INV Metals Provides Update on the Loma Larga Project
TORONTO, Sept. 18, 2019 - INV Metals Inc. (“INV Metals” or the “Company”) (TSX:INV) provides an update on the 100% owned Loma Larga property, located in Ecuador.
The Company reports that the Constitutional Court of Ecuador has considered the application to hold a proposed referendum related to mining activities within the Province of Azuay, as well as an application in the canton of Camilo Ponce Enriquez, and has denied the applications stating neither met the required criteria to proceed. The Company's Loma Larga Mineral Resources and Reserves are located within the Province of Azuay.
Ms. Candace MacGibbon, CEO, stated, “The Company will commence its financing and permitting efforts within the laws and regulations of Ecuador with the support from our many stakeholders, the Government, and the mining industry. Loma Larga is one of five strategic mining projects identified by the Ministry of Energy and Nonrenewable Resources.”
The Constitutional Court in its press release of September 17, 2019 stated that it “will carry out a formal and material control, case by case, regarding the origin of popular consultations on metal mining, analyzing whether these violate rights or imply reforms to the Constitution, and if they meet the requirements of loyalty, clarity and transparency required by law to guarantee the rights of voters.”
Many stakeholders submitted strong petitions detailing the legal arguments supporting the unconstitutionality of the applications and in support of the mining sector, including the Ministry of Energy and Nonrenewable Resources, the Attorney General’s Office, EP Petroecuador, the Chamber of Industry, the Chamber of Mines, numerous international mining companies operating within Ecuador, the Regional Mining and Geologist Association, and various supportive communities.
INV Metals, along with other international and Ecuadorian mining and exploration companies, hold legally granted concessions within Ecuador, and we will continue to work together with both the Government and the mining industry to promote the significant benefits of responsible and sustainable mining development and to defend our legally granted mineral rights.
About INV™ Metals Inc.
INV™ Metals is an international mineral resource company focused on the acquisition, exploration and development of precious and base metal projects in Ecuador. Currently, INV™ Metals’ primary assets are: (1) its 100% interest in the Loma Larga gold exploration and development property in Ecuador, and (2) its 100% interests in exploration concessions in Ecuador, including the Las Peñas, Tierras Coloradas, La Rebuscada and Carolina exploration projects.
For more information please contact:
Candace MacGibbon
Chief Executive Officer
Phone: (416) 703-8416
E-mail: cmacgibbon@invmetals.com
Forward Looking Statements
This press release contains forward-looking information. Forward-looking information contained in this new release includes, but is not limited to, statements with respect to the results of any hearings or applications, the potential for future applications or referendums, and the support of the Government of Ecuador and others for the mining industry. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management’s expectations. In certain cases, forward-looking information may be identified by such terms as “anticipates”, “believes”, “could”, “estimates”, “expects”, “may”, “shall”, “will”, or “would”. Forward-looking information contained in this press release is based on certain factors and assumptions made by management and qualified persons in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management and the qualified persons believe are appropriate in the circumstances. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the results of future applications or referendums to differ from the results contained in this news release and the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to grade or recovery rates, reliance on key personnel, operational risks, regulatory, capitalization and liquidity risks. Please refer to the Company’s Annual Information Form dated March 28, 2019 filed on SEDAR at www.sedar.com for other risks that could materially affect the Company. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on the Company’s forward-looking information. The Company does not undertake to update any forward-looking information that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.