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IRW-Press: Cyprium Amendment To Ogden agreement



Published on 22 July 2014



by Press Office

(IRW-PRESS and WireNews)

Vienna, Austria


Cyprium Mining Corporation (“Cyprium Mining” or the “Company”) (TSX-V:CUG) - Property Agreement. The TSX Venture Exchange has accepted for filing the documentation in connection with a letter of amendment dated June 23, 2014, between Cyprium Mining Corp. and North American Exploration Ltd. to amend an option agreement dated Sept. 1, 2011, to acquire a 100-per-cent interest in the Ogden property. Pursuant to the amendment, Cyprium will issue an additional 25,000 common shares in consideration of a reduction by $30,000 (from $300,000 to $270,000) of the minimum exploration expenditures requirement to purchase the property.

Please refer to the company's news release dated July 17, 2014, for more information.

About Cyprium Mining Corporation

Cyprium Mining Corporation is a mining exploration company listed on the TSX Venture Exchange under the symbol 'CUG' (“Cyprium”). Cyprium is a mineral exploration company which targets the acquisition and generation of mining projects located solely in Northern Mexico that have a potential for profitable precious and base metal open pit and underground production. The Company’s main project is the Las Cristinas copper/silver project located in Chihuahua State, Mexico. Cyprium owns 51% of Coyame Copper SA de CV (“Coyame Copper”), a Chihuahua, Mexico based mining exploration company and has an option to increase its stake in Coyame Copper to 70% for a consideration of US $1.2 million payable over a period of eighteen months following the exercise of the option. Coyame Copper’s Las Cristinas Project consist of four adjacent exploration concessions (Las Cristinas, La Parrita, La Verde and La Lagrimosa) covering 684 hectares. Coyame Copper also owns production assets located outside the town of Coyame, Mexico.

For further information, please contact:

Andre St-Michel, President and CEO

Email: astmichel@cypriummining.com

Phone: (514) 629 7185

Alain Lambert, Chairman

Email: alambert@cypriummining.com

Phone: (514) 219-7988

Carl Desjardins, Paradox IR

Email: carldesjardins@paradox-pr.ca

Phone: (514) 341 0408

Website: http://www.cypriummining.com

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.

The geological information of this release have been verified by Jacques Marchand, P.Eng., a Qualified Person under NI 43-101.

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, those concerning the Company’s anticipated plans for developments of the Company and its mining projects”.

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 the 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. Investors should note that the Las Cristinas property has no established mineral resources or mineral reserves as defined by NI 43-101. Although Cyprium Mining has made an initial production decision based on historical production records and the results of the recent sampling, a feasibility study has not been completed and there is no certainty that the proposed operation will be economically or technically viable. The completion of each phase of drilling is contingent on the successful completion of the previous one.


Contacts

  •  
  • Joachim Brunner
  • IRW-Press
  • PR Contact
  • Tel: +43724221193011
  •  
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Posted 2014-07-22 15:18:00