Antioquia Gold stories first quarter 2023 outcomes and offers updates on environmental permits

Calgary, Alberta–(Newsfile Corp. – April 26, 2023) – Antioquia Gold Inc. (TSXV: AGD) (OTC Pink: AGDXF) (“Gold of Antioquia“, the Firm or the “Society”) is happy to supply a abstract of the working outcomes of its Cisneros mining operation for the quarter ended March 31, 2023 and to announce that the Firm has obtained the mandatory environmental clearance to function its tailings filtration plant.

First quarter operational highlights

• Whole gold focus manufacturing decreased 20.6% to 10,193 ounces from the prior quarter.

• Third-party gold manufacturing in concentrates decreased 40.3% to 1,992 ounces from the prior quarter.

• Gold’s restoration remained robust at 96.3% with no vital change from the earlier quarter.

• Whole underground improvement elevated 5% to three,400 meters from the earlier quarter.

• Exploration and diamond infill drilling totaled 12,215 meters, up 142% from the earlier quarter.

Month-to-month operational particulars

Gold manufacturing and metallurgical restoration:

Underground improvement:

March manufacturing was considerably impacted by the suspension of operations enforced by the Antioquia Regional Environmental Authority, as beforehand reported in press releases (March 23, 2023). Nevertheless, this example has been overcome and the operations of the method crops have been normalized as of 1 April.

Up to date Environmental Permits:

The Firm was formally notified of the allow approval to function our tailings facility on April 17, 2023. Nevertheless, the proposed tailings storage facility’s software to retailer filtered tailings was denied by the Environmental Authority.

The story continues

The implementation of a filtered tailings plant is an modern resolution that enables a major discount within the environmental footprint of the operation’s manufacturing processes, in compliance with all relevant environmental rules and requirements. This achievement represents a major step within the firm’s dedication to sustainability and environmental safety.

Gonzalo De Losada, CEO of Antioquia Gold stated: “Whereas we’re dissatisfied with the denial of the requested tailings storage facility, we stay dedicated to discovering accountable and sustainable options for the administration of our tailings. We’re working intently with the environmental authority and exploring different choices for the secure and chargeable for the filtered tailings generated by our plant.”

Readers must be cautioned that the Company’s choice to maneuver ahead with the development and manufacturing of the Cisneros mine will not be based mostly on the outcomes of any pre-feasibility research or mineral useful resource feasibility research demonstrating financial or technical feasibility. Readers are referred to the Cisneros report for particulars of independently verified mineral sources on the Cisneros mission. Since 2013, the Company has undertaken exploration and improvement actions; and after consideration of varied elements, together with however not restricted to: exploration and improvement outcomes thus far, internally developed technical data, availability of finance, low preliminary prices internally estimated by Firm administration, Firm is of the opinion that the institution of mineral reserves, the commissioning of a pre-feasibility or feasibility research at this stage is pointless and that probably the most accountable use of the Company’s sources is to proceed with the event and development of the mine. Readers are cautioned that, because of the lack of a pre-feasibility research or feasibility research, there’s better uncertainty and a better threat of financial and technical failure related to the Firm’s choice. Specifically, there’s an extra threat that mineral grades can be decrease than anticipated, the chance that ongoing development or mining operations can be harder or costlier than administration anticipated. Productive and financial variables can fluctuate extensively, because of the absence of an in depth financial and technical evaluation in accordance with NI 43-101. Venture failure might negatively influence the corporate’s future profitability, its means to repay present loans, and its general means to proceed working.

Certified individuals

Roger Moss, Ph.D., P.Geo., Marketing consultant to Antioquia Gold, is the Certified Individual as outlined by Nationwide Instrument 43-101 and has reviewed and authorized the technical data offered on this information launch.

For extra details about Antioquia Gold Inc. contact:
Gonzalo de Losada – CEO
Thomas Kelly – Director
Antioquia Gold Inc.
E mail: data@antioquiagold.com
www.antioquiagoldinc.com
Phone 57 604 6041948

Neither the TSX Enterprise Change nor its settlement service supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts duty for the adequacy or accuracy of this information launch.

Ahead-looking advisory statements to readers:

This press launch incorporates “forward-looking data” pursuant to Canadian securities legal guidelines. This data and statements, referred to herein as “forward-looking statements,” are made as of the date of this press launch and the Firm doesn’t intend and undertakes no obligation to replace any such forward-looking statements, besides as required by regulation.

Ahead-looking statements relate to future occasions or future efficiency and mirror present expectations or beliefs concerning future occasions and embody, however should not restricted to, statements regarding: the completion of the rights supply and using the proceeds of the ‘supply. Any assertion that expresses or implies discussions with respect to forecasts, expectations, beliefs, plans, projections, objectives, assumptions, or future occasions or efficiency (usually, however not all the time, utilizing phrases or phrases corresponding to “expects”, “anticipates”, “plans “, “plans”, “estimates”, “assumes”, “intends”, “technique”, “targets”, “targets”, “program” or variations thereof or stating that sure actions, occasions or outcomes “might”, “might”, “would”, “might” or “will” be taken, happen or be achieved, or the detrimental of any of those phrases and related expressions) should not statements of historic truth and could also be forward-looking statements.

Ahead-looking statements are made based mostly on sure assumptions of the Firm and different necessary elements which, if false, might trigger Antioquia’s precise outcomes, efficiency or achievements to be materially totally different from expressed or implied future outcomes, efficiency or achievements in these statements. Such statements and knowledge are based mostly on quite a few assumptions concerning current and future enterprise prospects and techniques and the setting during which Antioquia will function sooner or later, together with the accuracy of any useful resource estimates, the value of gold, anticipated prices and Antioquia’s means to satisfy its targets, anticipated monetary efficiency, regulatory developments, improvement plans, exploration, improvement and mining actions and commitments. Whereas administration believes its assumptions about these issues are cheap based mostly on the knowledge at present accessible to it, they might show to be incorrect. Further dangers are described in Antioquia’s newest annual disclosure kind, the annual and interim MD&A, and different disclosures accessible within the firm profile at: www.sedar.com.

By their very nature, forward-looking statements contain inherent dangers and uncertainties, each common and particular, and dangers exist that estimates, forecasts, projections and different forward-looking statements is not going to be achieved or that assumptions is not going to mirror future expertise. We warning readers to not place undue reliance on these forward-looking statements as plenty of necessary threat elements might trigger precise outcomes to vary materially from the beliefs, plans, targets, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements look statements.

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