Camino, Nittetsu to begin leaching studies for Puquios

Executive Summary

• Camino Minerals Corp. and Nittetsu Mining have commenced proprietary leaching studies at Nittetsu’s facility in Tokyo to assess the scalability of the Puquios copper project in Chile.
• The studies focus on evaluating scale-up opportunities for hypogene copper mineralization located beneath the existing supergene zones, utilizing Nittetsu’s proprietary extraction technologies.
• The first stage of the Puquios mine is on track for production, with construction anticipated in the first half of 2026, supported by active pursuit of a debt facility with a Japanese lender.

Key Details

• Leaching Studies: Joint venture partners Camino Minerals and Nittetsu Mining are initiating studies at Nittetsu’s metallurgical and chemical facility in Tokyo.
• Objective: Assess the scalability of the Puquios copper project, specifically targeting growth opportunities from hypogene copper mineralization beneath the supergene, soluble copper zones.
• Drilling Data: Approximately 8,170 metres of drilling have been completed in the primary mineralized zone.
• Exploration Infrastructure: Two exploration adits have been developed to access copper mineralization at depth.
• Sample Testing: Samples of deeper mineralization have been extracted and delivered to Nittetsu’s R&D facility in Tokyo for testing.
• Technology: Nittetsu is advancing proprietary copper extraction technologies; initial results show competitive recoveries for different types of copper mineralization.
• Project Status: The first stage of development is on a path toward production. The mine is planned as a conventional sulphide leaching operation using solvent extraction and electrowinning (SX/EW) technology.
• Permits and Construction: All permits required for commencement of construction are in place. Mine construction is anticipated in the first half of 2026.
• Financing: Camino and Nittetsu are actively pursuing a debt facility with a Japanese lender, expected to offer highly competitive terms.
• Future Strategy: The company intends to integrate new leaching technologies to determine the most effective scale-up strategy for expanding copper production at Puquios.

Notable Quotes

• Jay Chmelauskas, CEO of Camino: "Camino has been working with Nittetsu for several years and is benefiting from their know-how in exploration geology and operations. Now we are extending our co-operation to their research and development business unit in Tokyo... After we build the first conventional copper production phase at Puquios, we would like to grow production in Chile, and we are starting that work now."
• Shinichiro Mita, General Manager of Nittetsu: "I have recently visited the Puquios copper project with our technical and management teams in preparation to begin construction of the mine. We all believe that the project can grow from the first phase of development, and we are pleased to advance our research to develop economic copper leaching technologies for Puquios."