TORONTO, ONTARIO–(Marketwired – Feb. 4, 2016) – VVC Exploration Corporation (“VVC” or the “Company”) (TSX VENTURE:VVC) announces that the court proceedings, described below, in Juarez Mexico may at some point impact the zoning of the Company’s Samalayuca Copper project in the State of Chihuahua, Mexico:
proceedings by the Court of the Indirect Amparo Trial number 291/2013 (hereafter the “Amparo”) promoted by Ismael Acosta Lucero, Sergio Soto Melendez and Norma Lorena Gay Quintero in their capacity of President, Secretary and Treasurer, respectively, of the Ojo de la Casa Ejido Commissariat, Juarez Municipality, Chihuahua Mexico (hereafter the “Ejidos”) against the acts of diverse authorities including the Environment and Natural Resources Ministry (hereinafter “SEMARNAT”)
This court proceeding was filed by the Commissioner for Ejidos (Ejidos are groups of farmer/landowners granted special status by the Government of Mexico) on behalf of an Ejido group whose land was included in Medanos de Samalayuca, a Natural Protected Area.. This land referred to in the court proceeding (Amparo) includes the entire mining claim of VVC’s 67.5% controlled Samalayuca Copper Project (the “Kaity Claim”).
VVC has worked for the last 2 years with SEMARNAT and it’s subsidiary agency CONAMP (who are responsible for protected areas in Mexico) to change the zoning of the Samalayuca Copper Project (a substantial portion of which is included in Medanos de Samalayuca) to allow all of the claim area to be available for mining exploration and exploitation. This request has gone through extensive review and fact finding by CONAMP and the Protected area Advisory Board as well as the gathering of public comments on the proposed changes and their potential impact on the protected area by CONAMP. In late 2015, CONAMP provided a new zoning proposal which accepted the changes requested and sent the revised zoning to the parent agency SEMARNAT for final publication. This new zoning proposal provides that all of the Samalayuca Copper project claim be zoned for mining exploration and exploitation. VVC’s representatives were told by the agency that this final publication should occur in the very near future.
Based on consultation with Mexican Counsel and other information gathered in Mexico, VVC has concluded that the zoning status of the Company’s Samalayuca Copper Project (“Kaity Claim”) has not changed at this time. The Company will keep shareholders apprised of further development on this matter.
VVC and its partners are committed to operating the Samalayuca Copper Project in a environmentally and socially responsible manner and will continue do so either in cooperation with CONAMP or through the normal mining permit channels should the property no longer be in CONAMP’s jurisdiction. The Company and its partners have worked closely with the officials of CONAMP, the Ejidos, the local Municipality and the State of Chihuahua and look forward to continuing to do so.
About VVC Exploration Corporation
VVC is a Canadian exploration and mining company with projects in Mexico and Canada, which include a near production copper prospect in Chihuahua State, and gold and silver prospects in Sonora and Sinaloa States of Mexico. The Company also has grass-roots gold prospects in the Timmins area of Northern Ontario. VVC is aggressively seeking to convert its near production copper project, Samalayuca, to pilot, then full production.
On behalf of the Board of Directors
Michel J. Lafrance,
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains “forward-looking information” (within the meaning of applicable Canadian securities laws) and “forward -looking statements” (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “potential”, “estimate”, “propose”, “project”, “outlook”, “foresee” or similar words suggesting future outcomes or statements regarding an outlook. Such statements include, among others, the court proceeding impacting the zoning, VVC continuing to work with CONAMP and SEMARNAT, publication occurring in the very near future and VVC being committed to operating in an environmentally, and socially responsible manner.
Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management’s expectations regarding future growth, plans for and completion of projects by Company’s third party relationships, availability of capital, and the necessity to incur capital and other expenditures. Actual results could differ materially due to a number of factors, including, without limitation, operational risks in the completion of Company’s anticipated projects, delays or changes in plans with respect to the development of Company’s anticipated projects by Company’s third party relationships, risks affecting the ability to develop projects, risks inherent in operating in foreign jurisdictions, the ability to attract key personnel, and the inability to raise additional capital. No assurances can be given that the efforts by Company will be successful. Additional assumptions and risks are set out in detail in the Company’s MD&A, available on SEDAR at www.sedar.com.
Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company’s securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law.