VANCOUVER, British Columbia, April 15, 2015 (GLOBE NEWSWIRE) -- ALLIANCE MINING CORP (TSX-V:ALM), (the "Company") is pleased to announce that on April 10, 2015 it entered into two memorandum of understanding (each, a "MOU") with Compañia de Minas Buenaventura S.A. ("Buenaventura") (NYSE:BVN) (Lima Stock Exchange:BUE.LM), a Peruvian mining company, relating to the purchase of a 100% interest in properties comprising of past producing mines located in South Eastern Peru: the Shila-Paula Mine property and the Poracota Mine property.
Further to a company news release dated January 5 2015, The Company is continuing to finalize its due diligence and has placed a USD$200,000 deposit and signed the MOU's associated with these projects in-order to work towards completing a definitive agreement within the next 45 days for April 10 2015.
Highlights from the January 5, 2015 press release on the project: The Company can acquire 100% of the Shila-Paula Mine property for CDN$1,500,000 and 100% of the Poracota Mine property for CDN$1,000,000 from Buenaventura as well included is all the associated exploration and expansion targets.
Further details regarding the projects and the MOU's will be released shortly.
ON BEHALF OF THE BOARD
"Travis Snider "
Mr. Travis Snider,
President & Director
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain of the statements made and information contained herein is "forward-looking information" within the meaning of the Ontario Securities Act. This includes statements concerning the Company's plans at its mineral properties, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the availability of financing for activities, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, metal price fluctuations, environmental and regulatory requirements, availability of permits, escalating costs of remediation and mitigation, risk of title loss, the effects of accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration or development, the potential for delays in exploration or development activities, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, expectations and beliefs of management and other risks and uncertainties. In addition, forward-looking information is based on various assumptions. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
CONTACT: FOR FURTHER INFORMATION PLEASE CONTACT: Alliance Mining Corp. (604) 628-6645Source:Alliance Mining Corp.