VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 1, 2012) - Atico Mining Corporation ("Atico" or the "Company") (TSX VENTURE:ATY) is pleased to announce that Mr. Fernando E. Ganoza was appointed Chief Executive Officer on April 24, 2012.
Mr. Fernando Ganoza has a BSc. in Mining Engineering from the Universidad de Antofagasta in Chile and an MBA from the Darden School of Business at the University of Virginia. He has over 11 years of management experience in Latin America including roles in Peru and Mexico as Project Manager and Country Manager for Canadian based producer Fortuna Silver Mines. As of 2009, Mr. Ganoza has been involved in strategic planning and business development at Cargill Inc, a US based private company with operations in 65 countries.
Mr. Jorge A. Ganoza, Chairman of the Board, commented, "The appointment of Fernando Ganoza brings a wealth of analytical, financial and strategic skills which complement the company's strong technical and administrative capabilities. Atico remains focused on the exploration of El Roble Project in Colombia while also pursuing additional business opportunities in Peru, Chile and Colombia."
Pursuant to the Company's stock option plan, 250,000 incentive stock options exercisable at $0.55 per share for a period of five years have been granted to Mr. Fernando Ganoza.
The district-scale exploration program at El Roble Project is scheduled to commence by mid-May. Geotech Ltd., a Canadian company which provides full service contract airborne geophysical surveys, has been retained to conduct a helicopter-borne Versatile Time Domain Electromagnetic (VTEM) survey over the ten kilometer favorable contact. The "near-field" exploration program will begin during the first week of May with the preparation of eight cross-cuts in the 2000 level; drilling below this level is programmed to start by the end of the month.
Atico Mining Corporation
Atico is a growth oriented, copper and gold exploration and development company focused on mining opportunities in Latin America. The Company's primary property is the El Roble Project. The Company is selectively pursuing additional acquisition opportunities. For more information, please visit our website at www.aticomining.com.
ON BEHALF OF THE BOARD
Jorge A. Ganoza, Chairman of the Board
Atico Mining Corporation
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.
Cautionary Note Regarding Forward Looking Statements
This announcement includes certain "forward-looking statements" within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation the use of net proceeds, are forward-looking statements. Forward- looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs; the need to obtain additional financing to maintain its interest in and/or explore and develop the Company's mineral projects; uncertainty of meeting anticipated program milestones for the Company's mineral projects; and other risks and uncertainties disclosed under the heading "Risk Factors" in the prospectus of the Company dated March 2, 2012 filed with the Canadian securities regulatory authorities on the SEDAR website at www.sedar.com .
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.