Colombian Mineral Resources plc

July 19, 2012 02:15 ET

Major Environmental Licence Granted to "La Estella" Coal Mining Project

                                                                                                19 July 2012
                                        Colombian Mineral Resources Plc
                                           ("CMR" or the "Company")
                    Major Environmental Licence Granted to "La Estella" Coal Mining Project
The  Board  of  Colombian Mineral Resources Plc is pleased to announce that an environmental licence  has  been
granted  in  respect of one of its key coal mining concessions located in Santander, Colombia, FLG -  111,  "La
Estrella".  This  environmental  licence gives the Company full rights to start  the  mining  construction  and
assembly phase of the project, and enables CMR now to proceed immediately towards the full exploitation of  the
La Estrella coal concession.

The  FLG-111 "La Estrella" concession, located in Betulia, Zapatoca, is estimated to potentially hold  over  22
million tonnes of coal resources.

The  Company  is  currently  considering various non-dilutive methods of financing  the  exploitation  of  this
concession and will notify Shareholders accordingly.

As  a  direct  result of the granting of this environmental licence, which the Company views as  a  significant
milestone,  the  14  other mining titles owned by CMR in the Santander region are now in  a  position  to  move
forward to secure their own requisite environmental and operational permits.

Ignacio  Ozcariz, Chairman of the Company commented: "We are thrilled that the environmental licence  has  been
granted  to  La  Estrella. The Company is now stepping up on its evaluation of suitable funding solutions  that
will maximize the potential value within this property, for Shareholders of the Company."

The Directors of the Company accept responsibility for the announcement.


Colombian Mineral Resources Plc                             Tel: +34 91 590 2619
Ignacio María Ozcariz Arraiza - Chairman

LHM Casey McGrath                                           Tel: +353 1 495 9200
Con Casey
Peterhouse Corporate Finance Limited                        Tel:  +44 20 7469 0934
Fungai Ndoro

Financial PR                                                Tel: +44 20 7367 5118
Cubitt Consulting Ltd
Nicholas Nelson/Cebuan Bliss

Contact Information

  • Colombian Mineral Resources plc