Camino Minerals Corporation (TSX-V:COR) is pleased to announce that it has completed a non-brokered private placement for gross proceeds of $1,516,060 which will be used to fund step out drilling at its Los Chapitos project located in southern Peru, and for general working capital.

The non-brokered private placement consisted of 4,331,600 units at a price of $0.35 per unit, each unit being comprised of one common share and one non-transferable share purchase warrant. The common shares, warrants and any shares issued on the exercise of warrants are subject to a four-month hold period expiring July 1, 2018. Each warrant will entitle the holder to acquire one additional common share of the Company at a price of $0.45 per common share until August 27, 2019. The warrants are subject to an acceleration right in favor of the Company: should the closing price of the common shares of the Company on the TSX Venture Exchange be $0.75 or higher for ten consecutive trading days, the Company will be entitled to accelerate the expiry of the warrants to the date that is 30 business days from the date of the issuance of a news release by the Company announcing the exercise of the acceleration right.

The Company paid $49,980 in cash and issued 142,800 warrants to finders in respect of the placement. Each Finder’s Warrant is subject to a hold period expiring on July 1, 2018 and will be exercisable into one common share of the Company at a price of $0.45 per share until August 27, 2019. The Finder’s Warrants will be subject to the same acceleration clause as the private placement warrants. 

The 2016 drill program identified a significant new copper discovery at the Adriana Zone which currently measures over 600 meters long, up to 200 m wide, and over 300 meters deep. It is open for expansion down dip and along trend to the northwest and southeast. The step out drill program is expected to commence by late March, and will focus on drilling to the northwest and testing between the Adriana Zone and the Katty Zone which lies 1.5 kilometers to the southeast. A summary presentation can be found on the company website at www.caminominerals.com.

Kenneth C. McNaughton, M.A.Sc., P.Eng., the President and Chief Executive Officer of the Company, is a Qualified Person (QP) and is responsible for the Chapitos Project exploration program.

About Camino Minerals Corporation

Camino is a discovery-oriented mineral exploration company. The Company is focused on the acquisition and development of high grade copper and precious metal projects. For more information, please refer to Camino’s website at www.caminominerals.com