|April 17, 2012|
Exploration Starts at Cumobabi
|Vancouver, BC -- April 17, 2012: Evrim Resources Corp. (TSX.V:EVM) ("Evrim" or the "Company") is pleased to announce the start of the 2012 exploration program at the Cumobabi copper -- molybdenum porphyry project in Sonora, Mexico. The exploration program is a joint effort between Inmet Mining and Evrim and is subject to an option agreement announced in February 2011.|
The 2012 exploration program will consist of approximately 100 line-kilometres of pole-dipole Induced Polarization geophysics in conjunction with detailed geological mapping to define new drill targets and refine drill targets previously identified in the 2011 program. Exploration in 2011 consisted of mapping, geochemical sampling and ZTEM geophysics over the entire 407 square kilometre property. Line cutting is currently underway and the program is expected to be completed by the end of July. Compiled data will then be analyzed to determine which drill targets warrant testing later in 2012. The approved budget for this phase of exploration at Cumobabi is approximately $1.12 million.
"The exploration at Cumobabi in 2011 was a property wide reconnaissance program aimed at identifying targets and/or areas for drill testing. This year, we are taking the next step to refine those targets, with a plan to drill test them later in 2012," commented Paddy Nicol, President and CEO. "Further we are pleased to have an excellent partnership with Inmet Mining, who has taken a dedicated and systematic approach to exploring such a large amount of prospective ground at the Cumobabi project."
About the Cumobabi Project
The Cumobabi copper project comprises a dominant land position consisting of 407 square kilometres in a proven porphyry and breccia district in Sonora, Mexico. Geology underlying the Cumobabi project consists of Cretaceous andesite volcanic centres intruded by Laramide age rocks including granodiorite and quartz-feldspar porphyries. The Cumobabi project is in its second year of a five year option with Inmet whereby Inmet can earn a 60% interest in the project by spending $5,000,000 in exploration expenditures and making cash payments of $250,000.
About Evrim Resources
Evrim is a mineral exploration company with a diverse portfolio of quality gold and copper projects, and a geological database covering Mexico and portions of south western United States. Evrim's business plan is to generate exploration targets that it will advance through option and joint venture agreements with industry partners to create shareholder value. The projects generated to date form a solid foundation for Evrim's execution of the joint venture business model, which will be further enhanced by a pipeline of new internally developed projects.
Qualified Person Statement
The content of this release has been reviewed by Stewart Harris, P.Geo., General Manager, Exploration for the Company. Mr. Harris is a Qualified Person as defined under the terms of National Instrument 43-101.
For further information on Evrim please visit www.evrimresources.com.
On Behalf of the Board
EVRIM RESOURCES CORP.
President & CEO
To find out more about Evrim Resources Corp., please contact Paddy Nicol, President or Lisa Stefan, Manager, Investor Relations at 604-248-8648.
Forward Looking Information
This news release includes certain statements that may be deemed "forward looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that Evrim Resources Corp. (the "Company") expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.
Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither 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.
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