VANCOUVER, BC, April 26, 2021 /CNW/ - Aris Gold
Corporation (Aris Gold or the Company) (TSX: ARIS) (OTCQX:
ALLXF) announces it has taken several key steps in advancing the
Lower Mine project at the Marmato Mine in Colombia. These include:
- EPCM award. Following the completion of a competitive
tender process, Aris Gold has awarded the engineering, procurement
and construction management ("EPCM") contract to Wood, a global
leader in consulting and engineering with extensive experience
delivering mining projects across Latin
America.
- Receipt of US$34 million of
the US$110 million stream
financing. The Company has received the initial US$34 million of the US$110 million precious metals stream financing
from Wheaton Precious Metals International Ltd. Under the terms of
the agreement, the remaining US$76
million will be received in three installments as the
development of the Lower Mine progresses.
- Appointment of key project and operations management.
Aris Gold has recently retained the services of Peter Burger and Greg
Moss to strengthen its operating and construction team.
Peter and Greg both have a long history with the Aris Gold team
having previously worked in similar roles in Mexico and Brazil with Leagold Mining and in West Africa with Endeavour Mining. Peter and
Greg will both be based in Colombia and primarily dedicated to the
Marmato Upper Mine operations and the development of the Lower
Mine.
- Advancing community projects. The Company completed
construction of a major new 850m2 municipal park in the community
of Marmato in March 2021, and expects
to complete construction in May 2021
of a modern new community centre which will provide a central
location for education and training (see Photos 1 and 2). To
address the challenges of COVID-19 in the neighbouring communities,
Aris Gold continues to fund the distribution of medical supplies,
face masks, cleaning kits and nutrition packages.
Aris Gold CEO Neil Woodyer
commented: "Awarding the EPCM contract to Wood who is commencing
the detailed front-end engineering and design work is a key step to
ensure the successful development and construction of the Lower
Mine at Marmato, with construction scheduled to start in Q4 2021. I
am very pleased to welcome back Peter
Burger and Greg Moss to our
team with their extensive operations and mine building expertise,
at this timely moment. Peter and Greg will also be able to support
the modernization process of our current operations in the Marmato
Upper Mine. With these steps, we are making steady progress
advancing the Lower Mine project which will see Marmato develop
into a major long-life mine in Colombia. We are also pleased to continue to
support our local communities."
About Aris Gold
Aris Gold is a Canadian mining company listed on the TSX under
the symbol ARIS. The Company is led by an executive team with a
demonstrated track record of creating value through building
globally relevant gold mining companies. Aris Gold operates the
Marmato mine in Colombia, where a
modernization program is underway and new mine is in development,
and the Juby project, an advanced exploration stage gold project in
the Abitibi greenstone belt of Ontario,
Canada. Aris Gold plans to pursue acquisition and other
growth opportunities to unlock value creation from scale and
diversification.
Additional information on Aris Gold can be found at
www.arisgold.com and www.sedar.com.
Forward-looking Information
This news release contains "forward-looking information" or
forward-looking statements" within the meaning of Canadian
securities legislation. All statements included herein, other than
statements of historical fact, including without
limitation statements relating to receipt of the remaining
funds under the stream financing, expected timing of completion of
the community centre, and timing of the commencement of
construction of the Lower Mine project are forward-looking.
Generally, the forward-looking information and forward looking
statements can be identified by the use of forward looking
terminology such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", "will continue"
or "believes", or variations of such words and phrases or state
that certain actions, events or results "may", "could", "would",
"might" or "will be taken", "occur" or "be achieved". Statements
concerning mineral resource estimates may also be deemed to
constitute forward looking information to the extent that they
involve estimates of the mineralization that will be encountered.
The material factors or assumptions used to develop forward looking
information or statements are disclosed throughout this
presentation.
Forward looking information and forward looking statements,
while based on management's best estimates and assumptions, are
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance
or achievements of Aris Gold to be materially different from those
expressed or implied by such forward-looking information or forward
looking statements, including but not limited to: the ability of
the Aris Gold management team to successfully integrate with the
current operations, risks related to international operations,
risks related to general economic conditions, uncertainties
relating to operations during the COVID-19 pandemic, actual results
of current exploration activities, availability of quality assets
that will add scale, diversification and complement Aris Gold's
growth trajectory; changes in project parameters as plans continue
to be refined; fluctuations in prices of metals including gold; the
ability to convert mineral resources to mineral reserves;
fluctuations in foreign currency exchange rates, increases in
market prices of mining consumables, risks associated with holding
derivative instruments (such as credit risks, market liquidity risk
and mark-to-market risk), possible variations in mineral reserves,
grade or recovery rates; failure of plant, equipment or processes
to operate as anticipated; changes in national and local government
legislation, taxation, controls, regulations, regulations and
political or economic developments in Canada or Colombia, accidents and operations, labour
disputes, title disputes, claims and limitations on insurance
coverage and other risks of the mining industry; delays in
obtaining governmental approvals including obtaining required
environmental and other licenses, or in the completion of
development or construction activities, changes in national and
local government regulation of mining operations, tax rules and
regulations, and political and economic developments in countries
in which the Company operates, as well as those factors discussed
in the section entitled "Risk Factors" in Aris Gold's most recent
AIF available on SEDAR at www.sedar.com.
Although Aris Gold has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking information and forward-looking
statements, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no assurance
that such information or statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such information or statements. The Company has and
continues to disclose in its Management's Discussion and Analysis
and other publicly filed documents, changes to material factors or
assumptions underlying the forward-looking information and
forward-looking statements and to the validity of the information,
in the period the changes occur. The forward-looking statements and
forward-looking information are made as of the date hereof and Aris
Gold disclaims any obligation to update any such factors or to
publicly announce the result of any revisions to any of the
forward-looking statements or forward-looking information contained
herein to reflect future results. Accordingly, readers should not
place undue reliance on forward-looking statements and
information.
This announcement does not constitute an offer of securities for
sale in the United States, nor may
any securities referred to herein be offered or sold in
the United States absent
registration or an exemption from registration as provided in the
U.S. Securities Act of 1933 as amended (the "Securities Act") and
the rules and regulations thereunder. The securities referred to
herein have not been registered pursuant to the Securities Act and
there is no intention to register any of the securities in
the United States or to conduct a
public offering of securities in the
United States.
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SOURCE Aris Gold Corporation