SOURCE: Ascendant Copper Corporation

September 21, 2006 12:39 ET

Eco-Terrorism Activity Disrupts but Will Not Halt Ascendant Copper Corporation's Socially Responsible Efforts in the Intag Region

VANCOUVER, BC -- (MARKET WIRE) -- September 21, 2006 -- Ascendant Copper Corporation ("Ascendant" or the "Company") (TSX: ACX) reports that in the afternoon of Tuesday, September 12, 2006, seven persons, comprised of technical employees and contractors of the Company, were taken hostage by approximately 20 to 30 activists of a small, radical community organization. The group was taken while working on Company lands on the eastern side of the Junin concession area.

"These seven individuals were conducting an initial assessment of our agricultural lands as well as evaluating various access alternatives as part of our proposed exploration program on Junin project," Company President Gary E. Davis confirmed. This work was in support of the Environmental Impact Statement for the project which has recently been submitted to the Ministry of Energy and Mines for approval.

The Company is pleased to report the safe return of all of its employees. Two managed to escape, three were released by the radicals the day following their capture, and the final two were released on Saturday, September 16, thanks to the overwhelming support and intervention of the Federal Government, state and local police, and the communities. By Saturday, over 60 police officers from the Province of Imbabura along with over 300 local community representatives pressured the 30 or so radicals to unilaterally release the final two hostages.

Thus far, two of the kidnappers have been arrested, arraigned, and in prison awaiting sentencing. The Company will continue to cooperate with local and Federal Government authorities and will aggressively pursue the arrest of the remaining persons at large who participated in this flagrant violation of both Ecuadorian and international law.

In a statement issued by a local organization, DECOIN, which has been in opposition to the Company's exploration activities in the area, it called the events a "ceremony." Such statements underscore the extremist nature of such groups and undermine the respectability and rights of the region's residents.

For the continued security of all parties involved, it has been recommended by the Company's crisis management team that few details regarding this incident be released at this time. Ascendant will make more comments regarding this matter as the case against the aggressors is further prosecuted.

Ascendant's principal business is the exploration for copper in Ecuador. The Company has two primary properties including its Junin Project located in northern Ecuador, a copper-molybdenum, gold and silver porphyry property with an inferred mineral resource of 982 million tonnes grading 0.89% copper, 0.04% molybdenum and 1.9 grams per ton of silver, at a 0.4% copper cut-off grade (1). The Chaucha property in southern Ecuador is a copper-molybdenum porphyry containing an inferred resource of 216 million tonnes with 2.2 billion pounds of copper at 0.46% and 0.03% molybdenum at a 0.20% copper cut-off grade (2). The Company recently purchased the Telimbela copper/molybdenum property in south/central Ecuador, which project is in the early stages of exploration.

Company contact: Gary E. Davis, President, at 303-824-0271.

Ascendant Copper Corporation
"Gerald E. (Gary) Davis"
President and CEO
(1) See "Technical Report Review of the Quartz Porphyry-Hosted Copper-Molybdenum Mineralisation at Junin, Otavalo, Ecuador" prepared by Qualified Person, Paul D. Gribble, C. Eng., Senior Mineral Resources Geologist, of Micon International Co Limited ("Micon").

(2) See "Technical Report dated April 8, 2005, and amended August 5, 2005, Review of the Quartz Porphyry-Hosted Copper-Molybdenum Mineralisation at Chaucha, Cuenca, Ecuador" prepared by Qualified Persons, Paul D. Gribble, C. Eng., Senior Mineral Resources Geologist, and David T. Wells, Senior Metallurgist, of Micon. The Chaucha property is presently classified only as a geologic mineral property.

(3) Because of the uncertainty that may attach to these preliminary estimates, it cannot be assumed that all or any part of this reported mineralization will be upgraded to a mineral resource category as a result of continued exploration.

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Company contact:
    Gary E. Davis

    10920 West Alameda Avenue, Suite 201
    Lakewood, CO 80226
    Tel: (303) 824-0271
    Fax: (303) 297-0538
    Email Contact