TORONTO, ONTARIO--(Marketwire - Feb. 13, 2012) - Himalayan Capital Corp. ("Himalayan" or the "Company") (TSX VENTURE:HIM) is pleased to announce that the first phase of its drilling program has commenced at the Company's La Higuera Copper-Gold project in Chile. The Company has accelerated the drill program that was recommended in the Company's National Instrument 43-101 technical report with respect to the La Higuera Property (which is available on SEDAR under the Company's profile at www.sedar.com) and now includes 2,000 metres of diamond drilling and 2,000 metres of reverse circulation ("RC") drilling planned in 8 holes from 5 drill platforms (see map). The RC holes are planned to test the extension of mineralization beneath the small open-pit copper workings in the San Antonio zone shown on the Google image. These holes will also test the coincident magnetic and chargeability anomalies associated with the workings in this area.
The diamond drill holes are planned mainly to test the most intense part of the chargeability anomaly along strike to the northwest of the San Antonio zone, together with the adjacent and overlapping magnetic anomaly.
Stated David O'Connor, President and Chief Executive Officer of the Company: "We are very excited to start drilling at La Higuera and we anticipate learning a lot about this previously undrilled copper-gold mineralized system in the coming months."
About Himalayan Capital Corp.
Himalayan Capital Corp. is a mineral exploration company with the rights, through its wholly owned subsidiary Minera Azul Ventures Limitada, to acquire a 100% interest in a prospective copper-gold property in La Higuera, Chile (the "La Higuera Property"). The La Higuera Property, which is located approximately 600 kilometres north of Santiago, was assembled as a result of the first-time consolidation of mining rights in a historical copper-gold mining center and is located in a prolific I.O.C.G. belt surrounded by excellent infrastructure in a mining friendly jurisdiction.
The La Higuera Property covers a historic copper mining district with mining activity dating back to at least the late 18th century; however, there has been no known modern exploration conducted on the property. Since the consolidation of the mining rights in June 2011, Minera Azul has initiated a rock sampling program and completed geophysical work which has generated intense magnetic and chargeability anomalies coincident with existing copper workings.
Cautionary Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; market conditions; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified in the "Risk Factors" section of the Company's Filing Statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and Himalayan undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
To view the map associated with this press release, please visit the following link: http://media3.marketwire.com/docs/HimalayanMap1.pdf
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