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/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/TORONTO,
June 22, 2012 /CNW/ - Further to its news release dated
February 16, 2012, Karmin Exploration Inc. ("
Karmin") (TSXV: KAR) is pleased to announce that the Peruvian Superintendence of the Securities Market has approved the listing of Karmin's common shares for trading on the Bolsa de
Valores de Lima. The common shares are expected to be begin trading on the Bolsa de
Valores de Lima on
Monday, June 25, 2012. KALLPA Securities Sociedad Agente de Bolsa S.A. acted as Karmin's sponsoring broker for the listing.
Karmin's Chief Executive Officer,
David Brace, stated "We are very pleased to have obtained this important listing. Currently, over 30% of Karmin's common shares are held by South American investors. As the Bolsa de
Valores de Lima is the third largest stock exchange in
Latin America, we believe that Karmin's listing will significantly increase Karmin's exposure to current and potential investors in
South America and will represent a vital step in Karmin's continued exploration and development of its projects in
The common shares of Karmin are listed on the TSX Venture Exchange and trade under the symbol "KAR" and are expected to commence trading on the Bolsa de
Valores de Lima on
Monday June 25, 2012. The principal business of Karmin is to acquire, explore and develop resource properties.
Karmin owns 100% of the 25-square-kilometre Cushuro Gold Project located in the world-class Alto Chicama gold-mining district of northern
Karmin owns 100% of the Aripuanã Gold-Silver Project, which encompasses the gold and silver mineralization associated with near-surface oxidized portions of numerous massive-sulphide deposits in the 820-square-kilometre Aripuanã Zinc Project in north-western
Karmin owns 30% of the Aripuanã Zinc Project, one of the largest undeveloped zinc projects in
Brazil. The Aripuanã Zinc Project covers a mineralized massive-sulphide district that includes five areas of mineralization (Ambrex, Arex, Babacu, Massaranduba and Mocoto) over a 25- kilometre strike length. A technical report completed by AMEC International (
Chile) S.A. in accordance with National Instrument 43-101-
Standards of Disclosure for Mineral Projects in 2007 (available on SEDAR,
www.sedar.com) states that the Ambrex deposit has indicated resources of 18.3 million tonnes grading 4.0% zinc, 1.5% lead, 0.18 g/t gold and 35.6 g/t silver. The Arex deposit has indicated resources of 9.4 million tonnes grading 2.5% zinc, 1.0% lead, 0.45 g/t gold and 34.7 g/t silver. Votorantim owns 70% of the Aripuanã Zinc Project, but assumes 100% of the project costs until the completion of a bankable feasibility study
Disclaimer Relating to Forward-Looking Information
This news release contains forward-looking statements that are based on the belief of management and reflect Karmin's current expectations. Forward-looking statements include, but are not limited to, possible events and statements. The words "plans," "expects," "is expected," "scheduled," "estimates," "forecasts," "projects," "intends," anticipates," or "believes," or variations of such words and phrases or statements that certain actions, events or results "may," "could," "would," "might," or "will be taken," "occur," and similar expressions identify forward-looking statements. The forward-looking statements and information in this press release include, but are not limited to, the date upon which the common shares of Karmin are listed on the Bolsa de
Valores de Lima, information relating to the business plans of Karmin and the anticipated benefit to Karmin resulting from the listing on the Bolsa de
Valores de Lima, including access to capital and the exploration and development of its projects. Such statements and information reflect the current view of Karmin with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
Such statements are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections in the forward-looking statements will not occur, and that actual performance and results in future periods may