• Mon. Sep 25th, 2023

Azucar Reports Receipt of Order from Mexico’s Ministry of Economy with regards to the El Cobre Project, Veracruz, Mexico


Jun 3, 2023
Azucar Reports Receipt of Order from Mexico’s Ministry of Economy regarding the El Cobre Project, Veracruz, Mexico

Azucar Minerals Ltd.

Azucar Minerals Ltd.

VANCOUVER, British Columbia, June 02, 2023 (GLOBE NEWSWIRE) — Azucar Minerals Ltd. (“Azucar” or the “Enterprise”) (TSX-V: AMZ OTCQB: AXDDF) reports that it has received a communication (“the “Communication”) from the Directorate Basic of Mining (“DGM”) inside Mexico’s Ministry of the Economy (“Economia”) describing an injunction that has been placed on Economia by the Initial District Court of Veracruz (“First District Court”), in respect of twenty-4 mineral concessions in Veracruz such as mineral concessions (the “Concessions”) which cover the El Cobre project.

The 3-web page Communication indicates that in 2022 an amparo lawsuit was filed ahead of the Initial District Court by thirty-3 men and women (the “Plaintiffs”) relating to their rights to water and a clean atmosphere amongst other factors, as effectively as their ideal to be involved in choices that may perhaps impact them. The lawsuit was brought against Mexico’s mining authorities and, primarily based on the Communication, seems to allege that the Concessions have the prospective to influence the above rights. According to the Communication, the Plaintiffs requested an injunction on the Concessions to make certain that their rights to a clean atmosphere and details and participation will not be impacted through the amparo lawsuit trial. The Initial District Court seems to have granted this injunction against Economia from taking additional acts with respect to the concessions noted in the Communication.

In the Communication, Economia orders Azucar’s Mexican subsidiary, Minera Alondra, to suspend activities on six mineral concessions which cover the El Cobre project. The Enterprise has been advised that Economia has no legal basis for this provided that the Initial District Court injunction is directed at Economia as a celebration to the lawsuit, and not the Enterprise which has not been notified of the lawsuit and hence can not straight be bound by choices stemming from it till and unless the Enterprise is formally summoned to the trial and receives notification of the order of injunction from the presiding Judge.

Story continues

Azucar is not arranging any fieldwork at El Cobre till such time as this circumstance is clarified, and the Enterprise is presently in search of additional details from Mexican authorities and will update shareholders as it becomes out there. In the meantime the Enterprise is continuing its desktop overview of final results from field operate in 2022 in order to ascertain how very best to advance El Cobre in the context of previous final results and the Amparo lawsuit announced now.

On behalf of the Board of Directors,

“J. Duane Poliquin”
J. Duane Poliquin, P.Eng.
Chairman, Azucar Minerals Ltd.

Neither the TSX Venture Exchange nor its Regulation Solutions Provider (as that term is defined in policies of the TSX Venture Exchange) accepts duty for the adequacy or accuracy of this release.

Specific of the statements and details in this news release constitute “forward-hunting statements” inside the which means of the United States Private Securities Litigation Reform Act of 1995 and “forward-hunting information” inside the which means of applicable Canadian provincial securities laws. All statements, other than statements of historical reality, are forward-hunting statements or details. Forward-hunting statements or details in this news release relate to, amongst other factors, the timing, procedures and prospective ruling for the amparo lawsuit trial, whether or not the Enterprise is formally summoned to the trial and receives notification of the order of injunction from the presiding judge, future operations on the El Cobre Project and the timing for Mexican authorities to deliver additional details. 

These forward-hunting statements and details reflect the Company’s existing views with respect to future events and are necessarily primarily based upon a quantity of assumptions that, although regarded as affordable by the Enterprise, are inherently topic to important legal, regulatory, business enterprise, operational and financial uncertainties and contingencies, and such uncertainty typically increases with longer-term forecasts and outlook. These assumptions involve: stability and predictability in Mexico’s mineral tenure, mining, environmental and agrarian laws and regulations, as effectively as their application and judicial choices thereon continued respect for the rule of law in Mexico all needed permits, licenses and regulatory approvals getting received in a timely manner the capacity to safe and sustain title and ownership to properties and the surface rights needed for operations neighborhood assistance in the El Cobre Project and the capacity to comply with environmental, overall health and security laws. The foregoing list of assumptions is not exhaustive.

The Enterprise cautions the reader that forward-hunting statements and details involve recognized and unknown dangers, uncertainties and other elements that may perhaps lead to actual final results and developments to differ materially from these expressed or implied by such forward-hunting statements or details contained in this news release. Such dangers and other elements involve, amongst other folks, dangers associated to: political danger in Mexico crime and violence in Mexico corruption environmental dangers, such as environmental matters below Mexican laws and regulations influence of environmental influence assessment needs on the Company’s planned exploration and improvement activities on the El Cobre Project certainty of mineral title and the outcome of litigation neighborhood relations governmental regulations and the capacity to acquire needed licences and permits dangers associated to mineral properties getting topic to prior unregistered agreements, transfers or claims and other defects in title adjustments in mining, environmental or agrarian laws and regulations and adjustments in the application of requirements pursuant to current laws and regulations which may perhaps raise fees of performing business enterprise and restrict operations as effectively as these elements discussed the section entitled “Threat Things” in the Company’s most recent Management’s Discussion and Evaluation out there at www.sedar.com. Even though the Enterprise has attempted to recognize crucial elements that could impact the Enterprise and may perhaps lead to actual actions, events or final results to differ materially from these described in forward-hunting statements or details, there may perhaps be other elements that lead to actions, events or final results not to be as anticipated, estimated or intended. There can be no assurance that our forward-hunting statements or details will prove to be correct. Accordingly, readers need to not location undue reliance on forward-hunting statements or details. Except as expected by law, the Enterprise does not assume any obligation to release publicly any revisions to on forward-hunting statements or details contained in this news release to reflect events or situations following the date hereof or to reflect the occurrence of unanticipated events.

Get in touch with Data:

Azucar Minerals Ltd.
Tel. 604.689.7644
E mail: information@azucarminerals.com

Leave a Reply