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TheStreet Open House

Casablanca Mining Announces It Has Begun Production At Its Los Pinos Hard Rock Gold Mine

CASABLANCA MINING (OTCQX: CUAU) announced today that it has begun production at its Los Pinos hard rock gold project in Rancagua, Chile. Photos of the production are available by clicking here:

http://www.buyins.com/lospinos/production.zip

The company has completed road improvements, platform terrace, tunnel entrances and has opened 2 separate tunnels (Level 2 and Level 3) that enter the mine. The Level 2 tunnel (see video below) has advanced 200 meters into the mountain, reached the front and is in production. There are mine railways and mine cars inside Level 2 for the transportation of mining materials. The Level 3 tunnel (see photos below) is already 300 meters into the mountain has reached the front. The company will also be mining Level 1 (the surface area around the mine).

Casablanca Mining CEO, Juan Carlos Camus, said, “We are very proud to announce that we have begun production at our Los Pinos gold project. We expect to ramp up quickly.”

Level 2 tunnel video of the Los Pinos mine can be seen by clicking here:

http://youtu.be/3cXiv6EiUyU

Level 3 tunnel photos can be seen by clicking here:

http://www.buyins.com/lospinos/level3photos.zip

Here is a photo montage of progress in 2012:

http://www.buyins.com/lospinos/photos.zip

The mining property includes 300 hectares called, “Los Pinos 1-30” and 100 hectares called “Teresita 1-20.” The properties are in the Valley of Cachapoal, on the plateau that lies to the West of the village of Coltauco, 700 meters above sea level, a distance of 55 km from the city of Rancagua, approximately 150 km from Santiago.

This mine was mined in the late 1940s until 1949 when, due to a landslide, it was capped and abandoned. In the 1980s it was rediscovered, and is now constituted and current on its claim maintenance requirements.

The mine covers an area of 400 hectares and corresponds to a first vein which shows significant potential for gold. The expectations for the mine are derived from the altered area and the knowledge of a second parallel vein, which shows more potential than the surface gold anomalies of the first vein, and increases the mine’s potential reserves substantially.

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