Camino Minerals and Nittetsu Collaborate on Puquios Copper Project

Camino Minerals Corporation announced a definitive agreement with Nittetsu Mining to jointly acquire the Puquios Copper Project in Chile. The deal involves acquiring all shares of Cuprum Resources Chile SpA, owner of the project. This venture will be via a Chilean entity owned equally by Camino and Nittetsu. Camino plans to raise up to CAD $2 million through private placement for working capital, with the vendors committing $500,000 to this financing.

This agreement positions Camino to strengthen its exploration strategy and become a significant player in the copper sector. The Puquios Project is notable for its readiness for construction and holds potential for conventional SXEW copper heap leach production. The company anticipates operational synergies with its Los Chapitos copper project in Peru, where more exploration is planned.

Cuprum, the holding company for the Puquios Project, boasts total assets of US$47.95 million and is progressing towards financing and potential exploration advances. Their financials reveal no external debt, providing a stable foundation for future operations.