Evrim Resources Corp.
TSX VENTURE : EVM

Evrim Resources Corp.

July 20, 2011 08:00 ET

Evrim Resources Corp.: Vale Commences Exploration at Arroyo Amarillo

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 20, 2011) - Evrim Resources Corp. (TSX VENTURE:EVM) ("Evrim" or the "Company") is pleased to announce that exploration activity is underway on the Arroyo Amarillo copper project in Sonora, Mexico. The exploration work is being funded and supervised by Vale Exploration Canada, Inc., a wholly-owned subsidiary of Vale S.A. ("Vale"). Vale may acquire up to a 60% interest in Evrim's Arroyo Amarillo project by incurring US$4,000,000 in exploration expenditures and making cash payments of $400,000, and may elect to earn a further 10% interest in Arroyo Amarillo by solely funding and delivering an NI43-101 compliant feasibility study.

Initial work at Arroyo Amarillo will include property scale geological mapping and geochemical sampling, in an effort to delineate the distribution of mineralization and alteration assemblages. Once completed, Vale will conduct an estimated 1000 line kilometres of airborne ZTEM and IP geophysical surveys to identify larger structural and alteration patterns that may control mineralization.

The Arroyo Amarillo project covers approximately 200 square kilometres of underexplored ground located 180 kilometres southeast of Hermosillo. The project hosts polymetallic veins with significant silver values in widespread propylitic and phyllic alteration zones within Late Cretaceous age andesite. This mineralization is interpreted to be the preserved top of a porphyry copper-molybdenum system that has never been tested below the polymetallic vein occurrences. Adjacent to the polymetallic veins are magnetic targets located in a graben filled with post mineral rocks that have not been tested either. Surface grab sampling at Arroyo Amarillo has returned values of up to 2.72 g/t gold, 1405.0 g/t silver, 1.19% copper, 16.15% lead, and 2.43% zinc.

About Evrim Resources

Evrim is a mineral exploration company with a diverse portfolio of quality gold and copper projects, and a geological database covering Mexico and portions of southwestern United States. Evrim's business plan is to generate exploration targets that it will advance through option and joint venture agreements with industry partners to create shareholder value. The projects generated to date form a solid foundation for Evrim's execution of the joint venture business model, which will be further enhanced by a pipeline of new projects developed internally.

Qualified Person Statement

The content of this release has been reviewed by David Hladky, P.Geo., General Manager, Exploration for the Company. Mr. Hladky is a Qualified Person as defined under the terms of National Instrument 43-101.

For further information on Evrim please visit www.evrimresources.com.

On Behalf of the Board EVRIM RESOURCES CORP.

Paddy Nicol, President & CEO

Forward Looking Information

This news release includes certain statements that may be deemed "forward looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that Evrim Resources Corp. (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 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 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.

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.

Contact Information

  • Evrim Resources Corp.
    Paddy Nicol
    President
    604-248-8648

    Evrim Resources Corp.
    Rory Kutluoglu
    VP Business Development
    604-248-8648
    604-646-4622 (FAX)
    www.evrimresources.com