VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 7, 2013) - Atico Mining Corporation (TSX VENTURE:ATY) is pleased to announce the appointment of Mr. Thomas Kelly to the position of Chief Operating Officer.
Mr. Kelly brings over 35 years of experience in mine production, minerals industry consulting and corporate management. He has extensive international experience working on producing mines as part of feasibility teams and managing development projects from small underground to large open pit operations. Mr. Kelly has also managed large due diligence projects, undertaken numerous bankable technical audits, technical reports, independent expert reports and due diligence studies internationally. Mr. Kelly has abundant experience in Latin America and is fluent in Spanish. He is a Qualified Person in North America and Australia, holds a BSc in Mining Engineering and a Master of Science in Mining Engineering with a Minor in Mineral Economics from the Colorado School of Mines.
Fernando Ganoza, CEO of Atico commented, "Tom's appointment reflects our commitment to become a leading mid-tier copper and gold producer in Latin America. His proven track-record in building and operating mines in the region will add significant value to our team's capabilities as we advance engineering studies at El Roble mine and move Atico towards production. On behalf of management and the Board of Directors I would like to welcome Tom and look forward to having him on board."
The company is also pleased to announce, subject to regulatory approval, the appointment of Mr. Igor Dutina as an Investor Relations representative. Prior to joining Atico, Igor worked for Baja Mining, HDI Mining and Global Catalyst Group. Igor will receive a base compensation of $60,000 annually.
Pursuant to the Company's stock option plan, 340,000 incentive stock options exercisable at $0.98 per share for a period of five years have been granted to Mr. Kelly and Mr. Dutina.
El Roble mine exploration update
The exploration program at El Roble mine is advancing according to plan with three drill rigs on site and field work being conducted to prepare drill targets along the enclosing package of host rocks extending for a distance of 10 kilometers across the 6,680 hectare property. Two rigs are currently drilling below level 2000, lowest production level at the El Roble mine and the third is drilling on surface the Archie anomaly, north of El Roble mine.
In addition to the ongoing surface and underground exploration programs at El Roble mine, Atico is conducting various technical and engineering studies at the mine which will provide a thorough understanding of the ongoing 360 tonne per day operation.
Studies are being led by engineering firms working in coordination with Atico's management to assess the mill and processing facility´s potential for scale-up, the mine´s design and optimization, the tailings dam upgrade and the operation´s environmental standards.
El Roble Property
The El Roble property is the site of an operating underground copper and gold mine with nominal capacity of 400 tonnes per day. Over the past 22 years the mine has processed 1.5 million tonnes of mineralized material at an average grade of 2.5% copper and estimated gold grade of 2.5 g/t. Copper and gold mineralization at El Roble occurs as volcanogenic massive sulfide ("VMS") lenses. Exploration over the past two years has defined a productive contact and an enclosing package of host rocks extending for a distance of 10 kilometers across the 6,680ha property. This entire strike length is marked by VMS mineralization occurrence indicators.
Dr. Demetrius Pohl, Ph.D., AIPG Certified Geologist, a qualified person under NI 43-101 standards and independent of the company, is 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 Corporation.
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
Atico Mining Corporation
Trading symbol: (TSX VENTURE:ATY)
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.
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.