Amana Copper Ltd. Provides Update on DRC Projects
02 April 2014 - 9:31PM
Marketwired
Amana Copper Ltd. Provides Update on DRC Projects
MONTREAL, QUEBEC--(Marketwired - Apr 2, 2014) - Amana Copper
Ltd. ("Amana" or the "Company") (CSE:AMA) would like to provide
shareholders with an update on the Company's activities in the
Democratic Republic of the Congo (DRC).
Amana's strategic focus on near-term copper production
opportunities began in 2013 and has continued to progress during
the first quarter of 2014. During this time the Company has
evaluated and rejected a number of projects that did not meet
Amana's stringent criteria for project acquisitions. However, the
Company has recently identified a project that management believes
to hold significant potential for near-term production as well as
geological prospectivity ("Project Alpha"). When compared to
similar projects evaluated by Amana since 2013, Project Alpha holds
the greatest potential for the confirmation of an economic ore
body.
Amana is currently negotiating directly with the Project Alpha
owners and has initiated field work. The Company will continue to
execute its rigorous due diligence process with the goal of
entering into an acquisition agreement for Project Alpha, however
there can be no assurance that a transaction will be completed.
Amana expects to provide shareholders with a status update on
Project Alpha in the coming weeks.
About Amana Copper
Ltd.
Amana's mandate is to acquire and develop copper projects with
near-term visibility to production and cash flows. The Company
leverages its technical and financial expertise to systematically
de-risk and develop its projects.
ON BEHALF OF THE BOARD
Yaron Conforti, Chief Executive Officer and Director
The CSE does not
accept responsibility for the adequacy or accuracy of this
release.
Forward-Looking Information
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address events or
developments that Amana Copper Ltd. (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 regulatory actions, 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 applicable 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.
Amana Copper Ltd.Yaron ConfortiCEO(416) 716-8181
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