Eurotin Inc.

TSX VENTURE : TIN


Eurotin Inc.

October 15, 2013 07:30 ET

Eurotin-Appointment of New CEO and Update on the Oropesa Tin Project

TORONTO, ONTARIO--(Marketwired - Oct. 15, 2013) - Eurotin Inc. ("Eurotin" or the "Company") (TSX VENTURE:TIN), is pleased to announce the appointment of Trevor Richardson as the new President and CEO and a director of the Company and to provide an update on activities at its Oropesa tin project in SW Spain.

Appointment of New President and CEO

Trevor Richardson, a Qualified Person and a co-founder and director of Caracle Creek International Consulting (CCIC), has extensive exploration and mining experience in Madagascar, Zambia, the DRC, South Africa and Canada. In addition, Trevor has managed several multi-million dollar projects from conception, through exploration and into production. He was previously the President/CEO of Mukuba Resources and COO of Aurigin Resources.

Trevor Richardson comments: "I have been aware of Eurotin's Spanish projects from their inception and have been impressed by the results achieved to date. I intend to progress these projects by building on the work already achieved. My industry experience should benefit the company and its team and my top priority is to maximise shareholder value."

Peter Miller (former President and CEO) comments: "Oropesa has been a challenging project in that the geological setting for its tin mineralization is probably unique. Now that our understanding of Oropesa has progressed sufficiently, it is time to hand over the process of taking this project forward to both experienced and younger hands. I am therefore resigning as President and CEO and placing the company's future in Mr. Richardson's capable hands. I shall remain with the Company as a director and in an operations capacity. I would like to take this opportunity of thanking our shareholders for their support, both financial and otherwise, during the recent challenging phase of our company's history."

Update on the Oropesa Tin Project

A modest 4,000 metre drilling program is nearing completion and the first assay results should be available shortly. The drill results will be used in the estimation of a new resource, which is expected to be released in the near future.

Detailed initial metallurgical test work is now underway on two mini-bulk, drill core, samples, each weighing approximately 250kg, at the laboratories of SGS Minerals Services UK Ltd in Cornwall, SW England.

Assay and QA/QC Methodology for Oropesa Drill Core

All core produced is taken daily from each drill site to the Company's secure facility in Fuente Obejuna, where it is logged by the Company's geologists. This process takes place under the supervision of Qualified Person Victor Guerrero Merino, Euro.Geol.

The core, usually of around one metre length, which is chosen by the Company's geologists for assaying, is then cut in half either at the Company's own facilities at Fuente Obejuna or at ALS Chemex's sample preparation facility in Seville in southern Spain.

At the ALS Chemex facility, the cut core is logged into the in house LIMS tracking system, after which each sample is prepared using procedure code 'Prep 31'. This procedure involves the drying, weighing and fine crushing to 70% passing -2mm. A 250g split of the crushed material is then pulverised to greater than 85% passing 75 microns. Samples are then shipped by bonded courier to Vancouver for analysis.

In Vancouver, ALS Chemex procedure ME-XRF10 is used for tin analysis and ME-ICP61 for multi-element (33) analysis. The ME-XRF10 procedure uses 0.9g of calcined sample pulp, which is mixed with 4.5g of lithium tetraborate and 4.5g of lithium metaborate. This mixture is then fused at 1,100°C to produce a flat molten disc, which is subsequently analysed by XRF spectrometry. ALS Chemex analyses its own standard samples and blanks, plus duplicates, within each set of samples provided by the Company. The Company has recently introduced its own blanks and standards as a further means of checking the accuracy of the assay results. One in every 15 samples analysed by ALS Chemex is then sent to SGS's laboratories in Cornwall, UK, for check assaying for tin. The Company keeps all its sample pulps and rejects in locked steel containers at its secure storage facility in Fuente Obejuna.

The Company recently completed a new check assay program using five certified laboratories. The pulp sample composites used had varying tin grades; the accuracy of the results obtained was within acceptable parameters.

Mr. Victor Guerrero Merino, an independent geological consultant and a Qualified Person pursuant to NI 43-101, has reviewed and approved the technical information in this news release on behalf of the Company.

Forward-Looking Statements

Results presented in this press release are exploratory in nature. Historical data, if mentioned, should not be relied upon, as they are not admissible under NI 43-101 rules and the Company has not conducted sufficient testing to verify this type of information. In addition, this press release includes certain forward-looking statements within the meaning of Canadian securities laws that are based on expectations, estimates and projections as of the date of this press release. There can be no assurance that such statements will prove accurate, and actual results and developments are likely to differ, in some case materially, from those expressed or implied by the forward-looking statements contained in this press release. Readers of this press release are cautioned not to place undue reliance on any such forward-looking statements.

Forward-looking statements contained in this press release are based on a number of assumptions that may prove to be incorrect, including, but not limited to: timely implementation of anticipated drilling and exploration programs; the successful completion of new development projects, planned expansions or other projects within the timelines anticipated and at anticipated production levels; the accuracy of reserve and resource estimates, grades, mine life and cash cost estimates; whether mineral resources can be developed; title to mineral properties; financing requirements, general market conditions, and the uncertainty of access to additional capital; changes in the world-wide price of mineral commodities; general economic conditions; and changes in laws, rules and regulations applicable to the Company. In addition to being subject to a number of assumptions, forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to be materially different from those expressed or implied by such forward-looking statements. The Company has no intention or obligation to update the forward-looking statements contained in this press release.

Neither 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.

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