Antioquia Gold studies first quarter 2023 outcomes and gives updates on environmental permits

First quarter operational highlights

• Complete 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 important change from the earlier quarter.
• Complete underground growth 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 growth:

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). Nonetheless, 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. Nonetheless, the proposed tailings storage facility’s software to retailer filtered tailings was denied by the Environmental Authority.

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

Gonzalo De Losada, CEO of Antioquia Gold stated:“Whereas we’re upset 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 carefully with the environmental authority and exploring different choices for the secure and liable for the filtered tailings generated by our plant.”

Readers ought to be cautioned that the Company’s determination to maneuver ahead with the development and manufacturing of the Cisneros mine shouldn’t be based mostly on the outcomes of any pre-feasibility examine or mineral useful resource feasibility examine demonstrating financial or technical feasibility. Readers are referred to the Cisneros report for particulars of independently verified mineral sources on the Cisneros challenge. Since 2013, the Company has undertaken exploration and growth actions; and after consideration of assorted components, together with however not restricted to: exploration and growth outcomes so far, internally developed technical info, 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 examine at this stage is pointless and that probably the most accountable use of the Company’s sources is to proceed with the event and building of the mine. Readers are cautioned that, as a result of lack of a pre-feasibility examine or feasibility examine, there’s better uncertainty and the next danger of financial and technical failure related to the Firm’s determination. Particularly, there’s an extra danger that mineral grades can be decrease than anticipated, the chance that ongoing building or mining operations can be harder or dearer than administration anticipated. Productive and financial variables can differ broadly, as a result of absence of an in depth financial and technical evaluation in accordance with NI 43-101. Mission failure could negatively affect the corporate’s future profitability, its capacity to repay current loans, and its total capacity to proceed working.

Certified folks

Roger Moss, Ph.D., P.Geo., Advisor to Antioquia Gold, is the Certified Particular person as outlined by Nationwide Instrument 43-101 and has reviewed and accredited the technical info supplied on this information launch.

For extra details about Antioquia Gold Inc. contact:
Gonzalo de Losada – CEO
Thomas Kelly – Director
Antioquia Gold Inc.
E-mail: [email protected]
www.antioquiagoldinc.com
Phone 57 604 6041948

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Ahead-looking advisory statements to readers:

This press launch accommodates “forward-looking info” pursuant to Canadian securities legal guidelines. This info 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 replicate present expectations or beliefs concerning future occasions and embrace, however will not be restricted to, statements regarding: the completion of the rights provide and the usage of the proceeds of the ‘provide. Any assertion that expresses or implies discussions with respect to forecasts, expectations, beliefs, plans, projections, targets, assumptions, or future occasions or efficiency (usually, however not all the time, utilizing phrases or phrases equivalent to “expects”, “anticipates”, “plans “, “plans”, “estimates”, “assumes”, “intends”, “technique”, “targets”, “targets”, “program” or variations thereof or stating that sure actions, occasions or outcomes “could”, “could”, “would”, “might” or “will” be taken, happen or be achieved, or the unfavourable of any of those phrases and related expressions) will not be statements of historic reality and could also be forward-looking statements.

Ahead-looking statements are made based mostly on sure assumptions of the Firm and different vital components which, if false, might trigger Antioquia’s precise outcomes, efficiency or achievements to be materially completely different from expressed or implied future outcomes, efficiency or achievements in these statements. Such statements and data are based mostly on quite a few assumptions concerning current and future enterprise prospects and techniques and the surroundings through which Antioquia will function sooner or later, together with the accuracy of any useful resource estimates, the worth of gold, anticipated prices and Antioquia’s capacity to satisfy its targets, anticipated monetary efficiency, regulatory developments, growth plans, exploration, growth and mining actions and commitments. Whereas administration believes its assumptions about these issues are cheap based mostly on the data at the moment accessible to it, they may 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 won’t be achieved or that assumptions won’t replicate future expertise. We warning readers to not place undue reliance on these forward-looking statements as numerous vital danger components 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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