Constitution Mining Contracts AMEC Earth & Environmental to Support Development of the Gold Sands Project
Buenos Aires, Argentina - February 25, 2009 - Constitution Mining Corp. (CMIN.OB) announces that it is progressing with the identification of the gold potential at its Gold Sands project in the Manseriche District of northeastern Peru. A drill program is to commence in March of 2009 as part of a larger program of feasibility studies. As a consequence, there is an immediate need to ensure that the appropriate environmental studies and advanced permitting processes are initiated so as not to result in any undue delays in project development. Towards this end, AMEC Earth & Environmental and its local Peruvian subsidiary, AMEC (Peru) SA, have been contracted to assist CMIN's lead consultant, San Lorenzo SAC, with the establishment and commencement of environmental studies as well as the application of mining permits.
AMEC is one of the World's leading environmental and engineering consulting organizations with a strong reputation for technical excellence and innovation, and provides safe and sustainable solutions. On the Gold Sands project, AMEC is proceeding with both a DIA ("Declaracion de Impacto Ambiental") for a Category I permit as well as an EIAsd ("Estudio de Impacto Ambiental semidetallado") for a Category II permit. This will be followed-up with an environmental baseline study with a view to contributing towards the ESIA (Environmental and Social Impact Assessment) definitive report.
Constitution Mining CEO, Dr. Willem Fuchter commented: "A characteristic of Gold Sands-style deposits is that they can be rapidly developed; for this reason, we need to start with the advanced permitting processes now, so that we will be ready for the commencement of trial mining which could be initiated in as early as 18 months time if the drilling results match expectations."
Dr. Fuchter added, "It goes without saying that it's in all our best interests to be good stewards of the land and we will never knowingly contribute to the destruction of our environment. Moreover, we will only seek to develop gold deposits when that does not conflict with our mandate of working together with nature and preserving its beauty. We are therefore pleased to be working with AMEC who has an excellent reputation in providing safe and sustainable solutions."
About Constitution Mining Corp. Our goal is to continuously increase the amount of gold underlying each of our outstanding shares. To build such value, we are focusing on the rapidly developing Gold Sands region of Peru, where we have optioned 382 square kilometers (147.5 square miles) of mining properties - the largest such block in the district.
The Gold Sands of Peru were laid down by eons of alluvial erosion. For millions of years, the waters of the Santiago and the Marañón rivers have been carving their way through the gold-rich mountain canyons of the Andes, carrying off vast amounts of gold and depositing much of the treasure in loose gravels and sands - Gold Sands - below the Manseriche gorge in Northeastern Peru. There the rivers reach a broad flood plain, slow to a crawl and release their cargo.
Drilling results from more than 500 test holes in a 'proof of concept' zone located on Constitution Mining's properties indicate the presence of tens of millions of ounces of alluvial gold in the region. We intend to capture the profit potential of that gold by applying recently enhanced mining technologies that are especially well suited to low-density, near-surface deposits. These green-mining technologies are energy-efficient and environmentally friendly -- features that support their profitable use.
Disclaimer This release contains forward-looking statements that are based on the beliefs of Constitution Mining Corp. management and reflect Constitution Mining Corp. current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. When used in this release, the words "estimate, "project," "believe," "anticipate," "intend," "expect," "plan," "predict," "may," "should," "will," "can," the negative of these words, or such other variations thereon, or comparable terminology, are all intended to identify forward-looking statements. Such statements reflect the current views of Constitution Mining Corp. with respect to future events based on currently available information and are subject to numerous assumptions, risks and uncertainties, including, but not limited to, risks and uncertainties pertaining to development of mining properties, changes in economic conditions and other risks, uncertainties and factors, which may cause the actual results, performance, or achievement expressed or implied by such forward looking statements to differ materially from the forward looking statements. The information contained in this press release is historical in nature, has not been updated, and is current only to the date indicated in this press release. This information may no longer be accurate and therefore you should not rely on the information contained in this press release. To the extent permitted by law, Constitution Mining Corp. and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission.