Toronto, Ontario–(Newsfile Corp. – August 24, 2020) – Kuya Silver Corp. (“Kuya” or the “Company“) is pleased to report that on Friday, August 21, 2020, through our local joint venture entity, S&L Andes Export SAC, we received approval from the Regional Government of Huancavelica for the Estudio de Impacto Ambiental Semi Detallado (“EIA” or, in English, Semi Detailed Environment Impact Study ) for the Concesion de Beneficio Planta Bethania (or, in English, Bethania processing plant) project. The Bethania silver mine has been in operation as a stand-alone mine (i.e. with no processing capabilities) until being placed on care and maintenance in 2016. The approval covers the design for 350 tonne per day crushing, grinding and flotation circuits as well as a tailings storage facility and ancillary infrastructure.
Kuya entered into a share purchase agreement in 2017 to acquire an 80% interest in S&L Andes Export SAC, the Peruvian company that owns the Bethania Silver mine and under Kuya’s direction has been undertaking permitting efforts for a first-ever on site processing plant as a priority since 2018.
Subject to the completion of the proposed business combination (the “Transaction“) with Miramont Resources Corp. (“Miramont“) announced June 11, 2020 which upon successful completion and stock exchange approval would result in Kuya taking over Miramont and the resulting company being listed on the Canadian Securities Exchange, Kuya expects to be in a position the close the acquisition of the 80% interest in S&L Andes Export SAC later this year.
David Stein, Founder and President of Kuya stated, “The approval of the EIA for the Bethania plant project is a major accomplishment by our Peruvian team and partners, and for the Company. In addition, I would like to acknowledge the support of the Poroche community, which has been important to achieving this milestone. Not only is the permit a critical step in restarting production from the Bethania mine, but our team and stakeholders can take pride in our design for a modern, environmentally conscientious operation, particularly in terms of water usage, surface disturbance and overall efficiency.”
About Kuya Silver Corp.
Kuya is a privately held Canadian-based silver-focused mining company, earning into an 80% interest in the Bethania Silver Mine, located in Central Peru. Bethania was in production until 2016, toll-milling its ore at various other concentrate plants in the region, and Kuya’s plan is to implement an expansion and construct a concentrate plant at site before restarting operations. Bethania produced silver-lead and zinc concentrates from the run of mine material until being placed on care and maintenance due to market conditions and lack of working capital. It is expected that shortly after the closing of the Transaction, Kuya will close its acquisition of the 80% interest in the Bethania Silver Mine.
For more information, please contact:
Kuya Silver Corp.
www.kuyasilver.com
Forward-Looking Information
This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. More particularly and without limitation, this news release contains forward‐looking statements and information relating to the conditions to closing the Transaction and other matters. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. As a result, there can be no assurance that the proposed Transaction will be completed as proposed or at all. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.
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