VANCOUVER, British Columbia,
October 7, 2013 /PRNewswire/ --
Capstone Mining Corp. ("Capstone") (TSX: CS) announced today
that all conditions to the completion of the previously announced
acquisition of the Pinto Valley copper mining operation and the
associated San Manuel Arizona Railroad Company have now been met
and Capstone and BHP Billiton will now proceed to close the
transaction with a target date of October
11, 2013.
About Capstone Mining Corp.
Capstone Mining Corp. is a Canadian base metals mining company,
committed to the responsible development of our assets and the
environments in which we operate. We are preferentially focused on
copper, with two producing copper mines, the Cozamin
copper-silver-zinc-lead mine located in Zacatecas State,
Mexico and the Minto copper-gold-silver mine in Yukon, Canada. In addition, Capstone has two
development projects, the large scale 70% owned Santo Domingo copper-iron-gold project in
Chile in partnership with Korea
Resources Corporation and the 100% owned Kutcho
copper-zinc-gold-silver project in British Columbia, as well as exploration
properties in Canada, Chile, Mexico
and Australia. Using our cash flow
and strong balance sheet as a springboard, Capstone aims to grow
with continued mineral resource and reserve expansions,
exploration, and through acquisitions in politically stable,
mining-friendly regions. Our headquarters are in Vancouver, Canada and we are listed on the
TSX. Further information is available at
http://www.capstonemining.com.
Cautionary Note Regarding
Forward-Looking Information
This document may contain "forward-looking information" within
the meaning of Canadian securities legislation and "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 (collectively,
"forward-looking statements"). These forward-looking statements are
made as of the date of this document and Capstone Mining Corp. (the
"Company") does not intend, and does not assume any obligation, to
update these forward-looking statements, except as required under
applicable securities legislation.
Forward-looking statements relate to future events or future
performance and reflect Company management's expectations or
beliefs regarding future events and include, but are not limited
to, statements with respect to the estimation of mineral reserves
and mineral resources, the conversion of mineral resources to
mineral reserves, the anticipated date of closing of the
acquisition of Pinto Valley and the associated financing, the
realization of mineral reserve estimates, the timing and amount of
estimated future production, costs of production, capital
expenditures, success of mining operations, environmental risks,
unanticipated reclamation expenses, title disputes or claims and
limitations on insurance coverage. In certain cases,
forward-looking statements can be identified by the use of words
such as "plans", "expects" or "does not expect", "is expected",
"outlook", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes",
or variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved" or the negative of these
terms or comparable terminology. In this document certain
forward-looking statements are identified by words including
"scheduled", "guidance", "plan", "planned", "estimated",
"projections", "projected" and "expected". By their very nature
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause 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 statements. Such
factors include, among others, risks related to actual results of
current exploration activities; changes in project parameters as
plans continue to be refined; future prices of mineral resources;
possible variations in ore reserves, grade or recovery rates;
accidents; dependence on key personnel; labour pool constraints;
labour disputes; availability of infrastructure required for the
development of mining projects; delays in obtaining governmental
approvals or financing or in the completion of development or
construction activities; and other risks of the mining industry as
well as those factors detailed from time to time in the Company's
interim and annual financial statements and management's discussion
and analysis of those statements, all of which are filed and
available for review on SEDAR at http://www.sedar.com. Although the
Company has attempted to identify important factors that could
cause actual actions, events or results to differ materially from
those described in forward-looking statements, there may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should
not place undue reliance on forward looking statements.
Cautionary Note to United States
Investors
This news release contains disclosure that has been prepared in
accordance with the requirements of Canadian securities laws, which
differ from the requirements of U.S. securities laws. Without
limiting the foregoing, this news release uses the terms
"indicated" and "inferred" resources. U.S. investors are cautioned
that, while such terms are recognized and required by Canadian
securities laws, the SEC does not recognize them. Under U.S.
standards, mineralization may not be classified as a "reserve"
unless the determination has been made that the mineralization
could be economically and legally produced or extracted at the time
the reserve determination is made. U.S. investors are cautioned not
to assume that all or any part of indicated resources will ever be
converted into reserves. U.S. investors should also understand that
"inferred resources" have a great amount of uncertainty as to their
existence and as to whether they can be mined legally or
economically. It cannot be assumed that all or any part of
"inferred resources" will ever be upgraded to a higher category.
Therefore, U.S. investors are also cautioned not to assume that all
or any part of inferred resources exist, or that they can be mined
legally or economically. Accordingly, information concerning
descriptions of mineralization and resources contained in this news
release may not be comparable to information made public by U.S.
companies subject to the reporting and disclosure requirements of
the SEC.
For further information:
Cindy Burnett, VP, Investor
Relations and Communications
+1-604-637-8157
cburnett@capstonemining.com
SOURCE Capstone Mining Corp.