Update on the Paraiso-Pambil Mine: C2C Intends to Close the Acquisition
April 22 2008 - 9:11AM
Marketwired
QUEBEC CITY, QUEBEC informs its investors about the impact of
the Mining Mandate adopted by Ecuador's Constituent Assembly last
Friday on the Company's mining activities in Ecuador. As a matter
of fact the Bella Rica mining concession is operated by a
Cooperative of active miners of which Mr David Andres Machuca
Granda, the holder of the Paraiso-Pambil mine, is a member and, as
of the date hereof, all the mining activities on the Concession
including the Paraiso-Pambil mine are carried on as usual through
the Cooperative giving work to over 5000 peoples. At the moment,
C2C is taking all the necessary steps in order to close the
acquisition of 50% of the Paraiso-Pambil mine. The resources of the
Paraiso-Pambil Mine were reported to be over 100 000 ounces of gold
according to Golder's NC 43-101 report, most of these resources are
concentrated in the main vein actually being mined (5 more parallel
veins are known to exist but not explored yet).
For the exploration projects, the 2 properties (Patricia and
Cerro de Oro) to be optioned from Mr Machuca, will probably have to
be acquired directly from the Authorities. Mr Machuca, also informs
the Company that other properties with the same or higher potential
will probably be available from the Ecuadorian Government in the
next few months as the renewed mining law will be adopted and
enforced.
Cautionary Note and Forward-looking Statements
This press release contains certain forward-looking statements
with respect to the Company. These forward-looking statements, by
their nature, necessarily involve risks and uncertainties that
could cause actual results to differ materially from those
contemplated by these forward-looking statements. The Company
considers the assumptions on which these forward-looking statements
are based to be reasonable, but cautions the reader that these
assumptions regarding future events, many of which are beyond its
control, may ultimately prove to be incorrect since they are
subject to risks and uncertainties that affect the Company. For
additional information with respect to these and other factors, see
the Company's quaterly and annual filings with the Canadian
Securities commissions. The Company disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
other than required by law.
The TSX Venture exchange does not accept responsibility for the
adequacy or accuracy of this press release.
Contacts: C2C Gold Corporation Inc. Yves Gagnon, CEO
418-650-4171 yves.gagnon@c2c-exploration.com
www.c2c-exploration.com
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