VANCOUVER,
BRITISH COLUMBIA--(Marketwire - April 22, 2010) - Camino Minerals Corporation
(TSX VENTURE:COR) ("Camino" or the "Company") is pleased to
announce that its common shares began trading on the Toronto Venture Exchange
("TSX-V") today under the symbol "COR".
"Today is a very important day for
Camino and its shareholders," said Gordon Davis, Camino's Chairman and CEO.
"Although Camino is a new company, it is led by the same team that successfully
shepherded Canplats Resources Corporation ("Canplats") in the C$300-million
acquisition by Goldcorp Inc. ("Goldcorp") of Canplats. We remain focused on
precious and base metal projects located in Mexico and we have a number of
projects that are expected to be advanced to the drilling stage this year. With
approximately C$10-million in the treasury, the Company is well funded and we
look forward to a very active year of exploration."
Camino's
exploration projects were originally obtained by Canplats through agreements
with La Cuesta International, Inc. ("La Cuesta") and subsequently transferred
to Camino in connection with Goldcorp's acquisition of Canplats. The principals
of La Cuesta, Perry Durning and Frank (Bud) Hillemeyer, were recent recipients
of the 2010 PDAC Thayer Lindsley International Mineral Discoveries Award,
recognizing their outstanding record of grassroots discoveries in Mexico. Since
1993, La Cuesta has been directly involved in the discovery of the San
Sebastian silver-gold mine (formerly in production for Hecla Mining Inc.), the
San Agustin gold deposit of Silver Standard Resources Inc. ("Silver
Standard")(indicated resources of 1.59 million ounces of gold and 47.9 million
ounces of silver, with additional inferred resources of 1.06 million ounces of
gold and 37 million ounces of silver(i)), the Pitarrilla silver
deposit of Silver Standard (measured and indicated resources of 643.6 million
ounces of silver with additional inferred resources of 82.3 million ounces of
silver(i)), and the Camino Rojo gold deposit of Goldcorp (measured and
indicated resources of 3,445,000 ounces of gold with inferred resources of
555,000 ounces of gold(ii)).
Three of
Camino's exploration projects - El Rincon, Rodeo and Mecatona - are located
within the Central Mexican Silver Belt, while the Maijoma property covers a
number of new precious and base metal showings with district-scale potential in
northeast Chihuahua State.
El Rincon Gold Project
The El Rincon gold project is located
120 kilometres northeast of the city of Durango, Mexico. It is comprised of one
mineral claim covering 12,946 hectares (50 square miles) and is accessed by
paved highway.
The El Rincon property is located
along the same northeast-trending structural corridor as the El Castillo gold
mine, located 10 kilometres to the west and currently in production for
Argonaut Gold Inc., and Silver Standard's San Agustin deposit, located 30
kilometres to the southwest. Initial work at El Rincon has identified ground
magnetic geophysical anomalies and major structural corridors which are
coincident with gold biogeochemical anomalies.
The El Rincon project holds the
potential for the discovery of bulk-tonnage gold mineralization. Initial
exploration activities will include detailed geophysical and geochemical
surveys.
Rodeo Gold Project
The Rodeo gold project is located 150
kilometres north of the city of Durango, Mexico and is comprised of two claims
covering 13,099 hectares (51 square miles). The property is accessed by paved
highway.
The Rodeo property hosts gold and
silver mineralization related to a high-level epithermal system that is
controlled by a major northwest-trending fault system. A reverse circulation
drilling program carried out by Canplats in 2004 confirmed the presence of
near-surface gold mineralization over significant intervals, including 5.94
grams of gold per tonne over 27 meters in drill hole BR-06.
To date, drilling has only sparingly
tested the near-surface Rodeo epithermal system, which has been traced at
surface for 4 kilometres and remains open for further expansion. Most of the
previous drilling was shallow, and has yet to evaluate the potential for
bonanza Au-Ag-Cu-Zn-Pb veins, replacement and manto-style mineralization at
depth. Initial exploration activities will include property-wide sampling and
detailed geophysics.
Mecatona Gold Project
The Mecatona gold project is located
20 kilometres south of the city of Parral, a historic precious metals mining
district. The property is comprised of 7 mineral claims covering 5,300 hectares
(20.5 square miles) and is accessed by paved and gravel roads.
In the Mecatona district, basal Lower
Cretaceous sediments are overlain by Tertiary volcanic and associated minor
granitic intrusive rocks. The property geology is dominated by Tertiary
flow-banded rhyolites (rhyodacites) with minor rhyolitic flow breccias.
Preliminary mapping and rock sampling
on the Mecatona property have outlined a broad north-northwest trending vein
swarm and alteration corridor which has yielded strong silver and base metal
lithogeochemical anomalies.
Mecatona holds the potential for the
discovery of bulk-tonnage gold/silver mineralization. Initial exploration
activities will include geophysical surveys, surface sampling, mapping and
trenching.
Maijoma Claim Group
The Maijoma claim group is located 65
kilometres southeast of Ojinaga in northeast Chihuahua State. The property is
comprised of three contiguous claim groups (Maijoma, Agua Loca/Los Volcanes,
and El Alamo) that cover 83,985 hectares (324 sq. miles). The project is
accessed by gravel roads.
The Maijoma property covers the
recently-recognized "Maijoma Structural Break" for more than 60
kilometres. Initial work has identified several large-scale areas of alteration
and mineralization, thought to represent the high-level portions of major hydrothermal
systems cutting a thick, favourable sequence of Cretaceous limestones. Initial
geochemical sampling has returned elevated base and precious metals values,
while preliminary IP surveying has outlined several chargeability anomalies.
Maijoma holds the potential for the
discovery of carbonate replacement mineralization and/or high-grade veins and
skarns. Initial exploration activities will include surface sampling, mapping
and geophysical surveys.
About Camino Minerals Corporation
Camino is a new mineral exploration
company that was formed in connection with Goldcorp Inc.'s acquisition of
Canplats Resources Corp. ("Canplats"). Camino is led by Canplats' former
management, has approximately C$10-million in the treasury and is focused on
precious and base metal projects located in Mexico.
The technical information contained in this news
release has been reviewed and approved by Richard Dufresne, P.Geo., Camino's
V.P., Exploration, a "Qualified Person" as defined under National Instrument
43-101
(i) Silver Standard's website:
www.silver-standard.com
(ii) Goldcorp's website: www.goldcorp.com
To
receive Camino's news releases, contact Blaine Monaghan, V.P., Corporate
Development, at info@caminominerals.com or
(866) 338-0047.
Cautionary
Note Regarding Forward-Looking Statements
Statements
contained in this news release that are not historical fact are forward-looking
statements as that term is defined in the Private Securities Litigation Reform
Act of 1995 and forward-looking information under the
provisions of Canadian securities laws (collectively, "forward-looking
statements"). Such forward-looking statements are
subject to risks and uncertainties which could cause actual results to differ
materially from estimated results. Such risks and uncertainties include, but
are not limited to, the company's ability to raise sufficient capital to fund
exploration, changes in economic conditions or financial markets, changes in
prices for the company's mineral products or increases in input costs,
litigation, legislative, environmental and other judicial, regulatory,
political and competitive developments in Mexico, technological and operational
difficulties or inability to obtain permits encountered in connection with
exploration and development activities, labour relations matters, and changing
foreign exchange rates, all of which are described more fully in Camino's
filings on SEDAR. The company
undertakes no obligation to publicly update or otherwise revise any
forward-looking statements, whether as a result of new information, future
events or other factors, except as required by law. Readers are cautioned not
to place undue reliance on forward-looking statements.
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 release.