Vancouver, British Columbia - Centenera Mining Corporation ("Centenera" or the "Company") - (TSXV: CT, OTCQB: CTMIF
), reports that it has received $1.41 million in cash proceeds from the exercise of 9,400,000 of the Company's outstanding warrants, with each warrant entitling the holder to purchase one common share of the Company at a price of $0.15 per share. Following the exercise of the warrants, the Company has 66,344,407 common shares issued and outstanding.
"We are pleased to receive the continued support of our shareholders with 98.9% of 9.5 million warrants exercised," stated Keith Henderson, Centenera's President & CEO, "These funds will be used to advance exploration at the Huachi Copper-Gold Project while continuing to move the Company's El Quemado Lithium Project forward."
About Centenera Mining Corporation
Centenera is a mineral resource company trading on the TSX Venture Exchange (the "TSXV"), under the symbol "CT" and on the OTCQB exchange under the symbol "CTMIF". The Company is currently devoting 100% of its attention to its mineral resource assets in Argentina. The Company's strategy in 2017 will be to focus on the Huachi Copper-Gold Project
, finalizing drill targets and planning in Q2, and on drill-testing in Q3/Q4. Other assets, such as the El Quemado Lithium Pegmatite Project
in Salta Province, will see appropriate levels of exploration aimed at proving project potential and attracting a joint venture partner or a project sale. The Company will also seek a joint venture partner for the relatively advanced Organullo Gold Project, which has approximately 8,000 meters of historical drilling and assay results. The Organullo Gold Project
has a geological target range from 19.8 million tonnes grading at 0.94 g/t gold (600,000 ounces) to 31.6 million tonnes grading at 0.92 g/t gold (940,000 ounces) using a 0.5 g/t gold cut-off-grade.
It should be noted that these potential exploration target quantities and grades are conceptual in nature, that insufficient exploration and geological modelling has been done to define a mineral resource, and that it is uncertain if further exploration will result in the delineation of a mineral resource.
For more information on the Company's board of directors, management and assets, please refer to the Company's website at www.centeneramining.com
and the Company's Canadian regulatory filings on SEDAR at www.sedar.com
On Behalf of the Board of Directors of
CENTENERA MINING CORPORATION
President & CEO
For further information, please contact:
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 press release, which has been prepared by management.
Cautionary Note Regarding Forward-Looking Information
Except for the statements of historical fact contained herein, the information presented in this news release and the information incorporated by reference herein, constitutes "forward looking information" within the meaning of applicable Canadian securities laws concerning the business, operations and financial performance and condition of the Company. All statements, except for statements of historical fact, that address activities, events or developments that management of the Company expects or anticipates will or may occur in the future, including, without limitation, statements regarding the anticipated content, commencement, timing or costs of the work done on the El Quemado Lithium Pegmatite Project, the Huachi Copper-Gold Project or the Organullo Gold Project (and the Company's projects generally) and exploration program results from same, the discovery and delineation of mineral deposits/resources/reserves on the El Quemado Lithium Pegmatite Project, the Huachi Copper-Gold Project or the Organullo Gold Project, and the anticipated business plans and timing of future activities of the Company and references to the future success of the Company, and such other matters, are forward looking statements. Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, among others, operating and technical difficulties in connection with mineral exploration and development and mine development activities at the El Quemado Lithium Pegmatite Project, the Huachi Copper-Gold Project or the Organullo Gold Project, actual results of exploration activities, estimation or realization of mineral reserves and mineral resources, the timing and amount of estimated future production, costs of production, capital expenditures, the costs and timing of the development of new deposits, the availability of a sufficient supply of water and other materials, requirements for additional capital, future prices of precious metals, tantalum and lithium, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, possible variations in ore grade or recovery rates, possible failures of plants, equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental and regulatory approvals (including the TSXV), permits or financing or in the completion of development or construction activities, changes in laws, regulations and policies affecting mining operations, hedging practices, currency fluctuations, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation, environmental issues and liabilities, risks related to joint venture operations, and risks related to the integration of acquisitions, as well as those factors discussed in the annual management's discussion and analysis and other filings of the Company with the Canadian Securities Authorities.
Readers are cautioned not to place undue reliance on forward looking information. The Company undertakes no obligation to update any of the forward looking information in this news release or incorporated by reference herein, except as otherwise required by law.