Exo Metals Company (TSXV:Abandoned ordnance) (“Axo”, “Axo Metals” or the “Company”) is pleased to announce that the Mexican Federal Environmental Administration (“SEMARNAT”) has issued a positive decision approving the Environmental Impact Statement (“Manifestos de Impacto Ambiental” or “MIA”) for the San Antonio Gold Project located in the state of Sonora.
This historic approval confirms the environmental benefits of the San Antonio project and grants the initial permit required to build and operate the mine.
“Receiving MIA is the final green light from SEMARNAT that we have been working toward,” says Jonathan Ighello, President and CEO. “We are excited and committed to leveraging our existing infrastructure in San Antonio and bringing the project back into production. Today’s announcement represents an important milestone. Axo is committed to responsible resource development, and we will continue working to create long-term value for the people of Sonora and our shareholders.”
With the MIA in hand, Axo Metals is positioned for near-term production. The newly released MIA covers all existing infrastructure and resources across all deposits in San Antonio. Prior to commencing mining at the Sapoche, Golfo de Oro and California deposits, the Company is finalizing a standard administrative follow-up regarding Change of Use of Soil (“CUS”). The CUS application was submitted earlier this year. The company views CUS as a routine additional step and expects it to be approved before the end of the year. The company’s core infrastructure – including the former Luz del Cobre production open pit, existing stockpiles, landfills, plume carbon processing facility, and camp – is fully permitted and does not require further soil use permits.
Axo Metals remains committed to responsible resource development and continues to enjoy a strong, collaborative relationship with local communities in Sonora as it moves toward gold production.
About Exo Metals
Axo Metals is a Canadian mineral exploration company engaged in exploration and development in Mexico. The company owns two projects. The San Antonio project is located in the state of Sonora and is in an advanced development stage. Total resources at San Antonio are 576 kos Au and 1.37 million geese Ag grading 1.20 g/t Au and 2.9 g/t Ag in the indicated category, with 544 kos Au and 1.76 million geese Ag grading 1.02 g/t Au and 3.3 g/t Ag in the inferred category across all deposit types (oxide, transition and sulfide). Axo’s second project is the La Huerta property, a new copper discovery in Jalisco, Mexico. Initial exploration has yielded high-quality copper both at the surface through sampling programs and at depth through initial drilling. The company is focused on continuing to identify near-surface mineralization along the La Huerta trend, expanding mineralization at depth, and targeting new discoveries in an unexplored area.
Additional information can be found on the company’s website: www.axometals.com.
For inquiries, please contact:
Jonathan Ighello, President and CEO
Via email: (email protected)
Forward-looking information:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release includes certain “forward-looking statements.” All statements other than statements of historical fact contained in this release, including, without limitation, statements regarding the offering and the Company’s plans with respect to the ownership of La Huerta and the receipt of all necessary regulatory approvals, are forward-looking statements that involve various risks and uncertainties. Forward-looking statements are often characterized by words such as “will”, “suggests”, “may”, “expected”, “subject”, “anticipates”, “estimates”, “intends”, “plans”, “projection”, “could”, “vision”, “goals”, “goal”, “focus”, “outlook” and other similar words. The forward-looking information contained in this press release is based on management’s opinions and assumptions that are considered reasonable as of the date hereof, including, without limitation, that general business and economic conditions will not change in a material adverse manner; the potential for high-grade copper mineralization at the Company’s properties; The results (if any) of additional exploration work to identify and expand mineral resources; the ability of exploration (including drilling) to accurately predict mineralization; And the ability to generate additional drilling targets. Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, there can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include environmental risks, limitations on insurance coverage, risks and uncertainties relating to exploration, development, operations, commodity prices, global financial fluctuations including the result of tariffs, risks and uncertainties relating to operating in a foreign jurisdiction as well as additional risks described from time to time in filings the Company makes with securities regulators. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
Cautionary Statement: Surface or chip samples are by nature selective samples and may not represent true underlying mineralization.
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