Avrupa Minerals Receives $661,500 From Warrant Exercise; Grants Options
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 27, 2016) - Avrupa Minerals Ltd. (TSX VENTURE:AVU)(FRANKFURT:8AM) is pleased to announce that the Company has received $661,500 from the exercise of warrants and finders' warrants that expired on September 24, 2016. The funds received from the exercise of these warrants will be used for further exploration and development of the Company's mineral properties in Portugal and Kosovo.
Avrupa has three active joint ventures, including two in Portugal with copper, zinc and tungsten, and one in Kosovo with gold and silver. In its short 6year life, Avrupa has managed to conduct drill programs every year. Those programs have led to the discovery of the gold project in Kosovo, where a pre-feasibility study is currently nearing completion, along with an update to the gold resource estimate, and the discovery of VMS mineralization containing significant copper, zinc and lead in southern Portugal.
Avrupa also has other projects in Kosovo and Portugal where exploration programs are underway to prepare them for potential joint venture partners. Results from these programs will be announced as they come in.
The Board of Directors has also approved the issuance of 1,575,000 stock options to its directors, officers and consultants to purchase common shares of the Company at an exercise price of $0.18 per share for a period of five years, expiring on September 26, 2021.
Avrupa Minerals Ltd. is a growth-oriented junior exploration and development company focused on discovery, using a prospect generator model, of valuable mineral deposits in politically stable and prospective regions of Europe, including Portugal, Kosovo, and Germany.
The Company currently holds nine exploration licenses in three European countries, including six in Portugal covering 3,821 km2, two in Kosovo covering 47 km2, and one in Germany covering 307 km2. Avrupa has three joint ventures, two in Portugal and one in Kosovo, including:
- The Alvalade JV, with Colt Resources, covering one license in the Iberian Pyrite Belt of southern Portugal, for Zn/Cu-rich massive sulfide deposits;
- The Covas JV, with Blackheath Resources, covering one license in northern Portugal, for intrusion-related W deposits; and
- Avrupa's partner at the Slivovo Gold Project in Kosovo is presently advancing the Project by funding and operating a pre-feasibility study.
Avrupa is currently upgrading precious and base metal targets to JV-ready status in a variety of districts on their other licenses, with the idea of attracting potential partners to project-specific and/or regional exploration programs.
On behalf of the Board,
Paul W. Kuhn, President & Director
This news release was prepared by Company management, who take full responsibility for its content. Paul W. Kuhn, President and CEO of Avrupa Minerals, a Licensed Professional Geologist and a Registered Member of the Society of Mining Engineers, is a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators. He has reviewed the technical disclosure in this release. Mr. Kuhn, the QP, has not only reviewed, but prepared and supervised the preparation or approval of the scientific and technical content in the news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.