PERUVIAN METALS CORP. PROVIDES UPDATE ON PALTA DORADA GOLD-SILVER-COPPER PROJECT WITH RIO SILVER INC.

(Edmonton, Alberta– July 6th, 2020) Peruvian Metals Corp. (TSXV: PER) (“Peruvian Metals” or the “Company” is pleased to announce that the Company plans to initiate during the third quarter an exploration and bulk sampling program on the high grade Au-Ag-Cu Palta Dorada project (“Palta Dorada”, “Property”) located in the Ancash …

Peruvian Metals Sells Base Metal Concessions In South-Central Peru for $800,000 US


Peruvian Metals Corp. (TSXV: PER) (“Peruvian Metals” or the (“Company”) is pleased to announce that it has sold the Company’s 100% owned subsidiary Corongo Exploraciónes(“Corongo”) to Mines & Metals Trading (Peru) PLC (“MMTP”) for $200,000 US cash and $600,000 US in shares. Corongo holds several concessions totaling 2420 hectares located in the Huachocolpa Mining District in South-Central Peru. MMTP is a private company based in Isle of Man and owns the 600 tonnes per day Recuperada Mill located near Corongo’s properties. MMTP has recently entered into an arm’s-length definitive business combination agreement dated Dec. 23, 2019, with Zincore Metals Inc. (“Zincore”) to complete a reverse takeover (“RTO”) of Zincore by MMTP.

The Huachocolpa Mining District is host to several producing and past-producing vein-hosted polymetallic, base metal (silver-zinc-lead-copper plus or minus gold) mines. Polymetallic mining and milling continue to be the dominant formal economic activity in the district with Compañia Minera Kolpa S.A and MMTP’s Recuperada Mill being the largest operations currently in production in the area. MMTP will now control a large land package totaling in excess of 15,000 hectares with many of the acquired Peruvian Metals’ concessions being contiguous with MMTP concessions. Peruvian Metals will retain the Minas Maria Norte property (“Maria Norte”) located 13 kms northwest of the Recuperada Mill by transferring the property to a 100% owned subsidiary of the Company.

Transactions Details

MMTP is currently undertaking an RTO with Zincore and it is expected to be completed during the second quarter of 2020. The current valuation of MMTP shares is based on a pre-RTO financing of $17.33 CDN per share. Peruvian Metals has received $200,000 US and will receive 45,008 shares of MMTP valued at $17.33 CDN or $780,000 CDN. Upon completion of the RTO, each share of MMTP will be exchanged for approximately 73.2 Zincore shares. Peruvian Metals will receive approximately 3.3 million shares in the new TSX-Venture listed corporate entity called Latitude Base Metals. Information on the company can be found at http://latitudebasemetals.com/.

Jeffrey Reeder, CEO of Peruvian Metals comments: “The Company is very pleased to have successfully divested a non-core asset to a new group controlling the 600 tpd Recuperada Flotation Plant in the Historic Mining District in South-Central Peru. In addition to the plant, Mines & Metals Trading / Latitude Base Metals have assembled an impressive land package ensuring long operational life in the district. We are fortunate to receive an early ground floor share position in the new operating company. This transaction shows the Company’s ability to generate quality prospects and Peruvian Metals will continue to apply for concessions in new areas throughout Peru.”

Jeffrey Reeder, P Geo, a qualified person as defined in National Instrument 43-101, has prepared, supervised the preparation or approved the scientific and technical disclosure contained in this news release.

About Peruvian Metals Corp.

Peruvian Metals Corp. is a Canadian Exploration and Mineral Processing company. Our business model is to provide toll milling services for clients and to produce high grade concentrates from mineral purchases. The Company continues to acquire and develop precious and base metal properties in Peru.

For further information on Peruvian Metals Corp. please visit www.peruvianmetals.com .

Peruvian Metals Corp. is a Canadian resource company listed on the

TSX Venture Exchange : Symbol “PER”

For additional information, contact: Jeffrey Reeder Tel: (647) 302-3290

Website: www.peruvianmetals.com Email: [email protected]

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.

Disclosure Regarding Forward-Looking Statements: This press release contains certain “Forward-Looking Statements” within the meaning of applicable securities legislation. We use words such as “might”, “will”, “should”, “anticipate”, “plan”, “expect”, “believe”, “estimate”, “forecast” and similar terminology to identify forward looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com.While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward looking statements and forward-looking information.

PERUVIAN METALS CORPORATION AND RIO SILVER INC. SIGN MEMORANDUM OF UNDERSTANDING FOR THE JOINT EXPLORATION AND DEVELOPMENT OF THE PALTA DORADO GOLD-SILVER-COPPER PROJECT IN NORTHERN PERU



Peruvian Metals (“Peruvian Metals”) has signed a Memorandum of Understanding (“MOU”) with Rio Silver Inc. (“Rio Silver”) to initially establish a small-scale mining operation on the Palta Dorado Au-Ag-Cu Property (“Palta Dorado” or the “Property”) located in the Ancash Mining Department in Northern Peru. The purpose of the MOU is to establish an equal profit sharing agreement between the companies on the sales of the Au-Ag-Cu concentrates. Peruvian Metals will provide space at Peruvian Metals’ 80% owned Aguila Norte Processing Plant (“Aguila Norte or Plant”).
The property covers an area of approximately 1200 hectares and located approximately 120 kilometres southeast of the Plant. Road access to the plant is approximately 180 km’s with about 150 km’s consisting of highway. The property has had limited small scale mining in several small adits and shafts by the previous owner. Both sulphide and oxide mineral extracted from the property was shipped over 1000 kilometres to processing plants in Southern Peru.
Limited surface sampling and mapping around adits and workings has identified several oxide Au-Ag veins hosted in granodioritic rocks. The main working on the property is a fifty-three metre shaft where miners used a hoist to bring mineral to the surface. The mineralized NEE-SWW vein exposed in this main working has been observed over an 800 metre strike length on surface. Surface sampling alone couldn’t determine the grade and width of the mineralized structure due to the oxidation and cover. Samples taken from altered intrusive wallrock returns encouraging anomalous gold results.
The oxide-sulphide transition is clearly exposed in the shaft and occurs at approximately 25 metres below surface. At the initial property visit, approximately forty-five tonnes of mineral in sacks were outside of the main working ready for shipment to Southern Peru. Two composite samples were taken from these sacks and returned an average grade of 26.7 g/t Au, 23.76 oz/t Ag and 3.16% Cu. A third sample ~50 kg was taken and used for metallurgical work. The work was performed by Procesmin Ingenieros Laboratories with a head grade of 23.21 grams/MT Au, 29.04 oz/MT Ag and 4.95% Cu. Metallurgical work showed that two concentrates can be produced. The first and the most value concentrate grades 125.59 grams Au/MT, 4,808 grams Ag /MT and 24.41% Cu with a mineral to concentrate ratio of 7.8 to 1. A second marketable Au-pyrite concentrate was also produced grading 11.46 grams/MT Au, 565 grams Ag/MT and 2.90% Cu having a mineral to concentrate ratio of 2.7. This second concentrate is marketable in Peru and can be sold to traders in order to blend with higher grade arsenic gold concentrates. The overall mineral to concentrate ratio by processing this mineral would be 1:1.
Artisanal workings on a second SEE-NWW structure north of the main working exposed strongly oxidized quartz veins ranging between 30 to 70 centimetres in width. Four samples taken from mineral sacks contained heavily oxidized material ready for shipment ranged from 8.65 g/t to 17.3 g/t averaging 12.4 g/t Au. Silver assays ranged from 42 g/t and 187 g/t averaging 107 g/t Ag. A bottle-roll metallurgical sample with a head grade of 13.0 g/t Au and 102 g/t Ag returned a 92.15% gold and 65% silver recoveries over 36 hours.
The MUO will eventually lead to a 50-50 ownership between Peruvian Metals and Rio Silver in a Peruvian Company (“Joint Venture”). Equal ownership will occur once Peruvian Metals has equally matched Rio Silver’s capital investment in the property of $250,000 US. These capital expenditures will include permitting, property taxes, camp construction, property wide exploration and any infrastructure needed for mining.
The profits on the sale of concentrates will be shared between Rio Silver and Peruvian Metals after operational expenses outlined in the MUO. Operational expenses related to mining will be shared by both companies. Operational expenses will include mining, transportation of mineral and concentrates, support staff, consumable and logistics. Peruvian Metals’ 80% owned Plant will also charge the Joint Venture commercial mineral processing rates as other clients and will be considered as an operational expense.
Peruvian Metals’ will act as the operator of the Joint Venture and be responsible to obtain the small scale permits related to the mining. Peruvian Metals is very experienced in obtaining these permits and expects no serious issues. The Joint Venture has already identified an experienced underground mining who agreed to start the mobilization of the compressors and mining equipment to the site. Small-scale mining can start in the first quarter of 2020. It is expected to initially start between 400 to 600 tonnes per month working on the main workings. More crews will be added to increase production.
Jeffrey Reeder the CEO of Peruvian Metals states: “Our company is excited to jointly develop and explore the prospective Palta Dorado property with Rio Silver. The property has several high grade Au-Ag-Cu veins ready to be exploited and processed at the Aguila Norte Plant. Oxide gold material can be also exploited and sold to a number toll mills for immediate cash flow. Initial development and exploration will consist of drifting along the high grade sulphide veins generating instant cash flow. The mining engineer who has visited the site and agreed to supervise the mining has over 20 years of underground experience and is confident to be able to ship to Aguila Norte 400 to 600 tonnes in the first month of mining.”

PERUVIAN METALS CORP. AND RIO SILVER INC. SIGN MEMORANDUM OF UNDERSTANDING FOR THE JOINT EXPLORATION AND DEVELOPMENT OF THE PALTA DORADA GOLD-SILVER-COPPER PROJECT IN NORTHERN PERU

Peruvian Metals Corp.(TSXV: PER) (“Peruvian Metals” or the “Company”) has signed a Memorandum of Understanding (“MOU”) with Rio Silver Inc. (“Rio Silver”) to jointly explore the Palta Dorada Au-Ag-Cu Property (“Palta Dorada” or the “Property”) by initially conducting a detailed sampling and mapping program along with a bulk sampling campaign …

Peruvian Metals Achieves Record Throughput in 2019 at the Aguila Norte Processing Plant in Northern Peru


(Toronto, Ontario – January 6th, 2020) Peruvian Metals Corp.(TSXV: PER) (“Peruvian Metals” or the “Company”) is pleased to provide an update regarding the mineral processing at its 80% owned fully permitted Aguila Norte Processing Plant (“Aguila Norte” or the “Plant”) located in Northern Peru.
During Q4, Peruvian Metals processed 4,496 tonnes of mineralized material for third parties. The Company has achieved record throughput for 2019 by processing 18,510 tonnes resulting in an increase of 380% production compared to 2018. More than 90% of the mineral processed produced two concentrates. The last three quarters of 2019 averaged more than 60% of the plant’s capacity of 36,000 tonnes per year.
During 2019, the Plant produced high grade quality concentrates for third parties in twenty two mineral campaigns or batches ranging from 232 metric tonnes to 1750 metric tonnes. All but two of the batches were polymetallic. The plant achieved excellent recoveries by producing 4091 metric tonnes of highly marketable Zinc concentrates averaging 52.4% Zn and 1364 tonnes of Lead-Silver concentrates averaging 52.9% Pb and 125 ounces Ag per tonne. 46 tonnes of Copper concentrates was also produced by processing only one small batch copper mineral. Concentrate ratios (Amount of Mineral Processed: Tonnes of Concentrates Produced) averaged only 3.31 to 1 showing that the Plant is producing significant amount of concentrates for clients.
Jeffrey Reeder, CEO of Peruvian Metals comments: “Processing during 2019 at the Company’s Aguila Norte processing facility has achieved record processing throughput. We fully expect to dramatically exceed the 2019 throughput in 2020. The Plant is continuing to produce quality concentrates and expects to have the Plant fully commissioned during first quarter of 2020. The Company continues to establish good relationships in Northern Peru and is continuously reviewing new opportunities. Our Company expects to continue processing with a few select miners while we intend to enter into mineral purchase and profit sharing agreements with other miners. The Company will continue to focus on improving profit margins and plans to divest certain non-core assets in early 2020.”
The Aguila Norte processing plant has an environmental permit (“IGAC”) from the Peruvian government which provides the Plant with the ability to expand operations past the current 100 tonnes per day level. With the processing of third party mineral and the companies plans to convert to mineral purchasing and processing, to achieve higher margins, expansion of the facility is anticipated in the mid-Q3.
Jeffrey Reeder, P Geo, a qualified person as defined in National Instrument 43-101, has prepared, supervised the preparation or approved the scientific and technical disclosure contained in this news release.
About Peruvian Metals Corp.
Peruvian Metals Corp. is a Canadian Exploration and Mineral Processing company. Our business model is to provide toll milling services for clients and to produce high grade concentrates from mineral purchases. The Company continues to acquire and develop precious and base metal properties in Peru.

For further information on Peruvian Metals Corp. please visit www.peruvianmetals.com .

Peruvian Metals Corp. is a Canadian resource companylisted on the
TSX Venture Exchange:Symbol “PER”
For additional information, contact: Jeffrey Reeder Tel: (647) 302-3290
Website: www.peruvianmetals.com Email: [email protected]

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.

Disclosure Regarding Forward-Looking Statements: This press release contains certain “Forward-Looking Statements” within the meaning of applicable securities legislation. We use words such as “might”, “will”, “should”, “anticipate”, “plan”, “expect”, “believe”, “estimate”, “forecast” and similar terminology to identify forward looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com.While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward looking statements and forward-looking information.

Peruvian Metals Exceeds US$1 Million in Revenues for 2019

 


– Peruvian Metals Corp. (TSXV: PER)(“Peruvian Metals” or the “Company”) is pleased to provide an update regarding the mineral processing at its 80% owned fully permitted Aguila Norte Processing Plant (“Aguila Norte” or the “Plant”) located in Northern Peru. The Company reports that 2019 revenues have exceeded US$1,003,000 (CDN$1,333,000) at the Plant by processing 13,799 tonnes (“mt”). of third-party mineral in seventeen mineral campaigns. During this period the Company has worked diligently to reduce liabilities in both Canada and Peru by over CDN$400,000.

Jeffrey Reeder, CEO of Peruvian Metals, comments: “Achieving the revenue milestone of US$1 million by the 3rd Quarter is a significant accomplishment for our Company. Recent improvements such as the expansion of the tailings area will allow us to focus on achieving higher processing volumes. Significant reductions in debt levels are continuing and will improve the working capital position of the Company. Our Peruvian team has done an excellent job, not only in the mineral processing, but also developing long term relationships with mineral suppliers and miners.”

During the third quarter of 2019, Aguila Norte achieved mineral processing throughput of 4,186 mt, representing a 44% decrease from the second quarter. The Company expects to return to higher levels of processing throughput during the fourth quarter now that the expansion of the tailings area is completed. To further increase processing volumes, the Company began construction on expanded drying pads, anticipated to be completed in October.

The Company anticipates that revenues will continue to maintain, upgrade and potentially expand the Plant while providing a high-quality mineral concentrate product to its customers. With a demonstrated cash flow, Peruvian Metals gains the ability to negotiate favorable terms for mineral purchases which will provide higher operating margins. The Company expects its working capital position will continue to improve during the fourth quarter of 2019.

The Aguila Norte processing plant has an environmental permit (“IGAC”) from the Peruvian government which provides the Plant with the ability to expand operations past the current 100 mt per day level. Jeffrey Reeder, P Geo, a qualified person as defined in National Instrument 43-101, has prepared, supervised the preparation or approved the scientific and technical disclosure contained in this news release.

About Peruvian Metals Corp.

Peruvian Metals Corp. is a Canadian Exploration and Mineral Processing company. Our business model is to provide toll milling services for clients and to produce high grade concentrates from mineral purchases. The Company continues to acquire and develop precious and base metal properties in Peru.

For further information on Peruvian Metals Corp. please visit www.peruvianmetals.com .

Peruvian Metals Corp. is a Canadian resource company listed on the TSX Venture Exchange: Symbol “PER”

For additional information, contact: Jeffrey Reeder Tel: (647) 302-3290

Website: www.peruvianmetals.com   Email: [email protected]

 

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.

 

Disclosure Regarding Forward-Looking Statements: This press release contains certain “Forward-Looking Statements” within the meaning of applicable securities legislation. We use words such as “might”, “will”, “should”, “anticipate”, “plan”, “expect”, “believe”, “estimate”, “forecast” and similar terminology to identify forward looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com.While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward-looking statements and forward-looking information.

Peruvian Metals Continues Consistent Mineral Processing During August at the Aguila Norte Processing Plant in Northern Peru

September 10, 2019 – Peruvian Metals Corp. (TSXV: PER) (“Peruvian Metals” or the “Company“) is pleased to provide an update regarding the mineral processing at its 80% owned fully permitted Aguila Norte Processing Plant (“Aguila Norte” or the “Plant”) located in Northern Peru. During the month of August, Peruvian Metals …

Peruvian Metals Continues Consistent Mineral Processing during July at Aguila Norte Processing Plant in Northern Peru

Peruvian Metals Corp. (TSXV: PER) (“Peruvian Metals” or the “Company“) is pleased to provide an update regarding the mineral processing at its 80% owned fully permitted Aguila Norte Processing Plant (“Aguila Norte” or the “Plant”) located in Northern Peru. During the month of July, Peruvian Metals processed 1,887 metric tonnes …

Peruvian Metals Reports Record Throughput for Q2 at the Aguila Norte Processing Plant in Northern Peru

(Toronto, Ontario – July 11, 2019) Peruvian Metals Corp.(TSXV: PER) (“Peruvian Metals” or the “Company”) is pleased to provide an update regarding the mineral processing at its 80% owned fully permitted Aguila Norte Processing Plant (“Aguila Norte” or the “Plant”) located in Northern Peru. During the second quarter of 2019, …

Peruvian Metals Proposes to Amend Warrant Expiry Terms and Announces Management Changes

(Toronto, Ontario – June 27, 2019) Peruvian Metals Corp. (TSXV: PER) (“Peruvian Metals” or the “Company”) announces that it intends to apply to the TSX Venture Exchange (“TSXV”) to amend the terms of a total of 1,661,000 outstanding share purchase warrants issued pursuant to a private placement that closed on …