VANCOUVER, British Columbia, March 19, 2014 (GLOBE NEWSWIRE) -- Evrim Resources Corp. (TSX.V:EVM) ("Evrim" or the "Company") has been advised by its partner, First Quantum Minerals Inc. ("First Quantum"), that it is relinquishing its options to earn up to a 60% interest in the Suaqui Verde and Cardeleña projects in Sonora, Mexico.
Evrim President & CEO Paddy Nicol stated, "We would first like thank First Quantum for their exploration expertise and financial support on the Suaqui Verde and Cardeleña projects over the past three years. Exploration work totalling $3.7 million included geochemical and geophysical surveys, and 9,700 meters of drilling. This information has helped contribute to our understanding of the Suaqui Verde and Cardeleña projects, and the greater Suaqui Verde district. Evrim is in the process compiling the data received from First Quantum to determine the next steps for exploration at both projects."
About the Suaqui Verde and Cardeleña Projects
The Suaqui Verde project covers approximately 65 km² of ground located in the southern portion of the highly prospective Sonora porphyry belt, host to the world class Cananea and La Caridad porphyry deposits. The project has been explored mostly for porphyry copper mineralization with potentially three porphyry copper, or related systems, identified to date.
The Cardeleña project consists of approximately 30 km² of mineral tenure contiguous to the west of the Suaqui Verde Project. The project was most recently explored for extensions to Suaqui Verde's porphyry copper systems but historic work focused on gold bearing quartz-tourmaline±magnetite breccia-related mineralization. Recent porphyry exploration work encountered zones of interesting gold mineralization. Evrim is in the process of analyzing these new results in relationship to the historic work.
About Evrim Resources
Evrim Resources is a mineral exploration company whose goal is to participate in significant exploration discoveries supported by a sustainable business model. The Company has a diverse range of quality projects and a database in Mexico and portions of southwestern United States. The existing projects, generation of quality exploration targets, and ideas are advanced through option and joint venture agreements with industry partners to create shareholder value. Evrim's business plan also includes royalty creation utilizing the Company's exploration expertise and existing projects.
On Behalf of the Board
EVRIM RESOURCES CORP.
President & CEO
To find out more about Evrim Resources Corp., please contact Paddy Nicol, President or Lisa Stefan, Manager of Investor Relations at 604-248-8648, or visit www.evrimresources.com.
This news release includes certain statements that may be deemed "forward-looking statements." All statements in this news release, other than statements of historical facts, that address events or developments that Evrim Resources Corp. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither 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.
PADDY NICOL OR LISA STEFAN TEL: 604.248.8648 FAX: 604.248.8663 WWW.EVRIMRESOURCES.COM