TORONTO, ONTARIO--(Marketwired - May 31, 2016) - Kombat Copper Inc. (TSX VENTURE:KBT) ("Kombat Copper" or the "Company") and its management team are pleased to provide its shareholders with the following update on EBM Mining Namibia's progress at the Kombat Mine site.
Plant Refurbishment and Mining Update
Kombat Copper previously reported that refurbishment activities have been progressing well. This status continues and EBM has reported that they have successfully reached an agreement to acquire a surplus mill from a major African mining company located in close proximity to Kombat's operations. With this acquisition, all the necessary major components needed for refurbishing and restarting the Kombat mill have been secured. EBM is now completing a full technical assessment of the facility.
As Kombat has advised in previous releases, mining will initially commence at Gross Otavi and is on track to start during June. Ore will be stockpiled until the mill is operational.
Aggregate Byproduct Opportunities
Kombat Copper has determined that selling and distributing aggregate and sand byproducts from mining processes continue to be an important opportunity for the Company. With that in mind, the scope of EBM's mining contractor agreement has been expanded to assist the Company with selling its waste rock as construction aggregate. Two opportunities are currently being evaluated, to sell aggregate for a housing development and as railroad ballast. Management expects to have further details on these potential byproduct sale agreements mid-way through the third quarter.
Offtake Agreement Update
Discussions are in progress with several groups for copper and lead concentrate offtake agreements. Management is aiming to conclude agreements during the third quarter.
Paul Bozoki, President and CEO of Kombat Copper, commented: "I am very pleased to report that the refurbishment of the mill and preparations at the mine site are moving along as planned. The management team is preparing for a very exciting third quarter as we move closer to getting the Kombat Mine back into production."
About Kombat Copper
Kombat Copper is a publicly traded Canadian exploration and development company with its core operations focused on copper resources in Namibia, one of the world's most prospective copper regions, where it has substantial assets with significant upside in place. The Company holds an 80% interest in five mining licenses in the Otavi Mountainlands, an area of Namibia particularly known for its high-grade copper deposits. Within these licenses are three past-producing mines including the Company's flagship property, the Kombat Mine.
Kombat Copper has contracted EBM Mining Namibia to begin mining lead/copper mineralization at Kombat East, Kombat Central and Gross Otavi within the year. Concentrates will be produced at the Company's production facilities, which are being refurbished by EBM. EBM is also evaluating opportunities to market aggregate stone and sand byproducts locally.
Cautionary Notes
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.
This news release may contain forward-looking statements. These statements include statements regarding the drill program, possible mineralization and deposits, the anticipated timeline regarding future exploration work, availability of results and production, the Company's expectations regarding mineral resources, EBM's ability to commence operations and operate the applicable portions of the Kombat mine, EBM's ability to make the requisite investments, the Company's expectations regarding the production and sales of mineralization from the Kombat Mine, the Company's ability to negotiate and enter into offtake agreements and potential development work and the Company's plans for the Kombat Mine including any financial impact and community impact. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
