Columbus Exploration Further Amends Option on Its Mogollon Project
18 Juni 2014 - 3:00PM
Marketwired
Columbus Exploration Further Amends Option on Its Mogollon Project
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 18, 2014) -
Columbus Exploration Corporation (TSX-VENTURE:CLX) (formerly
Columbus Silver Corporation) announces that it has amended its
amended and restated option agreement with Santa Fe Gold
Corporation dated March 6, 2014 pursuant to which Santa Fe can earn
a 100% interest in Columbus Silver's Mogollon Project by
immediately making a non-refundable US$12,350 payment to Columbus
Exploration, followed by an optional US$950,000 payment prior to
November 21, 2014. Either upon exercise of the option or prior to
November 21, 2014, as applicable, Santa Fe must make mandatory
non-refundable payments totaling approximately US$59,000. All other
material terms remain unchanged. For additional details please see
Columbus Exploration's news releases of September 19, 2012, October
22, 2012, July 3, 2013 and March 7, 2014.
ON BEHALF OF THE BOARD,
James Isaac, VP Legal and Corporate Secretary
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 release contains forward-looking information and
statements, as defined by law including without limitation Canadian
securities laws and the "safe harbor" provisions of the US Private
Securities Litigation Reform Act of 1995 ("forward-looking
statements"). In particular, and without limitation this news
release contains forward-looking statements pertaining to the
amended and restated option agreement, as amended (the "Amended
Agreement"), including without limitation Santa Fe's payments and
other obligations required thereunder to maintain the Amended
Agreement in good standing, and future obligations discussed
therein. Forward-looking statements involve risks, uncertainties
and other factors that may cause actual results to be materially
different from those expressed or implied by the forward-looking
statements, including without limitation, whether Santa Fe has the
desire and ability to make payments to Columbus Exploration and in
connection with maintaining the Amended Agreement in good standing;
whether Santa Fe will maintain the option in good standing and will
not terminate the Amended Agreement in connection with dropping the
option; cost increases; unforeseen circumstances; risks associated
with the exploration projects or title thereto held by Columbus
Exploration; mineral reserve and resource estimates (including the
risk of assumption and methodology errors); dependence on third
parties for services; non-performance by contractual
counterparties; title risks; and general business and economic
conditions. Forward-looking statements are based on a number of
assumptions that may prove to be incorrect, including without
limitation assumptions about: that Santa Fe will have sufficient
funds and desire to continue earning into the Mogollon Project and
maintaining it in good standing, and will do so; that required
service providers will be available; general business and economic
conditions; availability of financing; and ongoing relations with
employees, partners and joint venturers. Although the foregoing
forward-looking statements are considered reasonable at the time of
preparation, the aforementioned assumptions and factors may prove
to be imprecise and, as such, undue reliance should not be placed
on forward-looking statements. The aforementioned factors and
assumptions are not exhaustive. Columbus Exploration's actual
results, performance, or achievement could differ materially from
those expressed in, or implied by, these forward-looking
statements. We can give no assurance that any of the events
anticipated will transpire or occur, or if any of them do, what
benefits we will derive from them. The forward-looking information
contained in this document is expressly qualified by this
cautionary statement. The foregoing list is not exhaustive and
Columbus Exploration undertakes no obligation to update any of the
foregoing except as required by law.
Columbus Exploration CorporationInvestor Relations604-634-0970
or Toll Free: 1-888-818-1364604
634-0971info@columbusgroup.comwww.columbusgroup.com
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