|December 14, 2017|
Rosita Mining Advances Permitting for the Santa Rita Copper-Gold Project in Nicaragua
|Toronto, Ontario -- December 14, 2017: Rosita Mining Corporation (RST: TSX-V) ("Rosita" or the "Company") is pleased to announce permitting progress for the construction and operation of the treatment plant for the Santa Rita Project in the Rosita D Concession in Nicaragua.|
According to the procedures established by the laws of Nicaragua this registration at the Department of Mines has now been completed. Further to these laws, at the beginning of December the application to initiate the Environmental Impact Study began, with a request to SERENA for the terms of reference for that study.
As part of the established procedures, SERENA and the General Direction of Mines conducted a field visit to the site, December 4th, 2017, in order to assess the conditions where the plant will be installed.
The terms of reference, following the conditions of the site have now been delivered to Rosita and the environmental study will begin next month in January, 2018.
John Cook the president and CEO of Rosita commented that, "Potential financiers have indicated their requirement for this permit to be awarded prior to them contemplating arrangement of a full financing package for the Santa Rita Project. We expect this permit award to be achieved in the next eight months."
Santa Rita Project Highlights
The Santa Rita project was the subject of a Preliminary Economic Assessment, ("PEA") which was completed in March, 2017 and the full results of which are availabe at www.sedar.com
PEA highlights are summarized below:
John Cook, MIMMM, a Qualified Person, as defined by NI 43- 101, has read and approved the contents of this press release.
About Rosita Mining Corporation
Rosita is a junior mining and exploration resource company focused on growing shareholder value through the development of the Santa Rita Stockpiles and tailings and advancing accretive exploration opportunities.
Rosita and Calibre hold 67% and 33% interest respectively in the Rosita copper-gold-silver supergene/skarn/porphyry project in Nicaragua located 275 kilometres northeast of Managua.
The Santa Rita Mine closed in 1978. This Project is a joint venture between Rosita Mining (67%) and Calibre Mining Corp., (CXB: TSX.V) (33%).
For further information, contact:
John Cook, President and CEO
Telephone: +1 416 200 8073
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.
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's ongoing Project development, all of the assumptions included in the PEA, including with respect to metal prices, royalty rates, taxation rates, operating costs and capital costs. Factors that could cause actual results to differ materially from such forward- looking information include, but are not limited to, the preliminary nature of a PEA, failure to obtain necessary environmental permits, metal prices, royalty rates, taxation rates, operating costs and capital costs being different that what the Company currently anticipates, unanticipated engineering difficulties and political risk, general business and economic uncertainties, future mineral prices and adverse market conditions, as well as those risks set out in the Company's Management Discussion and Analysis filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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