GCM Mining Files National Instrument 43-101 Technical Report for Its Toroparu Project in Guyana

Rhea-AI Summary

GCM Mining Corp. (TSX: GCM, OTCQX: TPRFF) filed a technical report and preliminary economic assessment for its Toroparu Gold Project in Western Guyana. The report, dated January 11, 2022, supports earlier disclosures and is based on the updated mineral resource estimate effective November 1, 2021. The company is recognized as a mid-tier gold producer, with operations in Colombia and significant interests in several other mining entities.

Additional information can be found on GCM Mining's official website and SEDAR.

Positive

• Filed a comprehensive technical report and preliminary economic assessment for the Toroparu Gold Project.
• The Toroparu project is identified as one of the largest undeveloped gold/copper projects in the Americas.
• GCM Mining is the largest underground gold and silver producer in Colombia, showcasing its operational strength.

Negative

• None.

TORONTO, Jan. 13, 2022 (GLOBE NEWSWIRE) -- GCM Mining Corp. (“GCM Mining” or the “Company”) (TSX: GCM, OTCQX: TPRFF) announced today that it has filed a technical report and preliminary economic assessment (the “Technical Report”) pursuant to National Instrument 43‐101 - Standards of Disclosure for Mineral Projects (“NI 43‐101") for its Toroparu Gold Project located in the Upper Puruni River Region of Western Guyana. The Technical Report dated January 11, 2022, with an effective date of December 1, 2021, supports the disclosure made by the Company in its December 1, 2021 news release and was prepared by Nordmin Engineering Ltd. The Technical Report is based on the updated Mineral Resource estimate for the Toroparu Gold Project with an effective date of November 1, 2021.

About GCM Mining Corp.

GCM Mining Corp. is a mid-tier gold producer with a proven track record of mine building and operating in Latin America. In Colombia, the Company is currently the largest underground gold and silver producer with several mines in operation at its high-grade Segovia Operations. In Guyana, the Company is advancing the Toroparu Project, one of the largest undeveloped gold/copper projects in the Americas. The Company also owns an approximately 44% equity interest in Aris Gold Corporation (TSX: ARIS) (Colombia – Marmato), an approximately 27% equity interest in Denarius Silver Corp. (TSX-V: DSLV) (Spain – Lomero-Poyatos; Colombia – Guia Antigua and Zancudo) and an approximately 26% equity interest in Western Atlas Resources Inc. (TSX-V: WA) (Nunavut – Meadowbank).

Additional information on GCM Mining can be found on its website at www.gcm-mining.com and by reviewing its profile on SEDAR at www.sedar.com.

Cautionary Statement on Forward-Looking Information:

This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to its anticipated business plans or strategies. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) 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. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of GCM Mining to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated as of March 31, 2021 which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and GCM Mining disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. 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, the reader is cautioned not to place undue reliance on forward-looking statements.

For Further Information, Contact:
Mike Davies
Chief Financial Officer
(416) 360-4653
investorrelations@gcm-mining.com

FAQ

What is the recent development for GCM Mining Corp. regarding the Toroparu Gold Project?

GCM Mining Corp. filed a technical report and preliminary economic assessment for the Toroparu Gold Project, dated January 11, 2022.

When was the mineral resource estimate for the Toroparu Gold Project updated?

The updated mineral resource estimate for the Toroparu Gold Project is effective as of November 1, 2021.

What does the technical report for the Toroparu Gold Project support?

The technical report supports the disclosures made by GCM Mining in its December 1, 2021 news release.

What is the stock symbol for GCM Mining Corp.?

The stock symbol for GCM Mining Corp. is TPRFF on the OTCQX and GCM on the TSX.