Atacama Pacific Enters into Agreement to Sell AMX Water Option to Gold Fields

Atacama Pacific Enters into Agreement to Sell AMX Water Option to Gold Fields 
TORONTO, ONTARIO -- (Marketwired) -- 11/19/13 -- Atacama Pacific Gold
Corporation  (TSX VENTURE:ATM) ("Atacama Pacific") is pleased to
report that it has entered into an agreement to sell its rights in an
option agreement with AMX de Chile S.A. ("AMX") (the "AMX Option") to
a Chilean subsidiary of Gold Fields Ltd. ("Gold Fields"). Atacama
Pacific has received an initial payment of US$200,000 and may receive
total payments of up to US$3,604,000 from the sale of the AMX Option. 
As announced on July 10, 2013, Atacama Pacific purchased 80 litres
per second ('l/s") of water from Chilean water utility Aguas Chanar
S.A.'s facility in Copiapo, for the development of its Cerro
Maricunga oxide gold deposit ("Cerro Maricunga") along with the right
of first refusal for additional water if and when available. With a
secure and sustainable source of water arranged for Cerro Maricunga,
Atacama Pacific has taken this opportunity to monetize the AMX
Option.  
Under the terms of the agreement with Gold Fields, Atacama Pacific
may receive cash payments of US$1,000,000, including US$200,000 on
signing (which has been paid) and payments of US$300,000 and
US$500,000 due on March 31, 2014 and December 31, 2014, respectively.
If Gold Fields receives approval from the Chilean water authority,
Direccion General de Aguas, for all or a portion of the 42 l/s of
water discovered within the concessions to date, Atacama Pacific will
receive a payment of US$62,000 per l/s approved. If Gold Fields
receives approval for the 42 l/s of water discovered, the final
payment to Atacama Pacific would be US$2,604,000.  
Atacama Pacific entered into an option agreement with AMX in March
2012 to explore for and acquire water rights on a series of water
exploration concessions located 95 kilometers north of Cerro
Maricunga. Exploration by AMX during the following summer resulted in
the discovery of 42 l/s of aquifer water along with the
identification of additional targets. 
About Atacama Pacific  
Atacama Pacific is a Chilean-focused precious metals development
company with a 100% ownership of Cerro Maricunga. The current
preliminary economic assessment for Cerro Maricunga, published
January 28, 2013 (the "PEA") envisions the development of an open pit
mining operation and 80,000 tonne per day heap leaching facility
producing 267,000 ounces of gold annually at a cash of cost of US$652
per ounce over a period of 10.1 years. 
National Instrument 43-101  
Carlos Guzman, a mining engineer, Fellow of the Australasian
Institute of Mining and Metallurgy and a registered member of the
Chilean Mining Commission, is the independent qualified person as
defined by National Instrument 43-101 for the January 28, 2013
Preliminary Economic Assessment for Cerro Maricunga. Mr. Guzman is a
Principal and Project Director with NCL Ingeneiria y Construccion
Ltda. Santiago, Chile. Mr. Guzman has reviewed and approved the
technical project details provided in this press release.  
For further information please visit Atacama Pacific's website at
www.atacamapacific.com. 
FORWARD LOOKING STATEMENTS  
This news release contains forward-looking statements, including
predictions, projections and forecasts. Forward-looking statements
include, but are not limited to, statements with respect to the PEA,
including the potential for annual gold production of 267,000 ounces,
total gold production of 2.7 million ounces over a 10.1 year mine
life, initial life of mine estimated operating cash costs of $652 /oz
Au, preliminary initial capital cost estimate of $514.6 million with
sustaining capital of $249.0 million, pre-tax pay-back period of 2.5
years at $1,450/oz Au and 1.7 years at $1,700/oz Au, pre-tax NPV of
$741 million at $1,450/oz Au and a 5% discount rate After-tax NPV5%
of $531 million, pre-tax NPV5% of $1,247 million and an after-tax
NPV5% of $923 million at $1,700/oz Au, pre-tax IRR) of 33.9% at
$1,450/oz Au (after-tax IRR of 26.6%), statements with respect to
pending payments from the sale of its AMX option rights, statements
regarding the expectation to increase mineral resources, statements
regarding expectations for receipt of permits and environmental
approvals, exploration results (including with respect to water
resources), statements regarding potential gold recoveries, the
success of exploration activities generally, mine development
prospects, and potential future gold production. Often, but not
always, forward-looking statements can be identified by the use of
words such as "plans", "planning", "expects" or "does not expect",
"continues", "scheduled", "estimates", "forecasts", "intends",
"potential", "anticipates", "does not anticipate", or "belief", or
describes a "goal", or variation of such words and phrases or state
that certain actions, events or results "may", "could", "would",
"might" or "will" be taken, occur or be achieved. All dollar figures
are US$.  
Forward-looking statements involve known and unknown risks, future
events, conditions, uncertainties and other factors which may cause
the actual results, performance or achievements to be materially
different from any future results, prediction, projection, forecast,
performance or achievements expressed or implied by the
forward-looking statements. Such factors include, among others, the
results of due diligence activities, changes in economic parameters
and assumptions, the interpretation and actual results of current
exploration activities; changes in project parameters as plans
continue to be refined; the results of regulatory and permitting
processes; future prices of gold; possible variations in grade or
recovery rates; failure of equipment or processes to operate as
anticipated; labour disputes and other risks of the mining industry;
the results of further economic and technical studies, delays in
obtaining governmental approvals or financing or in the completion of
exploration, as well as those factors disclosed in Atacama Pacific's
publicly filed documents.  
Although Atacama Pacific has attempted to identify important factors
that could cause actual actions, events or results to differ
materially from those described in forward-looking statements, there
may be other factors that cause actions, events or results not to be
as anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements.  
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Atacama Pacific Gold Corporation
Carl B. Hansen
President and CEO
416 861 8267
info@atacamapacific.com
www.atacamapacific.com
 
 
Press spacebar to pause and continue. Press esc to stop.