INV Metals Provides Update

TORONTO, Aug. 03, 2020 (GLOBE NEWSWIRE) -- INV Metals ("INV Metals" or "Company") (TSX: INV) provides an update on the 100% owned Loma Larga gold-copper-silver property (“Loma Larga” or “Project”), located in Ecuador.

The Company is in the process of finalizing the Environmental Impact Study (“EIS”) for the Loma Larga gold-copper-silver project and expects to submit the EIS in the near term to the Ministry of Environment and Water for review and comment. The EIS is the culmination of a collaboration of work by the Company, various consultants and local universities based on many years of baseline data collection and study. Once submitted, the Company will enter the permitting and financing phase of the Project with the goal to commence the development of Loma Larga in 2021.

Ms. Candace MacGibbon stated, “INV Metals has focused its efforts to design the Loma Larga underground mine and related infrastructure in an environmentally responsible manner, with a total site footprint of less than 65 hectares. The mine site is not near any lakes or rivers. The Loma Larga Project will not discharge any water within the Canton of Cuenca. Treated water will meet stringent Ecuadorian standards and the Company expects the treated water to be of better quality than the water currently found downstream of the discharge point. The underground mine will produce concentrates which do not use cyanide for processing and ~55% of the tailings will be placed underground using the paste backfill method. The remaining tailings will be placed on a lined and filtered tailings facility and will be covered and revegetated upon closure. The geotechnically stable tailings facility is designed with berms surrounding the enclosure that will house inert material which will be filtered and pressed to remove water to be treated and recycled within the processing facilities.”

Ms. MacGibbon added, “We have worked together with our local communities for over 15 years to support the people and communities where we operate, most recently working side-by-side to combat the COVID-19 crisis to help provide food security and medical and personal protective equipment. We reconfirm our commitment to honest and transparent communication.”

She added, “The Ecuadorian federal government remains supportive of mining to achieve its goal of sustainable and responsible development for the future. Our team is looking forward to this exciting phase of Loma Larga’s development where we engage with our many stakeholders to convey the benefits of Loma Larga and to clarify misinformation.”