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, the risks and uncertainties outlined in our most recent financial statements. Although the Company believes that the plans, expectations and intentions contained in this news release are reasonable, there can be no assurance those plans, expectations or intentions will prove to be accurate. Investors should consider all of the information set forth herein. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification under the applicable securities laws of any such jurisdiction. End of Corporate News 01.03.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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