VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 3, 2017) - Revelo Resources Corp. ("Revelo" or the "Company") (TSX VENTURE:RVL) announces that its joint venture partner, Minera Newmont (Chile) Ltda. ("Newmont"), a subsidiary of Newmont Mining Corporation (NEM), has elected to withdraw from the Montezuma copper project ("Montezuma") in northern Chile and return its earned interest to Revelo in exchange for a perpetual 1% NSR Royalty interest in the project. As a result of signing definitive documentation to this effect, Revelo, consequently, owns 100% of the Montezuma project.
Tim Beale, President and CEO of Revelo, commented: "We are grateful to Newmont for their efforts exploring the Montezuma project. Revelo will focus its efforts over the next calendar quarter to fully understand and reinterpret the extensive database of information available for Montezuma, including re-logging drill core and drill chips, in order to redefine targets for further work. We remain convinced that Montezuma has a series of exciting targets located in the heart of one of the world's principal porphyry copper districts."
For further details of the Montezuma Project please refer to the Montezuma Project page on Revelo's website (http://www.reveloresources.com/projects/montezuma).
Dr. Demetrius Pohl, Ph.D., Certified Professional Geoscientist (CPG), an independent consultant, is the Company's Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosures for Mineral Projects of the Canadian Securities Administrators, and has approved the written disclosure of the technical information contained in this news release.
Revelo has consolidated an outstanding portfolio of 25 projects prospective for copper, gold and silver located along proven mineral belts in one of the world's top mining jurisdictions - Chile. Revelo's total exposure to mineral tenements in northern Chile is around 300,000 hectares, of which about 60,000 hectares (2 projects) are subject to 3rd party exploration expenditures.
Revelo is a Canadian company and is listed on the TSX Venture Exchange (TSX VENTURE:RVL). For more information, please visit Revelo's website at www.reveloresources.com.
ON BEHALF OF THE BOARD
Timothy J. Beale, President & CEO
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that Revelo 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", "indicate" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Revelo 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 forward-looking statements.