/NOT FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
TORONTO,
June 22, 2012 /CNW/ - Further to its
news release dated February 16, 2012,
Karmin Exploration Inc. ("Karmin") (TSXV: KAR) is pleased to
announce that the Peruvian Superintendence of the Securities Market
has approved the listing of Karmin's common shares for trading on
the Bolsa de Valores de
Lima. The common shares are expected to be begin
trading on the Bolsa de Valores de
Lima on Monday, June 25,
2012. KALLPA Securities Sociedad Agente de Bolsa S.A.
acted as Karmin's sponsoring broker for the listing.
Karmin's Chief Executive Officer, David
Brace, stated "We are very pleased to have obtained this
important listing. Currently, over 30% of Karmin's common
shares are held by South American investors. As the Bolsa de
Valores de Lima is the third largest
stock exchange in Latin America,
we believe that Karmin's listing will significantly increase
Karmin's exposure to current and potential investors in
South America and will represent a
vital step in Karmin's continued exploration and development of its
projects in Peru and Brazil."
About Karmin
The common shares of Karmin are listed on the TSX Venture
Exchange and trade under the symbol "KAR" and are expected to
commence trading on the Bolsa de Valores de
Lima on Monday June 25, 2012.
The principal business of Karmin is to acquire, explore and develop
resource properties.
Karmin owns 100% of the 25-square-kilometre Cushuro Gold Project
located in the world-class Alto Chicama gold-mining district of
northern Peru.
Karmin owns 100% of the Aripuanã Gold-Silver Project, which
encompasses the gold and silver mineralization associated with
near-surface oxidized portions of numerous massive-sulphide
deposits in the 820-square-kilometre Aripuanã Zinc Project in
north-western Brazil.
Karmin owns 30% of the Aripuanã Zinc Project, one of the largest
undeveloped zinc projects in Brazil. The Aripuanã Zinc Project covers a
mineralized massive-sulphide district that includes five areas of
mineralization (Ambrex, Arex, Babacu, Massaranduba and Mocoto) over
a 25- kilometre strike length. A technical report completed
by AMEC International (Chile) S.A.
in accordance with National Instrument 43-101-Standards of
Disclosure for Mineral Projects in 2007 (available on SEDAR,
www.sedar.com) states that the Ambrex deposit has indicated
resources of 18.3 million tonnes grading 4.0% zinc, 1.5% lead, 0.18
g/t gold and 35.6 g/t silver. The Arex deposit has indicated
resources of 9.4 million tonnes grading 2.5% zinc, 1.0% lead, 0.45
g/t gold and 34.7 g/t silver. Votorantim owns 70% of the
Aripuanã Zinc Project, but assumes 100% of the project costs until
the completion of a bankable feasibility study
Disclaimer Relating to Forward-Looking Information
This news release contains forward-looking
statements that are based on the belief of management and reflect
Karmin's current expectations. Forward-looking statements include,
but are not limited to, possible events and statements. The words
"plans," "expects," "is expected," "scheduled," "estimates,"
"forecasts," "projects," "intends," anticipates," 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," and similar expressions identify
forward-looking statements. The forward-looking statements
and information in this press release include, but are not limited
to, the date upon which the common shares of Karmin are listed on
the Bolsa de Valores de Lima,
information relating to the business plans of Karmin and the
anticipated benefit to Karmin resulting from the listing on the
Bolsa de Valores de Lima, including
access to capital and the exploration and development of its
projects. Such statements and information reflect the current
view of Karmin with respect to risks and uncertainties that may
cause actual results to differ materially from those contemplated
in those forward-looking statements and information.
Such statements are not historical facts.
Readers are cautioned not to place undue reliance on
forward-looking statements, as there can be no assurance that the
plans, intentions or expectations upon which they are based will
occur. By their nature, forward-looking statements involve numerous
assumptions, known and unknown risks and uncertainties, both
general and specific, that contribute to the possibility that the
predictions, forecasts, projections in the forward-looking
statements will not occur, and that actual performance and results
in future periods may
differ materially from any estimates or
projections of future performance or results expressed or implied
by such forward-looking statements.
The Cushuro Gold Project, the Aripuanã
Gold-Silver Project and the Aripuanã Zinc Project and the land they
relate to are exploration properties only. Accordingly, there
are a number of important factors that could cause Karmin's actual
results to differ materially from those indicated or implied by
forward-looking statements and information. Such factors include,
among others, the timing and content of work programs, results of
the development of mineral properties, the interpretation of
drilling results and other geological data, the uncertainties of
resource and reserve estimates, receipt and security of mineral
property titles, receipt of licenses to conduct mining activities,
project cost overruns or unanticipated costs and expenses,
fluctuations in metal prices and general market and industry
conditions, changes in national and local government legislation,
taxation, controls, policies and regulations, the security of
personnel and assets, and political or economic developments in
Canada, Peru and Brazil, operating or technical difficulties in
connection with mining or development activities, employee
relations, the speculative nature of mineral exploration and
development and the risks and hazards associated with the business
of mineral exploration, development and mining, including
environmental hazards, industrial accidents, unusual or unexpected
formations, pressures, cave-ins and flooding.
Karmin cautions that the foregoing list of
material factors is not exhaustive. When relying on Karmin's
forward-looking statements and information to make decisions,
investors and others should carefully consider the foregoing
factors and other uncertainties and potential events. Karmin has
assumed a certain progression of events which may not be realized.
It has also assumed that the material factors referred to in the
previous paragraph will not cause such forward-looking statements
and information to differ materially from actual results or events.
However, the list of these factors is not exhaustive and is subject
to change and there can be no assurance that such assumptions will
reflect the actual outcome of such items or factors.
The forward-looking statements contained in this
news release are made as of the date of this news release. Readers
should not place undue importance on forward-looking information
and should not rely upon this information as of any other date.
Except as required by law, Karmin disclaims any intention and
assumes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. Additionally, Karmin undertakes no obligation to
comment on the expectations of, or statements made by, third
parties in respect of the matters discussed above.
The TSX Venture Exchange has not reviewed and
does not accept responsibility for the adequacy or accuracy of this
news release.
SOURCE Karmin Exploration Inc.