Toronto, Ontario--(Newsfile Corp. - August 24, 2020) - Kuya Silver Corp. ("Kuya" or the "Company") is pleased to report that on Friday, August 21, 2020, through our local joint venture entity, S&L Andes Export SAC, we received approval from the Regional Government of Huancavelica for the Estudio de Impacto Ambiental Semi Detallado ("EIA" or, in English, Semi Detailed Environment Impact Study ) for the Concesion de Beneficio Planta Bethania (or, in English, Bethania processing plant) project. The Bethania silver mine has been in operation as a stand-alone mine (i.e. with no processing capabilities) until being placed on care and maintenance in 2016. The approval covers the design for 350 tonne per day crushing, grinding and flotation circuits as well as a tailings storage facility and ancillary infrastructure.
Kuya entered into a share purchase agreement in 2017 to acquire an 80% interest in S&L Andes Export SAC, the Peruvian company that owns the Bethania Silver mine and under Kuya's direction has been undertaking permitting efforts for a first-ever on site processing plant as a priority since 2018.
Subject to the completion of the proposed business combination (the "Transaction") with Miramont Resources Corp. ("Miramont") announced June 11, 2020 which upon successful completion and stock exchange approval would result in Kuya taking over Miramont and the resulting company being listed on the Canadian Securities Exchange, Kuya expects to be in a position the close the acquisition of the 80% interest in S&L Andes Export SAC later this year.
David Stein, Founder and President of Kuya stated, "The approval of the EIA for the Bethania plant project is a major accomplishment by our Peruvian team and partners, and for the Company. In addition, I would like to acknowledge the support of the Poroche community, which has been important to achieving this milestone. Not only is the permit a critical step in restarting production from the Bethania mine, but our team and stakeholders can take pride in our design for a modern, environmentally conscientious operation, particularly in terms of water usage, surface disturbance and overall efficiency."
About Kuya Silver Corp.
Kuya is a privately held Canadian-based silver-focused mining company, earning into an 80% interest in the Bethania Silver Mine, located in Central Peru. Bethania was in production until 2016, toll-milling its ore at various other concentrate plants in the region, and Kuya's plan is to implement an expansion and construct a concentrate plant at site before restarting operations. Bethania produced silver-lead and zinc concentrates from the run of mine material until being placed on care and maintenance due to market conditions and lack of working capital. It is expected that shortly after the closing of the Transaction, Kuya will close its acquisition of the 80% interest in the Bethania Silver Mine.
For more information, please contact:
Kuya Silver Corp.
info@kuyasilver.com
www.kuyasilver.com
Forward-Looking Information
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. More particularly and without limitation, this news release contains forward-looking statements and information relating to the conditions to closing the Transaction and other matters. The forward-looking statements and information are based on certain key expectations and assumptions made by management of the Company. As a result, there can be no assurance that the proposed Transaction will be completed as proposed or at all. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. The forward-looking statements in this press release include the Company's intentions regarding the completion of the Transaction. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the Company's ability to continue operations if the Transaction is not completed, the Company's ability to raise further capital, the Company's ability to obtain regulatory and exchange approvals, and the Company's ability to complete the Transaction. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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