TORONTO, ONTARIO -- (Marketwired) -- 02/04/16 -- Arena Minerals Inc. ("Arena" or "the Company") (TSX VENTURE: AN), a prospect generator with an extensive portfolio of properties in Chile's copper producing Antofagasta, is pleased to announce that it has achieved a ranking in the TSX Venture 50 for 2016, to be announced on February 25, 2016. Arena has been ranked 5th in the Mining sector Top 10 list.
William Randall, President and CEO of Arena commented, "This achievement is the result of a lot of hard work by our team and the continued support of our shareholders. In 2015 we succeeded in signing three joint venture agreements for a total spend of up to USD56 million, and the commencement of Phase 1 exploration programs in the fourth quarter of 2015. The combined budget through to July 2016 is USD6.4 million, which we expect to be focused on drilling in areas prospective for world class copper porphyry deposits."
The TSX Venture 50® is an annual ranking of the top 10 companies listed on the TSX Venture Exchange in each of five major industry sectors - mining, oil & gas, technology & life sciences, diversified industries, and clean technology - based on a ranking formula with equal weighting given to market capitalization growth, share price appreciation and trading volume.
About Arena Minerals
Arena Minerals is a prospect generator that has two properties under option covering approximately 95,400 hectares within the Antofagasta region of Chile. The properties are at low altitudes, within producing mining camps in infrastructure rich areas. The Company's flagship asset is the Atacama Copper Property, consisting of 92,000 hectares, following a contractual land reduction on July 27, 2015, of essentially undrilled ground in the heart of Chile's premier copper mining district. Currently, approximately 85% of the Atacama Copper Property is under option to third parties. Pursuant to option agreements entered into between Arena and the parties B2Gold Corp, Japan Oil, Gas and Minerals National Corporation and Teck Resources Chile Limitada, each have the right to earn into 60% of the respective land holdings within the property, by collectively spending up to USD56 million in exploration expenditures, amongst certain other commitments. In addition the Company has the Pampas El Penon project, comprising a total of 3,400 hectares which is less than 1 km from Yamana's Agusta Victoria project which forms part of the El Penon mine complex. The Pampas El Penon and Atacama Copper properties comprise Arena Minerals highly prospective copper and gold properties within an active mining region.
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On behalf of the Board of Directors of
Arena Minerals Inc.
William Randall, President, and CEO
Cautionary Note Regarding Accuracy and Forward-Looking Information:
This news release contains forward-looking information within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements, projections and estimates relating to the future development of any of the Company's properties, including those properties under option, the prospectivity of, and planned work programs on, such properties, the ability to enter into any additional joint venture partnership agreements as proposed, or at all, the ability of any potential partner to accelerate drill programs, increase the development of any of the projects or prospects of the Company, the results of the exploration program, future financial or operating performance of the Company, its subsidiaries and its projects, the development of and the anticipated timing with respect to the Atacama project and the El Penon project. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". The statements made herein are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of the Company's interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; other risks of the mining industry and the risks described in the annual information form of the Company. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward looking information. Arena Minerals does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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.
Contacts:
Arena Minerals Inc.
William Randall
President and CEO
(416) 309-2697
www.arenaminerals.com
