Camino Minerals Corporation (TSXV)(OTCID) ("Camino" or the "Company") is pleased to announce that, after successfully completing the critical engineering phase study with Ausenco, the company has officially held the kickoff meeting for the next phase of detailed engineering services with Ausenco Chile Ltda. ("Ausenco") for the copper project Puquios (the "Puquios Project")
This transition to detailed engineering represents a significant advancement in the development of the project, allowing for the definition of technical specifications and preparing the Puquios Project for the construction phase.
Marcelo Bruna, CEO of the Puquios joint venture, stated: "With the start of detailed engineering, the management team remains focused on the rigorous tracking of milestones and cost control as we move towards the start of construction."
Jay Chmelauskas, CEO of Camino, added: "We are working closely with Nittetsu to finalize agreements aimed at obtaining a possible line of financing through Japanese debt that will allow us to start construction, and the next phase of detailed engineering keeps the project on track. Ausenco is a top-tier engineering and consulting firm that has conducted previous engineering studies for the Puquios Project and is well positioned to take the project to the construction phase."
The detailed engineering phase will be developed according to the following parameters:
Total engineering: 85,000 hours of specialized engineering work are estimated.
Duration of the phase: a duration of 12 months is expected to keep the project on schedule during construction.
Capital allocation: valued at 6.2 million US dollars, allocated and optimized within the project's capital expenditure budget.
Value generation: provide accurate data to streamline procurement and minimize rework on the ground through the use of advanced 2D and 3D models and constructability optimization.
About Ausenco
Ausenco is a global engineering, consulting, and project execution company specializing in the minerals and metals industry. With three decades of international experience, Ausenco works alongside its clients to tackle complex challenges, from initial studies to final closure, across all phases of projects and on five continents.
Deeply rooted in the minerals and metals industry, Ausenco professionals combine solid technical knowledge, practical experience, and insights gained over the years to provide practical and forward-looking solutions that reduce risks and generate value.
About Camino
Camino is a copper exploration company in the discovery and development phase. Through Cuprum Resources Chile SpA, a 50% joint venture with Nittetsu Mining Co., Ltd., Camino is advancing the Puquios copper project in Chile, ready to begin construction, towards the development and production phases.
Camino is also progressing on its IOCG Costa de Cobre copper project, located in Peru, a joint venture with Nittetsu Mining in which Camino holds a 65% interest, aiming to delineate resources, develop the project, and make new discoveries.
Additionally, Camino has obtained permits to carry out exploration drilling aimed at making new discoveries in the Maria Cecilia copper porphyry project, in order to expand its resources according to NI 43-101 standards.
Furthermore, Camino has expanded its land area in the Plata Dorada copper and silver project.
Camino seeks to acquire a portfolio of advanced copper assets that have the potential to supply this metal to an increasingly electrified global economy with high copper demand.
For more information, visit Camino's website at www.caminocorp.com.
Neither the TSX Venture Exchange nor its regulatory service provider (as defined in the policies of the TSX Venture Exchange) assumes any responsibility for the sufficiency or accuracy of this release.
Warning about forward-looking statements
Certain information contained in this release constitutes forward-looking information. In making the forward-looking statements included in this release, the Company has applied certain factors and assumptions based on its current beliefs, as well as the assumptions made and the information currently available to it.
The forward-looking information contained in this statement includes, among other aspects, statements regarding the expectation of obtaining a line of financing through debt, the start of the disbursement of funds and the construction of the Puquios Project, as well as the growth prospects of the business through technology or other means.
Although the Company considers that these assumptions are reasonable based on the information currently available, they could prove incorrect, and the forward-looking information contained in this statement is subject to numerous risks, uncertainties, and other factors that could cause future results to differ substantially from those expressed or implied in such forward-looking information.
Among these risk factors are included, among others, the possibility that the actual results of the Company's exploration activities differ from those anticipated by management; that geological interpretations, including the continuity or extent of mineralized bodies, may change as a result of additional drilling; that the Company may not realize the benefits of joint ventures and/or strategic alliances; that the Company may not obtain the necessary permits, authorizations, and approvals or may experience delays in obtaining them; the operational and technical risks inherent in exploration; that the proposed line of financing through debt may not be formalized under the currently anticipated conditions or may not be formalized at all; and the risks related to the situation of the stock and commodity markets.
Readers are warned not to place undue reliance on forward-looking statements.
The Company does not intend to update or revise any forward-looking statement and expressly disclaims any intention or obligation to do so, whether as a result of new information, future events, or other circumstances, except as required by applicable law.