Amerigo Offers Insight into MVC Operations Amid Challenges

Operational Update from Amerigo Resources

Amerigo Resources Ltd. (TSX: ARG; OTCQX: ARREF) has provided significant updates regarding its operations at Minera Valle Central (MVC), a facility wholly owned by the Company in Chile. These updates are pivotal given the recent events that have affected production capacities.

Impact of Seismic Event

A seismic incident that occurred recently has led to serious consequences for the MVC operations. The event, which transpired in the El Teniente underground mine that supplies fresh tailings to MVC, resulted in a rockfall, tragically resulting in the loss of six workers' lives. This unfortunate circumstance prompted immediate action from Codelco, the mine's operator, leading to the suspension of operations and initiation of search and rescue efforts.

Processing of Tailings

As mining at El Teniente has been temporarily halted, MVC has shifted its focus to processing historic tailings. While historic tailings processing continues, the full impact on Amerigo’s annual production is still uncertain and highly dependent on when mining operations will be able to restart.

Production Losses and Future Outlook

Currently, the estimated loss of copper production at MVC is around 100,000 pounds each day as a result of this disruption. The Company remains steadfast in its commitment to minimize production impacts and adapt operations as needed. The resumption of operations at El Teniente will be crucial for restoring full production capacity and achieving strategic output goals.

Amerigo's Commitment to Sustainability

Amerigo Resources maintains a proactive stance on environmental and sustainability matters while navigating complex challenges. By utilizing historic tailings, the Company not only enhances its production capabilities but also contributes to reducing environmental impacts associated with mining operations.

Industry Partnerships and Innovations

Amerigo’s long-term relationship with Codelco enhances its ability to innovate and adapt in an evolving industry. By continuously developing new methods to process tailings more efficiently, Amerigo positions itself as a leader in sustainable mining practices, ensuring both economic viability and environmental stewardship.

Future Developments

Looking ahead, Amerigo is committed to transparency with stakeholders regarding the operational impacts stemming from recent events. The Company is also exploring opportunities for future mining projects to ensure continued growth and resilience in a dynamic market.

About Amerigo Resources

As a key player in the copper production industry, Amerigo Resources is known for its innovative approach to sourcing and processing metals. The Company’s operations at MVC highlight its dedication to maximizing resource recovery while maintaining high environmental standards. Amerigo continues to work closely with Codelco to drive advancements in mining technologies and strategies.

Contact Information

Aurora Davidson
President and CEO
(604) 697-6207
Email: ad@amerigoresources.com

Graham Farrell
Investor Relations
(416) 842-9003
Email: graham@northstarir.ca

Frequently Asked Questions

What recent event impacted Amerigo's operations?

A seismic event at the El Teniente mine caused a rockfall, necessitating the suspension of operations.

What is the current focus of MVC operations?

MVC is temporarily processing historic tailings due to the suspension of fresh tailing processing.

How much copper production is currently affected?

The estimated loss of daily copper production is around 100,000 pounds.

What is Amerigo's sustainability strategy?

Amerigo employs innovative methods to process tailings and minimizes environmental impacts, ensuring sustainable mining practices.

Who can I contact for more information about Amerigo?

For inquiries, you can reach Aurora Davidson at (604) 697-6207 or via email at ad@amerigoresources.com.

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