Alturas Signs LOI for the Resguardo Copper-Gold Project in the Paleocene-Eocene Metallogenic Belt of Northern Chile

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[{"type":"text","content":"Alturas Signs LOI for the Resguardo Copper-Gold Project in the Paleocene-Eocene Metallogenic Belt of Northern Chile\n \n \n (TheNewswire)\n \n \n \n \n \n \n Toronto –\n \n \n TheNewswire -\n \n \n June 29, 2012\n \n \n –\nAlturas Minerals Corp.\n \n \n (Alturas or the\n“Company”) (TSXV:\n \n \n ALT)\n \n \n ,\n \n \n (\n \n \n BVL:ALT) is pleased to\nannounce that it has entered into a Letter of Intent (“LOI”) with\nSociedad Contractual Minera Resguardo (“Minera Resguardo” or the\n“Optionor”), a Chilean mining exploration company, to lease and\nacquire 100% of its Resguardo Copper-Gold Project (the\n“Concessions” or “Resguardo”), located about 95 km northeast\nof Copiapo, in Region III of northern Chile, referred to as “Región\nde Atacama”.\n \n \n \n \n Miguel Cardozo, President & CEO of Alturas\ncommented, “The Resguardo project represents a key strategic\ndevelopment for the Company in Chile, one of Latin America’s premier\nmining jurisdictions. Alturas will resume its exploration activities\nin Chile’s mineral-rich Andes Mountain chain. The LOI also includes\na 5-year mining lease agreement that allows the Company to explore and\ncommercially mine 18 contiguous mining concessions covering a total of\n3,891 hectares.  Alturas intends to establish a firm presence in the\nPaleocene-Eocene Metallogenic Belt of northern Chile, immediately west\nof the Miocene age Maricunga Metallogenic Belt”.\n \n \n \n The Transaction\n \n \n \n The Company will have a period of three (3) months,\nfrom the signing date of the LOI, to complete a due diligence review\non the Concessions, the Optionor, all applicable technical studies,\nand on any other matter deemed appropriate by the Company (the “Due\nDiligence”). The Parties further agree that upon the execution of\nthis LOI, a Definitive Agreement (the “Agreement”) will be\nexecuted not later than thirty (30) days from completion of the Due\nDiligence.\n \n \n \n \n With the execution of the Agreement, the Optionor shall\ngrant Alturas a mining option (the “Option”) to acquire a one\nhundred percent (100%) undivided interest in the Concessions. The\nOption will be valid as from the Effective Date and...

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