VANCOUVER, British Columbia, Sept. 05, 2018 (GLOBE NEWSWIRE) — Centenera Mining Corporation (“Centenera” or the “Company”) – (TSXV: CT, OTCQB: CTMIF) announces that it has active a bounden letter acceding (the “Letter Agreement”), whereby it will be accepted the appropriate to access up to a 100% absorption in six adored metals backdrop (the “Properties”) from an arm’s breadth party, Tres Cerros Exploraciones S.R.L (“Tres Cerros”) through three abstracted advantage agreements (the “Option Agreements”), as to two Backdrop per agreement. The Backdrop are all amid aural the awful -to-be Deseado Massif in Santa Cruz Province, Argentina, and calm comprise about 32,900 hectares. Beneath the agreement of the Advantage Agreements, Centenera will be accepted an absolute advantage (the “Option”) to access a 100% absorption in the Backdrop by way of staged banknote and accepted allotment payments, accountable to a net smelter allotment (“NSR”) adeptness in favour of Tres Cerros.
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“This accretion gives Centenera a allusive ballast in this important mining and assay district,” declared Keith Henderson, Centenera’s President & CEO. “This amalgamation of backdrop was anxiously targeted by Tres Cerros, which has patiently acquired the backdrop through staking over the aftermost two to three years. Tres Cerros is an Argentinean aggregation founded by a accumulation of assay geologists with all-encompassing acquaintance in the Deseado Massif and who accept been complex in several discoveries over the aftermost few years including Cerro Moro, Mina Martha, Joaquin and Virginia deposits. Tres Cerros’ geologists accept been featured assorted times on the avant-garde awning of The Northern Miner for authoritative gold and argent discoveries in this mining district.”
Mr. Henderson continued, “Santa Cruz is a arch administration for assay of low and average sulphidation epithermal gold and argent deposits with about 19 actor ounces of gold and 580 actor ounces of argent apparent back 1990. For adored metals it is possibly the highest-ranked assay destination in South America and, with a almost abbreviate history of mineral exploration, the assay abeyant is accepted to be acutely high. The Santa Cruz Province is a favourable destination for mineral assay and mining investment, with assorted adored metals mines in assembly and chief mining companies such as AngloGold Ashanti Limited, Panamerican Argent Corp., Yamana Gold Inc. (“Yamana Gold”) and Goldcorp Inc. (“Goldcorp”) continuing to yze in the region.”
The Backdrop are all amid aural the -to-be Deseado Massif (Figure 1). The Deseado Massif is a Jurassic age agitable plateau accoutrement 60,000km2 and hosting admired epithermal adored metals deposits. A abbreviate arbitrary of ceremony of the Backdrop is provided below. Added advice will be presented via the Company’s web armpit in the advancing weeks.
The Cerro Bayo Acreage is anchored amid the aing Verde activity (Yamana Gold) amid about 2km to 3km to the west, and the San Agustin activity (Goldcorp) amid to the east. The Cerro Bayo Acreage contains areas of apparent attitude and/or breccia as extensions to mineralized systems articular in adjoining properties. Due activity bedrock grab sampling (4 bedrock samples) conducted by the Company, alternate grades alignment from 0.05g/t to 0.48g/t gold and from 7.94g/t to 572g/t silver. Centenera’s due activity sampling after-effects are constant with absolute sampling after-effects appear by antecedent operators (15 bedrock samples) which alternate grades alignment from beneath apprehension to 1.07g/t gold and from beneath apprehension to 3,300g/t silver. There is able geological affirmation suggesting that the -to-be rocks apparent at the Cerro Bayo Acreage are aerial in the mineralizing arrangement with ample abeyant beneath surface.
Figure 1: Location of Santa Cruz Backdrop about to mining and assay projects in Santa Cruz Province
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The assumption targets in the La FloraProperty are the Flora Attitude and Flora West. The Flora Attitude is an addendum of mineralization at the San Agustin Este project, aing to the south and controlled by Hochschild Mining plc (“Hochschild”).
The Aylen Acreage is amid anon west of the Martha Mine, endemic and operated by Hunt Mining Corp. (“Hunt Mining”). The arena has abeyant to host an addendum of the mineralizing Martha structural breadth over a abeyant bang breadth of added than 4km. A distinct due activity bedrock sample taken by Centenera on the Aylen Property, alternate 0.38g/t gold and 104g/t silver, which is on-trend from the Martha Mine. As cartography is agnate to that begin at neighbouring operations and with mineralization accepted by antecedent due diligence, the Aggregation believes that there may be abeyant to body assignment targets on the Aylen Property.
The Pedro Acreage is adjoining to Mirasol Assets Ltd.’s (“Mirasol”) Nico Project. In particular, Mirasol’s Resolution Prospect, aural the greater Nico Project, is amid beneath than 200m west of the Pedro Property. Due activity grab sampling by Centenera (3 bedrock samples), conducted by the Company, alternate grades alignment from 0.37g/t to 44.9g/t argent and announce that the mineralization extends assimilate the Pedro Property.
The Fiorentina Acreage is aing with the Los Cisnes Project, aforetime captivated by Mariana Assets Ltd. (“Mariana”) and afresh acquired by New Dimension Assets Ltd. (“New Dimension”). In particular, New Dimension’s El Brio anticipation is amid aloof a few kilometres west of the Fiorentina Property. Recent assignment after-effects from New Dimension’s El Brio anticipation (August 2018) accommodate 4.4m allocation 566g/t argent and 4.4m allocation 123.2g/t silver, while antecedent conduct by Mariana in 2015 alternate 2.9m allocation 755g/t silver. Due activity samples taken by Centenera on the Fiorentina Acreage (9 rock grab samples), alternate gold grades alignment from beneath apprehension to 1.45g/t gold, acknowledging that mineralization at El Brio may extend assimilate the Fiorentina Property.
Finally, the Aguila Mora Acreage was aforetime captivated by Mariana, who appear mapping of 12.5km of veins at surface.
Centenera is currently in negotiations with a awful accomplished adviser who is accustomed as a all-around able in these types of deposits, and who has specific acquaintance in the Deseado Massif, accepting completed assay assignment for abounding of the above mining companies alive in the area. If retained, the primary cold of the adviser will be to assay ceremony of the Backdrop on the arena and to rank them in agreement of assay priority. Antecedent assignment is advancing to focus on abundant mapping, area accustomed by exposure, arena geophysics and apparent geochemistry, and specific assay recommendations will drive the consecutive programs.
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The agreement of the Letter Acceding accommodate that, accountable to assertive conditions, including TSX Adventure Barter (“TSX-V”) accepting and the access into the Advantage Agreements, Centenera will be accepted the Advantage to access a 100% absorption in the Properties, accountable to a NSR adeptness in favour of Tres Cerros. The ambition of the parties is that they will access into a abstracted Advantage Acceding for the acreage groups set out beneath (“Property Groups”) (Figure 1) as follows:
During the Advantage period, Centenera will be amenable for advancement the assay concessions and permits absolute the Backdrop in acceptable standing, and advantageous all fees and assessments, and demography such added steps, appropriate in adjustment to do so. There will be no added assignment commitments, and any assignment agitated out on the Activity will be at the sole acumen of Centenera.
The Advantage will be structured as a two-stage option, whereby the Aggregation can access an antecedent 80% absorption (the “First Option”), followed by the absolute 20% absorption (the “Second Option”), accountable to assertive adeptness conditions. The accumulated accretion bulk of the Aboriginal Advantage for all three Acreage Groups will be USD $2,887,500 payable in banknote and accepted shares in the basic of Centenera issued to Tres Cerros accepting a accounted arising bulk of USD $3,675,000, over a aeon of 6 years.
The earn-in agreement for the Aboriginal Advantage (for ceremony of the Acreage Groups) will be as follows (all dollar amounts are US Dollars):
As allotment of the earn-in charge for ceremony Acreage Group, Centenera will be appropriate to bear to Tres Cerros a distinct abstruse address in accordance with NI 43-101 Standards of Acknowledgment for Mineral Projects (“NI 43-101”), with the accountable acreage actuality the added avant-garde of the Backdrop in ceremony of the Acreage Groups. Added than the antecedent $12,500 banknote acquittal (aggregate $37,500 for all the Acreage Groups), Centenera will not be answerable to accomplish any payments or affair any b to Tres Cerros.
For a aeon of 120 canicule afterwards the exercise of the Aboriginal Advantage for ceremony Acreage Group, Centenera will accept the Added Advantage to access the absolute 20% (aggregate 100%) absorption in that Acreage Group, by authoritative a banknote acquittal of $400,000 and arising shares in the basic of Centenera admired at $400,000 to Tres Cerros, accountable to a 0.75% NSR royalty, of which two-thirds of the adeptness (0.5%) can be purchased at any time for $1,000,000.
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If Centenera elects not to exercise the Added Option, the parties will be accounted to accept entered into a collective adventure (“JV”), with the antecedent accommodating interests of Centenera actuality 80% and Tres Cerros actuality 20%. In the accident that either party’s accommodating absorption avalanche beneath 10% again that party’s absorption will be adapted to a 1% NSR royalty, one bisected of which (0.5%) can be purchased by the added affair for $1,000,000.
Quality Ascendancy & Affection Assurance
Quality affirmation and affection ascendancy procedures activated during due activity sampling included the ytical admittance of blanks, standards and duplicates into the sample sequences. Samples were calm in October 2017 and closed and alien to ALS Chemex Labs Ltd. (“ALS Chemex”) for ysis. ALS Chemex’s affection arrangement complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025: 1999. Analytical accurateness and attention are monitored by the assay of reagent blanks, advertence absolute and carbon samples.
Cautionary Note Apropos Absolute Sampling Results
Results of absolute sampling undertaken by antecedent operators accept been included in this account absolution to authenticate bendability of after-effects amid Centenera’s due activity sampling after-effects and antecedent sampling results. Readers are cautioned that QA/QC procedures and after-effects of absolute sampling accept not been absolute by Centenera geologists and should not be relied upon.
Cautionary Note Apropos Adjoining Properties
The Verde Activity (Yamana Gold), San Agustin Activity (Goldcorp), San Agustin Este Activity (Hochschild), Martha Abundance (Hunt Mining), Nico Activity (Mirasol), and Los Cisnes (New Dimension) are all adjoining properties. The Aggregation has no absorption in or appropriate to access any absorption in these projects or deposits. Mineral deposits on adjoining or agnate properties, and any assembly accordingly or economics with account thereto, are not in any way apocalyptic of mineral deposits on Centenera’s backdrop or the abeyant assembly from, or bulk or economics of, any approaching mining of any of Centenera’s mineral properties.
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Keith J. Henderson, P.Geo., is the Company’s able actuality as authentic by NI 43-101 and has advised the accurate and abstruse advice that forms the base for portions of this account release. He has accustomed the acknowledgment herein. Mr. Henderson is not absolute of the Company, as he is an agent of the Aggregation and holds balance of the Company.
About Centenera Mining Corporation
Centenera is a mineral adeptness aggregation trading on the TSX-V beneath the attribute “CT” and on the OTCQB barter beneath the attribute “CTMIF”. The Aggregation is focused 100% on mineral adeptness assets in Argentina, which accommodate gold, silver, copper-gold and lithium assets. Centenera’s assets are amid in Salta, San Juan and Santa Cruz Provinces, which are broadly accustomed as actuality favourable jurisdictions for mining and exploration.
On Behalf of the Board of Directors of
CENTENERA MINING CORPORATION
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President & CEO
For added capacity on the Aggregation readers are referred to the Company’s web armpit (www.centeneramining.com) and its Canadian authoritative filings on SEDAR at www.sedar.com.
For added information, amuse contact:
Keith HendersonPhone: 604-638-3456E-mail: [email protected]
Neither TSX Adventure Barter nor its Regulation Services Provider (as that appellation is authentic in the behavior of the TSX Adventure Exchange) accepts albatross for the capability or accurateness of this account release.
This account absolution contains advanced statements and advanced advice (collectively, “forward-looking statements”) aural the acceptation of applicative Canadian and U.S. balance legislation, including the United States Private Balance Action Reform Act of 1995. All statements, added than statements of absolute fact, included herein including, after limitation, statements apropos the agreement of the Advantage Agreements and exercise of the Advantage for the Properties, the advancing content, commencement, timing and bulk of assay programs in account of the Backdrop and otherwise, advancing assay affairs after-effects from assay activities, and the Company’s apprehension that it will be able to access into agreements to access interests in added mineral properties, the assay and curve of mineral deposits/resources/reserves on the Properties, and the advancing business affairs and timing of approaching activities of the Company, are advanced statements. Although the Aggregation believes that such statements are reasonable, it can accord no affirmation that such expectations will prove to be correct. Often, but not always, advanced attractive advice can be articular by words such as “pro forma”, “plans”, “expects”, “may”, “should”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such words including abrogating variations thereof, and phrases that accredit to assertive actions, contest or after-effects that may, could, would, adeptness or will action or be taken or achieved. In authoritative the advanced statements in this account release, the Aggregation has activated several absolute assumptions, including after limitation, that it will be able to accommodate the Advantage Agreements and that it will access TSX-V accepting for filing of thereof, bazaar fundamentals will aftereffect in abiding adored metals appeal and prices, the cancellation of any all-important permits, licenses and authoritative approvals in affiliation with the approaching development of the Company’s Argentine projects in a appropriate manner, the availability of costs on acceptable agreement for the development, architecture and connected operation of the Aggregation projects, and the Company’s adeptness to accede with environmental, bloom and assurance laws.
Forward-looking statements absorb accepted and alien risks, uncertainties and added factors which may account the absolute results, achievement or achievements of the Aggregation to alter materially from any approaching results, achievement or achievements bidding or adumbrated by the advanced information. Such risks and added factors include, amid others, operating and abstruse difficulties in affiliation with mineral assay and development and abundance development activities at the Properties, including the geological mapping, prospecting and sampling programs actuality proposed for the Backdrop (the “Programs”), the actuality that the Company’s advancing interests in the Backdrop will alone be an advantage and there is no agreement that such interest, if earned, will be certain, absolute after-effects of assay activities, including the Programs, admiration or ability of mineral affluence and mineral resources, the timing and bulk of estimated approaching production, costs of production, basic expenditures, the costs and timing of the development of new deposits, the availability of a acceptable accumulation of baptize and added materials, requirements for added capital, approaching prices of adored metals and copper, changes in accepted bread-and-er conditions, changes in the banking markets and in the appeal and bazaar amount for commodities, accessible variations in ore brand or accretion rates, accessible failures of plants, accessories or processes to accomplish as anticipated, accidents, labour disputes and added risks of the mining industry, delays or the disability of the Aggregation to access any all-important permits, consents or authorizations required, including TSX-V accepting for filing of the Advantage Agreements, any accepted or approaching acreage acquisitions, costs or added planned activities, changes in laws, regulations and behavior affecting mining operations, ambiguity practices, bill fluctuations, appellation disputes or claims limitations on allowance advantage and the timing and accessible aftereffect of awaiting litigation, ecology issues and liabilities, risks accompanying to collective adventure operations, and risks accompanying to the affiliation of acquisitions, as able-bodied as those factors discussed beneath the branch “Risk Factors” in the Company’s latest Management Discussion and Assay and added filings of the Aggregation with the Canadian Balance Authorities, copies of which can be begin beneath the Company’s contour on the SEDAR website at www.sedar.com.
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Readers are cautioned not to abode disproportionate assurance on advanced attractive statements. Except as contrarily appropriate by law, the Aggregation undertakes no obligation to amend any of the advanced advice in this account absolution or congenital by advertence herein.
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