Caldas Gold Corp. (TSX-V: CGC) (OTCQX: ALLXF) announced that it has received official notification from the Agencia Nacional de Mineria confirming approval of the technical information related to its request for a 30-year extension of its Marmato mining contract 014-89M. With the economic conditions and technical approval now complete, the Company and the ANM are finalizing the legal documents for the mining title extension. The Company expects that the extension process will be completed before the end of January at which time it will proceed with the closing of the Aris Gold transaction.
About Caldas Gold Corp.
Caldas Gold is a Canadian junior mining company currently advancing a major expansion and modernization of its underground mining operations at its Marmato Project in the Department of Caldas, Colombia. Caldas Gold also owns 100% of the Juby Project, an advanced exploration-stage gold project located within the Shining Tree area in the southern part of the Abitibi greenstone belt about 100 km south-southeast of the Timmins gold camp. On November 23, 2020, Caldas Gold announced it had entered into a transaction with a group of investors, principally referred by Aris Gold Corporation, that resulted in a C$85 million private placement completed on December 3, 2020 and will result in changes to the management and the board of directors of the Company as well as a change in the Company’s name to “Aris Gold Corporation”. The net proceeds of the Aris Gold private placement, the management and board changes and the Company name change will all occur once certain escrow release conditions are met, including completion of the Marmato mining title extension.
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We acknowledge the [financial] support of the Government of Canada.