Ecuador Copper & gold
Development and exploration company moving towards initial production.
Message: Recieves Official Notice That All Suspensions Are Lifted
| March 17, 2009 |
| Corriente Recieves Official Notice That All Suspensions Are Lifted |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 17, 2009) - Corriente Resources Inc. (TSX:CTQ)(NYSE Alternext US:ETQ) announces that its Ecuador subsidiary has received an official notice signed by Minister Derlis Palacios Guerrero of the Ministry of Mines and Petroleum in Ecuador (the "MMP") which states that the company is authorized to reinitiate its field operations. Additionally, Corriente received its Water Use Concession for general water use at the Mirador camp on February 26, 2009 and will update its Environmental Permits and Water Use Concessions for exploration drilling with the appropriate agencies. According to Mr. Jose Serrano Delgado, Sub-Secretary of Mines of the MMP, "With the suspension lifting of the companies' activities, the Government has finished the phase of the process to organize the sector and is initiating a new stage where the development of projects of national priority, of which mining has a central role, will be pushed actively. The new rules handled by an honest government will create a scenario appropriate for the state, the communities, the workers, and investors responsible with society and the environment, and a scenario where the respect of the Constitution and law comes first." Corriente CEO and President, Ken Shannon, commented, "We are encouraged and pleased with the Ecuador Government's continuing progress in working together to establish an environment in which large-scale mining can participate for the benefit of all project stakeholders." ABOUT CORRIENTE Corriente holds a 100% interest in four known copper and copper-gold porphyry deposits that are being strategically developed as the Mirador Project (which includes our Mirador Norte deposit) and the Panantza-San Carlos Project, for which NI 43-101 Technical Reports have been filed on SEDAR (www.sedar.com). The company also holds 100% of concession interests covering approximately 430 square kilometers, in which six additional copper exploration targets have been identified. Taken together, the known project deposits and exploration targets represent a potential long-term district development opportunity for large-scale copper-gold mining in southeast Ecuador. Kenneth R. Shannon, CEO and President |
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