SOURCE: Columbia Metals Corporation Ltd.

October 04, 2007 10:12 ET

Columbia Announces Transfer of Environmental & Mining Permits

TORONTO--(Marketwire - October 4, 2007) - Columbia Metals Corporation Ltd. (the "Company") (TSX-V: COL) is pleased to announce that its Mexican subsidiary, Minera Columbia de México, S.A. de C.V. ("Minera Columbia"), has successfully negotiated the transfer of all of the rights and obligations of the Environmental and Mining Permits (the "Permits") for operation of the past-producing Lluvia de Oro mine. The Permits have been transferred from the previous operators of the mine, Compañía Minera Lluvia de Oro, S.A. de C.V. ("Compañía Minera Lluvia"), to Minera Columbia.

After the mine closed in 1999, title to the property and its associated Permits passed from Compañía Minera Lluvia to various Mexican entities; it was necessary to carry out detailed legal investigative work to authenticate the chain of ownership in order for the Ministry of the Environment and Natural Resources (SEMARNAT) to approve the transfer of title and Permits to Minera Columbia. It is significant that one of the Mexican entities referred to had succeeded in negotiating an extension to the expiry of the Permits until 2011, thus relieving Minera Columbia of the immediate necessity to make a new application.

In the opinion of the Company's environmental consultants, the approval of the transfer of these rights and obligations constitutes a significant advance in permitting the past-producing Lluvia de Oro gold mine.

This release has been prepared by Vernon. E. Smith, P. Eng General Manager Magdalena Operations for Minera Columbia in Sonora State, Mexico. For further information please contact Columbia Metals Corporation Limited at (416) 364-6799.

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

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Contact Information

  • Columbia Metals Corporation Limited
    402 - 121 Richmond Street West
    Toronto ON, M5H 2K1, Canada
    Phone: (416) 364-6799
    Fax: (416) 364-2595