Karbonate Minerals Corp. Secure 3 More Exploration Licenses in Oruro, Bolivia

Canadian mining company, Karbonate Minerals Corp., have announced that they have secured 3 more exploration licenses for their Oruro project in Bolivia.

Karbonate Minerals Corp.'s initial expectations are for the exploration results to show further potential reserves contained within more than 1,000 metric tonnes of mid-to-high grade deposits.

Karbonate Minerals Corp. who have only been at the site since August 2022, have already carried out extensive exploration by way of more than 600 test drills primarily to the east of the site at zones named Redeye Plain and Falcon Ditch. The 3 new licenses allow the company to now explore an area of nearly 5 square kilometers to the west of the project.

This exploration program is set to commence before the year end with a series of 180 test holes to be drilled initially over an area of 2 square kilometers. This will allow the company to identify any zones containing significant deposits before continuing the drill program to the remaining area available to them.

Simon Ogilvy, Production Director at Karbonate Minerals Corp. commented, "Our commitment to our existing projects in Bolivia is growing exponentially. The granting of 3 more licenses has strengthened our commitment even further. We anticipate to start the exploration projects within the fourth quarter of this year and we will release the results once available."

"We see these potential explorations being of huge significance to our overall output and capabilities in the region which will only increase once our anticipated results are proven," Simon Ogilvy added.

Dependent on the results of the exploration, the company would aim to start commercially mining the project before 2026, subject to receiving all the necessary permits in time.

For further information on this, and all other investor related news, please contact Mr. Pierre Ferrier, Karbonate Minerals Corp.'s Investor Relations Director, via [email protected].