VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 27, 2010) - Coro Mining Corp. ("Coro" or the "Company") (TSX:COP) is pleased to confirm that the Provincial Government of Mendoza has officially announced that the Public Hearing to consider the Company's San Jorge project Environmental Impact Study ("EIS") will be held on October 26th 2010 in Uspallata, the nearest town to the project, at 9.00 am local time in the Uspallata facilities of National Highway Administration. The Public Hearing is the final step in the consultation process prior to the EIS being submitted to the Provincial Government for approval, and if approved, presented to the Provincial House of Deputies and Senate for ratification.
Alan Stephens, President and CEO of Coro commented, "We are pleased that the official date for the Public Hearing has been published and look forward to presenting San Jorge to the people of Mendoza on October 26th."
Coro is fully committed to developing San Jorge in such a way that no water resources would be affected by contamination, as required by local and national laws and regulations, and by international best practices. The Company, through its subsidiary, Minera San Jorge, continues to follow a policy of complete transparency and frankness, and has stressed the economic and employment benefits of the project to Argentina, as well as a commitment to exacting industry standards in environmental management, and has invited citizen participation in the environmental monitoring of the operation. The Company has demonstrated its commitment to water conservation through the proposed use of paste tailings, which minimises water usage through recycling. It has committed to train as many local residents as possible for employment in the future operations at San Jorge.
CORO MINING CORP.
Alan Stephens, President and CEO
About San Jorge:
The San Jorge copper-gold project is located in Mendoza, Argentina. The Company completed an independent Preliminary Economic Assessment ("PEA"), in April 2008 which contemplated production of 39,500 tonnes of copper per annum and 39,000 ounces of gold per annum over a 16 year mine life. The deposit remains open to the west and at depth and using a $2.00 per pound copper and $600 per ounce gold price returned an after tax NPV of $220 million, with capital expenditures of $277 million.
Alan Stephens FIMMM, President and CEO of Coro, a geologist with more than 33 years of industry experience is the Qualified Person for Coro who has reviewed and approved the contents of this News Release. In respect of the PEA, it should be noted that mineral resources that are not mineral reserves do not have demonstrated economic viability.
About Coro Mining Corp.:
The Company was founded with the goal of building a mining company focused on medium-sized base and precious metals deposits in Latin America. The Company intends to achieve this through the exploration for, and acquisition of, projects that can be developed and placed into production. Coro's properties include the advanced San Jorge copper-gold project, in Argentina, and the Chacay, Llancahue and Celeste copper exploration properties located in Chile. The Company also holds 9,140,353 shares (a 20.0% interest) in Valley High, which holds the Cordero property in Mexico. (www.valleyhighventures.com).
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to the prices of copper, estimated future production, estimated costs of future production, permitting time lines, involve 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 such forward-looking statements or information. Such factors include, among others, the actual prices of copper, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's documents filed from time to time with the securities regulators in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador.
Alan Stephens, President and CEO of Coro commented, "We are pleased that the official date for the Public Hearing has been published and look forward to presenting San Jorge to the people of Mendoza on October 26th."
Coro is fully committed to developing San Jorge in such a way that no water resources would be affected by contamination, as required by local and national laws and regulations, and by international best practices. The Company, through its subsidiary, Minera San Jorge, continues to follow a policy of complete transparency and frankness, and has stressed the economic and employment benefits of the project to Argentina, as well as a commitment to exacting industry standards in environmental management, and has invited citizen participation in the environmental monitoring of the operation. The Company has demonstrated its commitment to water conservation through the proposed use of paste tailings, which minimises water usage through recycling. It has committed to train as many local residents as possible for employment in the future operations at San Jorge.
CORO MINING CORP.
Alan Stephens, President and CEO
About San Jorge:
The San Jorge copper-gold project is located in Mendoza, Argentina. The Company completed an independent Preliminary Economic Assessment ("PEA"), in April 2008 which contemplated production of 39,500 tonnes of copper per annum and 39,000 ounces of gold per annum over a 16 year mine life. The deposit remains open to the west and at depth and using a $2.00 per pound copper and $600 per ounce gold price returned an after tax NPV of $220 million, with capital expenditures of $277 million.
Alan Stephens FIMMM, President and CEO of Coro, a geologist with more than 33 years of industry experience is the Qualified Person for Coro who has reviewed and approved the contents of this News Release. In respect of the PEA, it should be noted that mineral resources that are not mineral reserves do not have demonstrated economic viability.
About Coro Mining Corp.:
The Company was founded with the goal of building a mining company focused on medium-sized base and precious metals deposits in Latin America. The Company intends to achieve this through the exploration for, and acquisition of, projects that can be developed and placed into production. Coro's properties include the advanced San Jorge copper-gold project, in Argentina, and the Chacay, Llancahue and Celeste copper exploration properties located in Chile. The Company also holds 9,140,353 shares (a 20.0% interest) in Valley High, which holds the Cordero property in Mexico. (www.valleyhighventures.com).
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to the prices of copper, estimated future production, estimated costs of future production, permitting time lines, involve 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 such forward-looking statements or information. Such factors include, among others, the actual prices of copper, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's documents filed from time to time with the securities regulators in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador.
For more information, please contact
Coro Mining Corp.
Michael Philpot
Executive Vice-President
(604) 682 5546
investor.info@coromining.com
www.coromining.com
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