Caldas Gold Updates Certain Prior Disclosure

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TORONTO, Sept. 18, 2020 (GLOBE NEWSWIRE) -- Caldas Gold Corp. (TSX-V: CGC) (OTCQX: ALLXF) announces that it has taken certain actions as set out below in respect of its public disclosure in connection with an Ontario Securities Commission (“OSC”) review related to the preliminary short form prospectus filed by Caldas Gold on August 18, 2020 in connection with its issuance and sale of Special Warrants.

Amended News Releases

In news releases dated May 13, 2020, May 15, 2020, May 21, 2020, June 16, 2020, June 22, 2020, June 23, 2020 and July 2, 2020, the Company stated: “Caldas Gold is a Canadian junior mining company currently advancing a prefeasibility study for a major expansion and modernization of its underground mining operations at its Marmato Project in the Department of Caldas, Colombia with mineral resources of 2.0 million ounces of gold in the Measured and Indicated categories and 3.3 million ounces in the Inferred category.” Such disclosure is hereinafter referred to as the “Technical Disclosure”.

The Company is subject to National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). Pursuant to Item 2.2(d) of NI 43-101, an issuer must not disclose any information about a mineral resource or mineral reserve unless the disclosure states the grade or quality and the quantity for each category of the mineral resources and mineral reserves if the quantity of contained metal or mineral is included in the disclosure. Pursuant to Item 3.4(b) of NI 43-101, if an issuer discloses in writing mineral resources or mineral reserves on a property material to the issuer, the issuer must include in the written disclosure the quantity and grade or quality of each category of mineral resources and mineral reserves.

Pursuant to NI 43-101, the Company hereby retracts the prior disclosure and restates the Technical Disclosure as follows:

“Caldas Gold is a Canadian junior mining company currently advancing a prefeasibility study for a major expansion and modernization of its underground mining operations at its Marmato Project in the Department of Caldas, Colombia with mineral resources of 2.0 million ounces of gold in the Measured and Indicated categories based on a total of 17.3 million tonnes with an average grade of 3.7 g/t and 3.3 million ounces in the Inferred category based on a total of 44.9 million tonnes at an average grade of 2.3 g/t.”