AREQUIPA RESOURCES ANNOUNCES PHELPS DODGE AS JOINT VENTURE PARTNER.VANCOUVER, B.C.--(BUSINESS WIRE)--March 3, 1995--AREQUIPA RESOURCES LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability (VSE See DOS/VSE. VSE - Virtual Storage Extended :AQP AQP Aquaporin (family of membrane channel proteins) AQP Association for Quality and Participation AQP Advanced Qualification Program (aviation) AQP Arequipa, Peru - Rodriguez Ballon ) Pursuant to its News Release #8 dated February 1, 1995 which announced a joint venture agreement on five (5) of the Company's copper porphyry Porphyry, Greek scholar Porphyry (pôr`fĭrē), c.232–c.304, Greek scholar and Neoplatonic philosopher. He studied rhetoric under Cassius Longinus and philosophy under Plotinus. targets in Peru; Los Calatos, Cerro Blanco, Moquegua, Rio Tambo and Promota (the "properties"). Arequipa Resources Ltd. ("Arequipa" or the "Company") is pleased to now disclose the identity of the joint venture partner as Phelps Dodge Phelps Dodge Corporation is a former United States company founded in 1834 by Anson Greene Phelps and William E. Dodge. On March 19, 2007, it was acquired by Freeport-McMoRan and now operates under the name Freeport-McMoRan Copper & Gold Inc. , one of the world's largest copper producers. The Joint Venture will see a minimum of $US 10 million spent by Phelps Dodge on the Los Calatos copper property over a period of four years, together with cash option payments to Arequipa totaling $US 1.6 million over the same period. Phelps Dodge will also have to provide a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. and a $US 5 million payment to Arequipa in order to earn a 60% interest in Los Calatos property. If the exploration program is successful Arequipa will hold a 40% interest in a major orebody with little risk to its shareholders. Beginning with the third year of the agreement, up to an additional $US 900,000 will be expended over the succeeding three-year period on the properties other than Los Calatos, and if Phelps Dodge elects not to proceed with work on Los Calatos, up to a total of US $6 million would be required to be expended on the other properties over the six-years beginning when Los Calatos has been dropped. The formal agreements containing the principal elements, described above and in more detail in News Release #8, have been executed. Arequipa is pleased that the commercialization of these copper porphyries through a joint venture with a large international mining company has been achieved and that this will result in major exploration and drilling programs that will be ongoing over the next several years. The Company is also actively pursuing discussions with several major companies on other targets within its copper portfolio. Arequipa Resources Limited is a mineral exploration and development company focused on the acquisition and development of copper and gold properties in Peru. The Company was founded by Mr. David Lowell who is credited with the discovery of the La Escondida deposit in Chile. The Company's shares trade on the Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). under the symbol AQP. ON BEHALF OF THE BOARD OF DIRECTORS Ms. Catherine McLeod President The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. CONTACT: Ms. Catherine McLeod, President 604/684-0003 INDUSTRY KEYWORD: MINING REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or |
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