VANCOUVER, BRITISH COLUMBIA – April 8, 2014 - Batero Gold Corp. (“Batero”, or the “Company”) (TSX-V: BAT) is pleased to announce engagement, through its fully owned Colombian subsidiary Minera Quinchía S.A.S., in a community shared value program in alliance with the Government of Canada and the International Organization for Migration (IOM) for the area of influence of Batero’s exploration activities.
The program, named "Improving Socio-Economic Development for Families in Quinchía, Risaralda" was submitted jointly by Batero and the IOM to the Department of Foreign Affairs, Trade and Development of the Government of Canada (formerly Canadian International Development Agency) during the 2012 call for proposals for the Strategic Partnerships for Development Fund (“SPDF”) that was created as part of its Andean Regional Initiative. http://www.acdi-cida.gc.ca/cidaweb/cpo.nsf/vWebCSAZEn/496AC8D023AB552985257C5B003BCC16
The SPDF - Colombia approved and awarded CDN$ 580,325.00 to the project that will be administered by the IOM and funding will be complemented by a total contribution of CDN$240,379.00 from Batero over the next two years.
“Batero has been committed to working with the community since the inception of the company and the implementation of the program “Improving Socio-Economic Development for Families in Quinchía, Risaralda” is a testament to our ongoing commitment to local families”, stated Roger Moss, President and CEO of Batero Gold Corp. “We are proud to be selected with the IOM by the Department of Foreign Affairs, Trade and Development of the Government of Canada and anticipate the program should have a positive impact to improve opportunities for entrepreneurial business development around Quinchia. Despite the current challenging metals market conditions, Batero remains confident in the Quinchia project and continues to be committed to the local communities.”
The program aims to assist local capacity building for business development among the Quinchia communities that are located in the area of influence of Batero’s exploration activities. The focus of the program is to provide training within local communities by means of strategic alliances supported by this agreement including sugar cane guilds and the Colombian Government Artisanal Organization. The goal of the program is to work with alliance members and the community towards building confidence in business development through optimization of production and merchandising of sugar cane and its derivatives, as well as artisanal silversmithing. Once implemented, the programs are expected to benefit approximately 600 families by improving their income and ensuring the sustainability and profitability of their local production units. By strengthening local business capacity based on local products, the program aims to create a healthy community development environment that may alleviate the social pressure over the exploration sector and prevent the possible impacts of people migration.
This program has been recognized as a Corporate Shared Value (CSV) planning model that will potentially assist both the communities and the local government in establishing a locally focused development model in partnership with Batero.
Batero has demonstrated a strong shared value commitment through programs such as the innovative “Farms with a Future“ initiative and capacity building in organic agricultural practices. Batero also supports local education through entrepreneurship training and cultural awareness through music with the Banda Sinfonica de Quinchia and its rural annex and assists with the provision of medical and dental initiatives by local authorities. Detailed information on community development programs can be found in the Batero CSV reports, as well as a number of videos that can be viewed at http://www.baterogold.com/en/responsibility/responsibility.
As part of its “shared value” approach to communities, Batero strongly believes that its social license to operate in the Quinchia region is further strengthened every time local communities gain independent long-term socio-economic benefits from the company’s efforts.
ON BEHALF OF THE BOARD OF
BATERO GOLD CORP.
President and CEO
Batero Gold Corporation
For further information please contact:
Tel: 604.568.6378 or
ABOUT BATERO GOLD
Batero Gold Corp. is a precious and base metals exploration and development Company focused on two primary objectives.The first of these objectives is the advancement of the La Cumbre oxide deposit. La Cumbre is located within the Company’s 100% owned Batero-Quinchia Gold Project, which sits within Colombia’s emerging and prolific Mid Cauca gold and copper belt. Batero is moving the La Cumbre oxide deposit towards the goal of making a production decision, once the appropriate level of study has been completed, and intends to first target the near and at surface higher grade oxidized gold mineralization at the deposit.Batero’s second objective is to pursue opportunities to acquire prospective high-grade, production focused mineral properties in Colombia and Latin America. In pursuing both these objectives, Batero plans to leverage its secure treasury position, strong regional relationships, experienced management team, and long-term financial partners.Shares of the Vancouver-based company trade on the TSXVenture Exchange under the symbol “BAT”.
FORWARD LOOKING STATEMENTS
Certain of the statements and information in this press release constitute “forward-looking statements” or “forward-looking information”. Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “believes”, “plans”, “estimates”, “intends”, “targets”, “goals”, “forecasts”, “objectives”, “potential” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information.
Forward-looking statements or information may relate to, among other things: developing the most efficient and cost-effective leach processing circuit for the Cumbre gold deposit; the timing and scope of expected diamond drilling; resource estimates; grades on the Batero-Quinchia project; scope of mineralization within the Batero-Quinchia project; receipt and/or timing of required permits and regulatory approvals; the sufficiency of the Company’s capital to finance the Company’s operations; and geological interpretations and potential mineral recovery processes.
Forward-looking statements andinformation are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information.
The Company’s forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and, other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements orinformation in the event that circumstances or management’s assumptions, beliefs, expectations or opinions should change, or there should occur or develop changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements and information.
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