MONTREAL, Oct. 17, 2019
MONTREAL, Oct. 17, 2019 /CNW/ - Cerro de Pasco Resources Inc. (CSE: CDPR) (OTCMKTS: GPPRF) (Frankfurt: N8HP) ("CDPR", or the "Corporation") announces that following the September 15th Quiulacocha Rural Community's decisive vote in favor of CDPR and numerous subsequent meetings, it finally signed a Definitive Agreement with the Quiulacocha Rural Community before the notary of Pasco, Julio Blas Alipázaga, dated yesterday, October 16th, 2019.
The Agreement provides CDPR with rights of use over 77.54 ha. held by the Quiulacocha Rural Community for developing the "Quiulacocha" project, and the "social license" to develop exploration and reuse activities within the "Quiulacocha" tailings, located within and beyond the "El Metalurgista" concession. In addition, the Community will help CDPR to attain all the necessary authorizations from the mining authority for developing the "Quiulacocha" project.
Furthermore, the Agreement sets out guidelines under which the Community and CDPR will join forces to take forward the environmental remediation measures which will apply once the "Quiulacocha" project starts.
Benefits include an increase of local employment, special royalties for the Community and a new source of revenue for the Central, Regional and Local governments, which can be reinvested in works that benefit the entire population.
Executive Director of CDPR, Manuel Rodríguez-Mariátegui, affirmed that "next steps with the Ministry are expected to accelerate with the formalization of this landmark agreement".
Cerro de Pasco Resources Inc.
Cerro de Pasco Resources Inc. is a resource management company attuned to the most demanding environmental, social and legal compliance required by global institutions and investors. The key strategic strength of the Corporation is an unparalleled knowledge of the challenges and opportunities presented by the minerals endowment within the city of Cerro de Pasco combined with a highly experienced and practical team of both Peruvian and international management. The key focus of the Corporation will be on developing the El Metalurgista mining concession using advanced geo-resource and industrial development solutions in order to secure long-term economic operational sustainability in harmony with a healthy and prosperous local population.
Forward-Looking Statements and Disclaimer
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be", "expected" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the Corporation's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Corporation to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Corporation will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
SOURCE Cerro de Pasco Resources Inc.
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