Compagnie Miniere Esperance

Compagnie Miniere Esperance

March 01, 2018 09:44 ET

CME Announces Agreement with Newmont on its Esperance Project and Seeks a Partner for its Saint-Elie Property in French Guiana

CAYENNE, FRENCH GUIANA--(Marketwired - March 1, 2018) - La Compagnie Minière Espérance (CME or the Company) is pleased to announce an agreement with Newmont Mining Corporation (Newmont) for further exploration and development of CME's Espérance gold project in French Guiana. Following on from this agreement with Newmont, CME is now actively seeking partners for its Saint-Élie gold property.

At the beginning of 2016, CME published the positive results of its Preliminary Economic Assessment (PEA) prepared by GoldMinds Geoservices Inc. (GMG) on its Espérance gold project in French Guiana, which led to negotiations and discussions with interested parties.

In 2017, the Company reached an agreement with Newmont to carry out exploration and development work at the Espérance gold project. Newmont's press release can be accessed via the link below:

http://www.newmont.com/newsroom/newsroom-details/2017/Newmont-Enhances-Long-term-Growth-Position-in-Guiana-Shield/default.aspx

The Company is now turning its attention to the development of its Saint-Élie gold property owned by Société des Mines de Saint-Élie (SMSE), a wholly-owned subsidiary of CME. The first resources on this site were highlighted by Golden Star in 1997, which historically produced 20 tonnes of gold. Since 2005, SMSE has produced 8,000 ounces a year and the property continues to show growth potential. Recently, a trench campaign identified a mineralized corridor over 5 km long with interesting grades. The following is a link to SMSE's website and historical resource information. An NI 43-101 Technical Report prepared in 2016 by GMG is also available.

http://esperancegoldmine.com/index.php/en/saint-elie-mine/

Saint-Élie's diamond drill results published on March 2, 2016 can be reviewed at the following link:
http://www.marketwired.com/press-release/smse-wholly-owned-subsidiary-cme-announces-positive-results-from-its-2015-drilling-campaign-2102305.htm

The technical content of this press release was prepared and revised by Claude Duplessis, geological engineer at GoldMinds Geoservices Inc., an Independent Qualified Person as defined in NI 43-101 standards.

About CME and SMSE

CME is a private Guyanese company owner of two mining sites:

  • ESPERANCE in the town of Apatou; and
  • SAINT-ÉLIE in the town of Saint-Élie; the mining title is held by SMSE (Societe des Mines de Saint-Élie), a wholly-owned subsidiary of CME. The concession was acquired by SMSE from Golden Star.

For more information on SMSE visit: www.esperancegoldmine.com, SMSE tab.

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