Himalayan Capital Corp.
TSX VENTURE : HIM

Himalayan Capital Corp.

March 13, 2012 08:00 ET

Himalayan Capital Corp. Shows Stockwork and Veinlet Hosted Copper Sulphide Mineralization in Rehabilitation of Underground Workings at La Higuera

TORONTO, ONTARIO--(Marketwire - March 13, 2012) - Himalayan Capital Corp. ("Himalayan" or the "Company") (TSX VENTURE:HIM) is pleased to announce that work has commenced cleaning out the old underground copper workings at La Higuera in preparation for geological mapping and geochemical sampling. Access to the Juan Muñoz Tunnel is being opened up and this will be the first to be rehabilitated. Initial reconnaissance along the tunnel has revealed stockwork and veinlet hosted chalcopyrite mineralization within massive magnetite zones, (see Figures 1 and 2, below). This clearly demonstrates that copper sulphide mineralization at La Higuera is not restricted to the previously mined high grade structures, but is developed extending beyond them. Mapping and sampling of these mineralized zones underground will provide valuable geological information regarding the controls of mineralization and will assist in planning future drill campaigns.

As discussed in the Company's National Instrument 43-101 technical report with respect to the La Higuera Property (which is available on SEDAR under the Company's profile at www.sedar.com), the Company's mineral properties cover the La Higuera copper mining district with mining activity dating back to at least the late 18th century. The Copiapo Mining Company, which was based in London, England, commenced mining at La Higuera in 1832. Over 40 copper sulphide bearing veins were reported to have been variously exploited in the district, with individual workings reaching a maximum depth of 450 metres and a maximum length of about 1,350 metres. However, most of the veins were mined to depths of less than 120 metres.

The Geological Survey of Chile mapped the workings in 1949 and ENAMI (the Chilean state-owned mining company) mapped the principal La Higuera workings in 1970. Himalayan has some of these maps, but by no means a complete set and their accuracy is uncertain. A map of the Juan Muñoz Tunnel is available and this tunnel was developed later in the mining history to connect up the major old underground mines. This tunnel extends for at least 1.5 kilometres and is the focus of Himalayan's rehabilitation work. The planned rehabilitation activity, geological mapping and geochemical sampling are major tasks, considering the extent of the old underground workings.

Michael Easdon, M.Sc., CPG, an independent consultant to the Company, is a "qualified person" as defined by National Instrument 43-101, and has reviewed and approved the technical information and data included in this press release.

To view Figure 1 and Figure 2 (Stockwork and Veinlet Copper Sulphide Mineralization in Old Mine Workings at La Higuera), please visit the following link: http://media3.marketwire.com/docs/him313fig12.pdf.

About Himalayan Capital Corp.

Himalayan Capital Corp. is a mineral exploration company with the rights, through its wholly owned subsidiary Minera Azul Ventures Limitada, to acquire a 100% interest in a prospective copper-gold property in La Higuera, Chile (the "La Higuera Property"). The La Higuera Property, which is located approximately 600 kilometres north of Santiago, was assembled as a result of the first-time consolidation of mining rights in a historical copper-gold mining center and is located in a prolific I.O.C.G. belt surrounded by excellent infrastructure in a mining friendly jurisdiction.

The La Higuera Property covers a historic copper mining district with mining activity dating back to at least the late 18th century; however, there has been no known modern exploration conducted on the property. Since the consolidation of the mining rights in June 2011, Minera Azul has initiated a rock sampling program, completed geophysical work which has generated intense magnetic and chargeability anomalies coincident with existing copper workings and has commenced a 4,000 metre drill program.

Cautionary Statements

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; market conditions; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified in the "Risk Factors" section of the Company's Filing Statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and Himalayan undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

Neither the 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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