VVC Updates on Gloria Project, Private Placement Financing and Other Matters

TORONTO, June 04, 2020 (GLOBE NEWSWIRE) -- VVC Exploration Corporation (“VVC” or the “Company”) (TSX‑V: VVC) wishes to provide the following updates:

Financial Statements

VVC filed its Financial Statements and Management's Discussion & Analysis (collectively the "Financials") for year ended January 31, 2020, on May 29, 2020.  The Financials are available for download from the Company's website or from SEDAR (www.sedar.com).

VVC's Covid-19 Preparedness Plan

The Company expects to reopen the Gloria Copper Project, located in northern Chihuahua State, MX in June, once the Mexican authorities have granted permission.   In preparation for the re-opening, VVC is purchasing 2,250 face masks and face shields for our employees.   Throughout the pandemic, VVC has provided food and other supplies to the local community in Samalayuca, through the local "Solidarity Pantries Campaign".  The Company is committed to providing the safest possible working environment for its workers while continuing to support the most vulnerable in the local community.

Metallurgical Testing - Gloria Project

Prior to the pandemic, VVC was using an on-site lab to evaluate copper recovery processes for heap leaching at the Gloria Project, with the objective of decreasing residence time, and increasing recoveries thereby reducing costs and hopefully increasing profitability.   Further testing has been delayed due to the onset of the Covid-19 pandemic and resulting shut-down, however plans are to continue to refine the recovery process once permission is granted for a restart.

The metallurgical testing was carried out in-house under the supervision of Everardo Morga Monárrez, a Senior Metallurgist from Hermosillo, México.  If the metallurgical tests are successful and can be applied to the pilot mining / processing plan, a comprehensive 43-101 compliant report and news release will be issued to disclose the results and conclusions of the metallurgical test work. 

No independent National Instrument 43-101 (NI 43-101) compatible Feasibility Study (FS), Pre-Feasibility Study (PFS), Preliminary Economic Assessment (PEA) or other economic assessment has been carried out on the project or the metallurgical testing, and therefore, there is no independent confirmation of copper recoveries or that the project will be economic.