Camino Closes Private Placement of $2.0M; Funding for Discovery Drilling at the Maria Cecilia Copper Porphyry Complex, Peru

About this update from Camino Minerals Corporation

[{"type":"text","content":"Camino Closes Private Placement of $2.0M; Funding for Discovery Drilling at the Maria Cecilia Copper Porphyry Complex, PeruVANCOUVER, BC / ACCESSWIRE / December 20, 2023 / Camino Minerals Corporation (TSXV:COR)(OTC PINK:CAMZF) (WKN: A116E1) (\"Camino\" or the \"Company\") is pleased to announce that it has closed its non-brokered fully-subscribed private placement for gross proceeds of $2,000,000 (the \"Financing\"). The primary use of the gross proceeds will be the commencement of drilling activities at the Company's 100% owned Maria Cecilia porphyry complex (\"Maria Cecilia\"),corporate working capital, and business development activities.Two drilling campaigns are planned in Peru for the first half of 2024 at the Company's Los Chapitos IOCG and Maria Cecilia porphyry copper properties. Exploration drilling at the Company's Los Chapitos copper property located in Arequipa will commence on December 22, 2023, and is expected to be completed in the first quarter of 2024. The Los Chapitos drilling campaign is fully funded through a $1,500,000 earn-in payment by Camino's exploration partner at Los Chapitos, Nittetsu Mining Co., Ltd. Exploration drilling at the Company's Maria Cecilia copper property, located in Ancash, is expected to start at the beginning of the second quarter of 2024, after drilling is completed at Los Chapitos.\"Camino is now funded for exploration drilling at two of our copper exploration properties in Peru in the first half of 2024, Los Chapitos IOCG and the Maria Cecilia porphyry complex\", said Jay Chmelauskas, CEO of Camino. \"Both properties have had significant historical drilling of over 20,000 and 30,000 metres, respectively. The proposed drilling campaigns with a combined meterage of up to 4,000 metres are designed as step-out drillholes to potentially make new copper discoveries at both properties.\"The Financing consisted of 33,333,334 units (each, a \"Unit\") at a price per Unit of $0.06. Each Unit consists of one common share and one common share purchase warrant (each, a \"Warrant\"). Each Warrantentitles holders to purchase an additional common share at an exercise price of $0.10 per Warrant share within thirty-six months following the closing date of the Financing. In the event the volume-weighted average closing price of the Company's common shares on the TSX Venture Exchange (the \"Exchange\")...

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