Amana Copper Ltd.
CNSX : AMA

April 02, 2014 15:31 ET

Amana Copper Ltd. Provides Update on DRC Projects

MONTREAL, QUEBEC--(Marketwired - April 2, 2014) - Amana Copper Ltd. ("Amana" or the "Company") (CSE:AMA) would like to provide shareholders with an update on the Company's activities in the Democratic Republic of the Congo (DRC).

Amana's strategic focus on near-term copper production opportunities began in 2013 and has continued to progress during the first quarter of 2014. During this time the Company has evaluated and rejected a number of projects that did not meet Amana's stringent criteria for project acquisitions. However, the Company has recently identified a project that management believes to hold significant potential for near-term production as well as geological prospectivity ("Project Alpha"). When compared to similar projects evaluated by Amana since 2013, Project Alpha holds the greatest potential for the confirmation of an economic ore body.

Amana is currently negotiating directly with the Project Alpha owners and has initiated field work. The Company will continue to execute its rigorous due diligence process with the goal of entering into an acquisition agreement for Project Alpha, however there can be no assurance that a transaction will be completed. Amana expects to provide shareholders with a status update on Project Alpha in the coming weeks.

About Amana Copper Ltd.

Amana's mandate is to acquire and develop copper projects with near-term visibility to production and cash flows. The Company leverages its technical and financial expertise to systematically de-risk and develop its projects.

ON BEHALF OF THE BOARD

Yaron Conforti, Chief Executive Officer and Director

The CSE does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Amana Copper Ltd. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Contact Information

  • Amana Copper Ltd.
    Yaron Conforti
    CEO
    (416) 716-8181