AM Resources Undertakes Exploration Program on La Esperanzaadmin
MONTREAL, June 11, 2019 – AM Resources Corporation (“AM” or the “Corporation”) (TSXV: AMR) (Frankfurt: 76A) is pleased to announce that it is undertaking an exploration program on its recently acquired La Esperanza asphaltite project located Norte de Santander, in Colombia. The main goal of the drilling program will be to guide the Corporation in its anticipated start in asphaltite production. Several targets have been identified on the property including geophysical anomalies (Electrical Resistivity Tomography (ERT) and Time-Domain Electromagnetic Method (TDEM)) and recently productive shallow underground workings. Drilling will be aimed at extending known zones of mineralization as well as discover new zones. The secondary goal of the program is to collect sufficient data to produce a 43-101 resources estimate on the property based on drilling as well as the near surface occurrences of asphaltite.
The Corporation continues to be active on its other Rio Negro asphaltite project (exploration) and its Mina Luz coal project (production).
Grant of Options
Lastly, the Corporation announces it has granted incentive stock options to a director to purchase up to an aggregate of 300,000 common shares of the Company (the « Options« ). The Options are exercisable for a period of five years, at a price of $0.10 per share. All Options were granted in accordance with the Corporation’s stock option plan on May 30, 2019.
The technical and scientific content of this press release has been reviewed and approved by Pierre O’Dowd, P. Geo., the Corporation’s qualified person under National Instrument 43-101.
ABOUT AM RESOURCES CORP.
AM Resources Corp. is a mining exploration Corporation with interests in coal and natural bitumen projects in Colombia. AM is betting on Colombia’s excellent mineral potential and favourable climate to pursue its Colombian venture.
For more information, please contact:
Adriana Rios Garcia
President and Chief Executive Officer
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.
Forward Looking Statements
This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of AM to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as « plans », « expects » or « does not expect », « is expected », « estimates », « intends », « anticipates » or « does not anticipate », or « believes », or variations of such words and phrases or state that certain actions, events or results « may », « could », « would », « might » or « will » be taken, occur or be achieved. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties.
Actual results could differ materially from those currently anticipated due to a number of factors and risks. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date.
AM does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.