LAS VEGAS, September 26, 2013 /PRNewswire/ --
Amarium Technologies Inc. (OTC: AMMG), through its wholly owned
subsidiary Amarium Minerals Inc., reports that the Company has
completed an agreement with Minera Cobre SA de CV to purchase
50,000 tonnes of high-grade ore over the next 24 months. The
purchased ore is to have an average grade in excess of 2.1% copper
per tonne and is to be used as feedstock for both the Jovita Mill
and the San Pedro Mill, located in Michaocan, Mexico, while the Company conducts advanced
exploration activities at the Jovita property.
"It is key for the Company to keep our existing production
facilities operating with sufficient supply and the agreement with
Minera Cobre secures a source of high-grade copper ore to utilize
as feedstock during our exploration activities at Jovita," said
Adam Carter, President & CEO of
Amarium. "Our intention is to continue to operate both our mills at
their full capacity during this phase and as the ongoing
exploration programs advance. It is also vital that the Company
builds up adequate stockpiles of ore to be processed after the
upgrades at the Jovita Mill have been completed. The Minera
agreement enables the Company to satiate our production
requirements to our partner, Anglo-Asia, and continue to increase the asset base
for our shareholders through earnings and the expansion of our
mineral resource. In facilitating this initiative, we have
been able to complete this agreement with Minera at terms that fix
of our production costs over the next 24 months."
The agreement calls for the delivery of approximately 2,000
tonnes of high-grade ore to be delivered by Minera Cobre monthly.
Further details of the agreement will be released at a later
date.
Amarium is focused on the acquisition and development of base
metals projects in Mexico that are
currently in or near production and advanced exploration properties
that will add substantially to the Company's asset foundation.
Management is continuing to actively pursue mineral interests that
represent significant growth, value and cash flow
opportunities.
For additional information, please
visit: http://www.amariumminerals.com
This press release contains statements that are forward-looking
and which involve a number of risks and uncertainties. Such
forward-looking statements are within the meaning of that term in
Section 27A of the Securities Act of 1933, as amended and Section
21E of the Securities Exchange Act of 1934, as amended. The
forward-looking statements in question are based on Amarium
Technologies, Inc.'s current expectations and projections about
future events, based on information currently available. The
forward-looking statements found in this press release may also
include statements relating to Amarium Technologies, Inc.'s
anticipated financial performance, business prospects, new
developments, strategies, and similar matters. Amarium
Technologies, Inc. provides no assurance regarding the actual
outcome of the events contemplated by any forward-looking
statements included in this release. Amarium Technologies, Inc.
disclaims any obligation to update any of its forward-looking
statements, except as may be required by law.
Contacts:
Amarium Technologies Inc.
Investor Relations, +1-800-983-0814
Fax: +1-800-320-4180
info@amariumminerals.com
SOURCE Amarium Technologies Inc