Montan Mining Corp. (TSXV:MNY; FSE:S5GM)(“Montan Mining” or the “Company”) announces that the Company will change its name to Fidelity Minerals Corp. (“Fidelity Minerals”) subject to the acceptance by the TSX Venture Exchange.
Montan Mining Corp. (TSXV:MNY; FSE:S5GM)(“Montan Mining” or the “Company”) announces that the Company will change its name to Fidelity Minerals Corp. (“Fidelity Minerals”) subject to the acceptance by the TSX Venture Exchange. The new name of the Company is inspired by the Company’s belief in the mining and minerals sector and jurisdiction of activity, the loyal support of our shareholder base, and our determination to prevail in growing a mineral production and value accretive project generation and earnings platform.
“Fidelity Minerals is underpinned by a world-class appraisal stage project – the Greater Las Huaquillas Project – that provides the Company with a transformative near-term growth platform, and our Cerro Dorado project which has been largely capitalized and is permitted for near-term gold production. These comprise amazing opportunities that have been assembled during a period of a focussed restructuring. As we relaunch the Company at the January 2019 Vancouver Resource Investment show (Booth # 839) and as our growth plans unfold, we are optimistic the market will recognise the substantial intrinsic value embedded in Fidelity Minerals, hopefully resulting in our rerating more in line with the valuations of our larger peers” said Ian Graham, CEO of Fidelity Minerals.
Fidelity Minerals will be listed on the TSX Venture Exchange and will transition to the trading symbol: FMN once the name change is finalized. There will be no structural change to the number of shares issued and outstanding. Fidelity will, shortly following the rebranding, issue certain shares to close the acquisition of the core Las Huaquillas project (refer the earlier News Release of today, January 18th, 2019).
“Notwithstanding the potential of the Greater Las Huaquillas project, Fidelity Minerals is targeting the near-term restart of Cerro Dorado, our gold mill operation at Caravelli in Southern Peru. The planned restart will provide us with a non-dilutionary funding pathway, and will capitalise on the Peruvian team, led by Mr Jose Luis Garcia, who led the operational growth of one of the largest private gold mill operators in Peru for over a decade” said Luis Zapata, Peru-resident Executive Chairman of Fidelity Minerals.
About Fidelity Minerals Corp.
Fidelity Minerals Corp. is an emerging gold producer focusing on unlocking value from advanced stage mining assets in Peru. The company is backed by an experienced management team with diverse technical, market, and commercial expertise and is supported by committed and sophisticated investors focused on building long term value, now anchored by Lions Bay Capital Inc.
On behalf of the Board of Montan.
CEO and Director
For more information, please visit the corporate website at http://www.fidelityminerals.com or contact:
Luis F. Zapata
Tel: +51.999.968.827 (Peru)
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 NEWS RELEASE.
Disclaimer & Forward-Looking Statements: This news release contains forward-looking statements. Forward-looking statements are statements that relate to future events or future financial performance. In some cases, you can identify forward-looking statements by the use of terminology such as “may”, “should”, “intend”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “project”, “predict”, “potential”, or “continue” or the negative of these terms or other comparable terminology. These statements speak only as of the date of this news release. This news release may also contain inferences to future oriented financial information (“FOFI”) within the meaning of applicable securities laws. The information in this news release has been prepared by our management to provide information regarding our rebranding and provide the reader with an outlook for our future activities and anticipated key projects and may not be appropriate for other purposes. Forward-looking statements or inferences in this announcement include, (but are not limited to), i) that we will successfully start-up Fidelity Minerals’ Cerro Dorado plant, and that ii) we will be granted mineral concessions resulting from our proper and paid mineral concession applications, and that iii) we will be able to successfully appraise the Greater Las Huaquillas project. The Cerro Dorado S.A.C. assets have not been the subject of a feasibility study and as such there is no certainty that the mine or the mill will be able to produce a commercially marketable product. There is a significant risk that any production efforts from the project will not be profitable with these risks elevated by the absence of a defined resource and economic study. The Company’s reliance on historic production and third-party gold recovery statistics is necessary under the circumstances but is not compliant with NI 43-101 reporting standards. There are increased risks and uncertainty in making a production decision without such a study and an historically higher rate of failure for production decisions not based on a feasibility study. General risks include the reliance on available data and assumptions and judgments used in the interpretation of such data, the speculative and uncertain nature of exploration and development, exploration and development costs, capital requirements and the ability to obtain financing, volatility of global and local economic climates, share price volatility, estimate price and commodity price, volatility, changes in equity markets, increases in costs, exchange rate fluctuations and other risks involved in the mineral exploration and development industry. There can be no assurance that a forward-looking statement or information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many factors, though considered, are beyond our control. Accordingly, readers should not place undue reliance on forward-looking statements or information. We undertake no obligation to reissue or update any forward-looking statements or information except as required by law. This announcement is not, and under no circumstances is to be construed as, a solicitation or an offer of any kind. The matters set forth in this announcement does not constitute an agreement or offer that may be accepted. Accordingly, no person may bring a claim or action against another for a failure to negotiate, agree or enter into any agreement with respect to matters contained in the announcement. The technical information in this announcement relating to the Greater Las Huaquillas project has been derived from: NI 43-101 Technical Report (the “Technical Report”) on the Las Huaquillas Au, Ag, Cu Property, Cajamarca, Peru (15 August 2011) prepared by Luc Pigeon, P.Geo., of Gateway Solutions SAC, a Qualified Person under NI 43-101. Fidelity Minerals has not sought any form of consent from either the Qualified Person, or the Issuer which commissioned the Technical Report, but rather references this Technical Report in an historical context as the report was originally submitted for exchange approval on 15 August 2011. It should be noted that there has not been sufficient drilling and/or sufficient previous exploration at Las Huaquillas upon which to base a mineral resource or mineral reserve estimate compliant with the current standards of National Instrument 43-101, and Fidelity Minerals has not undertaken any independent verification of the data contained in that report by a Qualified Peron or Persons acting for Fidelity Minerals. There has been no additional or independent verification site visits, sampling or analytical work undertaken by Fidelity Minerals with respect to the Las Huaquillas property. Fidelity Minerals has relied entirely upon historic disclosure relating to the Las Huaquillas project in preparing this news release.