Cabia Goldhills Inc. ("Cabia") (TSX VENTURE:CGH) is pleased to announce
significant progress in its negotiation with the association of artisanal miners
which operates four artisanal mines adjacent to Cabia's 100% owned Mejia Gold
Project in the Province of Bolivar, Colombia. 


Cabia is in an advanced negotiation for an agreement with the Association de
Mineros de Pueblito Mejia (ASOAGROMIPUME) that has the rights of exploration and
exploitation of the La Gloria Mine, El Fogaje Mine, Los Romanes Mine and El
Turco Mine (the "Mejia Mines"). During the recent meeting of the general
assembly of ASOAGROMIPUME, its members empowered their Board of Directors to
conclude the final agreement with Cabia.


About the Mejia Mines: 

The Mejia Mines are four active artisanal mines exploiting high grade veins. A
number of other historical mines and vein systems are also present on the
concession. 


El Fogaje, Los Romanes and El Turco are underground mines exploiting one of the
main veins in the area. Reconnaissance work done by Cabia suggest the presence
of a base metal-carbonate type auriferous system with gold mineralization
characterized by the presence of massive sulphide mineralization containing
sphalerite, galena, pyrite, minor chalcopyrite and quartz. This high-grade vein
was sampled by Cabia and returned grades as high as 171.5 g/t Au. The La Gloria
Mine is exploiting a second high grade vein with similar geology. Samples taken
by Pierre O'Dowd, returned grades as high as 155.5g/t Au, as reported in Cabia's
NI-43-101 report on the Mejia Project available on the company's SEDAR profile
at http://www.sedar.com. 


About the Mejia Gold Project: 

The Mejia Gold Project is a 6,946 ha mineral concession located close to sea
level and outside any environmentally restricted areas in the Sur de Bolivar
region of the Department of Bolivar, Colombia, where intense artisanal mining is
present in an under-explored gold district with high potential. 


Shareholders meeting: 

The annual general meeting of the shareholders of Cabia will be held at 4:30 pm
on May 29, 2012 at 1002 Sherbrooke St. West, Suite 2800, Montreal H3A 3L6. All
shareholders are welcomed. 


Cabia is a TSX-V listed junior exploration company focused upon the exploration
and development of gold projects in Colombia. Cabia currently has less than 35
million shares outstanding. 


Quality Control and Assurance: 

Pierre O'Dowd P. Geo., is the "Qualified Person", as defined by National
Instrument 43-101, who has read and approved the technical and scientific
information in this news release.


Statements in this press release contain forward-looking information within the
meaning of applicable securities law. Forward-looking information is frequently
characterized by words such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate" and other similar words, or statements that certain
events or conditions "may" or "will" occur. Readers are cautioned that
assumptions used in the preparation of forward-looking information may prove to
be incorrect. Although we believe that the expectations reflected in the
forward-looking information are reasonable, there can be no assurance that such
expectations will prove to be correct. We cannot guarantee future results, level
of activity, performance or achievements. Consequently, there is no
representation that the actual results achieved will be the same, in whole or in
part, as those set out in the forward-looking information. There is no guarantee
that the acquisition of the Mejia Mines will be completed. 


Forward-looking information is based on the opinions and estimates of management
at the date the statements are made, and are subject to a variety of risks and
uncertainties and other factors (many of which are beyond the control of Cabia)
that could cause actual events or results to differ materially from those
anticipated in the forward-looking information. Some of the risks and other
factors could cause results to differ materially from those expressed in the
forward-looking information include, but are not limited to: general economic
conditions, the risks associated with the mining exploration, commodity prices
and exchange rate changes. Industry related risks could include, but are not
limited to: operational risks in exploration, development and production; delays
or changes in plans; competition for and/or inability to retain other services;
competition for, among other things, capital, acquisitions of reserves,
undeveloped lands, skilled personnel and supplies; risks associated to the
uncertainty of reserve estimates; governmental regulation, including
environmental regulation; geological, technical, drilling and processing
problems and other difficulties in producing reserves; the uncertainty of
estimates and projections of production, costs and expenses; unanticipated
operating events or performance which can reduce production or cause production
to be shut in or delayed; incorrect assessments of the value of acquisitions;
the need to obtain required approvals from regulatory authorities; stock market
volatility; access to capital; and other factors. Readers are cautioned that
this list of risk factors should not be construed as exhaustive. The
forward-looking information contained in this news release is expressly
qualified by this cautionary statement. Cabia does not undertake any obligation
to update or revise any forward-looking statements to conform such information
to actual results or to changes in our expectations except as otherwise required
by applicable securities legislation. Readers are cautioned not to place undue
reliance on forward-looking information.


Cabia Goldhills (TSXV:CGH)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more Cabia Goldhills Charts.
Cabia Goldhills (TSXV:CGH)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Cabia Goldhills Charts.