Atacama Minerals Corp.

Atacama Minerals Corp.

October 11, 2007 12:43 ET

Atacama Receives Approval for New Powerline to Aguas Blancas Mine in Northern Chile

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 11, 2007) - Atacama Minerals Corp. ("Atacama" or the "Company") (TSX VENTURE:AAM) is pleased to announce that it has received approval from the Regional Environmental Authority of Antofagasta, northern Chile (COREMA), for the construction of a new powerline connecting the Aguas Blancas Mine with the local power grid. The new powerline will extend for 28 kilometers and will cost approximately US$8.2 million including two new substations and a 69 kilovolt transmission line. Construction of the powerline is expected to be completed and operational by the end of the first quarter of 2008.

The new powerline will replace the current system of diesel powered generators at the mine site and provide for a long-term reliable source of energy for future operations.

The Company is currently in the construction phase of a new mechanical agitated leach plant designed to replace the current heap leaching system which will facilitate an increase in production from current levels of approximately 900 tonnes per year iodine to 1,500 tonnes per year iodine. The agitated leach plant is expected to be operational the first quarter of 2008 at an estimated cost of US$25.5 million.

Atacama Minerals Corp. is an industrial minerals company producing iodine from its 100% owned Aguas Blancas mine in the Atacama Desert of northern Chile.

On Behalf of the Board,

Edward F. Posey, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Atacama Minerals Corp.
    Sophia Shane
    Corporate Development
    (604) 689-7842
    (604) 689-4250 (FAX)