CALGARY, ALBERTA -- (Marketwired) -- 12/03/15 -- BACANORA MINERALS LTD. ("Bacanora" or the "Company") (TSX VENTURE: BCN)(AIM: BCN) announces the grant of an aggregate of 1,250,000 options to acquire common shares in the capital of Bacanora at a price of $1.58 to certain directors, officers, consultants and employees of the Company and its subsidiaries. Such options (and the common shares exercisable upon exercise) are exercisable immediately for a period of 5 years from the date of grant and will be subject to applicable securities law hold periods.
ABOUT BACANORA:
Bacanora is a Canadian and London listed minerals explorer (TSX VENTURE: BCN)(AIM: BCN). The Company explores and develops industrial mineral projects, with a primary focus on lithium and borates. The Company's operations are based in Hermosillo in northern Mexico and it currently has two significant projects under development in the state of Sonora. The two main assets of Bacanora are:
-- The Sonora Lithium Project, which consists of ten mining concession
areas covering approximately 100 thousand hectares in the northeast of
Sonora State. The Company, through drilling and exploration work to
date, has established an Indicated Mineral Resource (in accordance with
National Instrument 43-101 - Standards of Disclosure for Mineral
Projects ("NI 43-101")) of 5.0 Mt LCE contained in 364 Mt of clay at a
Li grade of 2,600 ppm and an Inferred Mineral Resource of 3.9 Mt LCE
contained in 355 Mt of clay at a Li grade of 2,000 ppm.
-- The Magdalena Borate Project, covering 16,503 hectares in Sonora state,
Mexico, where the Company's main borate zone, El Cajon, has an Indicated
Resource (in accordance with NI 43-101) of 1.17 Mt of B2O3, at an eight
percent cut-off grade. The Company has completed a number of measures to
determine the geological and commercial potential of the project and is
undertaking a prefeasibility exercise to determine the economic benefit
of developing the mine and constructing a processing plant on site in
order to become a supplier of boric acid.
Reader Advisory
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: commodity price volatility; general economic conditions in Canada, the United States, Mexico and globally; industry conditions, governmental regulation, including environmental regulation; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on 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.
Contacts:
Bacanora Minerals Ltd.
Peter Secker
Chief Executive Officer
info@bacanoraminerals.com
Bacanora Minerals Ltd.
Martin Vidal
President
(+52 662) 210-0767
